VN posts positive trade balance with CPTPPFriday, August 23,2019
AsemconnectVietnam - Viet Nam posted a positive trade surplus of over US$1 billion with ten countries in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) seven months after the trade deal came into effect, according to a report by the General Department of Vietnam Customs.
Exports to markets such as Japan, Canada and Mexico reported significant gains compared to the same period last year with Japan topping the chart at $1.01 billion, Canada at $546 million and Mexico at $290 million. At the same time, imports from Mexico decreased by $659 million, Singapore by $490 million and Malaysia by $219 million. It has helped the country turn a positive trade balance even posting a trade surplus with Japan for the very first time.
On the other hand, measures must be taken to further boost the country’s exports as Viet Nam saw a decline in exports to markets such as Australia and Malaysia and growing trade deficits with Singapore, Brunei and New Zealand.
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