Exports to Canada on the rise under CPTPP11/08/2023 49
Vietnam now ranks second among leather and footwear exporters to Canada.
Vietnam’s exports of leather and footwear and garment and textile products to Canada have increased significantly in the five years since the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) took effect, according to the Trade Office of Vietnam in Canada.
Vietnam exported $3.72 billion worth of products to Canada in the first five months of this year, a year-on-year increase of 3.2 per cent.
Leather and footwear and garments and textiles were among the top four products recording the largest export volumes to the country.
Vietnam ranked second last year among leather and footwear exporters to Canada, earning total revenue of $832 million, for a market share of 26.5 per cent.
The value of leather and footwear exports to Canada has nearly doubled in the five-year period, said Ms. Tran Thu Quynh, Vietnamese Trade Counselor in Canada.
Export growth in the sector show the positive aspects of the CPTPP, she said.
Vietnam earned over $1.8 billion from exporting garment and textile products to Canada last year, for a market share of 12.5 per cent, behind only China and Bangladesh. The country is expected to secure second position by the end of this year.
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