CPTPP makes trade shift from deficit to surplus
11:16 | 22/08/2019

VGP – Thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Viet Nam’s trade balance shifted from deficit to surplus in the first seven months of 2019, the General Department of Viet Nam Customs reported. 

The General Department reported that Viet Nam’s export turnovers to the ten CPTPP countries accounted for 15.4% of her total export turnover. Out of Viet Nam’s over US$ 1 billion export turnover markets, six are CPTPP signatories.

On the other hand, Viet Nam’s import value experienced a year-on-year decline of 2.3% or US$ 503 million with CPTPP countries. 

Out of the ten CPTPP countries, Viet Nam ran a trade surplus with five markets with over US$ 100 million each including Canada, Mexico, Japan, Chile and Peru. 

However, Viet Nam’s overseas shipment to some CPTPP countries declined such as Australia (down US$ 373 million) and Malaysia (down US$ 122 million). 

The country suffered a trade deficit with Malaysia, Australia, Singapore, Brunei, and New Zealand. 

In addition, Viet Nam’s export turnover density was low in comparison with total import values of other CPTTT markets./.

By Khanh Phuong  

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