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Viet Nam enjoys trade surplus with CPTPP markets

VGP – Trade between Viet Nam and 10 member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) was estimated at US$52 billion in the first seven months of 2021.

September 21, 2021 1:11 PM GMT+7

The figure rose 23.36 percent against the same period last year and accounted for 13.86 percent of the nation’s total trade value. 

Of the figure, Viet Nam’s imports from the CPTPP signatories were estimated at US$25.96 billion, an increase of 24.21% compared to the same period last year and representing 13.75 percent of the country’s total import value.

Viet Nam posted a trade surplus of US$82.28 million with the CPTPP member countries in the reviewed period.

In July alone, bilateral trade value between Viet Nam and CPTPP members reached US$7.9 billion, a year-on-year increase of 0.51 percent. Viet Nam enjoyed a trade surplus of US$59.08 million with these markets, up 60.52 percent.

The CPTPP was signed by 11 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Viet Nam in Chile on March 8, 2018. 

Eight months later, Viet Nam ratified the trade deal that took effect on January 14, 2019.

The trade area represents 13.5 percent of the global economy, a total of US$10 trillion dollars and 15 percent of the global trade revenue, equal to US$5 trillion.

By Thuy Dung