Canada
↔
Viet Nam

Canada-Viet Nam Bilateral Trade Analysis 2023

Complete trade statistics: $10.39B total volume •Canada deficit: $9.24B

Canada → Viet Nam

$572.69M

Exports (2023)

Viet Nam → Canada

$9.81B

Imports (2023)

Trade Balance

$9.24B

Deficit for Canada

Total Trade

$10.39B

Combined Volume

Trade Flow Visualization

Direct trade relationship between Canada and Viet Nam. Green line shows exports from Canada, red line shows imports.

Detailed Product Trade Analysis

Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the Canada-Viet Nam commercial relationship and competitive positioning in global markets.

Canada → Viet Nam Exports

$572.69M
2023 Total

Export Market Intelligence

Product Diversity:
Highly Diversified
Market Share:
14.2% top product
1Soya beans: other than seed, whether or not broken
$81.37M
14.2% of exports
2Cereals: wheat and meslin, other than durum wheat, other than seed
$75.86M
13.2% of exports
3Offal, edible: of bovine animals, (other than tongues and livers), frozen
$29.67M
5.2% of exports
4Fertilizers, mineral or chemical: potassic, potassium chloride
$28.56M
5.0% of exports
5Crustaceans: frozen, crabs, in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water
$23.46M
4.1% of exports
6Meat: of bovine animals, boneless cuts, frozen
$23.18M
4.0% of exports
7Surveying equipment: articles n.e.c. in heading no. 9015, including hydrographic, oceanographic, hydrological, meteorological or geophysical instruments and appliances (excluding compasses)
$19.64M
3.4% of exports
8Coal: bituminous, whether or not pulverised, but not agglomerated
$19.03M
3.3% of exports
9Wood pulp: chemical wood pulp, soda or sulphate, (other than dissolving grades), semi-bleached or bleached, of coniferous wood
$18.54M
3.2% of exports
10Paper or paperboard: waste and scrap, of unbleached kraft paper or paperboard or corrugated paper or paperboard
$13.19M
2.3% of exports

🎯 Strategic Export Focus

Canada's export portfolio to Viet Nam demonstrates strong diversification across multiple sectors, with soya beans: other than seed, whether or not broken representing a key competitive advantage in this bilateral market.

Viet Nam → Canada Imports

$9.81B
2023 Total

Import Dependency Profile

Supply Diversity:
Well Diversified
Critical Imports:
12.8% concentration
1Telephones for cellular networks or for other wireless networks
$1.25B
12.8% of imports
2Communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus
$586.74M
6.0% of imports
3Automatic data processing machines: portable, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display
$500.24M
5.1% of imports
4Electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (LED)
$345.59M
3.5% of imports
5Headphones and earphones, whether or not combined with a microphone, and sets consisting of a microphone and one or more loudspeakers
$282.91M
2.9% of imports
6Sports footwear: tennis shoes, basketball shoes, gym shoes, training shoes and the like, with outer soles of rubber or plastics and uppers of textile materials
$224.84M
2.3% of imports
7Insulated electric conductors: ignition wiring sets and other wiring sets of a kind used in vehicles, aircraft or ships
$209.98M
2.1% of imports
8Tools: for working in the hand, with self-contained electric motor: other than saws and drills
$174.79M
1.8% of imports
9Cases and containers: n.e.c. in heading 4202, with outer surface of sheeting of plastics or of textile materials
$166.38M
1.7% of imports
10Footwear: n.e.c. in heading no. 6403, (not covering the ankle), outer soles of rubber, plastics or composition leather, uppers of leather
$140.30M
1.4% of imports

📦 Import Strategy Analysis

Canada's import pattern from Viet Nam reveals significant dependencyin telephones for cellular networks or for other wireless networks, highlighting complementary economic structures and potential supply chain optimization opportunities.

Competitive Trade Position Analysis

🏆

Market Leadership

Canada demonstrates competitive strength in exportingsoya beans: other than seed, whether or not broken to Viet Nam, leveraging comparative advantages.

Export Leader in 20+ Categories
🔄

Trade Complementarity

The bilateral relationship showsmoderatecomplementarity, with each country specializing in different sectors.

Specialized Exchange
📈

Growth Potential

The $10.39B trade volume indicates substantial economic integration with room for expansion in emerging sectors.

Major Partnership

Executive Summary: Canada-Viet Nam Trade Relationship

Key Trade Highlights 2023

  • Total Trade Volume: $10.39 billionrepresenting a significant bilateral economic relationship
  • Trade Balance: Canada maintains a deficit of $9.24 billion
  • Export Focus: Canada's primary exports include soya beans: other than seed, whether or not broken, cereals: wheat and meslin, other than durum wheat, other than seed, offal, edible: of bovine animals, (other than tongues and livers), frozen
  • Import Dependencies: Key imports from Viet Nam include telephones for cellular networks or for other wireless networks, communication apparatus (excluding telephone sets or base stations): machines for the reception, conversion and transmission or regeneration of voice, images or other data, including switching and routing apparatus, automatic data processing machines: portable, weighing not more than 10kg, consisting of at least a central processing unit, a keyboard and a display

Strategic Trade Indicators

Trade IntensityHigh
Export DiversificationDiversified
Trade Balance HealthImbalanced

📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.

Historical Trade Analysis & Economic Context

Trade Evolution Timeline

2019-2023: Recent Trends

Current trade volume of $10.39B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.

2015-2019: Growth Period

Sustained expansion in bilateral trade driven by complementary economic structures, with Canada leveraging its comparative advantages in soya beans: other than seed, whether or not broken.

2010-2015: Foundation Building

Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.

Pre-2010: Early Development

Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.

Key Economic Drivers

1

Comparative Advantage

Canada's specialization in soya beans: other than seed, whether or not brokencomplements Viet Nam's demand patterns, creating natural trade synergies.

2

Supply Chain Integration

Deep integration in global value chains has strengthened bilateral linkages, particularly in telephones for cellular networks or for other wireless networks.

3

Market Access & Trade Policy

Favorable trade agreements and market access conditions have facilitated the growth of this $10.39B bilateral relationship.

Trade Pattern Insights

Trade ComplementarityAsymmetric
Seasonal VariationsModerate
Product ConcentrationLow
Market DependencyHigh
🔮

Trade Relationship Outlook

The $10.39B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.

Economic Impact & Strategic Outlook

Economic Impact Assessment

💰

Trade Volume Impact

The $10.39 billion bilateral trade volume represents a significant economic factorfor both economies.

Economic Significance: High
🏭

Industrial Integration

Trade flows in soya beans: other than seed, whether or not broken and telephones for cellular networks or for other wireless networks demonstrate deep industrial linkages and supply chain integration.

Supply Chain Integration: Diversified
⚖️

Trade Balance Effects

Canada's trade deficit of $9.24 billion impacts its overall economic position in this bilateral relationship.

Balance Impact: Import Dependency

Strategic Future Outlook

🚀Growth Opportunities

Emerging Sectors
Technology transfer and innovation cooperation in cereals: wheat and meslin, other than durum wheat, other than seed present expansion opportunities.
Market Diversification
Beyond current focus on telephones for cellular networks or for other wireless networks, new product categories offer potential for trade expansion.

⚠️Risk Factors

Supply Chain Vulnerabilities
High trade imbalance may create supply chain risks
Market Competition
Global competition in soya beans: other than seed, whether or not broken may affect future market positioning.

🎯Strategic Recommendations

  • Strengthen cooperation in high-value sectors beyond current trade patterns
  • Develop alternative supply chains to reduce dependency risks
  • Explore joint ventures in emerging technology sectors
  • Enhance trade facilitation and reduce transaction costs

Market Position & Competitive Summary

The bilateral trade relationship between Canada and Viet Nam represents a total trade volume of $10.39 billion in 2023. This partnership demonstrates an unfavorable trade balance for Canada, with imports exceeding exportsby $9.24 billion.

Export Strengths

Canada's exports to Viet Nam total $572.69 million, with competitive advantages in soya beans: other than seed, whether or not broken, representing $81.37M or14.2% of bilateral exports.

Import Dependencies

Imports from Viet Nam amount to $9.81 billion, highlighting economic interdependence in telephones for cellular networks or for other wireless networks, with Telephones for cellular networks or for other wireless networks comprising12.8% of total imports.

The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates Canada's strategic sourcing from Viet Nam. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.

Download Bilateral Trade Data

Access detailed trade data between Canada and Viet Nam in multiple formats.

Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023