Exports of electric, electronic products to Canada reach $1.16 bln in 6M

Exports of Vietnamese electric and electronic products to Canada earned $1.16 billion in the first half of the year, down 16.2% compared to the same period last year, figures from the Ministry of Industry and Trade showed.

These products accounted for one third of total export revenue to Canada and play an important role in the growth prospect of exports to this market.

The shipment of leather footwear products during the six-month period also dropped 4.7% year-on-year, reaching $306 million.

However, exports of garment and textile and furniture increased compared to the same period last year.

The Vietnamese Trade Office in Canada forecast that Vietnamese firms would face many difficulties when exporting processing and manufacturing products to this market in the remaining months of 2024 and the following years.

Major challenges facing Vietnamese enterprises include the reduction of the market demand as a result of global economic downturn, high interest rate and high inflation, according to Ms. Tran Thu Quynh, Commercial Counselor in Canada.

Vietnamese enterprises also face high logistics costs and regulations relating to green production, she said.