Six years after the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) came into effect for Vietnam, the pact has created strong momentum for many Vietnamese export products, helping them penetrate deeper into member markets.
In the first ten months of 2025, trade turnover between Vietnam and CPTPP member economies reached $102.8 billion, a surge of 20.6% year-on-year. Vietnam’s exports accounted for $58.3 billion, up 26% from the same period last year. For comparison, two-way trade in 2024 was estimated at $102.1 billion, a 6.8% increase from 2023.
Australia and Canada have emerged as standout markets with notable trade growth.
Between 2018 and 2022, Vietnam–Australia bilateral trade expanded by around 20% annually. Trade value rose from $5 billion in 2012 to $8 billion in 2019—the year the CPTPP came into effect—and further to $15.7 billion in 2022. In the first ten months of 2025, the figure reached $11.5 billion. Despite global trade uncertainties in 2023–2024, two-way trade remained stable at nearly $14 billion per year. Australia is now among Vietnam’s top 10 trading partners.
The Canadian market has also benefited significantly from CPTPP commitments on tariff reductions, market access, and improved customs procedures. These commitments have enabled businesses on both sides to expand exports more sustainably.
Vietnam is currently Canada’s 7th largest trading partner, and the largest among ASEAN countries, accounting for nearly 45% of Canada’s total imports from the region. In 2024, Vietnam–Canada trade reached $7.2 billion, of which Vietnam’s exports represented more than $6.3 billion.
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