Wednesday , June 7 2023

Việt Nam-India trade exceeds $13 billion


Machinery, equipment, tools and spare parts were among main Vietnamese products exported to India. — Photo

NEW DEHLI — Two-way trade between Việt Nam and India in 2021 surpassed US$13 billion for the first time, up 36.5 per cent compared to the previous year.

The Việt Nam Trade Office in India cited data from the General Department of Việt Nam Customs, saying that Việt Nam exported $6.25 billion worth of goods in the year, up 20 per cent year-on-year; while India’s figure was $6.95 billion, up 56 per cent.

Việt Nam’s main exports to India in December last year were metals ($79.3 million); computers, electronic products and components ($78.8 million), phones and components ($76.7 million), other goods ($75.2 million), machinery, equipment, tools and spare parts ($49.8 million). Those that recorded strong growth included pepper (up 101 per cent), coffee (up 90 per cent), and rubber products (up 88 per cent).

Plastic raw materials, chemicals, rubber, and coal were Vietnamese items that witnessed the strongest growth in 2021, surging 231 per cent, 162 per cent and 138 per cent, respectively.

Meanwhile, mobile phones and components continued to record the largest export turnover, hitting more than $1.28 billion, accounting for about 21 per cent of Việt Nam’s total export value to India in 2021, the department said. 

In December last year, India mainly exported steel, metals, cotton, and machinery and equipment to Việt Nam, with respective turnover of $116 million, $37 million, $35 million, and $31 million.

The steel export posted the largest turnover in the whole year, reaching nearly $1.4 billion, making up about 20 per cent of the total export value of goods from India to Việt Nam. — VnExpress News

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