Trade with India surges by 47%

Trade with India surges by 47%

Two-way trade turnover between Viet Nam and India reached US$2.24 billion in the first five months of this year, up 47.1 per cent year-on-year.

According to the Viet Nam Trade Office in India, Viet Nam's exports to India hit $1.021 billion, (up 72.6 per cent) while its imports were estimated at $1.225 billion (up 31 per cent), bringing the country's trade deficit down by 40.6 per cent to $203.8 million.

The South Asian country was Viet Nam's 10th largest trade partner in the first five months.

Five key items exported to India were telephones and components (up 323 per cent to $511 million), computers, electronic products and components (up 58.8 per cent to $79.7 million), machinery, equipment and tools (down 29.8 per cent to $69.5 million), natural rubber (down 12.8 per cent to $40.5 million) and coffee (up 39.7 per cent to $35.4 million).

The five biggest products imported from India were animal food and materials (up 37.3 per cent to $237.7 million), corn (up 19.9 per cent to $202 million), cotton (up 109 per cent to $115 million), steel (up 353 per cent to $104 million) and pharmaceuticals (up 4.4 per cent to $97.5 million). 

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