Vietnam-India trade increases 5.14-fold from 2006-2013

10:35 | 17/02/2014 Trade

(VEN) - The Vietnamese Trade Office in India said that bilateral trade between Vietnam and India reached US$5.237 billion in 2013, a 32.8 percent increase on 2012, including US$2.354 billion worth of Vietnamese exports, a 32.08 percent increase, and US$2.883 billion worth of imports, a 33.4 percent increase. The two-way trade increased 5.14-fold from US$1.108 billion to US$5.237 billion from 2006-2013.

Vietnamese export revenues increased by US$572 million from 2012-2013. Telephone and telephone accessories exports in particular increased by US$456.9 million to US$926 million last year accounting for 39 percent of all Vietnamese exports to India.

Other major Vietnamese exports to this market last year included machinery, equipment and spare parts reaching US$242 million, computers, electronic ware and electronic accessories US$231 million, rubber US$211 million, chemicals US$61 million and coffee US$60.5 million.

During the period from 2006-2013 Vietnam always had trade deficit with India. Its largest imports from India included iron and steel valued at US$353 million, animal feed and materials US$338 million, corn US$304 million, pharmaceutical products US$248 million, machinery, equipment and spare parts US$194 million. The top five import items amounted to US$1.44 billion and 50 percent of all imports from India.

If the 2013 growth momentum continues this year, bilateral trade would reach the goal of US$7 billion by 2015./.

Bui Trung Thuong