Vietnam – India trade sees strong growth

08:36 | 18/08/2017 Trade

Vietnam – India bilateral trade increased 42.95% in the first seven months of this year, according to the Vietnam Trade Office in India.

Vietnam's exports of iron, steel, mental and products from iron and steel maintained an impressive growth

Vietnam’s total export-import turnover to India reached US$4.24 billion in the first seven months, a year-on-year increase of nearly 43%.

Exports of iron, steel, mental and products from iron and steel maintained an impressive growth. The total export value of three commodities reached more than US$346 million in the first six months, up 98% over the same period last year.

Vietnam’s exports of computers, electronic products and components earned over US$302 million, a year-on-year increase of 83%; meanwhile mobile phones and components saw an export of over US$273 million, up 34% over the same period in 2016.

Vietnam upper its imports of iron and steel products from India in the first seven months of 2017, reaching more than US$437 million, up 1,040% over the same period last year.

In addition, the imports of animal and vegetable oils, vegetables, and animal feed – raw materials valued US$4.18 million (up over 227%), over US$12 million (up 1221%) and around US$89 million (up nearly 84%).

Most notably, Vietnam posted a trade surplus of nearly US$22 million in June and over US$46 million in July with India.

Theo NDO