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Tuesday, May 24, 2022

Vietnam-India trade turnover exceeds US$13 billion for first time

The Saigon Times

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HCMC – The bilateral trade turnover between Vietnam and India reached US$13.2 billion in 2021, the highest ever, surging 36.5% over the figure in 2020, the Vietnam Trade Office in India stated, citing statistics from the General Department of Vietnam Customs.

Specifically, Vietnam spent US$6.95 billion on imports from India and exported products worth US$6.25 billion to this country, up 56% and 20%, respectively, over 2020, news site Vietnamplus reported.

Vietnam’s main exports to India in December 2021 included base metals (US$79.3 million); computers, electronic products and accessories (US$78.8 million); and phones and phone parts (US$76.7 million). Products reporting a high growth rate were pepper (up 101%), coffee (up 90%) and rubber products (up 88%).

In the entire 2021, phones and phone parts were the largest export earner with a revenue of over US$1.28 billion, accounting for 21% of the total value of Vietnam’s exports to India.

Meanwhile, the main imports from India in December 2021 included iron and steel, metal, cotton and machinery and equipment, with an import turnover of US$116 million, US$37 million, US$35 million and US$31 million, respectively.

In 2021, iron and steel reported the highest import turnover among imports from India, at nearly US$1.4 billion.

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