Vietnam – India trade sees strong growth

Tuesday, 2017-08-15 11:42:38
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Vietnam's exports of iron, steel, mental and products from iron and steel maintained an impressive growth.
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NDO – 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 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.