Fri, 31 Mar 2023

Vietnam's trade with India hits record in 2022

01 Feb 2023, 19:37 GMT+10

HANOI, 1st February, 2023 (WAM) -- Two-way trade between Vietnam and India saw a yearly increase of 13.6% to US$15.05 billion in 2022, the Vietnam News Agency (VNA) quoted statistics from the General Department of Customs as saying.

During the year, Vietnam's exports to India topped $7.96 billion, up 26.8% year-on-year. Among its export items, mobile phones and accessories posted the highest turnover with $1.52 billion, up 18.4%, making up nearly 20% of the total export value. Computers, electronics and parts came next with $1.03 billion, up 25%, while machinery and equipment ranked third with $804 million or over 10%.

Other staples with the highest value increase were coffee with 165%, iron and steel (97%) and footwear (96%).

Some items, however, posted large decreases in export value, such as animal feed and raw materials with $23.04 million, down 76.5%, and coal with $7.68 million, down 46%.

As per the data, Vietnam imported $7.09 billion worth of goods from India last year, a yearly hike of 2%. Its major import commodities from the market were iron and steel, with nearly $775 million, machinery and equipment ($549.3 million) and ordinary metals ($515 million).

Besides trade, bilateral cooperation in tourism and investment also grew with the resumption and launch of direct air routes.

More Vietnam News

Access More

Sign up for Vietnam News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!