According to data from General Department of Vietnam Customs, bilateral trade between Vietnam and India reached 14.36 billion USD, a slight decrease compared to 2022, of which, export of goods to India reached a turnover of 8.5 billion USD, growing 6.8% compared to 2022, India is one of the few markets achieving positive growth.
Leading export turnover in 2023 is the group of computers, electronic products and components reaching 1.94 billion USD, an increase of 88.2% over the same period last year, accounting for 22.9% of the export turnover. The next is the group of all kinds of phones and components reaching 1.03 billion, accounting for 12.2% proportion.
In 2023, export turnover of some product groups will increase compared to the same period last year: Iron and steel of all kinds increased by 319.3%; Wood and wood products increased by 287.7%; rubber products increased by 65.7%.
In opposite direction, Vietnam's import turnover from India in 2023 only reached 5.86 billion USD, a sharp decrease of 17.2% compared to 2022. Vietnam's imports from India account for 2% of Vietnam's total import turnover. Vietnam's trade surplus to India is worth 2.63 billion USD, a sharp increase compared to 2022.
Trade is an important pillar in Vietnam - India bilateral relations, continuously achieving steady growth over the past 25 years. Bilateral relations from about 200 million USD in 2000 have reached 15 billion USD in 2022, making India one of Vietnam's top 8 trading partners, while Vietnam is in the top 4 ASEAN countries with trade relations with India. India is currently Vietnam's largest trading partner in South Asia, accounting for nearly 80% of Vietnam's exports to this region.
Structure of import and export products is balanced and complementary. While India is an important source of raw materials and finished products for Vietnam for iron and steel, chemicals, pharmaceuticals, textiles, animal feed and seafood, the top export product group from Vietnam to India is personal computers; mobile phones and components, iron and steel, chemicals, wood and wood products, shoes, spices, coffee, pepper...
Previously, in 2022, Vietnam's export turnover to India reached approximately 8 billion USD, an increase of 26.8% compared to 2021. Vietnam's exports to India accounted for more than 2.0% of the proportion of Vietnam's total export turnover.

Source: Vitic/ congthuong.vn