According to the latest data from General Department of Customs, bilateral trade turnover between Vietnam and India in the first 7 months of 2024 reached nearly 8.67 billion USD, up 4.5% over the same period in 2023. Notably, Vietnam's export turnover to India reached 5.37 billion USD, recording an impressive growth of 15.2% over the same period last year. In export structure, group of phones of all kinds and components led with a turnover of 1.15 billion USD, a sharp increase of 102%, accounting for 21.5% of total export turnover. Group of computers, electronic products and components ranked second with a turnover of 945 million USD, accounting for 17.5% of proportion. The next was group of machinery, equipment, tools and other spare parts with a turnover of 507 million USD, accounting for 9.4% of proportion.
Notably, some other export industries of Vietnam in the first 7 months of 2024 also had very strong growth, typically: pepper increased by 87.5% (reaching 38.5 million USD), plastic products increased by 75%, wood and wood products increased by 65.7%, animal feed and raw materials increased by 57.2%, means of transport and spare parts increased by 56.6%, confectionery and cereal products increased by 55.3%, rubber increased by 42.9%, ceramic products increased by 27%, cashew nuts increased by 25.5%, textile and footwear raw materials increased by 16.6%. In contrast, Vietnam's import turnover from India in this period only reached 3.3 billion USD, down 9.2% compared to same period in 2023. Import turnover from India only accounted for 1.55% of Vietnam's total import turnover. Notably, Vietnam recorded a trade surplus of 2.06 billion USD with India in the first 7 months of 2024, a sharp increase of 101.8% over the same period last year.

Source: Vitic/ congthuong.vn