India, VN trade hits US$10.69 billion in 2018

VGP - According to statistics released by the General Department of Viet Nam Customs, two-way trade between Viet Nam and India experienced a year-on-year rise of 40% to reach US$10.69 billion in 2018.

January 16, 2019 5:10 PM GMT+7

Among staples, machinery, equipment and parts recorded the strongest

The increase was mainly due to the value of Vietnamese exports hitting US$6.54 billion, up 74.2% against 2017.

Mobile phones and parts came next at more than US$ 814 million, up 49.16%, followed by computers, electronics and parts at US$ 800 million, up 63.04%, and metal and metal-made products at nearly US$ 578 million, up 23.49%.

Among staples, machinery, equipment and parts recorded the strongest turnover with nearly US$1.7 billion, up close to 427% year-on-year.

Meanwhile, Viet Nam imported US$4.15 billion worth of goods from India, a year-on-year rise of 6.95%, mostly production materials and machinery and parts.

Recently, India has imported rattan products and carpets from Viet Nam at a rapid pace, up 15.9 times.

Staples with export growth exceeding 100 % included steel and plastic products, transport means and spare parts.

The two countries have set a target of reaching US$15 billion in bilateral trade by 2020.

India was one of Viet Nam’s three export markets posting the highest growth, totalling more than 20% during January-September, along with China and the Republic of Korea (RoK).

By Vien Nhu