Vietnam-India trade rises by 36.5% YoY to exceed $13 bn in 2021

25 Feb '22

2 min read

Pic: Shutterstock

India-Vietnam two-way trade in 2021 surpassed $13 billion for the first time, up by 36.5 per cent over the 2020 figure, the Vietnam Trade Office in India said. Citing general department of Vietnam customs data, it said Vietnam exported $6.25 billion worth of goods in the year—up by 20 per cent year on year—while India’s figure $6.95 billion—up by 56 per cent.

Vietnam’s main exports to India in December last year comprised metals ($79.3 million); computers, electronic products and components ($78.8 million), phones and components ($76.7 million), other goods ($75.2 million), machinery, equipment, tools and spare parts ($49.8 million).

Those that recorded strong growth included pepper (up by 101 percent), coffee (up by 90 per cent) and rubber products (up by 88 per cent).

Plastic raw materials, chemicals, rubber and coal were Vietnamese items that saw the strongest growth in 2021, surging by 231 per cent, 162 per cent and 138 per cent respectively, according to a Vietnamese news agency.

Meanwhile, mobile phones and components continued to record the largest export turnover, hitting more than $1.28 billion, accounting for about 21 per cent of Vietnam’s total export value to India, the department said.

In December last year, India mainly exported steel, metals, cotton, and machinery and equipment to Vietnam, with respective turnover of $116 million, $37 million, $35 million and $31 million.

Fibre2Fashion News Desk (DS)

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