Vietnam – India trade turnover rises 34% in first quarter

Saturday, 17/04/2021 14:22
(CPV) – Although the COVID-19 epidemic severely affected trade exchanges of many countries, bilateral trade between Vietnam and India in the first months of 2021 continued to grow strongly, with remarkable results.

Electronic products always make up large export turnover in the Indian market. (Photo: congthuong.vn)

According to statistics of the General Department of Customs, Vietnam – India bilateral trade turnover saw positive growth in the first quarter of 2021, reaching 3.3 billion USD, a year-on-year rise of 34.1%. Of this, exports were valued at 1.71 billion USD, up 22.2% and import turnover reached 1.58 billion USD, up 50%.

Some sectors enjoyed export turnover rise such as tea (639.8%), fossil coal (256.5%), raw plastic materials (195%), iron and steel of all kinds (186%), and handicraft and fine arts (103.5%).

Export industries with large turnovers recorded positive growth, including mobile phones and components, up 16%; computers, electronic products and components, up 14.2%; and normal metal and products, up 37% year on year

Meanwhile, imports in March 2021 also increased sharply, reaching 677 million USD, a year-on-year increase of 65.3%.

Notably, import of animal feed and raw materials and maize saw a sudden growth in the first quarter with 247.85 million USD of value, a 10 fold-increase year on year.

Other items with sharp import turnover growth include fertilizer 288%, normal metal 143%, cotton of all kinds 128% and fruit and vegetable 92%.

If the growth momentum is maintained, bilateral trade between the two countries will reach more than 13 billion USD this year./.

BTA

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