Exports to India increase slightly

Monday, 02 February 2015

   Two-way trade turnover between Vietnam and India in the first six months of this year reached US$1.84 billion, an increase of 0.45 percent over the same period last year.


    According to the Export-Import Department under the Ministry of Industry and Trade, Vietnam earned nearly US$800 million from exports to India, up by 22.6 percent, while its imports from the South Asian nation were down 11 percent.


    Vietnam’s trade deficit with India was estimated at nearly US$340 million, 45 percent less than the same period last year.

    In addition to traditional goods such as agricultural and craft products, Vietnam has also been exporting high value-added products such as steel, rubber and coal to India.

    Experts say that India has a huge demand for agricultural and forestry products from Vietnam so it is crucial for Vietnamese businesses to take full advantage of the Vietnam-India Free Trade Agreement and seek more trading partners in the country.

    Local businesses should also improve the quality and competitive edge of their products and keep updated on India’s customs procedures, they said.

T.N (Source: vov online)