Bilateral trade between Vietnam and India in the first ten months of the year surged 3 percent to US$9.42 billion over the same period last year, according to the General Department of Vietnam Customs.

Vietnam's stand at the 39th India International Trade Fair 2019
(Photo: Cong Thuong (Industry and Trade) Newspaper)

Of the figures, Vietnam's exports to the Indian market expanded 2 percent to US$ 5.80 billion while its imports from the vast market increased 4 percent to US$ 3.62 billion with trade surplus in the ten-month period reaching US$2.18 billion.

Mobile phones and components took the lead in export turnover with US$1.17 billion, up by 61.7 percent against last year’s corresponding period, followed by computers, electronic products at US$997 million, and machinery, equipment and spare parts at US$672.39 million.

The export of rattan, sedge and carpet products exceeded the US$10 million mark for the first time, up 123.2 percent on year, thus generating more jobs for labourers in rural areas.

Vietnam's dragon fruit exports to the South Asian nation in the first nine months of the year also rose 18.32 percent to US$ 4.16 million, against the same period last year, according to the India’s Ministry of Commerce and Industry.

Imports from India during the ten-month period hit US$3.62 billion, a year on-year increase of 4%. Notably, imports of iron and steel have seen the largest turnover with US$797.8 million, up 133.5 percent over the same period.

Cotton imports have plummeted 57 percent to only US$151.30 million while aquatic imports also dropped sharply by 44.7% to US$163.91 million.

Imports of auto parts and components reached US$152.51 million, up 16.4 percent, which is ranked in the top 5 most imported items.