Exports of goods to India in 2023 will still grow by 6.7% compared to 2022, reaching 8.5 billion USD, one of the few markets achieving positive growth.
According to statistics from the General Department of Customs, the export turnover of Vietnamese goods to India in December 2023 reached 702.5 million USD, down 3.6% compared to the previous month. Overall, in 2023, it will reach more than 8.49 billion USD, an increase of 6.7% over the same period last year.
Leading the export turnover in 2023 is the group of computers, electronic products, and components reaching 1.94 billion USD, an increase of 88.2% over the same period last year, accounting for 22.9% of the export turnover.
Next is the group of all kinds of phones and components reaching 1.03 billion, accounting for 12.2% proportion.
In 2023, the export turnover of some product groups will increase compared to the same period last year: Iron and steel of all kinds increased by 319.3%; Wood and wood products increased by 287.3%; rubber products increased by 65.7%.
India is currently Vietnam's largest trading partner in South Asia, accounting for nearly 80% of Vietnam's exports to this region.
Trade is an important pillar in Vietnam - India bilateral relations, continuously achieving steady growth over the past 20 years. Bilateral relations from about 200 million USD in 2000 have reached 15 billion USD in 2022, making India one of Vietnam's top 8 trading partners, while Vietnam is in the top 4 ASEAN countries with trade relations with India.
Vietnam's export turnover to India in 2022 will reach 8 billion USD, an increase of 26.8% compared to 2021. Vietnam's exports to India account for 2.1% of Vietnam's total export turnover. Male.
Vietnam's import turnover from India reached 7.1 billion USD, an increase of 1.8% compared to 2021. Vietnam's imports from India account for 2% of Vietnam's total import turnover. Vietnam's trade surplus to India is worth 875.1 million USD, down 228.1% compared to 2021
The structure of import and export products is balanced and complementary. While India is an important source of raw materials and finished products for Vietnam for iron and steel, chemicals, pharmaceuticals, textiles, animal feed, and seafood, the top export product group from Vietnam to India is personal computers; mobile phones and components, iron and steel, chemicals, wood and wood products, shoes, spices, coffee, pepper...
Exporting goods to the Indian market in 2024 still opens up opportunities for Vietnamese businesses, when consumer demand in the market of 1.4 billion people gradually recovers and regains growth momentum after the pandemic.
(Bao dau tu)