Vietnam-India trade reaches US$15 billion in 2024

Trade between Vietnam and India reached approximately US$15 billion in 2024, reflecting a 4.5 per cent increase from the previous year, according to the General Department of Vietnam Customs. This is reported by Vietnam News Agency, a partner of TV BRICS.

Vietnam’s exports to India rose by 7.6 per cent year-on-year to US$9.06 billion. This resulted in Vietnam maintaining a trade surplus of US$3.2 billion with India, a 22.2 per cent increase compared to 2023.

Leading Vietnam’s exports were mobile phones and components, generating nearly US$1.7 billion in revenue, up 4.5 per cent, and accounting for 17.5 per cent of total exports. Computers, electronic products, and components followed closely at US$1.5 billion, making up 15.6 per cent of export value. Machinery, equipment, and spare parts reached US$947 million, reflecting sustained demand from India’s industrial sector.

Several other key sectors recorded double-digit growth in 2024, including tea, timber, seafood, rubber products, textiles, and agricultural goods.

On the import side, India’s share in Vietnam’s total import turnover stood at 1.55 per cent, with key imports including raw materials and industrial goods.

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