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Export of Vietnam rattan and sedge to India increased by over 1500%

Export of Vietnam rattan and sedge to India increased by over 1500%

Friday 18, 10 2019
Arcording to Vietnam Trade Office in India, in the first five months of 2018, India-Vietnam bilateral trade reached $ 4.46 billion, up 43.83 % year-on-year.
There are 8 sectors of Vietnam exporting to India with growth rate of over 100% in the first 5 months, of which export turnover of rattan and sedge up to 1549%.

Arcording to Vietnam Trade Office in India, in the first five months of 2018, trade of Vietnam - India reached $ 4.46 billion, up 43.83 % year-on-year. In particular, export value from Vietnam reached $ 2.75 billion, doubling, while imports from India reached $ 1.71 billion, up 0.5% over the same period last year.

Noticeably, there are eight sectors of Vietnam with growth rate of over 100%, of which machinery, equipment and spare parts increased of 526.3% over the same period last year reached USD 937.93 billion and became commodity with the largest export turn over of Vietnam to India at the present time.

In the first five months of 2018, export turnover of mobile phones and components reached USD 308.82 billion, an increase of 47.5% over the same period last year make it become the second largest export turnover after machinery and equipment.

Other items with impressive growth include Rattan and sedge products; Iron and steel; Vehicles and spare parts; Plastic products; Rubber products...

On the other hand, import turnover from India in the first five months increased only 0.5% over the same period last year. In particular, cotton is the highest import turnover commodity, reaching $ 243 million, up 41.8%.

Other items with an increase in import value y – o - y include: auto parts; ores and minerals; metals; Raw materials.

According to the Ministry of Industry and Trade of India, in the first four months of 2018, India-Vietnam bilateral trade reached $ 4.46 billion, up 21.31% over the same period. Export turnover from India totaled $ 2.26 billion, down 8.48% and Imports from Vietnam reached $ 2.20 billion, increasing of 82% compared to the same period.

 
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