In 2013, the Vietnam - India Commercial Joint Sub-Committee was established and successfully held the first meeting of the Sub-Committee on November 18, 2013 in New Delhi, India.
Export turnover between Vietnam - India
Unit: million USD
|
Year |
Total turnover |
Export |
Import |
Balance Commerce |
|
2008 |
2.483 |
389 |
2.094 |
-1.705,0 |
|
2009 |
2.055 |
420 |
1.635 |
-1.215,0 |
|
2010 |
2.755 |
993 |
1.762 |
-769,0 |
|
2011 |
3,900 |
1.554 |
2.346 |
-792,0 |
|
2012 |
3.943 |
1.782 |
2.161 |
-379,0 |
|
2013 |
5.237 |
2.354 |
2.883 |
-529,0 |
Source: General Department of Customs
Main export items of Vietnam to India: mobile phones; machinery and equipment and spare parts; computers, electronic products & components; coffee, natural rubber, pepper, means of transport and parts, chemicals, plastics raw materials and products, ores and minerals, cashew nuts, wood and wood products, textile products, fibers , litchi, cinnamon….
Imported items from India: animal feed and raw materials, modern medicines, corn kernels, cotton of all kinds, machinery, equipment and spare parts, chemical products, raw materials for textiles and footwear, fibers of all kinds, plastic raw materials, pesticides, chemicals...
In the trade exchange between the two countries, the trade balance is still tilted towards India, but the fact that in the past 5 years shows that the trade deficit is narrowing. In 2008, the deficit was 1.7 billion USD, by 2013, the trade deficit stood at 529 million USD. More and more Vietnamese goods with high added value are exported to the Indian market such as mobile phones, computers, electronic products and components, chemical products, plastic raw materials. and products from plastic, steel billet...besides traditional export products such as pepper, rubber, footwear...will contribute to gradually narrowing the trade balance in the coming time.
Besides, Vietnam's exports to India have had a more favorable legal environment when the ASEAN-India Free Trade Agreement took effect in 2010 and India officially recognized Vietnam as a country. having a full market economy after many lobbying efforts of the Vietnamese side, contributing to bringing our export goods deeper into the Indian market where there are many protective barriers as well as the frequent use of trade defense tool.
Source http://www.ttnn.com.vn/
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