Vietnamese export to India surgesUpdate: 6/29/2018
Vietnamese exports to India skyrocketed to over US$1 billion in the first 8 months of this year from US$ 95.9 million in 2005, according to the Ministry of Industry and Trade.
India has become one of top ten trade partners of Viet Nam, with the two-way trade surging to US$3.9 billion in 2011 from over US$1.5 billion in 2007. The average growth rate in the two-way trade in the 2007-2011 period was 34% a year, with an increase of 69% in export, and 25% in import.
Last year, Viet Nam exported mainly mobile phones, machines and spare parts, steel, natural rubber, coal, coffee, pepper, vehicles, computers, electronic goods and components, chemicals, plastic, ores, minerals, cashew nuts, wood, woodwork, garments and textiles to India.
Viet Nam and India have signed agreements on trade, double-taxation avoidance, investment protection, and some cooperation deals in environment, health, aviation, and mining.