Among staples, machinery, equipment and parts recorded the strongest
According to statistics released by the General Department of Viet Nam Customs, two-way trade between Viet Nam and India experienced a year-on-year rise of 40% to reach US$10.69 billion in 2018.
The increase was mainly due to the value of Vietnamese exports hittingUS$6.54 billion, up 74.2%against 2017.
Mobile phones and parts came next at more thanUS$814 million, up 49.16%, followed by computers, electronics and parts at US$800 million, up 63.04%, and metal and metal-made products at nearlyUS$578 million, up 23.49%.
Among staples, machinery, equipment and parts recorded the strongest turnover with nearlyUS$1.7 billion, up close to 427%year-on-year.
Meanwhile, VietNam importedUS$4.15 billion worth of goods from India, a year-on-year rise of 6.95%, mostly production materials and machinery and parts.
Recently, India has imported rattan products and carpets from VietNam at a rapid pace, up 15.9 times.
Staples with export growth exceeding 100 % included steel and plastic products, transport means and spare parts.
The two countries have set a target of reaching US$15 billion in bilateral trade by 2020.
India was one of Viet Nam’s three export markets posting the highest growth,totallingmore than 20% during January-September, along with China and the Republic of Korea (RoK)./.