Bilateral merchandise trade Relations between Vietnam – India has been having increasingly better developments in quality and quantity, especially since 2010, the Agreement on Trade in Goods of ASEAN – India (AITIG ) began to take effect.
Our statistics show that in the period 2010 – 2014, bilateral trade turnover between the two countries continued to achieve positive growth, up from USD 2.75 billion in 2010 to $ 2-fold increase 5.62 billion by 2014.
Entering 2015, the trade turnover between the two countries reached $ 5.1 billion, down 8.8% from a year earlier mainly due to Vietnam’s reduction in importing commodities such as: Seafood; ball; materials for the textile, garment, leather and footwear; animal feed and raw materials, …
For years, the trade in goods between the two countries are always unbalanced in favor of the deficit with Vietnam. But by 2015, the deficit was narrowed to 184 million level. Specific data as shown in Chart 1.
The statistics in Table 1 below recorded in 2015, India was No. 17 merchandise export market of Vietnam’s, while in stark contrast, it is the No.11 import market of Vietnam. Thus, overall in 2015, India is the 15th largest trade partner of Vietnam.
Table 1: Density and ranking of exports, import and export turnover of Vietnam – India in 2014, 2015 and 7 May / 2016
| 2014 | 2015 | 2016 | |||||||
| Export | Import | Export and import | Export | Import | Export and import | Export | Import | Export and import | |
| Proportion in export and im port turnover | 1.7 | 2.1 | 1.9 | 1.5 | 1.6 | 1.6 | 1.6 | 1.6 | 1.6 |
| Position | 18 | 9 | 12 | 17 | 11 | 15 | 15 | 10 | 14 |
India’s position in the import-export activities of goods of Vietnam are increasingly being confirmed as the rankings in the May 7, 2016 has been improved. India is specifically markets 15th largest export source and 10th largest imports source of Vietnam. As a whole in the May 7, 2016, India’s rank was 14th.
The latest statistics show that, by the end of the month 7/2016, total two-way trade turnover between Vietnam – India reached USD 2.97 billion, a slight decrease of 1.9% compared to the same period in 2015. Of these, the total value of goods Vietnam imported from India is close to 1.47 billion dollars, down 6.8% and exports to this market is $ 1.5 billion, an increase of 3.4% compared to 7 months / 2015.
In the 7 months in 2016, Vietnam’s main exporting items to the Indian market were computers, electronic products, telephones and components; machinery, equipment, tools and accessories; chemistry,…
Meanwhile, the main import commodities that Vietnam imports from this market are: Machinery and equipment, instruments and accessories; medicine; Seafood; ball; textile raw materials; …
