Morocco Report
  • Automotive
  • Business
  • Entertainment
  • Health
  • Lifestyle
  • Luxury
  • News
  • More
    • Sports
    • Technology
    • Travel
Reading: Vietnam-India bilateral trade reached record levels in 2022
Share
Aa
Morocco Report
Aa
Search
  • Automotive
  • Business
  • Entertainment
  • Health
  • Lifestyle
  • Luxury
  • News
  • More
    • Sports
    • Technology
    • Travel
© 2022 Morocco Report | All Rights Reserved
Morocco Report > Business > Vietnam-India bilateral trade reached record levels in 2022
Business

Vietnam-India bilateral trade reached record levels in 2022

February 1, 2023
Share
SHARE

There was a 13.6% yearly increase in two-way trade between Vietnam and India in 2022, according to statistics from the General Department of Customs, which were quoted by the Vietnam News Agency (VNA). The value of Vietnam’s exports to India last year topped $7.96 billion, a 26.8% increase over the same period last year.

Vietnam-India bilateral trade reached record levels in 2022In terms of total export value, mobile phones and accessories made up nearly 20% of the total export value. This is thanks to a turnover of $1.52 billion, up 18.4%. This makes up nearly half of total exports. With $1.03 billion, computers, electronics, and parts had the highest growth rate of 25% followed by machinery and equipment with $804 million, which is an increase of over 10%.

As for the other staples with the highest value increase, they were coffee with a 165% increase, iron and steel (97%), and footwear (96%). The export value of some items, however, decreased significantly, such as animal feed and raw materials, where the export value dropped by 76.5% to $23.04 million. In addition, the value of coal exports decreased by 46% to $7.68 million.

The data shows that Vietnam imported $7.09 billion worth of goods from India last year, an increase of 2% compared to the previous year. With nearly $775 million in imports, iron and steel was the most significant commodity on the market, followed by machinery and equipment ($549.3 million) and ordinary metals ($515 million). Aside from trade, the resumption of direct air routes between the two countries also led to the expansion of bilateral cooperation in tourism and investment.

You Might Also Like

From India to Brazil, leadership transition marks G20 Summit’s conclusion

African Union Inducted into G20 on India’s Initiative

Biden and Modi cement ties as India ascends global stage

Digital work revolution sees the world’s gig economy expand by 12 percent

ASEAN Summit in Jakarta sees PM Modi advocating India’s growing global impact

Editor February 1, 2023
Share this Article
Facebook TwitterEmail Print
Previous Article Djokovic tops ATP rankings, Sabalenka No. 2
Next Article Outstanding operational performance by Etihad Cargo in 2022

Latest News

UAE and India discuss strategic ties at UNGA78 in New York
News
Leaders of UAE and Netherlands convene to reinforce mutual cooperation
News
UN calls for greater female representation in police forces worldwide
News
Africa faces skyrocketing costs of climate change, projected to reach $440 billion
News
Revolutionary acoustic study sets new standard for marine conservation in the UAE
News
MENA Newswire reconfigures the algorithm of organization generated content
News

You Might Also Like

News

UAE and India discuss strategic ties at UNGA78 in New York

September 26, 2023
News

Leaders of UAE and Netherlands convene to reinforce mutual cooperation

September 26, 2023
News

UN calls for greater female representation in police forces worldwide

September 8, 2023
News

Africa faces skyrocketing costs of climate change, projected to reach $440 billion

September 5, 2023

© 2022 Morocco Report | All Rights Reserved

  • Home
  • Contact Us
Welcome Back!

Sign in to your account

Lost your password?