Vietnam-India bilateral trade set a new record of $15 billion
Exports to India totaled $7.96 billion, a 26.8% increase from $6.28 billion in 2021. Phones and components had the greatest value, with $1,522 billion, up 18.4% from $1.285 billion in 2021; computers, electronic items, and components were second, with $1,522 billion, up 18.4% from $1.285 billion.
Coffee has the highest value increase compared to 2021, increasing by 164.7 percent from $21.69 million in 2021 to $57.40 million in 2022, followed by iron and steel of all kinds, increasing by 96.8% from $113.46 million in 2021 to $171.10 million in 2022; and footwear of all kinds, increasing by 96.8% from $113.46 million to $223.35 million in 2022.
Animal feed and raw materials saw the greatest reduction in export value, falling 76.5% from $98.18 million to $23.04 million, followed by coal, which fell 46.4% from $14.31 million in 2021 to $7.68 million in 2022.
Total import value from India in 2022 was $7.09 billion, up 1.8% from $6.96 billion in the same time the previous year.
Import of iron and steel of all kinds reached the highest value of $774.68 million, however, import turnover decreased sharply compared to 2021, down 44.6% compared to $1.4 billion in the same period last year.
Import of machinery, equipment, tools and other spare parts ranked second with $549.31 million, up 28.3% compared to $428 million in 2021.
Imports of other common metals reached $515 million, up 26.3% from $428 million in 2021.
Wheat imports increased by more than 1700% to $27.21 million in 2022, up from $1.46 million in 2021.
Imports of complete CBU cars of all types increased by 181.1%, reaching 35 million in 2022, up from $12.46 million in 2021; and imports of vegetables and fruits increased by 80% to $53.45 million, up from $29.72 million in the same period last year.
In terms of the structure of imported products, iron and steel of all sorts account for 11% of total import turnover in 2022, followed by machinery, equipment, tools, and other spare parts, which account for 7.75% of the percentage, and metal products, which account for 7.3%.
Imports of computers, electronic equipment, and components fell substantially, with the overall import value in 2022 falling by 53.3% from $79.9 million in 2021; imports of all types of paper fell by 50.4%, while imports of iron and steel fell by 44.6%.
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Khanh Vu and Francesco Guarascio