Vietnam-India trade hits US$15 billion in 2024
VOV.VN - Two-way trade between Vietnam and India reached approximately US$15 billion in 2024, marking an annual increase of 4.5%, the General Department of Vietnam Customs reported.
Of the total value, Vietnamese exports amounted to US$9.06 billion, up 7.6%, and its imports fell 0.6% to US$5.83 billion, resulting in a trade surplus of US$3.23 billion.
Phones of all types and components made up the largest share of Vietnamese exports to India last year, fetching US$1.68 billion, or 17.5% of its export value.
They were followed by computers, electronic products, and spare parts with a turnover of US$1.5 billion, whilst machinery and other tools were worth US$947 million.
Statistics show bilateral trade has steadily grown over the past 25 years, from just around US$200 million in 2000 to US$15 billion in 2024, making India one of Vietnam’s eight most important trading partners.
Meanwhile, Vietnam is also one of four ASEAN countries to have the closest trade relations with India. In ASEAN, India is Vietnam's largest trading partner, accounting for nearly 80% of the country’s total export turnover to this region.
