Exports of rattan, bamboo and sedge from Vietnam to India increased by more than 1500%

Exports of Vietnamese goods to India in the past 5 months reached $ 2.75 billion, double the same period last year, while imports from India reached $ 1.71 billion …

There are 8 export commodity sectors of Vietnam to India with the growth rate of over 100% in the first 5 months of the year, of which the export of rattan, bamboo and carpet increased to 1549%.

The Vietnam Trade Office in India, according to the General Department of Customs, showed that the Vietnam – India bilateral trade in the first five months of 2018 reached US $ 4.46 billion, up 43.83% over the same period last year.

In which, exports from Vietnam reached 2.75 billion USD, doubled, while imports from India reached 1.71 billion USD, up 0.5% over the same period last year.

Notably, there are 8 export industries of Vietnam with the growth rate of over 100%, of which the machinery, equipment, tools and spare parts grew by 526.3% over the same period last year, reaching 937 , 93 billion USD and become the commodity with the largest export turnover of Vietnam to India up to now.

Export of mobile phones and components continued to maintain growth momentum, in the first 5 months of 2018, export of this category reached US $ 308.82 billion, up 47.5% over the same period, and is a commodity with export turnover is second largest after machinery and equipment.

Other items with impressive growth rates include: export of rattan products, carpet-rush up 1549%; exports of products from iron and steel increased by 272.3%, reaching 73.15 million USD; export of means of transport and spare parts increased by 227.9% to 118.12 billion USD; exports of plastic products rose 145.4%; exports of rubber products increased by 135.2% …

In the opposite direction, imports from India in the first 5 months of the year increased only 0.5% over the same period last year. In which, import of cotton of all kinds became the commodity line with the largest turnover, reaching $ 243 million, up 41.8%.

Other items with an increase in import turnover over the same period last year include auto spare parts, up by 247.4%; ore and other minerals, up 184.7%; common metal increased by 153.4%; plastic materials increased by 121.4%.

Meanwhile, according to India’s Ministry of Industry and Trade, in the first four months of 2018, the India-Vietnam bilateral trade reached US $ 4.46 billion, up 21.31% over the same period, of which, exports from India reached 2.26 billion USD, down 8.48% compared to 2.46 billion USD; imports from Vietnam reached 2.20 billion USD, up 82% compared to 1.21 billion USD in the same period.

Source: vneconomy.vn