According to data from the General Department of Vietnam Customs, in the first 11 months of 2017, total import-export turnover between Vietnam and India reached 6.86 billion [...]
According to data from the General Department of Vietnam Customs, in the first 11 months of 2017, total import-export turnover between Vietnam and India reached 6.86 billion USD, an increase of 41.45% compared to 4.85 billion USD, of which, exports reached 3.37 billion USD, an increase of 38.01%; Imports reached 3.49 billion USD, up 44.94% over the same period last year. It is hoped that bilateral trade in 2017 will reach 7.4 - 7.5 billion USD.
In terms of industry structure and basic growth rate, it is still the same as previous reports, iron and steel exports of all types grew the strongest, up 1386.09%; Next, coal products increased by 351.24%; plastic products increased by 106.16%; Other base metals and products increased by 96.04%…
Export of products with large turnover still maintains a good growth rate, export of all types of phones and components reached 508.80 million USD, an increase of 46.14%; Export of computers, electronic products and components reached 460.84 million USD, an increase of 69.95%; Export of other base metals and products reached 415.90 million USD; Export of machinery, equipment and spare parts reached 296.37 million USD, an increase of 19.76%; Chemical exports reached 222.56 million USD, an increase of 21.63%.
There are 06 out of 28 export industries whose turnover decreased over the same period. However, these items have a small turnover and the decrease rate is not high. Notably, pepper exports decreased by 8.61% to 72.41 million USD compared to 79.23 million USD in the same period.
On the contrary, imports of iron and steel of all kinds also increased rapidly, the total import value of this item in 11 months reached 721.32 million USD, an increase of 628.87% compared to 98.96 million USD in the same period; Imported machinery, equipment, tools and spare parts reached 465.73 million USD, an increase of 28.75%; Imported aquatic products reached 327.99 million USD, an increase of 38.54%; Pharmaceutical imports reached 255.93 million USD, up 3.42%; Cotton imports of all kinds reached 245 million USD, an increase of 80.07%.
There were 7 out of 30 import industries whose turnover decreased, of which, fertilizer imports of all kinds decreased by 41.68%; Paper imports of all kinds decreased by 35.90%, corn imports decreased by 34.44%.
According to data from the Indian Ministry of Industry and Trade, the total bilateral trade turnover between India and Vietnam in the first 9 months of 2017 reached 8.52 billion USD, an increase of 37.43% compared to 6.20 billion USD in the same period last year, of which, India exported 5.49 billion USD, an increase of 38.87%; Imports were 3.03 billion USD, up 34.89% over the same period. If the current growth momentum continues, trade between the two countries will reach 11.36 billion USD this year.
Bilateral investment
According to data from the Foreign Investment Agency - Ministry of Planning and Investment, the total amount of new investment capital, capital increases and share purchases by Indian investors in Vietnam in the first 11 months of 2017 reached 184.01 million USD, India ranked 17th out of 112 countries and territories investing in Vietnam since the beginning of the year.
Accumulated Indian investment projects in Vietnam that are valid as of November 20, 2017 are 168 projects, with a total capital of 756.29 million USD. India ranked 27th out of 126 countries and territories investing in Vietnam.
Procedures
