The two-way trade turnover between Vietnam and India hit approximately $15 billion in 2024, up 4.5% from 2023, according to  report from the Vietnam Customs.

Vietnam's exports to India totaled $9.06 billion, a 7.6% rise, while its imports from India stood at $5.83 billion, a slight decline of 0.6%.

As a result, the trade surplus stood at $3.2 billion in favor of Vietnam, thanks to its robust growth in key export sectors.

Vietnam's export to India is increasingly diversifying across various industries, with high-tech products and agricultural goods continuing to be pivotal sectors.

In terms of export composition, telephones and components led the way with a turnover of $1.68 billion, reflecting a modest 4.5% increase and accounting for 17.5% of total export turnover. Computers, electronic products, and components followed closely with a turnover of $1.50 billion, representing 15.6% of total exports. Machinery, equipment, tools, and spare parts also featured prominently with a turnover of $947 million, contributing 9.8% to the export portfolio.

Several other export sectors saw significant growth in 2024. Agricultural products and wood and wood products reached $212.57 million, an impressive 18% surge. Specific items like pepper, tea, and seafood experienced notable growth rates of 9.3%, 18.7%, and 12.1%, respectively, underscoring the strong demand from the Indian market.