VIETNAM-INDIA TRADE POSTS STRONG GROWTH

HANOI, Vietnam -- Vietnam's total export-import turnover to India reached US$4.24 billion in the first seven months of this year, representing a year-on-year rise of 42.95 per cent, Vietnam News Agency (VNA) reported.

Of the figure, export value was US$2 billion, up 34.1 per cent, while import stood at 2.24 per cent, up 51.9 per cent, according to the General Department of Vietnam Customs.

Exports of iron and steel saw an impressive growth of 991.4 per cent, followed by tea; 565.8 per cent; coal, 424.1 per cent; and plastic materials, 105.2 per cent.

Vietnam's imports of Indian iron and steel products also surged 1.040 per cent against the same period last year. The imports of animal and vegetable oils increased 227.8 per cent; vegetables, 121 per cent; and animal feed and raw materials, 83.8 per cent.

Notably, Vietnam ran a trade surplus with India in June and July with values increasing each month.

Source: NAM NEWS NETWORK