India-Viet Nam Bilateral Trade Analysis 2023
Complete trade statistics: $15.29B total volume •India deficit: $3.99B
India → Viet Nam
$5.65B
Exports (2023)
Viet Nam → India
$9.64B
Imports (2023)
Trade Balance
$3.99B
Deficit for India
Total Trade
$15.29B
Combined Volume
Trade Flow Visualization
Direct trade relationship between India and Viet Nam. Green line shows exports from India, red line shows imports.
Detailed Product Trade Analysis
Comprehensive breakdown of trade flows by product category, revealing the specialized nature of the India-Viet Nam commercial relationship and competitive positioning in global markets.
India → Viet Nam Exports
Export Market Intelligence
🎯 Strategic Export Focus
India's export portfolio to Viet Nam demonstrates strong diversification across multiple sectors, with meat: of bovine animals, boneless cuts, frozen representing a key competitive advantage in this bilateral market.
Viet Nam → India Imports
Import Dependency Profile
📦 Import Strategy Analysis
India's import pattern from Viet Nam reveals strategic sourcingin electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), highlighting complementary economic structures and potential supply chain optimization opportunities.
Competitive Trade Position Analysis
Market Leadership
India demonstrates competitive strength in exportingmeat: of bovine animals, boneless cuts, frozen to Viet Nam, leveraging comparative advantages.
Trade Complementarity
The bilateral relationship showsstrongcomplementarity, with each country specializing in different sectors.
Growth Potential
The $15.29B trade volume indicates substantial economic integration with room for expansion in emerging sectors.
Executive Summary: India-Viet Nam Trade Relationship
Key Trade Highlights 2023
- Total Trade Volume: $15.29 billionrepresenting a significant bilateral economic relationship
- Trade Balance: India maintains a deficit of $3.99 billion
- Export Focus: India's primary exports include meat: of bovine animals, boneless cuts, frozen, cereals: maize (corn), other than seed, crustaceans: frozen, shrimps and prawns, excluding cold-water varieties, in shell or not, smoked, cooked or not before or during smoking: in shell, cooked by steaming or by boiling in water
- Import Dependencies: Key imports from Viet Nam include electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), television cameras, digital cameras and video camera recorders, telephone sets and other apparatus for the transmission or reception of voice, images or other data, via a wired or wireless network: parts
Strategic Trade Indicators
📈 Market Position: This bilateral trade relationship represents a significant global trade partnerships, with complementary economic strengths driving sustained commercial exchange.
Historical Trade Analysis & Economic Context
Trade Evolution Timeline
2019-2023: Recent Trends
Current trade volume of $15.29B represents the culmination of evolving bilateral commercial relationships, influenced by global supply chain shifts and changing economic priorities.
2015-2019: Growth Period
Sustained expansion in bilateral trade driven by complementary economic structures, with India leveraging its comparative advantages in meat: of bovine animals, boneless cuts, frozen.
2010-2015: Foundation Building
Establishment of modern trade frameworks and reduction of barriers, facilitating increased commercial exchange and investment flows between the two economies.
Pre-2010: Early Development
Initial stages of bilateral trade relationship development, with focus on traditional export-import patterns and gradual market integration.
Key Economic Drivers
Comparative Advantage
India's specialization in meat: of bovine animals, boneless cuts, frozencomplements Viet Nam's demand patterns, creating natural trade synergies.
Supply Chain Integration
Deep integration in global value chains has strengthened bilateral linkages, particularly in electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led).
Market Access & Trade Policy
Favorable trade agreements and market access conditions have facilitated the growth of this $15.29B bilateral relationship.
Trade Pattern Insights
Trade Relationship Outlook
The $15.29B bilateral trade volume positions this relationship for continued growth, supported by technological advancement, evolving consumer preferences, and strengthening economic ties. Key opportunities lie in expanding cooperation in emerging sectors while managing potential supply chain vulnerabilities.
Economic Impact & Strategic Outlook
Economic Impact Assessment
Trade Volume Impact
The $15.29 billion bilateral trade volume represents a significant economic factorfor both economies.
Industrial Integration
Trade flows in meat: of bovine animals, boneless cuts, frozen and electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led) demonstrate deep industrial linkages and supply chain integration.
Trade Balance Effects
India's trade deficit of $3.99 billion impacts its overall economic position in this bilateral relationship.
Strategic Future Outlook
🚀Growth Opportunities
⚠️Risk Factors
🎯Strategic Recommendations
- Strengthen cooperation in high-value sectors beyond current trade patterns
- Develop alternative supply chains to reduce dependency risks
- Explore joint ventures in emerging technology sectors
- Enhance trade facilitation and reduce transaction costs
Market Position & Competitive Summary
The bilateral trade relationship between India and Viet Nam represents a total trade volume of $15.29 billion in 2023. This partnership demonstrates an unfavorable trade balance for India, with imports exceeding exportsby $3.99 billion.
Export Strengths
India's exports to Viet Nam total $5.65 billion, with competitive advantages in meat: of bovine animals, boneless cuts, frozen, representing $565.38M or10.0% of bilateral exports.
Import Dependencies
Imports from Viet Nam amount to $9.64 billion, highlighting economic interdependence in electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (led), with Electrical apparatus: photosensitive, including photovoltaic cells, whether or not assembled in modules or made up into panels, light-emitting diodes (LED) comprising10.0% of total imports.
The trade relationship reflects broader economic patterns and comparative advantages. The trade deficit indicates India's strategic sourcing from Viet Nam. This partnership is characterized by complementary trade flows, with each country specializing in different product categories based on their respective economic strengths, industrial capabilities, and position in global value chains.
Download Bilateral Trade Data
Access detailed trade data between India and Viet Nam in multiple formats.
Data Source: CEPII BACI (Base pour l'Analyse du Commerce International) • Last Updated: January 2025 • Coverage: 1995-2023