Phone exports to India increase by 96%

The structure of the group of phones and the commodity groups with the largest turnover in the total export value to India by the end of June 2019. Sketched by T.Bình.

According to the export market update of the General Department of Vietnam Customs, by the end of June, Vietnam's total export turnover to India reached $3.41 billion, increasing by 2% compared to the figure of $3.34 billion from the same period last year.

In line with the general growth rate to this South Asian country, the export turnover of phones increased dramatically.

Specifically, in the first six months of the year, the value of phones and components exported to India reached $743.46 million, increasing by over 96% compared to the same period last year ($378.58 million).

In the context of the first months of 2019, the export of phones to many markets sufferred from negative growth or only increased slightly.

This strong growth has helped the group of phones and accessories to surpass the group of machinery, equipment and tools to become Vietnam's largest export to this important market.

By the end of June, the group of phones and accessories accounted for 21.8% of Vietnam's total export turnover to India.

The reason for the stepping down of the group of machinery, equipment and spare parts was not only the strong growth of phones and components but also caused by the decline of the group.

By the end of June, the export turnover of machinery, equipment and spare parts reached only $417 million, equivalent to 39% of the turnover of the same period last year (a decrease of $657 million compared to the same period last year which reached $1.074 billion).

In addition to the above two groups, by the end of June, there were three export groups achieving turnover of $100 million or more in the Indian market, including computers, electronic products and components; other common metals and products; chemistry.

In particular, computers, electronic products and components reached $521 million, growing 71% over the same period last year. The turnover of chemistry reached $191.5 million, increasing by 24.1% over the same period in 2018.

However, other metals and products were almost unchanged with turnover of $309.4 million, while the same period last year was $309.3 million.

With a total value of more than $2.182 billion, five groups of "hundred million USD" accounted for nearly 64% of Vietnam's total export turnover to India in the first half of 2019.