Performance of India and Vietnam in foreign trade sector

The exports of Vietnam increased from US$ 15 billion 2001 to $132 billion in 2013 i.e. by about 9 times during the 12 years and to $150 billion in 2014 i.e. by  10 times in 13 years. On the other hand  exports from India increased from $44 billion in 2001-2002 to $ 313 billion in 2013-14 i.e only by about 7 times. While in 2001, India’s exports were about 3 times that of Vietnam, in 2013, it is only about 2.5 times.

As regards imports, Vietnam’s imports increased from $16.2 billion in 2001 to $131 billion in 2013 i.e by about 7 times and in 2014 to $148 billion i.e. by about 9 times in 13 years. Imports have grown at a lower rate than those of exports. But imports into India increased from $51 billion in 2001-02 to  $450 billion in 2013-14 i.e by about  9 times.Imports have grown at a higher rate than exports.

While trade balance in Vietnam became surplus of $0.9 in 2013 from deficit of $1.2 billion in 2001, In India trade balance grew from a deficit of $7.6 billion in2001-02 to trade deficit of $137 billion in 2013-14.

The above figures show that on the foreign trade front, India’s performance is poor compared to that of Vietnam.

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