CLMV Countries Chapter

Strategic Ties between India and CLMV Countries

Since CLMV are lesser developed economies, characterized with untapped potential for development, they offer more scope for scaling up economic linkages with India. They have also displayed tremendous GDP and GDP per capita growth dynamism in recent years. The development divide between the CLMV region and the rest of the ASEAN region is also evident. Thus, a better understanding of CLMV economies is needed, also as their developmental challenges are similar to India.

During the last ten years, India’s total trade with the CLMV countries has grown from US$ 1.4 billion in 2005 to US$ 10.3 billion in 2015, indicating a more than seven-fold increase. India’s exports to CLMV increased by more than eight-fold from US$ 0.8 billion in 2005 to US$ 6.4 billion in 2015, thereby accounting for 24.3 per cent share in India’s exports to ASEAN. India’s imports from CLMV, on the other hand, increased by nearly sixfold from US$ 0.6 billion in 2005 to US$ 3.9 billion in 2015, thereby accounting for 9.4 per cent share in India’s imports from ASEAN.

The CLMV region grew at an average rate of 7.1 per cent in 2015, as compared to ASEAN’s average economic growth of 4.8 per cent in the same year.

Challenges & Assets of CLMV Countries

CLMV Countries

GDP and Population Growth in CLMV Countries

Country GDP Current Price 2016 (billion in USD) Population 2016 (mn)
Cambodia 19.4 15.8
Laos 13.8 7.2
Myanmar 68.3 52.3
Vietnam 200.5 92.6
CLMV Share in ASEAN 11.8% 26.3%

*Source: ERIA Publicatons

Comparative Chart India and CLMV

Country GDP (Balance of Trade) (million in USD) Service Export Largest Trading Partner
India 321596 156209 China
Cambodia 10800 4014 China
Laos 2650 781 Thailand
Myanmar 11030 2271 China
Vietnam 150475 10970 China

*Source: United Nations Conference on Trade and Development Report 2015, MIT Atlas of Economic Complexity, CIA World Factbook, World Bank and IMF

Internet Penetration in CLMV Countries

CLMV Countries