Home breadcru News breadcru Import/Exports breadcru Bilateral trade between India, China crosses $100 bn in Jan-Sep 2022

Bilateral trade between India, China crosses $100 bn in Jan-Sep 2022

27 Oct '22
1 min read
Pic: Shutterstock
Pic: Shutterstock

Bilateral trade between India and China trade in the first nine months this year was worth $103.63 billion, registering a 14.6 per cent increase compared to the same period last year. It crossed $100 billion for the second consecutive year. India’s trade deficit with China rose to over $75 billion during the period, according to Chinese customs statistics.

China's exports to India climbed to $89.66 billion during the period—a rise of 31 per cent, data released by China’s General Administration of Customs (GAC) showed. India’s exports to China in the past nine months, however, stood at $13.97 billion, registering a decline of 36.4 per cent.

Last year, bilateral trade hit a record high of over $125 billion. China's exports to India in 2021 went up by 46.2 per cent to $97.52 billion, while the latter’s exports to the former grew by 34.2 per cent to $28.14 billion, a news agency reported.

The trade deficit for India stood at USD 69.38 billion in 2021. 

ALCHEMPro News Desk (DS)

Get Free Weekly Market Insights Newsletter

Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!