India’s trade with China surpasses $100 billion in January-September; Trade deficit widens to $75 billion


New Delhi: Bilateral trade between India and China surpassed $100 billion for the second straight month in the first nine months of 2022, while India’s trade deficit surged to more than $75 billion, according to China Customs trade figures.

Total bilateral trade rose to $103.63 billion during the military confrontation in East Ladakh, up 14.6% from the same period last year.

According to the China Customs Administration (GAC), exports from China to India rose 31% to US$89.66 billion.

However, India recorded a 36.4% loss of its exports to US$13.97 billion in the previous nine months.

The overall trade deficit increased as a result, reaching approximately $75.69 billion.

In a year when relations between the two countries hit a new low due to the military standoff in East Ladakh, bilateral trade between the two countries hit a record high of over $125 billion last year, breaking the threshold of 100 billion US dollars.

China’s exports to India grew 46.2% to $97.52 billion last year, while India’s exports to China rose 34.2% to $28.14 billion.

In 2021, India’s total trade deficit was US$69.38 billion.

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