China exports to India increases by 31%
The India-China bilateral trade has increased by 14.6% on the year to US$103.63 billion in the first nine months of this year, according to latest data from China’s General Administration of Customs (GAC).
China’s 9-month exports to India grew by 31% to US$89.66 billion, the data showed.
However, India’s exports during the nine months of 2022 declined by 36.4% to US$13.97 billion, resulting in a trade deficit of over US$75.69 billion.
The India-China bilateral trade hit a record high of over US$125 billion last year, according to GAC data widely reported by the Indian media on 26 Oct 2022.
China’s 2021 exports to India went up by 46.2% to US$97.52 billion while Indian shipments to China increased by 34.2% to US$28.14 billion, leaving India with a trade deficit of US$69.38 billion.
This is the second year that bilateral trade between the two countries crossed over US$100 billion despite many differences and tension over their common border, according to the media reports. fiinews.com
