Bilateral trade between India and China trade in the first nine months this year was worth $103.63 bn, registering a 14.6 percent increase compared to the same period last year. It crossed $100 bn for the second consecutive year. India’s trade deficit with China rose to over $75 bn during the period, according to Chinese customs statistics.
China’s exports to India climbed to $89.66 bn during the period—a rise of 31 percent, 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 bn, registering a decline of 36.4 percent.
Last year, bilateral trade hit a record high of over $125 bn. China’s exports to India in 2021 went up by 46.2 percent to $97.52 bn, while the latter’s exports to the former grew by 34.2 percent to $28.14 bn, according to a report. The trade deficit for India stood at $ 69.38 bn in 2021.
