India-China Trade Crosses $100 Billion From January to September; Trade Deficit Surpasses $75 Billion
- Despite the military standoff in eastern Ladakh, total bilateral trade between Inida & China increased to USD 103.63 billion, representing a 14.6% growth over the same period previous year.
- China’s exports to India increased by 31% to USD 89.66 billion, according to figures issued by China’s General Administration of Customs (GAC).
- However, India’s exports in the last nine months totaled USD 13.97 billion, a 36.4 percent decrease.
- As a result, the total trade deficit increased to more than USD 75.69 billion.
- Last year, China’s exports to India increased by 46.2% to USD 97.52 billion, while India’s exports to China increased by 34.2% to USD 28.14 billion.
- In 2021, India’s trade deficit was USD 69.38 billion.