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India-China Trade Grew To Over $67 Billion As Chinese Exports Increases

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India-China Trade Grew To Over $67 Billion As Chinese Exports Increases
14 Jul 2022
6 min read

News Synopsis

India-China trade increased to USD 67.08 billion in the first half of this year amid a significant increase in Chinese exports, according to official trade figures issued yesterday, putting it on track to surpass USD 100 billion for the second straight year.

According to trade data issued by China's General Administration of Customs (GAC), exports from China to India increased to USD 57.51 billion, up 34.5 percent from the previous year, while exports from India to China decreased to USD 9.57 billion, down 35.3 percent from last year (GAC). At the halfway point of the year, the trade imbalance was USD 47.94 billion.

The bilateral commerce between China and India reached a record high of over USD 125 billion last year, surpassing the USD 100 billion barriers in a year when relations reached a new low owing to the military stalemate in Eastern Ladakh. In 2021, India's trade deficit increased by USD 69.38 billion.

China insisted in May that it will continue to be India's largest trading partner in 2021–2022, despite rumors that the US had displaced it to take the top spot. Beijing ascribed the discrepancy to the various ways that Beijing and New Delhi calculate the volume of trade.

When asked about rumors that the US would surpass China to overtake it as India's top trading partner in 2021–2022, Chinese Foreign Ministry spokesman Zhao Lijian responded, "According to the statistics of Chinese competent authorities, bilateral trade volume between China and India stood at USD 125.66 billion in 2021."