According to yearly Chinese customs data, commerce between India and China would reach $135.98 billion in 2022, surpassing the $125 billion milestone a year earlier by reporting an 8.4% growth.
According to figures provided by the Chinese customs today, commerce between India and China reached an all-time high of $135.98 billion in 2022, while New Delhi’s trade imbalance with Beijing first crossed the $100 billion threshold despite tense diplomatic relations.
According to yearly Chinese customs data, commerce between India and China would reach $135.98 billion in 2022, surpassing the $125 billion milestone a year earlier by reporting an 8.4% growth.
China’s exports to India increased by 21.7 percent year over year to $118.5 billion. China’s imports from India fell to $17.48 billion in 2022, a decrease of 37.9% year over year.
India’s trade deficit increased from $69.38 billion in 2021 to $101.02 billion in 2018.
India has consistently expressed considerable worry about the trade deficit, which has now surpassed the $100 billion threshold for the first time.
Overall commerce with China reached USD 125.62 billion in 2021, up 43.32 percent from the previous year and surpassing the $100 billion threshold for the first time. India’s imports from China increased by 46.14 percent to reach USD 97.59 billion in 2021, resulting in a trade deficit of USD 69.56 billion.
India’s exports to China rose by 34.28% annually in 2021, reaching USD 28.03 billion. After the military stalemate in eastern Ladakh in May 2020, border concerns between the two countries didn’t stop the trade from booming.
An official trade brief published on the website of the Indian Embassy in Beijing states that “China has emerged as India’s largest goods trading partner by 2008 due to the rapid increase of India-China bilateral trade since the beginning of this century.”
“The two countries’ bilateral trade has grown exponentially since the start of the previous decade. India-China commerce increased by 75.30% from 2015 to 2021, growing by an average of 12.55% per year “It stated.
On the international trade front, China produced a trade surplus of USD 877.6 billion in 2022, despite the falling US and European demand and the COVID-19 limitations that caused intermittent closures of major cities, including Shanghai.
According to customs data, China’s overall exports increased by 7% in 2022, while imports increased by 1.1%. Last year, China had a trade surplus of $877.6 billion. China’s exports climbed to $3.95 trillion, down from the high growth of 29.9% in 2021, while imports rose by 1.1% to $2.7 trillion, down from the high growth of 30.1% in 2021.
