Thursday, October 21, 2021

Bilateral trade between India and China crosses USD 90 billion in first three quarters of 2021

The bilateral trade between India and China stands at USD 90.37 billion by the end of September 2021, an increase of 49.3 per cent year-on-year (YoY), according to the nine-month data released by the Chinese customs. China’s exports to India went up to USD 68.46 billion up 51.7 per cent YoY, apparently aided by massive imports of urgent supplies, like oxygen concentrators, when India was in the grip of the second wave of the COVID-19 pandemic in April and May this year. The Indian exports totalled to USD 21.91 billion, registering a noteworthy increase of 42.5 per cent.

However, India’s trade deficit with China remains a concern as it reached USD 46.55 billion and is expected to climb further by the year-end. Observers say with three months still remaining in 2021, the target of USD 100 billion trade previously set by both the countries was expected to be reached this year despite the eastern Ladakh standoff.

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