According to figures issued by the Chinese customs on Friday, commerce between India and China reached an all-time high of USD 135.98 billion in 2022, while New Delhi’s trade deficit with Beijing for the first time exceeded USD 100 billion.
The yearly Chinese customs data shows that the overall trade between India and China for 2022 has increased to USD 135.98 billion, surpassing the USD 125 billion milestone by registering an 8.4% growth.
China’s exports to India increased by 21.7% year over year to reach USD 118.5 billion. China’s imports from India fell to USD 17.48 billion in 2022, a decrease of 37.9% year over year.
India’s trade deficit increased from USD 69.38 billion in 2021 to USD 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.
The total value of trade with China reached USD 125.62 billion in 2021, up 43.32 percent from the previous year and surpassing the milestone of USD 100 billion 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.
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 USD 877.6 billion. China’s exports surged to USD 3.95 trillion, down from a high growth of 29.9% in 2021, while imports rose by 1.1% to USD 2.7 trillion, down from a gain of 30.1% in the year prior.
