Explained: India’s bilateral trade with China in 2021
Despite India’s efforts to reduce dependence on Chinese imports amid an increased policy emphasis on self-reliance and the continuing tension along the border, the country’s bilateral trade with China has grown 44 per cent in 2021, according to Chinese government data for the full calendar year. Imports grew over a record 46 per cent while exports were up 35 per cent.
What are India’s imports from China? India’s imports from China rose to $97.5 billion in calendar year 2021, up 46.1 per cent from imports worth $66.7 billion in 2020, which was impacted by Covid-19 related restrictions, as per data from the China General Administration of Customs. Imports were up 30.3 per cent over 2019, which was not impacted by the pandemic. India’s total trade with China was $125.7 billion in the 2021. The sharp uptick in imports has pushed India’s trade deficit with China to $69.4 billion in 2021, up from $45.9 billion in 2020 and $56.8 billion in 2019. India’s official statistics on bilateral trade with China are updated only till November 2021.
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