India-China trade grows 62.7% in 1st half of year, crosses $57 billion

The China-India bilateral trade in the first half of the year totalled USD 57.48 billion, up 62.7 per cent year on year, perhaps the highest in recent years amid the Ladakh impasse and the COVID-19 pandemic, according to data released by China’s Customs.

Though Indian exports to China picked up with 69.6 per cent year on year increase, the trade deficit, a structural problem for India for long, climbed to 55.6 per cent.

According to data released by China’s Customs, India's exports to China reached USD 14.724 billion, up 69.6 per cent year on year in the first six months and India's imports from China amounted to USD 42.755 billion, up 60.4 per cent.

China’s overall trade in the first half of the year rose by 27.1 per cent year on year to 18.07 trillion yuan (about USD 2.79 trillion) in the first six months, according to the customs data. The growth marks an increase of 22.8 per cent from the pre-epidemic level in 2019.

Exports jumped 28.1 per cent from a year earlier, while imports climbed 25.9 per cent in yuan terms.

Read More at https://www.indiatoday.in/business/story/india-china-trade-grows-62-7-in-1st-half-of-year-crosses-57-billion-1828018-2021-07-14