India and China bilateral trade crosses $100 bn during Jan-Sept

Beijing: India and China bilateral trade continued to boom, crossing $100 billion for the second year in the first nine months of 2022 while India's trade deficit climbed to over $75 billion, according to trade data released by Chinese customs.

The total bilateral trade, amidst the military standoff in eastern Ladakh, went up to $103.63 billion, registering a 14.6 per cent increase compared to last year during the same period.

China's exports to India climbed to $89.66 billion, registering an increase of 31 per cent, data released by China's General Administration of Customs (GAC)

said.

However, India's exports in the past nine months stood at $13.97 billion, registering a decline of 36.4 per cent.

As a result, the total trade deficit went up to over $75.69 billion.

Last year, the India-China bilateral trade hit a record high of over $125 billion crossing the $100 billion mark in a year when the relations touched a new low due to the standoff by the militaries in eastern Ladakh.

Last year, China's exports to India went up by 46.2 per cent to $97.52 billion while India's exports to China grew by 34.2 per cent to $28.14 billion. The trade deficit for India stood at $69.38 billion in 2021.