New Delhi: The trade between China and India reached an all-time high of USD 135.98 billion in 2022 according to figures issued by the Chinese customs on Friday.

The yearly Chinese customs statistics showed that the sum of India-China trade for 2022 increased by 8.4 percent to reach USD 135.98 billion, surpassing the USD 125 billion milestone a year earlier.

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 surpassed the USD 69.38 billion mark in 2021 and was at USD 101.02 billion. India has always voiced considerable worry about the trade imbalance, 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 imbalance of USD 69.56 billion.

India's exports to China rose by 34.28% annually in 2021, reaching USD 28.03 billion. After the military stalemate in eastern Ladakh in May 2020, border concerns between the two nations didn't stop the commerce from booming.

The tremendous growth of India-China trade since the turn of the century has led China to become India's top partner for goods trade by 2008, according to an official brief on trade provided on the Indian Embassy website in Beijing. Trade between the two nations has grown exponentially since the start of the previous decade.

According to the report, bilateral trade between China and India increased by 75.30% from 2015 to 2021, growing by an average of 12.55 percent year. According to officials, while commerce with China benefited from India's access to inexpensive Chinese goods, it continually contributed to the spiralling trade imbalance India had with other nations.

"Our concerns about the trade imbalance are two-fold. One is the deficit's real magnitude. The disparity has been steadily expanding year after year, which is factor two" according to the Embassy brief. "The small basket of goods, largely primary, that we export to China and second, market access restrictions for most of our agricultural products and the sectors where we are competitive, such as medicines, IT/ITES, might both be contributed to the rise of the trade imbalance with China," it stated.

China generated a trade surplus of USD 877.6 billion in 2022, according to statistics issued by the Chinese customs on Friday, despite a decline in demand from the US and Europe and periodic city shutdowns caused by COVID-19 regulations.

New Delhi: The trade between China and India reached an all-time high of USD 135.98 billion in 2022 according to figures issued by the Chinese customs on Friday.

The yearly Chinese customs statistics showed that the sum of India-China trade for 2022 increased by 8.4 percent to reach USD 135.98 billion, surpassing the USD 125 billion milestone a year earlier.

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 surpassed the USD 69.38 billion mark in 2021 and was at USD 101.02 billion. India has always voiced considerable worry about the trade imbalance, 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 imbalance of USD 69.56 billion.

India's exports to China rose by 34.28% annually in 2021, reaching USD 28.03 billion. After the military stalemate in eastern Ladakh in May 2020, border concerns between the two nations didn't stop the commerce from booming.

The tremendous growth of India-China trade since the turn of the century has led China to become India's top partner for goods trade by 2008, according to an official brief on trade provided on the Indian Embassy website in Beijing. Trade between the two nations has grown exponentially since the start of the previous decade.

According to the report, bilateral trade between China and India increased by 75.30% from 2015 to 2021, growing by an average of 12.55 percent year.

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