Bilateral trade between India, China crosses 125 billion USD in 2021

Tags: Economics/Business

According to the official data released by the Chinese customs, the India-China bilateral trade touched a record high of over USD 125 billion in 2021, up 43.3% from 2020 when bilateral trade was worth 87.6 billion USD.

Highlights of the Trade Data 

• In 2021, China’s exports to India were 97.52 billion USD, up 46.2%, while China imported 28.14 billion USD worth of goods from India, up 34.2%.
• The trade deficit between the two countries remained in favour of China – at $69 billion. 
• Trade between China and the US soared by 28.7% and amounted to $755.6 billion in 2021 - maintaining a strong growth momentum and contributing 12% to China’s record $6 trillion foreign trade for the year. 
• The US maintained its place as China’s third-largest trade partner following ASEAN and the European Union.
• India was China’s 15th largest trade partner in 2021.