India- China trade crosses $100 billion during January -September 2022; Chinese Customs data

Tags: Economy/Finance

According to the data released by China's General Administration of Customs, the bilateral trade between India and China has crossed $100 billion during the January - September period of 2022. 

The total bilateral trade between the two was USD 103.63 billion, registering a 14.6 percent increase compared to last year during the same period.

China's exports to India climbed to USD 89.66 billion, registering an increase of 31 percent.

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

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

Trade data of 2021 

In 2021 the total trade between the two countries was over USD 125 billion despite tension between the two countries due to border clashes in the Ladakh region.

Last year, China's exports to India went up by 46.2 percent to USD 97.52 billion while India's exports to China grew by 34.2 percent to USD 28.14 billion. 

The trade deficit for India stood at USD 69.38 billion in 2021.

In 2021-22 The United States overtook China to become the largest trading partner of India.

The Government of India data is different from the Chinese as the accounting period in India is from April -March and also the method used by India and China on calculating export and import of goods are different.