Record surge in India’s imports from China in first half of 2022

Tags: Economy/Finance International News

According to China’s trade figures released on July 13 India’s imports from China reached a record $57.51 billion in the first half of the year.

India-China Bilateral Trade

• Chinese goods imports are on record growth this year, and are set to surpass last year's $97.5 billion mark.

• The trade imbalance is also heading towards another record. Imports this year are up 34.5% from the same period in 2021.

• Two-way trade crossed 100 billion dollars for the first time in 2021 to reach 125.6 billion dollars, of which India's imports were 97.5 billion dollars.

• Trade declined in 2020 due to the corona pandemic, but is now well above pre-pandemic levels.

• China is the largest trading partner of India.

Major commodities imported from China into India 

• Electronic equipment, machines, engines, pumps, organic chemicals, fertilizers, iron and steel, plastics, iron or steel products, gems etc.

Major commodities exported from India to China 

• Cotton, gems, precious metals, coins. copper ores, slag, ash, organic chemicals, salt, sulphur, stone, cement, machines, engines etc.