New Delhi: India-China trade is set to grow by 8.4 percent to USD 135.98 billion in 2022, according to data released by the Chinese Customs Department on Friday. Last year this figure was 125 billion dollars. China’s exports to India grew by 21.7 percent year-on-year to US$ 118.9 billion.
On the other hand, exports from India to China are expected to decline by 37.9 percent year-on-year to USD 17.48 billion in 2022. Due to this, the trade deficit for India was $ 101.02 billion and it crossed the 2021 figure of $ 69.38 billion.
The trade deficit has crossed $100 billion for the first time and India has been consistently expressing serious concern over it. Earlier in 2021, India’s trade with China stood at $ 125.62 billion with an increase of 43.32 percent on an annual basis. That year, trade between the two countries crossed $100 billion for the first time. The trade deficit stood at $69.56 billion that year when imports from China to India grew by 46.14 percent to reach $97.59 billion.
India’s exports to China were to grow by 34.28 percent year-on-year in 2021 to $28.03 billion. Bilateral trade continues to grow despite border tensions between the two countries.
