Bilateral trade between India and China continued to boom, surpassing $100 billion for the second time in the first nine months of 2022, while India’s trade deficit climbed to over $75 billion, according to trade data released by China Customs.
Total bilateral trade rose to $103.63 billion amid the military standoff in east Ladakh, up 14.6 percent year-on-year over the same period.
China’s exports to India rose to $89.66 billion, up 31 percent, according to data released by China’s General Administration of Customs (GAC).
However, India’s exports in the last nine months totaled US$13.97 billion, down 36.4 percent.
As a result, the total trade deficit increased to over $75.69 billion.
Last year, bilateral trade between India and China hit a record high of over $125 billion, surpassing $100 billion in a year as ties hit a new low amid the military standoff in eastern Ladakh.
Last year, China’s exports to India rose 46.2 percent to $97.52 billion, while India’s exports to China rose 34.2 percent to $28.14 billion.
The trade deficit for India in 2021 was US$69.38 billion.
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