China is exporting heavily, India imported 5 times more than exports to China
China exported to India more than five times as compared to imports.
Trade relations between India and China are getting stronger. In the first quarter of the year 2022, China exported more than five times to India than it imported. There was a total trade of $ 32 billion between the two countries, in which India’s trade deficit stood at $ 22.23 billion.
Relations with China may not be good, but between India and China trade relations ,India-China Trade) are getting stronger. China is also taking full advantage of this growing relationship. Exports from China to India (China export to India) is doubling in the day and quadruple the night. In the first quarter (January-March) of 2022, bilateral trade between India and China has grown by 15.3 percent on a year-on-year basis. Bilateral trade between the two countries has increased to $ 32 billion in the March quarter. This information has been shared by the Customs Department of China.
In the first quarter of this year, China has exported heavily to India, due to which its exports are more than five times as much as imports. In the first quarter, there was a total trade of $ 31.96 between India and China. In this, China exported 27.1 billion dollars to India, while India exported only 4.87 billion dollars to China. In this way, the trade deficit between the two countries stood at $ 22.23 billion.
Trade deficit with China $69.38 billion in 2021
In the last financial year (2021-22), bilateral trade between India and China increased to $ 125 billion. In the last financial year, China exported a total of $ 97.52 billion to India. In this, a jump of 46.2 percent was registered on a yearly basis. India exported a total of $ 28.14 billion to China and registered a jump of 34.2 percent on a yearly basis. In the year 2021, the trade deficit between India and China increased to $ 69.38 billion.
The pharma and chemical industry imports 70 percent from China.
Liu Zhongyi, secretary general of the China-South Asia Cooperation Research Center, said that India imports electronics, especially mobile phones, besides other goods on a large scale from China. The pharma industry and chemical industry import 70 percent of the requirement from China.
More than 28 percent jump in imports from China
In the March quarter, India’s imports from China registered a year-on-year growth of 28.3 percent, while exports to China registered a decline of 26.1 percent. Liu said that in the first quarter of 2021, China had imported iron ore on a large scale from India. From the second quarter, it had significantly reduced this import.
Despite the crisis, China’s exports boom
Despite the increasing global political situation, supply problems and the threat of new variants of corona in China, China’s exports are continuously booming. According to data from the Chinese Customs Department, US exports to China registered a growth of 16.7 percent in the March quarter. This figure stood at $138 billion. Trade between China and the European Union registered a rise of 10.2 percent and stood at $ 205 billion.
China’s trade stood at $6000 billion in 2021
Even though China and America are not forming on the political issue, the relationship between the two countries is getting stronger on the trade issue. In the year 2021, bilateral trade between China and America stood at $ 755.6 billion, with a jump of 28.7 percent. China’s total trade stood at $ 6 trillion i.e. $ 6000 billion.
(PTI)
