Trade between India and China touched an all-time high of USD 135.98 billion in 2022 while New Delhi’s trade deficit with Beijing crossed for the first time a USD 100 billion mark, according to data released by the Chinese customs on Friday.
The total India-China trade for 2022 has climbed to 135.98 billion, overtaking the USD 125 billion mark a year earlier by registering an 8.4 per cent increase, according to the annual Chinese customs data. China’s exports to India climbed to USD 118.5 billion, a year-on-year increase of 21.7 per cent. During 2022, China’s imports from India dwindled to USD 17.48 billion, a year-on-year decline of 37.9 per cent.
The trade deficit for India stood at USD 101.02 billion, crossing the 2021 figure of USD 69.38 billion.