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Trade between India and China crosses USD 100 billion mark

Trade between India and China crosses USD 100 billion mark

India China

The trade between India and China has crossed USD 100 billion for the second year, says thedata released by Chinese customs.

The total bilateral trade, amidst the military standoff in eastern Ladakh, went up to USD 103.63 billion, registering a 14.6 per cent increase compared to last year during the same period.

Chinese exports to India have shot up to USD 89.66 billion. This is an increase of 31 per cent, said the data.

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However, India's exports in the past nine months stood at USD 13.97 billion, registering a decline of 36.4 per cent.As a result, the total trade deficit went up to over USD 75.69 billion.

Last year, bilateral trade between India and China hit a record high of over USD 125 billion. The bilateral trade crossed USD 100 billion mark in a year when relations between the two countries had touched a new low due to standoff between two militaries in eastern Ladakh.

Last year, China's exports to India went up by 46.2 per cent to USD 97.52 billion while India's exports to China grew by 34.2 per cent to USD 28.14 billion.

The trade deficit for India stood at USD 69.38 billion in 2021.

(With inputs from agencies)

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