Banner
Workflow

India, China trade surges to over $31 billion in Q1 of 2022 despite bilateral chill

Contact Counsellor

India, China trade surges to over $31 billion in Q1 of 2022 despite bilateral chill

  • Between January to March this year, the trade deficit mounted to USD 22.23 billion as China's exports to India reached USD 27.1 billion, over five times - while imports totalled USD 4.87 billion.

India’s Trade statistics

  • India's March trade deficit at $18.51 bln.
  • At $30.3 billion, mergers and acquisitions hit four-year high in March quarter.
  • Exports up 37.57 pc to USD 9.32 bn during April 1-7.

India-China bilateral trade

This is image title

  • Bilateral trade increased by 15.3 percent to over USD 31 billion in the first quarter of this year.
  • During the 3-month period from January to March, China's exports to India zoomed to USD 27.1 billion.
  • India-China bilateral trade hit a record high of over USD 125 billions last year.
  • The upward trend continued as the bilateral trade in the first quarter (Q1) of 2022 totalled to USD 31.96 billion, an increase of 15.3 percent compared with the same period last year.
  • China's exports to India went up by 46.2 percent to USD 97.52 billion while India's exports to China grew by 34.2 percent to USD 28.14 billion last year.

Global Political Scenario

  • Trade continues to grow despite the two-year-long border standoff between the armies of India and China in eastern Ladakh.
  • From the second quarter of last year China reduced imports from India.
  • China foreign trade registered an increase of 13 percent year-on-year to USD 1.48 trillion.
  • China's exports to the US increased by 16.7 percent year-on-year in the first quarter to reach USD138 billion, up from the 13.8 percent growth registered for the first two months.
  • China and the US soared by 28.7 percent and stood at USD 755.6 billion in 2021.
  • The China-EU trade was also on the upswing reaching USD 205 billion in the first three months, up 10.2 percent from last year.

Exam Track

Prelims Takeaway

  • India's trade deficit
  • India-China bilateral trade

Mains Takeaway

Q. Discuss the Importance of China to India for importing Electronics goods and pharmaceutical commodities. How could India overcome the China situation?

Categories