India’s Imports From China Dropped’s 13%, Exports Went by 16% in 2020

“India Import Data”

India’s exports to China increased by 16% in the first 11 months of the year despite the ongoing border military friction and the economic impact of the coronavirus pandemic, the latest China customs data showed.

Conversely, India imported less from China during the same period, showing a 13% drop, the data quoted by state media showed.

The fall in Chinese exports to India was also a result of falling internal demand in India because of the pandemic. According to China customs data released, China exported about $59 billion worth of products to India from January to November in US dollar terms, down 13%. The decline has slightly narrowed compared with a 16.2% drop in the first 10 months this year.

However, China Import Data shows China’s imports from India surged by 16% during this period, showing that China has refrained from politicising economic interactions with the neighbouring country,” the article said, quoting experts.

In comparison, China continues to import more from India despite political frictions,” it said, adding: “China’s imports from India amounted to about $19 billion in value in the first 11 months, up 16%.

India Export Data show India’s top exports to China included organic chemicals, iron ores, unfinished diamonds, fish and crustaceans, cotton, granite stone etc,” Indian embassy data showed. It was in 2019 that India’s trade deficit with China reduced for the first time in over a decade.

In 2019, India’s trade deficit with China reduced slightly by 2%, the first such decrease in deficit since 2005 and stood at $56.95 billion.

India-China bilateral trade in the year 2019 reached US$ 92.89 billion. In 2019, India was the 12th largest trade partner of China, following the US, Japan, Hong Kong, South Korea, Taiwan, Germany, Australia, Vietnam, Malaysia, Brazil and Russia.

Meanwhile, Chinese state media has cautiously welcomed the purchase of Indian rice by China, saying it was because of the cost advantage the deal offered.

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