(TibetanReview.net, Jul14’21) – While relations between India and China plunged to a new low since the start of the current military standoff in eastern Ladakh border in May last year, trade between the two countries has hit a new high in the first six months of this year, with the balance heavily in China’s favour, according to the PTI news agency Jul 13.
The China-India bilateral trade in the first half of this year totalled $57.48 billion, up 62.7% year on year, perhaps the highest in recent years, the report said, citing data released by China’s Customs.
The report noted that though Indian exports to China picked up with 69.6% year on year increase, its trade deficit, a structural problem for India for long, climbed to 55.6%.
The report noted that data released by China’s Customs showed that India’s exports to China reached $14.724 billion and India’s imports from China amounted to $42.755 billion, up 60.4%.
China’s overall trade in the first half of this year was shown to have risen by 27.1% year on year to 18.07 trillion yuan (about $2.79 trillion) in the first six months.