The India-China trade volume is likely to hit the record level of 100 billion ladakh this year. 4,444 China’s total imports and exports rose 22.7 percent year-on-year to 28.33 trillion yuan (about $ 4.38 trillion) in the first three quarters of 2021, official data showed on Wednesday.
According to the General Administration of Customs, the number increased 23.4 percent from pre-epidemic levels in 2019.
Two-way trade between India and China stood at $ 90.37 billion at the end of September, up 49.3 percent year-over-year, according to nine-month data released by Chinese Customs. 4,444 exports from China to India rose to $ 68.46 billion, an increase of 51.7 percent year-over-year, apparently helped by massive imports of urgent supplies such as oxygen concentrators, as India caught the second wave of the COVID19 pandemic in April and May of this year.
Indian exports totaled $ 21.91 billion, a notable increase of 42.5 percent.
However, from an Indian perspective, the trade deficit, which has remained a problem over the years, reached $ 46.55 billion and is expected to increase further until the end of the year. 4,444 observers say the US $ 100 billion trade target previously set by both countries should be achieved this year despite stagnation in eastern Ladakh.