India, China trade deficit at $51.5 billion during April-October this fiscal

According to the data, imports during April-October this fiscal stood at $60.27 billion, while exports aggregated at $8.77 billion

The trade deficit difference between imports and exports, between India and China touched $51.5 billion during April-October this fiscal, the Parliament was informed on Friday, December 9, 2022.

The deficit during 2021-22 had jumped to $73.31 billion as compared to $44.03 billion in 2020-21, according to the data provided by the Commerce and Industry Minister Piyush Goyal in a written reply to the Rajya Sabha.

According to the data, imports during April-October this fiscal stood at $60.27 billion, while exports aggregated at $8.77 billion.

He said that the merchandise exports from India to China had increased from $11.93 billion in 2014-15 to $21.26 billion in 2021-22, showing an increase of 78.2%, over the last six years.

Imports from China, on the other hand, increased from $60.41 billion in 2014-15 to $94.57 billion in 2021-22.

"The trade deficit with China in 2004-05 was $1.48 billion, which increased to $36.21 billion in 2013-14, an increase of 2,346%. Against this massive increase, the trade deficit with China has since increased by only 100% to $73.31 billion in 2021-22," Mr. Goyal said.