India’s trade deficit with China races beyond $100 bn.

• India’s bilateral trade with China reached a record $135.98 billion in 2022 driven by surging Indian imports of Chinese goods that were up by more than 21% last year.
• India’s exports to China, however, fell in 2022, driving an already significant trade deficit beyond the $100 billion-mark for the first time.

Two-way trade figures

• Increase in two-way trade: Up by 8.4% last year to $135.98 billion, with India’s imports accounting for $118.5 billion, up from $97.5 billion.
• India’s exports to China: They fell from $28.1 billion to $17.48 billion.
• Trade deficit: It reached $101.02 billion, up by 45%, from $69.4 billion in 2021.
• China’s total foreign trade: It hit a record high, up 7.7% to $6.25 trillion.
• Exports: They climbed 10.5%.
• Trade with ASEAN: As China’s biggest trading partner, trade increased 11.2% to $975.34 billion.