Beijing: China-India bilateral trade in the first half of this year reached $ 57.48 billion, up 62.7 percent year-on-year, perhaps the highest in the past few years in the midst of Ladakh’s deadlock and Covid-19 pandemic, according to data released by China customs.
Although Indian exports to China increased by 69.6 percent of the year, trade deficits, structural problems for old India, rose to 55.6 percent.
According to data issued by Chinese customs, Indian exports to China reached $ 14.724 billion, up 69.6 percent year in the first six months and Indian imports from China amounted to $ 42.755 billion, up 60.4 percent.
China’s overall trade in the first half of the year rose 27.1 percent year in 18.07 trillion yuan (around $ 2.79 trillion) in the first six months, according to customs data.
Growth marked an increase of 22.8 percent of the pre-epidemic level in 2019.
Exports jumped 28.1 percent from the previous year, while imports rose 25.9 percent in the term yuan.
The trade deficit for the first six months of this year reached $ 28.03 billion, up 55.6 percent year-on-year, according to official sources.
But trade numbers are considered significant with india-Chinese relations that are jammed with deadlock between two military in East Ladakh since May last year.
While the second Covid-19 wave has produced a large increase in export China, especially oxygen concentrators, ventilators, monitors, and medical and drugs, Indian exports to China are driven by increased iron ore, steel, aluminum and copper.
From January to April this year, China imported a total of 20.28 million tons of iron ore from India, an increase of almost 66 percent from the same period last year, accounting for nearly 90 percent of the total export of Indian iron ore, the global time managed by the government managed , It cites data issued by the Chinese Ministry of Foreign Affairs which states that China has exported more than 26,000 ventilator and oxygen generators, more than 15,000 monitors, and nearly 3,800 tons of medical materials and drugs to India in April.
Last year India-China trade amounted to $ 77.67 billion, which was lower than $ 85.47 billion in 2019.