Amidst border row, India exported more, imported less from China in 2020
New Delhi, Dec 07: India's exports to China increased by 16 per cent in the first 11 months of the year according to the latest Chinese customs data.
India imported less from China during the same period and the data showed a 13 per cent drop. The Chinese state media was however quick to point out the Indian exports to China continued to rise because Beijing has not politicised the border friction along the Line of Actual Control in eastern Ladakh, which has been ongoings since May.
The fall in Chinese exports to India was also a result of falling internal demand in India because of the pandemic, Global Times said in a report.
The article said, according to customs data released on Monday, China exported about $59 billion worth of products to India from January to November in US dollar terms, down 13%. The decline has slightly narrowed compared with a 16.2% drop in the first 10 months this year."
Quoting experts the article said that China's imports from India surged by 16% during this period, showing that China has refrained from politicising economic interactions with the neighbouring country.
In comparison, China continues to import more from India despite political frictions. China's imports from India amounted to about $19 billion in value in the first 11 months, up 16%, the article also said.
The data compiled by the Indian Embassy in Beijing shows that India was the largest export destination for Chinese organic chemicals, fertilisers, antibiotics and aluminium foil in 2019.
"India's top exports to China included organic chemicals, iron ores, unfinished diamonds, fish and crustaceans, cotton, granite stone etc," the data by the Indian Embassy shows.
In 2019, India's trade deficit with China reduced slightly by 2 per cent, the first such decrease in the deficit since 2005 and stood at USD 56.95 billion.