India’s trade with China soared 62% in H1

SexyChineseLady

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China always puts business above politics. BTW, trade with US and EU exploded too despite all the hate rhetoric :)



India’s trade with China soared 62% in H1
Ananth Krishnan
JULY 13, 2021 22:55 IST
Bilateral trade in first six months hits $57.48 bn, surpasses pre-pandemic levels

India’s trade with China in the first half of 2021 rose by a record 62.7% — the highest increase among China’s major trade partners — with total two-way trade surpassing the pre-pandemic levels.


Two-way trade after six months was $57.48 billion, the highest on record for the first half. Bilateral trade surged from the year-earlier period, when trade slumped amid the pandemic, and surpassed the $44.72 billion pre-pandemic figure recorded in the first half of 2019, according to data released on Tuesday by China’s General Administration of Customs.

India’s imports, driven by record purchases of medical supplies, reached $42.76 billion this year, up 60.4% and higher than the first-half 2019 figure of $35.8 billion.

India’s exports to China climbed 69.6% to $14.72 billion, also the highest figure on record for the first half of any year. India’s biggest exports to China annually are iron ore, cotton, and other raw material-based commodities.
 

rockdog

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China always puts business above politics. BTW, trade with US and EU exploded too despite all the hate rhetoric :)



India’s trade with China soared 62% in H1
Ananth Krishnan
JULY 13, 2021 22:55 IST
Bilateral trade in first six months hits $57.48 bn, surpasses pre-pandemic levels

India’s trade with China in the first half of 2021 rose by a record 62.7% — the highest increase among China’s major trade partners — with total two-way trade surpassing the pre-pandemic levels.


Two-way trade after six months was $57.48 billion, the highest on record for the first half. Bilateral trade surged from the year-earlier period, when trade slumped amid the pandemic, and surpassed the $44.72 billion pre-pandemic figure recorded in the first half of 2019, according to data released on Tuesday by China’s General Administration of Customs.

India’s imports, driven by record purchases of medical supplies, reached $42.76 billion this year, up 60.4% and higher than the first-half 2019 figure of $35.8 billion.

India’s exports to China climbed 69.6% to $14.72 billion, also the highest figure on record for the first half of any year. India’s biggest exports to China annually are iron ore, cotton, and other raw material-based commodities.
I am OK even China has trade deficit with India, if we would import more materials, just like situation around 2004-2006.
 

SexyChineseLady

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I am OK even China has trade deficit with India, if we would import more materials, just like situation around 2004-2006.
Running a deficit is part of trading. China runs deficits with Korea, Saudi Arabia and a lot of other places.
 

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Cutting dependence on China, means inflation for industrial products and capital goods would skyrocket around the world..
Only a big war in the Pacific can lead to a drop in China's trade with US, EU or India.. Along with military deterrence, the other most important deterrence preventing all out war, is that US, EU or Indian economies will all be severely impacted by the halt in imports from China
So, even if there is some military conflict with China in the future, it will be nothing more than a skirmish.. unless of course, China decides to escalate the conflict into a major war..
 

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