19-April-2024
Economy News
 
China's Covid sneeze: Beijing is buying less from India and selling more
03-Oct-2022

China’s economic slowdown has had a peculiar impact on its trade with India. It is buying less from India but is selling more than before. The January-August 2022 trade data confirms this trend. China’s share in India’s exports has come down from 6.5% in January-August 2021 to 3.5% in January-August 2022. Its share in India’s imports remains broadly the same at about 15%. Exports India’s exports to China during January-August 2022 were $16.5 billion, a decline of 50.7% y-o-y. India’s global exports had a positive growth of 17.9% during this period. The major products, which registered a growth in exports to China, were light petroleum oil ($1.6 billion, 595%), shrimp and prawns ($694 million, 29%), broken rice ($634 million, 131%), sulphur ($322 million, 248%) and ferro alloys ($261 million, 9.27%). Figures in brackets show the value of exports and export growth, respectively.

News Source:- https://economictimes.indiatimes.com/news/economy/foreign-trade/chinas-covid-sneeze-beijing-is-buying-less-from-india-and-selling-more/articleshow/94591110.cms