India - China trade deficit increased to 37.8 billion US dollars in 2014

Jan 14, 2015 18:39 IST

India –China trade deficit increased to 37.8 billion US dollars in 2014 despite the increase in bilateral trade by 7.9 percent. The annual trade figures were released by General Administration of Customs (GAC) of China on 13 January 2015.

The total bilateral trade volume increased to 70.59 billion US dollars in 2014 from 65.57 billion US dollars in 2013 registering an increase of 5.02 billion US dollars amid increasing exports of China to India.

India-China trade increased all time high of 73.9 billion US dollars in 2011 but declined to 66.57 billion US dollars in 2012 and 65.49 billion US dollars in 2013.

China’s export to India surged to 54.2 billion US dollars, posting a 12 percent increase while India’s exports to China decelerated to 16.4 billion US dollars, posting a decline of 3.5 percent. Total export of India to China stood at 17.04 billion US dollars in 2013.

India and China had fixed a trade target of 100 billion US dollars for the year 2014.

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