China Business With India In Percentage
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Overview india china signed a trade agreement in 1984 which provided for most favored nation treatment and later in 1994 the two countries signed an agreement to avoid double taxation.
China business with india in percentage. The opportunities in both countries are substantial. India s trade deficit with china stood at us 56 95 billion a minor y o y decline of 1 88. India china trade relations.
This page includes a chart with historical data for china exports to india. India s exports to china declined by 1 62 to reach 7 70 billion while chinese exports to india decelerated by 4 10 to total 29 17 billion the trade deficit in 2018 according to chinese. Exports to india in china averaged 5489732 46 usd tho from 2014 until 2020 reaching an all time high of 9616000 usd tho in february of 2020 and a record low of 2326991 usd tho in february of 2014.
To put it in perspective china is india s one of the leading trade partners and constitutes 9 percent of india s total export and 18 percent of total merchandise imports. India s illiteracy rate is nearly 40 percent and china s is nearly 10 percent according to world bank statistics of the total of 2 3 billion people in these two countries nearly 1 5 billion earn less than us 2 a day according to world bank calculations. Indian import from china was us 70 32 billion in 2018 19 while indian export to china was just us 16 75.
The challenges are also large. China s export to india decline for the first time in last 10 years. The bilateral trade crossed us 13 6 billion in 2004 from us 4 8 billion in 2002 reaching 18 7 billion in 2005.
India china trade volume india s trade with china was 87 07 billion in 2018 19. India s exports to china decreased by 4 55 y o y to us 17 97 billion and india s imports from china also witnessed a drop by 2 54 to us 74 92 billion.
Exports to india in china increased to 6736300 usd tho in october from 6694400 usd tho in september of 2020. Exports of china to india are about 58 billion which would be about 2 3 per cent of total chinese exports the reality hidden in this fact is that even if we stop trading with china today it would not dent the exports of china much.
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