China’s trade with India this year exhibited an upwards trajectory in the first half of the year but had a fall of 7% in the last half-year. It could be due to the rise in COVID-19 due to which India declined to export iron.
There was a rapid growth in the trade of China-India of approximately 63% in the initial six months, in terms of dollars, making it the second-highest trade growth for china. The first is China-South Africa trade which continues to grow constantly.
China’s trades to India extended about $56.5 billion in the first six months of the year, with imports increasing 69.6% year-on-year and exports rising 60.4% year-on-year.
Due to the rising cases of COVID-19 in India, trade was essentially encouraged. India required a massive amount of medical goods from China to battle the second wave of the pandemic. As per the statistics released by the Ministry of Foreign Affairs, China has exported on average 26,000 ventilators and oxygen generators, over 15,000 observers, and approximately 3,800 tons of medical supplies and medications to India in April.
The two-way growth of China and India, however, trimmed down to some extent from that in the initial six months period which saw the mutual growth in trade hit about 70.2% in US dollar, $48.2 billion, with Chinese distributes to India about 64.3% and imports up 90.2%, on yearly basis.