China-India Trade Keeps on Increasing Fast
2004/08/10

China-India trade maintains a momentum of fast increase this year. According to the statistics of China's Customs, the gross volume of imports and exports in the first 6 months has reached US $ 6.674 billion, a year-on-year increase of 93.1%. China's exports to India amount US $ 2.447 billion and the imports from India US $ 4.427 billion, with increases of 65.7 % and 113.5% respectively.

In recent years, China-India trade volume has kept on increasing fast. The figures are US $ 3.6 billion, 4.9 billion and 7.6 billion in 2001, 2002 and 2003 respectively, with year-on-year increases of 23.4%, 37.6% and 53.6%. The increase rates are obviously higher than those of the overall   Chinese trade volume of each corresponding periods, namely 7.5%, 21.8% and 37.1%. The increase rate of 93.1% in the first half of this year is much higher than that of 39.1% of Chinese trade volume in the same period.

During this period, India's annual trade surplus with China appears and widens rapidly. Before 2002, India's trade deficit with China was about US $ 0.2 billion on average, not exceeding US $ 0.4 billion. In 2003, India's trade deficit with China was converted to a surplus of US $ 0.91 billion. The trade surplus in the first half of this year reached US $ 1.78 billion, exceeding the total amount of India's trade deficit with China over the years.

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