Indian exports to China dip by a third

01 Sep 2022 CW Team

Amid a slowdown in economic activity in China, India’s exports to its northern neighbour dropped 35 per cent to $6.8 billion during April-August period at a time the country's overall exports rose 17.1 per cent. China became India’s fourth largest export destination during the period, slipping from the second position during the same period a year ago.

While exports of petroleum products such as naptha to China rose 81 per cent to $1.2 billion during April-July due to elevated crude oil prices, shipments of organic chemicals (-38.3 per cent), iron ore (-78.5 per cent) and aluminium products (-84.2) saw sharp decline, disaggregated data available on Commerce Ministry website showed.

On the other hand, imports from China were up 28 per cent during April-August at a time when India’s overall imports grew 45.6 per cent, leading to a trade deficit of $37.1 billion in the first five months of FY23.

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