India's exports to China up 16.15% to $20.87 billion in 2020

India's exports to China has increased by 16.15 per cent to $20.87 billion in 2020 from $17.9 billion in the previous year

exports, imports, trade, FTA

New Delhi
India's exports to China has increased by 16.15 per cent to USD 20.87 billion in 2020 from USD 17.9 billion in the previous year on account of healthy growth in the shipments of ores, iron and steel, aluminum and copper, according to the data of the commerce ministry.
Trade deficit with China has declined 19.39 per cent from USD 56.95 billion in 2019 to USD 45.91 billion in 2020 as the country's imports from the neighbouring country contracted 10.87 per cent to USD 66.78 billion from USD 74.92 billion in 2019, the data showed.
The bilateral trade in 2020 decreased by 5.64 per cent to 87.65 billion compared to USD 92.89 billion in the previous year.
In the agriculture sector, the main export commodities which recorded healthy growth includes cane sugar, soybean oil, and vegetables fats and oils.
However, the exports of mangoes, fish oil, tea, and fresh grapes declined.
Commenting on these numbers, Federation of Indian Export Organisations (FIEO) President S K Saraf said that this is a positive sign and it reflects increasing competitiveness of domestic exporters.

Also Read

January exports rise 5.37% on healthy pharma, engineering growth

Yet another oil bonanza for Modi

With fuel demand falling, Indian Oil bets on plastics to cushion the blow

Exports: A post-Covid opportunity

Delay in announcement of rates under RoDTEP to impact exports: FIEO

India needs to get into cutting edge tech to boost exports: Amitabh Kant

Centre signs $304 mn pact with AIIB for power transmission network in Assam

At 1.3%, India's GDP may turn positive in December quarter: DBS report

IT sector continues to see sequential growth in hiring in January: Report

AIADMK govt presents interim budget ahead of TN assembly polls

Imports of goods including electrical machinery and equipment, boilers, machinery and mechanical appliances, plastics and related articles, articles of iron and steel, furniture, fertilizers, vehicle parts and accessories, toys and sports equipment, inorganic chemicals and ceramic products have recorded a decline.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Feb 23 2021 | 9:15 PM IST

Explore News