India-China bilateral trade hits $10.7 billion in October, contracts 0.46%

Out of India's top 10 import partners, inbound shipments from the United Arab Emirates (UAE) grew at the fastest pace in October

India’s bilateral trade with China stood at $10.7 billion during October, witnessing 0.46 per cent contraction amid a slowdown in the neighbouring country, commerce department data showed.

 

The contraction was mainly driven by exports as outbound shipments to China contracted 9.5 per cent at $1.15 billion, even as India’s overall exports bounced back in October and saw a double-digit growth of 17 per cent.

 

In fact, barring China, exports to nine out of India’s top 10 export destinations witnessed a positive growth during October. Countries that saw positive exports growth are: the US (11.5 per cent), the UAE (43.3 per