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July 5, 2020

India’s trade deficit with China falls to $48.66b

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July 5, 2020

NEW DELHI: India’s trade deficit with China fell to US$48.66 billion in 2019-20 on account of decline in imports from the neighbouring country, according to government data. Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion, the data showed. The trade deficit between the countries was at $53.56 billion in 2018-19 and $63 billion in 2017-18, foreign media reported. The main imports from China include clocks and watches, musical instruments, toys, sports goods, furniture, mattresses, plastics, electrical machinery, electronic equipment, chemicals, iron and steel items, fertilisers, mineral fuel and metals.