Sino-India trade at record $18.71B

By agencies   |   Tuesday, 14 February 2006, 08:00 Hrs
Printer Print Email Email
NEW DELHI: The Sino-India bilateral trade during January-December 2005 set a new record at $18.71 billion, up 37.64 percent over 2004 when it was $13.59 billion.

At this rate, the target of $20 billion in bilateral trade by 2008 set by the two governments would be achieved this year, two years in advance, diplomatic sources said.

In 2000, Sino-India bilateral trade was just $3 billion while it touched $5 billion in 2002.

Meanwhile, India's trade surplus with China in 2005 has shrunk by more than half to $843.16 million from an impressive $1.74 billion in 2004, latest Chinese customs figures indicated.

Indian exports to China last year grew by 27.47 percent to $9.78 billion. In 2004, India's exports to China amounted to $7.67 billion, according to the General Administration of Customs of China.

India's imports from China witnessed rapid growth last year when $8.93 billion worth of goods were shipped from Beijing, registering a 50.82 percent hike. Chinese exports to India in 2004 amounted to $5.92 billion.

Thus, India's trade surplus shrunk to $843.16 million in 2005 compared to $1.74 billion in 2004.

China's total foreign trade volume hit a record $1.4 trillion in 2005, up 23.2 percent over the previous year.

Thus, the growth in Sino-India bilateral trade at 37.64 percent was much higher than China's surging foreign trade globally at 23.2 percent.

Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..