Sino-Indian trade jumps by 76.7 per cent in January
Sino-Indian trade surged by 76.7 per cent to $4.64 billion in January, making India Chinas ninth largest trade partner, the Customs authorities said.
By PTI |
BEIJING: Sino-Indian trade surged by 76.7 per cent to $4.64 billion in January, making India Chinas ninth largest trade partner, the Customs authorities said.
With the January figures, India has moved up one level from being the 10th largest trade partner of China.
China is the second largest trading partner of India. Buoyed by the soaring trade, India and China had, during Prime Minister Manmohan Singhs recent visit to Beijing, set a bilateral trade target of $60 billion by 2010, raising the earlier $40 billion mark.
Meanwhile, the Customs authorities said, Chinas total trade surplus in January rose by 22.6 per cent over the same period last year, to $19.49 billion, but was down from USD 22.69 billion in December.
The European Union was Chinas largest trade partner in January, followed by the US and Japan.
Exports touched $109.66 billion, a 26.7 per cent year-on-year jump, the General Administration of Customs said.
Since May 2007, the trade surplus of China has been at least $20 billion a month.
Imports also rose 27.6 per cent to $90.17 billion, official Xinhua news agency said quoting the Customs figures.
Chinas ballooning trade surplus had been a cause of major concern among its trade partners who complain that Beijing is keeping the value of its currency, Yuan, artificially low to give an "unfair" advantage to its exporters.
Exports are expected to slowdown due a weakening demand stemming from the US sub-prime mortgage crisis and Chinas curbs on certain export items by cutting export rebates or imposing export taxes.
With the January figures, India has moved up one level from being the 10th largest trade partner of China.
China is the second largest trading partner of India. Buoyed by the soaring trade, India and China had, during Prime Minister Manmohan Singhs recent visit to Beijing, set a bilateral trade target of $60 billion by 2010, raising the earlier $40 billion mark.
Meanwhile, the Customs authorities said, Chinas total trade surplus in January rose by 22.6 per cent over the same period last year, to $19.49 billion, but was down from USD 22.69 billion in December.
The European Union was Chinas largest trade partner in January, followed by the US and Japan.
Exports touched $109.66 billion, a 26.7 per cent year-on-year jump, the General Administration of Customs said.
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Since May 2007, the trade surplus of China has been at least $20 billion a month.
Imports also rose 27.6 per cent to $90.17 billion, official Xinhua news agency said quoting the Customs figures.
Chinas ballooning trade surplus had been a cause of major concern among its trade partners who complain that Beijing is keeping the value of its currency, Yuan, artificially low to give an "unfair" advantage to its exporters.
Exports are expected to slowdown due a weakening demand stemming from the US sub-prime mortgage crisis and Chinas curbs on certain export items by cutting export rebates or imposing export taxes.
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