India's exports to China increase 16.15% in 2020

24 Feb 2021 Evaluate

The commerce ministry in its latest report has showed that 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 on account of healthy growth in the shipments of ores, iron and steel, aluminum and copper.

As per the report, trade deficit with China has declined 19.39 per cent from $56.95 billion in 2019 to $45.91 billion in 2020 as the country's imports from the neighbouring country contracted 10.87 per cent to $66.78 billion from $74.92 billion in 2019.

The report further said that 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.

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