India's trade deficit with China was over 100 billion U.S. dollars in 2022. The value of bilateral trade between the two countries was worth more than 136 billion U.S. dollars for the same year. India-China bilateral trade has rapidly expanded, propelling China to become India's largest goods trading partner.

This statistic shows the United States goods trade deficit with China from 2014 to 2024. In 2024, the value of U.S. imports from China exceeded the exports to China by around ***** billion U.S. dollars.

China Exports to India was US$120.46 Billion during 2024, according to the United Nations COMTRADE database on international trade. China Exports to India - data, historical chart and statistics - was last updated on July of 2025.

India trade balance for 2023 was -73.51 billion US dollars, a 38.5% decline from 2022.

<ul style='margin-top:20px;'>

<li>India trade balance for 2022 was <strong>-119.53 billion US dollars</strong>, a <strong>43.78% increase</strong> from 2021.</li>
<li>India trade balance for 2021 was <strong>-83.13 billion US dollars</strong>, a <strong>690.53% increase</strong> from 2020.</li>
<li>India trade balance for 2020 was <strong>-10.52 billion US dollars</strong>, a <strong>85.61% decline</strong> from 2019.</li>
</ul>External balance on goods and services (formerly resource balance) equals exports of goods and services minus imports of goods and services (previously nonfactor services). Data are in current U.S. dollars.

In 2024, China's merchandise trade surplus amounted to around 992.2 billion U.S. dollars, significantly higher than in the previous year. The merchandise trade balance is the value of exported goods minus the value of imported goods. A positive value indicates a trade surplus, while a negative value indicates a trade deficit. Trade balance and partnersIn 2024, Chinese imports of goods amounted to approximately 2.59 trillion U.S. dollars, whereas total exports added up to about 3.58 trillion U.S. dollars. In contrast, China’s invisible trade balance, an indicator measuring services and government transfers between countries, closed with a deficit and ranged at about -92 billion U.S. dollars at the end of 2022. Being an economy heavily reliant on export, China ranked first among countries with the highest trade surplus, followed by Germany and Russia. The United States, with imports exceeding exports by approximately 1.15 trillion U.S. dollars that year, ranked first among leading import countries worldwide. In 2023, the value of the U.S. imports from China exceeded the exports to China by around 279.4 billion U.S. dollars. Another important trade partner for China is the European Union. In 2023, the EU imported around 514 billion euro-worth of goods from China, leading to a trade deficit of around 291 billion euros. Product categories with the highest trade deficit were mostly finished goods such as machinery and transport equipment, clothing, and other manufactures, whereas product categories with a more balanced trade sheet consisted of raw materials and agricultural products to a large extent.

India recorded a trade deficit of 21.88 USD Billion in May of 2025. This dataset provides the latest reported value for - India Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

China accounted for an average of 30 percent in imports supporting select industries in India in financial year 2019. Electrical machinery and equipment accounted for the highest in that time period at 40 percent. Plastics, on the other hand acquired 18 percent of imports from China that year. India depended on China for a variety of products spread across multiple industries.

Trade relationship between India and China

The trade relationship between the two major global economies started a few decades ago. However, India has had an unfavorable trade balance with China as the trade deficit gap has widened over the years. The Indian food product imports has struggled and it is evident in its decreased value since 2008. In 2019, China was India’s leading import partner. For the same year, China was also the second leading export partner of India.

India’s export value

India exported a variety of products to a long list of countries in the world. In 2019, engineering goods valued at more than five trillion Indian rupees was the leading commodity exported by India. The economic slowdown in 2019 and the current lockdown during the coronavirus (COVID-19) pandemic has affected industrial production across all sectors. Following this, the country's exports saw a drastic decline in various products.

India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data was reported at 4.012 USD bn in 2017. This records a decrease from the previous number of 6.111 USD bn for 2016. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data is updated yearly, averaging 120.694 USD mn from Dec 1948 (Median) to 2017, with 70 observations. The data reached an all-time high of 7.704 USD bn in 2014 and a record low of 1.900 USD mn in 1960. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Annual.

China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data was reported at 51.788 USD bn in 2017. This records an increase from the previous number of 47.676 USD bn for 2016. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data is updated yearly, averaging 91.720 USD mn from Dec 1961 (Median) to 2017, with 38 observations. The data reached an all-time high of 51.788 USD bn in 2017 and a record low of -1.747 USD bn in 2004. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.DOT: Trade Balance: by Country: Annual.

India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data was reported at 1.624 USD bn in Mar 2018. This records an increase from the previous number of 352.250 USD mn for Dec 2017. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data is updated quarterly, averaging 70.476 USD mn from Mar 1960 (Median) to Mar 2018, with 233 observations. The data reached an all-time high of 2.299 USD bn in Sep 2014 and a record low of -243.191 USD mn in Mar 2009. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Quarterly.

China plans to boost imports from India to address trade imbalance, as bilateral trade reaches $101.7 billion. This initiative coincides with US tariff announcements and aims to strengthen Sino-Indian relations.

China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data was reported at 13.021 USD bn in Mar 2018. This records a decrease from the previous number of 13.437 USD bn for Dec 2017. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data is updated quarterly, averaging 35.815 USD mn from Mar 1981 (Median) to Mar 2018, with 149 observations. The data reached an all-time high of 14.087 USD bn in Sep 2017 and a record low of -1.111 USD bn in Mar 2004. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.DOT: Trade Balance: by Country: Quarterly.

In 2023, India's trade deficit of goods amounted to around *** billion U.S. dollars. Balance of trade The trade balance, also called commercial balance or balance of trade, is the difference between the value of a country’s exports and its imports over a certain timespan. If a country exports more goods or services than in imports, the trade balance is positive – a so-called trade surplus. If a country imports more than it exports, the trade balance is in the red – a trade deficit. Among other factors, trade is affected by production, currency exchange rates, and taxes, and of course by the availability of raw materials and prices of goods. India’s trade is in the red The reason for India’s persistent trade deficit is simple: The country imports far more than it exports. India is a very fast-growing economy with the majority of its GDP generated by services, while most of its workforce is employed in agriculture. India’s main imports include chemicals, crude oil, and machinery, while India exports textiles, software, petroleum products, and leather goods. One reason for the increasing trade deficit is the price of crude oil and its rapid economic growth, which means that export trade now needs to catch up to the demand.

China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data was reported at 5.333 USD bn in May 2018. This records an increase from the previous number of 4.263 USD bn for Apr 2018. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data is updated monthly, averaging 13.250 USD mn from Jan 1981 (Median) to May 2018, with 449 observations. The data reached an all-time high of 5.333 USD bn in May 2018 and a record low of -545.262 USD mn in Mar 2005. China Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: India data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.DOT: Trade Balance: by Country: Monthly.

Hong Kong SAR (China) HK: Trade Balance: Services: India data was reported at 3,524.000 HKD mn in 2021. This records an increase from the previous number of 552.000 HKD mn for 2020. Hong Kong SAR (China) HK: Trade Balance: Services: India data is updated yearly, averaging 1,769.000 HKD mn from Dec 2005 (Median) to 2021, with 17 observations. The data reached an all-time high of 3,524.000 HKD mn in 2021 and a record low of 511.000 HKD mn in 2007. Hong Kong SAR (China) HK: Trade Balance: Services: India data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s Hong Kong SAR (China) – Table HK.OECD.TISP: Trade in Services: Trade Balance: by Country: Non OECD Member: Annual.

China's total Exports in 2024 were valued at US$3.58 Trillion, according to the United Nations COMTRADE database on international trade. China's main export partners were: the United States, Hong Kong and Vietnam. The top three export commodities were: Electrical, electronic equipment; Machinery, nuclear reactors, boilers and Vehicles other than railway, tramway. Total Imports were valued at US$2.59 Trillion. In 2024, China had a trade surplus of US$991.41 Billion.

Exports to China in India decreased to 128.83 INR Billion in January from 138.83 INR Billion in December of 2023. This dataset includes a chart with historical data for India Exports to China.

India IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Macao data was reported at -0.130 USD mn in May 2018. This records an increase from the previous number of -0.520 USD mn for Apr 2018. India IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Macao data is updated monthly, averaging 0.024 USD mn from Sep 1969 (Median) to May 2018, with 386 observations. The data reached an all-time high of 9.865 USD mn in Oct 2009 and a record low of -2.182 USD mn in Dec 1989. India IN: Trade Balance: Emerging and Developing Economies: Emerging and Developing Asia: China, People Republic: Macao data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Monthly.

In 2023, China was the country with the highest trade surplus, with approximately ****** billion U.S. dollars. The leading trade nations Typically a trade surplus indicates a sign of economic success and a trade deficit indicates an economic weakness. However, if that were true, then the top four, China, Germany, Russia and Ireland, would be considered the best performing countries in the world. However, this would mean that the United States, Great Britain, India and France would be among the weakest nations considering that they are four countries with the highest trade deficit. In fact, they are leading industrial nations. While China is known for producing and exporting products at a competitive price, it has undervalued its exchange rate in order to promote exports. However, China is now working to reduce its reliance on exports even though they continue to export large and increasing quantities of goods. In the case of Germany, the value of the euro may not be high enough, however growth concerning the value of exports has slowed over the past few years. In contrast, the value of the dollar in the United States may be too high, favoring imports as opposed to exports.

India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data was reported at -527.750 USD mn in May 2018. This records a decrease from the previous number of -212.090 USD mn for Apr 2018. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data is updated monthly, averaging 24.195 USD mn from Jan 1960 (Median) to May 2018, with 695 observations. The data reached an all-time high of 1.336 USD bn in Sep 2017 and a record low of -527.750 USD mn in May 2018. India IN: Trade Balance: Advanced Economies: China, People Republic: Hong Kong data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s India – Table IN.IMF.DOT: Trade Balance: by Country: Monthly.