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INDIA’S TRADE DEFICIT WITH CHINA FELL TO $48.66 BILLION IN 2019-20

  • Category
    Miscellaneous
  • Published
    9th Jul, 2020

India’s trade deficit with China fell to $48.66 billion in 2019-20 on account of the decline in imports from the neighbouring country

  • India’s trade deficit with China fell to $48.66 billion in 2019-20 on account of the decline in imports from the neighbouring country
  • The trade deficit stood at $53.56 billion in 2018-19 and $63 billion in 2017-18.
  • China accounts for about 14 per cent of India’s imports and is a major supplier for sectors like mobile phones, telecom, power, plastic toys, and critical pharma ingredients.
  • Foreign Direct Investment (FDI) from China in India has dipped to $163.78 million in 2019-20 from $229 million in the previous fiscal, according to the data.

    What is a trade deficit?

    • A trade deficit is an amount by which the cost of a country's importsexceeds its exports. 
    • It is one way of measuring international trade, and it's also called a negative balance of trade.
    • This deficit occurs when a country does not produce everything it needs and borrows from foreign states to pay for the imports. That's called the current account deficit.
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