India's imports from China surge 15.55% to $10.8 billion in August

China import rise: India saw a notable increase in imports from China, which rose by 15.55 per cent to $10.8 billion, in August. Conversely, exports to China fell by 22.44 per cent to $1 billion, according to data from the commerce ministry.

For the April-August period of the current fiscal year, India’s exports to China have decreased by 8.3 per cent to $5.8 billion, while imports from China have grown by 10.96 per cent to $46.65 billion. This has resulted in a significant trade deficit of $35.85 billion.

Diverse trade trends

During the same period, India’s exports to several other countries, including the US, UAE, Singapore, Bangladesh, Australia, South Africa, France, Nepal, Belgium, and Turkey, also witnessed declines. Meanwhile, imports from the UAE, Switzerland, Korea, Japan, Thailand, Vietnam, and Taiwan experienced growth.

Specifically, exports to the US dropped by 6.29 per cent to $6.55 billion in August, while imports from the US decreased by 6.3 per cent to $3.82 billion. However, for the April-August 2024-25 period, exports to the US increased by 5.72 per cent to $34 billion, and imports grew by 3.72 per cent to $19 billion, resulting in a trade surplus of $15 billion.

Russia imports plummet

Imports from Russia saw a sharp decline of about 40 per cent in August, totalling $2.57 billion. Over the April-August 2024-25 period, imports from Russia grew by 6.39 per cent to $27.35 billion, primarily driven by crude oil purchases.

The US was India’s largest trading partner in 2023-24, succeeding China, which had been the top trading partner from 2013-14 to 2017-18 and again in 2020-21. Prior to China, the UAE held the position of India's largest trading partner, while the US also topped the list in 2021-22 and 2022-23.

(With PTI Inputs)