Trade war impact: Indian exports to China up 25% in Jun-Nov 2018 to $8.5 bn

The tariff war between the US and China is benefitting India as its exports to the neighbouring country have increased by about 25 per cent during the June-November 2018 period to $8.46 billion, apex exporters body (FIEO) said on Thursday.

Exports to China had stood at $6.37 billion in June-November 2017.

In June and September 2018, the US announced high customs duties on several Chinese goods. In retaliation, China also raised levies on American goods.

“US-China tariff war is benefiting India. Exports to China jumped from $6.37 billion in June-November 2017 to $8.46 billion in June- November 2018,” Federation of Indian Export Organisations (FIEO) President Ganesh
Kumar Gupta said in a statement. He said commodities that have exhibited high growth during the period to China include petroleum products, chemicals, cotton yarn, plastic raw material, and marine products.

Growth in exports to China is beneficial for India as it has a huge trade deficit with the neighbouring country. Trade deficit with China increased to $63.12 billion in 2017-18 from $51.11 billion in 2016-17.

Source : https://yourbusiness.azcentral.com/