File photo shows containers at the Yangshan Deep Water Port in Shanghai.
| Photo Credit: Reuters
The trade deficit, a source of friction between India and China, declined to a five year-low of $45.8 billion, the lowest since 2015.
India’s trade with China last year fell to the lowest since 2017, with the trade imbalance declining to a five-year low on the back of a slump in India’s imports from China.
Two-way trade in 2020 reached $87.6 billion, down by 5.6%, according to new figures from China’s General Administration of Customs (GAC). India’s imports from China accounted for $66.7 billion, declining by 10.8% year-on-year and the lowest figure since 2016.