Trade with China
India imported 8 times as much from China as it exported in 2025–26
Observations: 2025–26; current year through June 2026
Merchandise imports from China were $113 billion, against exports of $14.3 billion, in the latest completed financial year. This comparison measures value, not physical quantities.
What the figures measure
Merchandise trade covers goods, not services. China is reported separately from Hong Kong.
Trade balance equals India’s exports minus its imports. A negative balance is a merchandise deficit.
Current-year figures are provisional and cumulative from April through the stated month. They are kept separate from completed financial years.
Merchandise imports from China
data.indiadispatch.com
Current financial year to date
| Period | Exports to China | Imports from China | Balance |
|---|---|---|---|
| April through June 2026 | $5.59 billion | $38 billion | −$32.5 billion |
data.indiadispatch.com
Completed financial years
| Financial year | Exports to China | Imports from China | Balance |
|---|---|---|---|
| 2025–26 | $14.3 billion | $113 billion | −$99.2 billion |
| 2024–25 | $16.7 billion | $102 billion | −$85.1 billion |
| 2023–24 | $15.3 billion | $98.5 billion | −$83.2 billion |
| 2022–23 | $21.3 billion | $94.6 billion | −$73.3 billion |
| 2021–22 | $21.2 billion | $65.2 billion | −$44 billion |
| 2020–21 | $16.6 billion | $65.3 billion | −$48.6 billion |
| 2019–20 | $16.8 billion | $70.3 billion | −$53.6 billion |
| 2018–19 | $13.3 billion | $76.4 billion | −$63 billion |
| 2017–18 | $10.2 billion | $61.3 billion | −$51.1 billion |
| 2016–17 | $9.01 billion | $61.7 billion | −$52.7 billion |
| 2015–16 | $12 billion | $60.4 billion | −$48.5 billion |
| 2014–15 | $14.9 billion | $51 billion | −$36.2 billion |
| 2013–14 | $13.6 billion | $52.2 billion | −$38.7 billion |
| 2012–13 | $18.1 billion | $54.7 billion | −$36.6 billion |
| 2011–12 | $14.2 billion | $43.5 billion | −$29.3 billion |
data.indiadispatch.com
Source: Department of Commerce. India Dispatch Research.