China’s $1.9 Trillion Manufacturing Trade Surplus vs. India’s Persistent Deficit

Between 2000 and 2024, China’s trade surplus in manufactured goods surged from $50 bill

ion to a record $1.9 trillion, driven by its rise as the world’s manufacturing powerhouse. In contrast, India consistently ran deficits in manufactured goods, reaching $37 billion in 2024. The diverging trends underscore the structural differences in the two countries’ industrial development and export competitiveness over the past two decades.