{"id":10411,"date":"2024-04-15T12:02:45","date_gmt":"2024-04-15T12:02:45","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=10411"},"modified":"2024-04-15T12:02:45","modified_gmt":"2024-04-15T12:02:45","slug":"irans-annual-exports-to-india-hit-2-217-billion","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/10411\/","title":{"rendered":"Iran\u2019s annual exports to India hit $2.217 billion"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Iran has exported $2.217 billion worth of goods to India during the past Iranian calendar year (ended on March 19), according to an official with Iran\u2019s Trade Promotion Organization (TPO).<\/p>\n

Hadi Talebian Moghaddam, the director of TPO department for Indian Subcontinent Affairs, said on Sunday that the figure shows a two percent increase in comparison to the $2.175 billion reported in 2022.<\/p>\n

Noting that Iran\u2019s balance of trade with India turned positive last year, he put Iran\u2019s last year’s imports from India at $1.916 billion.<\/p>\n

India\u2019s Ministry of Commerce and Industry recently issued a report that put the country\u2019s trade exchanges with Iran in January at over $200 million.<\/p>\n

The figure is up three percent in comparison to that of January 2023 when bilateral exchanges stood at $197 million.<\/p>\n

The value of trade between Iran and India reached $1.836 billion in 2023, according to India\u2019s Ministry of Commerce and Industry.<\/p>\n

The trade exchange between the two countries declined by 26 percent in 2023 compared to the previous year, the figure was reported to be $2.499 billion in 2022.<\/p>\n

According to the Indian Ministry data, Iran exported commodities valued at $699 million to India during the past year, registering no significant change from 2022.<\/p>\n

Petroleum products were the top goods imported by India from Iran in 2023, and India imported $221 million worth of such products from Iran this year. The import of Iranian oil products by India in 2023 increased by 26 percent compared to the previous year.<\/p>\n

Raw materials for dye production and various fruits were also among the top exported goods to India in 2023.<\/p>\n

India’s exports to Iran in January-December 2023 experienced a 35 percent decrease and reached $1.187 billion. In the previous year, India had exported $1.847 billion worth of goods to Iran.<\/p>\n

Rice was the top export product of India to Iran in 2023. India’s rice exports to Iran decreased by 34 percent in 2023, falling from $1.98 billion in 2022 to $723 million.<\/p>\n

India’s tea export to Iran also declined by almost a third, from $86 million in 2022 to $30 million in 2023. The country\u2019s fruit exports to Iran however increased by 14 percent and reached $55 million and spice exports decreased by 28 percent to $15 million.<\/p>\n

Updated on