Iran exports USD1.8B worth of commodities to India in 10 months

(MENAFN) During the first ten months of the current Iranian calendar year, Iran exported commodities valued at USD1.8 billion to India, making it the fifth top export destination for Iranian products, according to Mohammad Rezvanifar, the head of the Islamic Republic of Iran Customs Administration (IRICA).

In return, India was Iran’s fifth source of imports, supplying commodities worth USD1.6 billion during the same period, as announced by Rezvanifar.

The Ministry of Commerce and Industry in India reported that the trade between Iran and India reached USD1.836 billion in 2023, marking a 26 percent decline compared to USD2.499 billion in 2022.

Iranian exports to India remained relatively stable at USD699 million, with no significant change from 2022. India primarily imported petroleum products from Iran, amounting to USD221 million, which represented a 26 percent increase compared to the previous year.

Additionally, raw materials for dye production and various fruits were among the top goods exported to India in 2023.

In 2023, India's exports to Iran experienced a 35 percent decrease, totaling USD1.187 billion compared to USD1.847 billion in the previous year.

The primary export item from India to Iran was rice, which saw a 34 percent decline from USD1.98 billion in 2022 to USD723 million in 2023.

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