Value of Iran’s non-oil exports to India reaches USD1.1B in 7 months
Date
11/13/2024 4:05:50 AM
(MENAFN) In the first seven months of the current Iranian calendar year (March 20–October 21), Iran exported non-oil commodities valued at USD1.1 billion to India, according to Mohammad Rezvanifar, the former head of the Islamic Republic of Iran Customs Administration (IRICA). India ranked as the seventh-largest export destination for Iran’s non-oil goods during this period.
For the previous Iranian calendar year (ending March 19), Iran's total exports to India amounted to USD2.217 billion, as reported by an official from Iran’s Trade Promotion Organization (TPO). The balance of trade between the two countries turned positive last year, with Iran’s imports from India totaling USD1.916 billion, according to Hadi Talebian Moghaddam.
India's Ministry of Commerce and Industry reported that the total trade value between Iran and India in 2023 was USD1.836 billion, a 26 percent decline compared to USD2.499 billion in 2022. During this period, Iran exported goods worth USD699 million to India, showing little change from the previous year.
In terms of imports, petroleum products were the primary goods that India purchased from Iran, with USD221 million worth imported in 2023, reflecting a 26 percent increase compared to the previous year. Additionally, raw materials for dye production and various fruits were key exports from Iran to India. India's exports to Iran fell by 35 percent in 2023, reaching USD1.187 billion, down from USD1.847 billion in 2022.
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