As reported by the India’s Ministry of Commerce and Industry, the bilateral trade between Iran and India in the first half of the current year stood at about $1 billion. Iran’s exports to India in this period registered a five percent growth compared to the first half of 2022.
The ministry put the total trade exchanges of this country with Iran from January to June 2023 at $993 million. The total trade exchanges in this timespan exceeded $1.373 billion, registering a 27 percent decline compared to the same period of last year.
The reduction was due to the considerable drop in India’s exports to Iran. India’s export of products to Iran from January to June 2023 hit $641 million, showing a 38 percent slump compared to last year’s corresponding period.
India had exported $1.38 billion worth of products to Iran from January to June 2022.
But India’s import of products from Iran in the first half of the current year in 2023 hit $352 million, showing a five percent growth compared to last year’s corresponding period.
