According to the previous head of the Islamic Republic of Iran Customs Administration (IRICA), Iran exported non-oil items worth $1.1 billion to India during the first seven months of the current Iranian calendar year (March 20–October 21).
According to a representative of Iran’s Trade Promotion Organization (TPO), Iran sold $2.217 billion worth of commodities to India in the most recent Iranian calendar year, which concluded on March 19.
It is estimated tha Iran’s imports from India last year were $1.916 billion, pointing out that the country’s trade balance with India improved last year.
According to India’s Ministry of Commerce and Industry, trade between Iran and India was valued at $1.836 billion in 2023.
Compared to 2022, when the two nations’ trade exchange was estimated to reach $2.499 billion, it fell by 26% in 2023.
Iran shipped $699 million worth of goods to India last year, according to data from the Indian Ministry, which shows no discernible difference from 2022.
The most expensive things that India imported from Iran in 2023 were petroleum products, which totaled $221 million this year. Twenty-six percent more Iranian oil products were imported by India in 2023 than the year before.
Various fruits and raw materials for dye manufacture were also among the top exports to India in 2023.
Between January and December 2023, India’s exports to Iran fell by 35% to $1.187 billion. India had shipped $1.847 billion worth of commodities to Iran the year before.
India’s tea export to Iran also declined by almost a third, from $86 million in 2022 to $30 million in 2023. The country’s fruit exports to Iran however increased by 14 percent and reached $55 million and spice exports decreased by 28 percent to $15 million.
