29% Decline in Trade With SAARC

Iran’s trade with the South Asian Association for Regional Cooperation member countries amounted to $4.41 billion, during the first eight months of the current Iranian year (March 20-Nov. 20), down 29.28% compared with the previous year’s $6.24 billion.
SAARC is the regional intergovernmental organization and geopolitical union of states in South Asia. Its member states are Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka. 
As per the latest statistics released by the Islamic Republic of Iran Customs Administration, India accounted for the largest portion of the total amount, as the two countries exchanged $2.03 billion worth of non-oil goods and commodities during the eight months under review. However, a year-on-year comparison of the figures reveals a 41.64% drop in Iran-India trade.