Trade With India Declines by 21%

Iran’s trade with India declined by 21.65% during the first five months of 2023 compared with the same period of last year to stand at $843 million, latest data released by the Indian Ministry of Commerce and Industry show. 
Iran’s exports stood at $302 million during the period, registering a 3.07% year-on-year increase. 
The exported goods mainly included petroleum products worth $119 million, dye intermediates worth $71 million and fresh fruit worth $63 million.
Iran’s imports from India during the period stood at $541 million, registering a year-on-year decrease of 30.9%. 
The imports mainly included rice worth $360 million, fresh fruit worth $25 million, tea worth $15 million and organic chemicals worth $14 million.
Iran’s trade with India reached $142 million in May, registering a 29.7% decline compared with the corresponding month of 2022.
Iran exported a total of $45 million (down 10%) to India in the month under review, while Indian exports stood at $97 million (down 36.18%)
Bilateral trade grew around 48% in 2022 compared with the year before to stand at $2.5 billion with Iran’s exports standing at $653 million, registering a 59.57% rise compared with the previous year. Iran’s imports from India stood at $1.84 billion last year, registering a year-on-year rise of 43.86%.