TEHRAN (Iran News) – Iran’s exports to India in the first 9 months of the current year have increased by 74% comparing to the same period in the preceding year while its imports have declined by 37%.
According to the report released by Tehran Chamber of Commerce, the trade volume between Iran and India in the first three quarters of the current Iranian calendar year has stood at around $2.4b that non-oil exports of Iran to India are valued at $1.34b while imports at $1b.
Accordingly, the value of exports comparing to the same period last year has increased by 74% while the value of imports has declined by 37%. Therefore the trade balance has been positive and in favor of Iran by $296m.
The report also shows that India has been the sixth export destination of Iranian goods and the country has been the seventh exporters to Iran.
TCCIMA’s report shows that Iran has exported some 5m tons of goods to India in 9 months which shows 5% growth in terms of weight.
15 imported items of goods from India has accounted for 64% of Iran’s total imports in the first three quarters of the current year and rice is the major export of India to Iran which is valued at around $220m. Black tea, aluminum oxide and green banana have been the other major exports of India to Iran.
Meanwhile methanol and water free ammonia have been Iran’s major exports to India in the same period. Sponge iron, pistachio, urea and toluene have been the other major exporting items of Iran to India in 9 months.
According to the report, the trade between Iran and India can improve in the remaining days of the current Iranian calendar year and the total trade volume can exceed $3b.