Iran exports nonoil goods worth 11b to India in 7 months

Iran exports non-oil goods worth $1.1b to India in 7 months

TEHRAN- Iran has exported non-oil commodities valued at $1.1 billion to India in the first seven months of the current Iranian calendar year (March 20-October 21), the former head of the Islamic Republic of Iran Customs Administration (IRICA) announced.

Mohammad Rezvanifar said that India was the seventh top export destination of the Iranian non-oil goods in the mentioned seven-month period.

Iran has exported $2.217 billion worth of goods to India during the past Iranian calendar year (ended on March 19), according to an official with Iran’s Trade Promotion Organization (TPO).

Noting that Iran’s balance of trade with India turned positive last year, Hadi Talebian Moghaddam put Iran’s last year's imports from India at $1.916 billion.

The value of trade between Iran and India reached $1.836 billion in 2023, according to India’s Ministry of Commerce and Industry.

The trade exchange between the two countries declined by 26 percent in 2023 compared to the previous year, the figure was reported to be $2.499 billion in 2022.

According to the Indian Ministry data, Iran exported commodities valued at $699 million to India during the past year, registering no significant change from 2022.

Petroleum products were the top goods imported by India from Iran in 2023, and India imported $221 million worth of such products from Iran this year. The import of Iranian oil products by India in 2023 increased by 26 percent compared to the previous year.

Raw materials for dye production and various fruits were also among the top exported goods to India in 2023.

India's exports to Iran in January-December 2023 experienced a 35 percent decrease and reached $1.187 billion. In the previous year, India had exported $1.847 billion worth of goods to Iran.

Rice was the top export product of India to Iran in 2023. India's rice exports to Iran decreased by 34 percent in 2023, falling from $1.98 billion in 2022 to $723 million.

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.

As previously announced by the former head of the Islamic Republic of Iran Customs Administration (IRICA), the value of Iran’s foreign trade reached $99.7 billion during the first seven months of the current Iranian calendar year.

Mohammad Rezvanifar said that of the mentioned figure, $60.2 billion was the value of the country’s export, and $39.5 billion was the worth of the import.

He put the value of non-oil export at $32.5 billion, the oil export at $27 billion, and technical-engineering export at $700 million in the seven-month period.

Saying that the value of the country’s non-oil export rose 15 percent in the first seven months of this year, as compared to the same period of time in the past year, the official put the weight of non-oil export at 88.7 million tons in the mentioned seven-month, with 11.48 percent growth, year on year.

He further put the weight of the seven-month import at 21.7 million tons.

According to Rezvanifar, the average value of each ton of exported goods has increased by three percent to $367 and the average worth of each ton of imported products has risen six percent to $1,819 in the first seven months of this year, as compared to the same time span of the past year.

MA

source: tehrantimes.com