Iran-India trade volume in 2023 announced

The total trade volume between Iran and India amounted to $1.836 bln in 2023, India's Ministry of Commerce and Industry said in a statement, Azernews reports.

The trade turnover between the two countries decreased by 26 percent compared to the previous year, when the figure stood at $2.499 bln in 2022.

According to the Ministry, Iran exported $699 mln worth of goods to India in the last year and there was no significant change compared to 2022.

In 2023, petroleum products were the main commodity imported by India from Iran, with India importing such products worth $221 mln this year. This is an increase of 26 percent over the previous year.

Raw materials for dyes and various fruits were also among the largest exports from Iran to India in 2023.

Exports of goods from India to Iran for January-December 2023 decreased by 35 percent to $1.187 bln. In the previous year, exports from India to Iran amounted to $1.847 bln.

Rice was the major export product from India to Iran in 2023. Rice exports from India to Iran declined 34 percent in 2023, from $1.98 bln in 2022 to $723 mln.