Bilateral Trade

Bilateral Trade

Bilateral Trade

 

India-Iran bilateral trade during the fiscal year 2018-19 was USD 17.03 billion as compared to USD 13.76 billion in 2017-18, an increase of 23.8%. During 2018-19, Indian exports increased by 32.3% and accounted for USD 3.5 billion, whereas, imports from Iran increased by 21.8% and amounted to USD 13.5 billion.

Trade figures in US$ billion for the past few years are as follows-

 

Year

India’s Exports to Iran

India’s Imports from Iran

Trade Imbalance

Total Trade

Growth Rate (%)

2016-17

2.39

10.50

8.11

12.89

42.38

2017-18

2.65

11.11

8.45

13.76

6.7

2018-19

3.51

13.52

10.01

17.03

23.8

(Source- Ministry of Commerce & Industry, Government of India)

Major Indian exports to Iran include rice, tea, iron, organic chemicals, insecticides, fabrics, man-made staple fibres, electrical machinery and parts thereof, drugs/pharmaceuticals & fine chemicals, paper and paperboard, etc.

Major Indian imports from Iran include crude oil, inorganic/organic chemicals, fertilizers, plastic and articles, edible fruit and nuts, glass and glassware, natural or cultured pearls, precious or semiprecious stones, leather, etc.

 
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