TEHRAN (Tasnim) – India’s Ministry of Commerce and Industry put the country’s value of trade with Iran in the first three months of 2023 at $510 million.
In this period, India’s import of non-oil products from Iran registered a 12 percent growth, the ministry added.
The trade exchanges between Iran and India, meanwhile, showed a 24 percent decline compared to last year’s corresponding period.
The total value of trade exchanges between Iran and India in the first three months of 2022 had exceeded $678 million.
India’s export slump to Iran has been cited as the main reason behind the reduced value of trade exchanges between the two sides from January to March 2023.
In this period, India exported $322 million worth of goods to Iran, showing a 37 percent decline compared to a year earlier.
India had exported $510 million worth of products to Iran from January to March 2022.
Meanwhile, India imported $188 million worth of non-oil goods from Iran in the first three months of the current year, showing a 12 percent growth compared to last year’s corresponding period.
Oil products accounted for the main part of exports from Iran to India from January to March 2023. India imported $65 million worth of oil products from Iran in this period.