Iran has reported a major surge in non-oil exports to India in the nine months to December 21 as trade balance rose to a surplus of nearly US$300 million over the period with a steep decline in imports of staples like sugar.
Figures provided by Tehran’s chamber of commerce (TCCIM) published on Monday showed that Iran’s exports to India had risen by 74% in value terms in March-December last year from the similar period in 2020 to reach a total of $1.34 billion.
That comes as shipments to India had risen by 5% in volume terms over the same period to nearly five million metric tons, showed the figures covered in a report by the ILNA news agency.
Iran’s top export items to India in the nine months to late December included methanol at $116 million, ammonia at $99 million and sponge iron at $83 million, said the TCCIM as it added that pistachio exports had generated $72 million in revenues while toluene and urea shipments had reached $72 million and $55 million, respectively.
Imports from India declined over the March-December period both in value and volume terms as shipments dropped 37% year on year to $1.05 billion for 0.935 million tons of goods, down 47% against the similar period in 2020, showed the figures.
Rice remained Iran’s top import item from India as the country purchased $220 million worth of rice shipments from India in the nine months to late December. That was followed by tea at $104 million and aluminum oxide at $101 million, said the TCCIM report.
The report indicated that Iran’s sugar imports from India had fallen considerably in March-December last year to only $30 million.