Iran boosts imports from India despite huge drop in total imports

Business Materials 3 December 2013 12:15 (UTC +04:00)

Baku, Azerbaijan, Dec. 3

By Dalga Khatinoglu - Trend:

Iran increased imports from India during last eight months to Nov.22 by above 135.46 percent, despite the country's total imports dropped by 22.75 percent during this period.

According to the Custom Administration report, published on Dec.1, Iran imported $2.607 billion worth of goods from India.

Iran's rice import also increased by more than 111 percent in first eight months of Iranian calendar year, started on march 20, compared with the corresponding period last year. India shares in 70.73 percent of Iran's total rice imports.

India exported 884,841 tons of rice to Iran with above $1.138 billion worth.

Iran also exported $1.659 billion worth of non-oil exports (including gas condensate) to India, indicates 8.89 percent decrease compared to the same period in last year.

India ranks third place in term on export amount to Iran and forth in Iran's the most exports target.

Iran's total import during mentioned period was $28.247 million, while non-oil export (including gas condensate) was $24.605 billion.

Asia shares about 92.96 percent of Iran's total non-oil export and 75.7 percent of the country's total imports.

10-month period

According the Custom Administration report, Iran's total non-oil exports to India during Jan-Nov period is $2.054 billion, indicates 10.44 percent decrease compared with the corresponding period last year.

The amount of imports from India during this period is $3.065 billion, indicates 131.59 percent increase compared to the same period in last year.

India is also Iran's second major crude oil importer. India aimed at importing 220,000 barrels per day of Iranian crude oil for this fiscal year, but statistics indicate the volume was 40 percent less than mentioned figure during last ten months.

Iran's total imports during first 10 months of 2013 is $37.191 billion, indicates 24.05 percent decrease, compared to first ten months of 2012, while exports amounted at $25.284 billion, indicates 13.06 percent decrease.