TEHRAN - India’s Ministry of Commerce and Industry in its latest report said the value of trade between Tehran and New Delhi increased by 21 percent in November 2023 compared to the same month in 2022.

The trade exchange between the two countries reached $191 million in November 2023, while the figure was reported to be $158 million in the same month of the previous year.

As reported, India's exports to Iran stood at $132 million in November 2023, registering a growth of 30 percent compared to November 2022. Iranian exports to Iran in the mentioned month also reached $59 million with a growth of five percent, year on year.

In November 2022, India exported $102 million of goods to Iran and imported $56 million from the Islamic Republic.

The two countries exchanged over $1.6 billion of products in the first 11 months of 2023, 30 percent less than the figure for the same period in 2022.

Iran and India trade exchanges exceeded $2.291 billion during January-November 2022, the report added.

India exported $1.021 billion worth of products to Iran in the first 11 months of 2023, registering a 40 percent decline compared to the same period of 2022.

India had exported $1.685 billion worth of products to Iran from January to November 2022.

According to the ministry, India imported $588 million worth of products from Iran between January and November 2023, while this Asian country had imported $606 million worth of products from Iran in January-November 2022.

Oil products were the major products imported by India from Iran in this period and rice was the top product imported by the Islamic Republic.

Oilseed meal, fruits, and tea were also among India’s top exported products to Iran during this period.

EF/MA