Iran is having severe sanctions by US president Donald trump over nuclear program. India is developing Chabahar port in Iran for tactical reasons to gain access in middle east. India imports mineral oils and mineral fuel from Iran. Trade deficit due to oil is evident to the tune of 8.4 billion USD. India exported goods worth 2.6 billion while imported for 11.11 billions US dollars.
Key Points of India Iran trade balance in 5 years
- Export to Iran increased by 11.5% in FY 2017-18
- Import from Iran increased by 5.8%
- India’s export to Iran in 5 years is highest in 2013-14 at 4.99 billions USD.
- India’s import from Iran is highest in 2017-18 at 10.9 11.11 USD.
- Trade balance is in favor of Iran in tune of 8.45 billions USD.
- India’s total export was highest in 2013-14 at 314 billion USD in last 5 years.
- India’s import from Iran is increasing and it has been increased 11% since 2013-14
Also Read,India Japan trade analysis
Top 25 commodities imported from Iran by India in 2017-18
| Country: Iran, Value in Million $ US | ||||
| S.No. | Commodity | 2016-17 | 2017-18 | %Growth |
| 1 | Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. | 9,006.29 | 9,232.61 | 2.51 |
| 2 | Fertilizers. | 315.63 | 529.49 | 67.76 |
| 3 | Organic Chemicals | 505.66 | 452.96 | -10.42 |
| 4 | Inorganic Chemicals; Organic Or Inorganic Compounds Of Precious Metals, Of Rare-Earth Metals, | 212.34 | 282.46 | 33.02 |
| 5 | Plastic And Articles Thereof. | 110.83 | 255.26 | 130.33 |
| 6 | Edible Fruit And Nuts; Peel Or Citrus Fruit Or Melons. | 138.73 | 157.76 | 13.72 |
| 7 | Salt; Sulfur; Earths And Stone; Plastering Materials, Lime And Cement. | 39.47 | 60.72 | 53.83 |
| 8 | Miscellaneous Chemical Products. | 42.45 | 40.32 | -5.02 |
| 9 | Iron And Steel | 15.32 | 18.97 | 23.88 |
| 10 | Glass And Glassware. | 27.13 | 13.28 | -51.06 |
| 11 | Raw Hides And Skins (Other Than Fur skins) And Leather | 11.28 | 12.52 | 11 |
| 12 | Rubber And Articles Thereof. | 7.64 | 11.66 | 52.61 |
| 13 | Ores, Slag And Ash. | 11.64 | 11.39 | -2.16 |
| 14 | Zinc And Articles Thereof. | 3.49 | 10.29 | 194.46 |
| 15 | Natural Or Cultured Pearls,Precious Or Semiprecious Stones,Pre.Metals,Clad With Pre.Metal;Coin. | 0.13 | 6.89 | 5,379.09 |
| 16 | Coffee, Tea, Mate And Spices. | 1.14 | 3.11 | 173.52 |
| 17 | 2.7335 | 2.3866 | ||
| 18 | Lac; Gums, Resins And Other Vegetable Saps And Extracts. | 2.26 | 1.95 | -13.85 |
| 19 | Lead And Articles Thereof. | 0.87 | 1.74 | 100.76 |
| 20 | Soap, Organic Surface-Active Agents, Washing Preparations, Lubricating Preparations, Artificial Waxes, Prepared Waxes, Polishing Or Scouring Prep. | 1.39 | 1.52 | 9.46 |
| 21 | Wool, Fine Or Coarse Animal Hair, Horsehair Yarn And Woven Fabric. | 1.18 | 1.37 | 16.55 |
| 22 | Impregnated, Coated, Covered Or Laminated Textile Fabrics; Textile Articles Of A Kind Suitable For Industrial Use. | 0.02 | 0.95 | 4,525.37 |
| 23 | Oil Seeds And Olga. Fruits; Misc. Grains, Seeds And Fruit; Industrial Or Medicinal Plants; Straw And Fodder. | 0.49 | 0.73 | 48.73 |
| 24 | Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. | 1.81 | 0.66 | -63.55 |
| 25 | Live Trees And Other Plants; Bulbs; Roots And The Like; Cut Flowers And Ornamental Foliage. | 0.02 | 0.64 | 3,084.00 |
Top 25 commodities exported to Iran by India in 2017-18
| Country: Iran in Million $ US | ||||
| S.No. | Commodity | 2016-17 | 2017-18 | %Growth |
| 1 | Cereals. | 570.5 | 949.7 | 66.5 |
| 2 | Coffee, Tea, Mate And Spices. | 132.6 | 164.0 | 23.7 |
| 3 | Organic Chemicals | 168.1 | 146.9 | -12.6 |
| 4 | Iron And Steel | 95.2 | 137.2 | 44.1 |
| 5 | Nuclear Reactors, Boilers, Machinery And Mechanical Appliances; Parts Thereof. | 155.3 | 129.4 | -16.7 |
| 6 | Man-Made Staple Fibers. | 129.2 | 116.5 | -9.9 |
| 7 | Inorganic Chemicals; Organic Or Inorganic Compounds Of Precious Metals, Of Rare-Earth Metals, Elem. Or Of Isotopes. | 85.1 | 90.8 | 6.8 |
| 8 | Essential Oils And Resinous; Perfumery, Cosmetic Or Toilet Preparations. | 38.7 | 87.5 | 126.3 |
| 9 | Miscellaneous Chemical Products. | 86.9 | 86.5 | -0.5 |
| 10 | Electrical Machinery And Equipment And Parts Thereof; Sound Recorders And Reproducers, Television Image And Sound Recorders And Reproducers,And Parts. | 67.0 | 80.5 | 20.1 |
| 11 | Articles Of Iron Or Steel | 99.4 | 51.8 | -47.9 |
| 12 | Pharmaceutical Products | 69.8 | 50.9 | -27.1 |
| 13 | Vehicles Other Than Railway Or Tramway Rolling Stock, And Parts And Accessories Thereof. | 46.2 | 43.1 | -6.7 |
| 14 | Tanning Or Dyeing Extracts; Tannin Dyes, Pigments And Other Coloring Matter; Paints Putty And Other Mastic; Inks. | 33.5 | 38.6 | 15.4 |
| 15 | Paper And Paperboard; Articles Of Paper Pulp, Of Paper Or Of Paperboard. | 32.5 | 38.2 | 17.6 |
| 16 | Oil Seeds And Olga. Fruits; Misc. Grains, Seeds And Fruit; Industrial Or Medicinal Plants; Straw And Fodder. | 40.9 | 36.9 | -9.9 |
| 17 | Man-Made Filaments. | 17.1 | 33.5 | 96.4 |
| 18 | Plastic And Articles Thereof. | 57.6 | 30.6 | -46.9 |
| 19 | Edible Fruit And Nuts; Peel Or Citrus Fruit Or Melons. | 40.1 | 29.6 | -26.3 |
| 20 | Copper And Articles Thereof. | 24.0 | 26.5 | 10.3 |
| 21 | Other Made Up Textile Articles; Sets; Worn Clothing And Worn Textile Articles; Rags | 10.7 | 24.5 | 128.8 |
| 22 | Mineral Fuels, Mineral Oils And Products Of Their Distillation; Bituminous Substances; Mineral Waxes. | 28.3 | 23.4 | -17.4 |
| 23 | Rubber And Articles Thereof. | 31.4 | 22.8 | -27.3 |
| 24 | Optical, Photographic Cinematographic Measuring, Checking Precision, Medical Or Surgical Inst. And Apparatus Parts And Accessories Thereof; | 17.9 | 20.0 | 11.2 |
| 25 | Cotton. | 31.6 | 16.8 | -46.7 |
Source Ministry of Commerce and Industry, India