Data

How India’s trade with Iran could get affected amid rising Iran-U.S. tensions

Gas flares from an oil production platform, as an Iranian flag is seen in the foreground, at the Soroush oil fields in the Persian Gulf, some 1,250 km south of the capital Tehran. File

Gas flares from an oil production platform, as an Iranian flag is seen in the foreground, at the Soroush oil fields in the Persian Gulf, some 1,250 km south of the capital Tehran. File   | Photo Credit: REUTERS

India-Iran trade has grown in the last 20 years despite sanctions against the west Asian country

Rising tensions between Iran and the U.S. may affect India-Iran trade, which has grown in recent years despite sanctions against the West Asian country. Specifically, imports of methanol, pistachios, crude oil, and exports of varieties of tea, rice and synthetic fibres may get affected if severe sanctions are imposed.

India’s imports from Iran

The graph shows India’s imports from Iran in $ million for various products and their % share of total imports between 2014 and 2019. For instance, India imported $34 million worth kiwi fruits from Iran in this period, which formed 21.6% of India’s total kiwi imports.

Products imported by India

image/svg+xml 50 20 10 5 2 1 0.5 0.2 0.1 0.05 Pistachios (In shell) Pistachios (Shelled) Kiwi Almonds Dates Between 2014 and 2019, India imported more than 10% of these 16 products from Iran Mean Mean 1 10 100 1000 10000 % share of total import of product Value of products from Iran ($ million) Close to 10% of India's oil imports was met by crude from Iran
 

India’s exports to Iran 

The graph shows India’s exports to Iran in $ million for various products and their % share of total exports between 2014 and 2019. For instance, India exported $95 million worth synthetic fibre variety (acrylic or modacrylic), which formed 55% of India’s total exports of that commodity.

Products exported by India

image/svg+xml 50 20 10 5 2 1 0.5 0.2 0.1 0.05 10 50 200 1000 5000 Mean Vaccines for human medicine Semi/wholly milled rice Tea varieties Cane sugar Turmeric Synthetic fibre varieties Some varieties of black tea and milled rice witnessed high demand from Iran in the last fve years Mean % share of total export of product Value of products to Iran ($ million) Between 2014-19, India exported more than 10% of these seven products to Iran
 

Import history

In the time periods mentioned in the table, imports from Iran formed about 2-3% of India’s total imports in terms of product value. After a peak in 2004-2009, it has stagnated since.

What was the value of Iranian imports to India

image/svg+xml Period $ million % 2014-2019 50,377.44 2.3 2009-2014 58,160.84 2.78 2004-2009 32,051.6 3.2 1999-2004 2,109.63 0.72 1996-1999 1,967.14 1.6
 

Export history

In the same period, exports to Iran formed 1% of India’s total exports in terms of product value. Like imports, export growth has also stagnated in the last 10 years.

What was the value of Indian exports to Iran

image/svg+xml Period $ million % 2014-2019 15,499.6 1.05 2009-2014 15,079.8 1.12 2004-2009 8,344.2 1.26 1999-2004 2,204.9 0.91 1996-1999 525.8 0.52
 

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Printable version | Feb 17, 2020 8:31:39 AM | https://www.thehindu.com/data/how-indias-trade-with-iran-could-get-affected-amid-rising-iran-us-tensions/article30625426.ece

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