Iran Exports To India Sharply Declined By 11%

ICBPS- Iran’s exports to India have been sharply dropped by 11 percent in 2020. India’s official statistics show a sharp drop in Iran’s exports to the country in 2020.
According to the statistics, India imported $279 million of products from Iran in 2020 while the figure was about $ 3.4 billion in 2019.
The nation’s export to Iran also fell by 42 percent to $2.2 billion.
India was Iran’s second-largest oil purchaser after China before the U.S. sanctions by Donald Trump.
China’s customs statistics also show that its imports from the Islamic Republic fell by less than half, compared to the same period last year.

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Iran’s export to South Korea fell to less than $9 million while the figure was more than $2.1 billion in 2019. South Korea exported $ 186 million to Iran last year.
This is the first time that the exports from China, India, and South Korea to Iran exceed their imports from the country.