2023
Flag  
GDP
$3.57TCURRENT US$
Rnk 5 / 195
2013-2023
Flag
GDP GROWTH
92.1%CURRENT US$
Rnk 19 / 195
2023
Flag
 GDP
$405BCURRENT US$
Rnk 36 / 195
2013-2023
Flag
GDP GROWTH
-19.1%CURRENT US$
Rnk 189 / 195
2023
Flag
GDP PC 
$2,481CURRENT US$
Rnk 148 / 195
2013-2023
Flag
GDP PC GROWTH
73.1%CURRENT US$
Rnk 22 / 195
2023
Flag
GDP PC
$4,466CURRENT US$
Rnk 125 / 196
2013-2023
Flag
GDP PC GROWTH
-28.2%CURRENT US$
Rnk 186 / 195

About

India-Iran Trade: In 2023, India exported $1.19B to Iran. The main products that India exported to Iran were Rice ($734M), Soybean Meal ($96.8M), and Bananas ($52M). Over the past 5 years the exports of India to Iran have decreased at an annualized rate of 16.4%, from $2.9B in 2018 to $1.19B in 2023.

In 2023, India did not export any services to Iran.

Iran-India Trade: In 2023, Iran exported $1.02B to India. The main products that Iran exported to India were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($309M), Petroleum Gas ($126M), and Petroleum Coke ($118M). Over the past 5 years the exports of Iran to India have decreased at an annualized rate of 41.6%,  from $15B in 2018 to $1.02B in 2023.

In 2023, Iran did not export any services to India.

Comparison: In 2023,  India ranked 39 in the Economic Complexity Index (ECI 0.65), and 12 in total exports ($441B). That same year, Iran ranked 58 in the Economic Complexity Index (ECI 0.084), and 92 in total exports ($13.2B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, India exported $1.19B to Iran. The main products exported from India to Iran were Rice ($734M), Soybean Meal ($96.8M), and Bananas ($52M). During the last 5 years the exports of India to Iran have decreased at an annualized rate of 16.4%, from $2.9B in 2018 to $1.19B in 2023.

In 2018, Iran exported $1.02B to India. The main products exported from Iran to India were Acyclic alcohol derivatives (halogenated, sulphonated, nitrated) ($309M), Petroleum Gas ($126M), and Petroleum Coke ($118M). During the last 5 years the exports of Iran to India have decreased at an annualized rate of 41.6%, from $15B in 2023 to $1.02B in 2018.

Exports from India (Flag) to Iran (Flag) (2023)

Exports from Iran (Flag) to India (Flag) (2023)

Market Competitiveness

Color
India
Top Destination
United States$85.5B
Iran
Top Destination
China$4.59B

This map shows whether countries import more from India or Iran. Each country is colored based on the difference in imports they receive from India and Iran or the difference in the growth in imports.

In 2023, countries that imported more from India than Iran included United States ($85.5B), United Arab Emirates ($28.8B), and Germany ($15B).

In 2023, countries that imported more from Iran than India included Pakistan ($943M), Armenia ($597M), and Azerbaijan ($473M).

Difference in imports from Iran (Flag) and India (Flag) (2023)

Comparative Advantage India - Iran

Flow
Scale

This chart compares trade between India and Iran by product, considering products traded by both, India and Iran.

During 2023, India had a large net trade with Iran in the exports of Vegetable Products ($880M), Foodstuffs ($124M), and Chemical Products ($81.6M).

During 2018, Iran had a large net trade with India in the exports of Chemical Products ($451M), Mineral Products ($291M), and Vegetable Products ($200M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential India Iran+$47.7MRaw Sugar
Top Product Potential Iran India+$80.1MPetroleum Gas

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

Subscribe today to OEC pro and access the latest data

Sign Up

Subscribe today to OEC pro and access the latest data

Sign Up

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of India and Iran. This means that a dot/product with the flag of India indicates it has a comparative advantage over Iran. Similarly, a dot/product with the flag of Iran indicates it has a comparative advantage over India.

Product Space of India (Flag) and Iran (Flag) (2023)

Have questions, comments, or concerns?
Send us an e-mail: support@oec.world
Follow @OECtoday on
Created, Designed, and Developed by:
In collaboration with