New Trade Corridor Tests In Iran For Exporting Russian Goods To India
20 June 2022
Iran has started to ship the Russian goods from its
port to Indian regions following the sanctions. The sanctions imposed on Russia
over its invasion of Ukraine have influenced the method taking place. Exporting
to India is done through the Iranian ports – Port of Anzali in northern Iran,
following the transfer of cargo(es) to Bandar Abbas Port on the Persian Gulf in
southern Iran. International trade statistics 2022 reveals what Russia has
imported so far to India.
India Top
Importing Countries (2022)
Russia is the seventh-largest exporting country for
India in 2022 so far. Russia has exported about a total worth of goods of
$600.49 billion. The top importing countries for India are—China (16%),
followed by Saudi Arabia (7.6%), Iraq (6.9%), the USA and UAE (6.4%) along with
others.
India Top Importing
Countries (Jan-May'22) |
|
Country |
Value USD % |
China |
16.08 |
Saudi Arabia |
7.62 |
Iraq |
6.9 |
United States of America |
6.47 |
United Arab Emirates |
6.43 |
Indonesia |
3.79 |
Russia |
3.28 |
Australia |
3.04 |
South Korea |
2.95 |
Malaysia |
2.4 |
Russia
Quarterly Exports To India
The below shown Russia export data shows the quarterly
trend for the imports India made from Russia. The time range spans from the
first quarter of 2021 to the first quarter of 2022. Following the third
quarter, the values increased and reached $189.5 billion in Q1-2022.
This shows a tremendous increase from the first
quarter of 2021, highlighting a 39.3% increase in the first quarter of 2022.
This shows that imports in India from Russia have continued to grow.
Russia Exports To
India – Quarterly Trend |
|
Quarter |
Value USD Billion |
Q1-2021 |
136.04 |
Q2-2021 |
129.78 |
Q3-2021 |
153.29 |
Q4-2021 |
181.36 |
Q1-2022 |
189.50 |
Russia Exports
To India In 2022
Russia export data 2022 shown below gives insight into
the latest trade trend for Russia-India bilateral trade. The imports in India
from Russia amounted to $59.7 billion in January 2022. Following the month of
February, the imports grew till April, and have declined in May so far.
Russia Exports To
India (Jan-May'22) |
|
Month |
Value USD Billion |
January |
59.72 |
February |
62.99 |
March |
66.78 |
April |
72.16 |
May |
68.93 |
Top Imports
From Russia (2022)
Russia is the largest exporter to India for a number
of commodities. The evaluation of commodities on the basis of a 4-digit level
HS Code Classification (Heading) shows the below featured products imported in
India so far from Russia.
Crude oil is the largest imported commodity so far in
India from Russia for 2022 with a total import value of $3,480 million.
Commodities followed by crude oil are coal, diamonds, fertilizers, refined
petroleum, sunflower seed & oil, nitrogenous fertilizers, machinery, aircraft,
and soybean oil.
India Top Imports
From Russia (Jan-May'22) |
|
Commodity |
Value USD Million |
Crude Oil |
3,480.07 |
Coal |
1,347.67 |
Diamonds |
1,050.23 |
Mineral/Chemical Fertilizers |
724.08 |
Refined Petroleum Oil |
661.36 |
Sunflower Seed & Oil |
649.46 |
Mineral or Chemical Nitrogenous
Fertilizers |
368.85 |
Prime Movers, Control Gear, etc. |
243.21 |
Powered Aircraft (Helicopters,
Spacecraft, etc.) |
239.92 |
Soybean Oil |
120.37 |
Iran is assisting in trading the commodities from
Russia to India through its ports. According to the news reports, Iranian
officials are planning to manufacture a straight railway network. The new
railway line allows the transfer of incoming goods at the Iranian Caspian Sea’s
ports to Iran’s southeastern port of Chabahar.