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India Iran Trade

India, Iran Sign 10-year Agreement for Trade Operations at Chabahar Port

India and Iran have signed a 10-year agreement on trade operations at Chabahar Port. The new long-term agreement is intended to replace the original contract, which only covers India’s operations at the Shahid Beheshti terminal and is renewed every year. The Chabahar Port agreement is crucial for India-Iran bilateral trade relationship. Meanwhile, the United States warned potential sanctions after finalization of this deal.
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Vietnam Export Data

Vietnam Ranks First in Global Cinnamon Exports

Vietnam’s exports of cinnamon were up by volume but down by value in 2023. According to Vietnam export data, the country shipped cinnamon worth USD 260 million, declined from USD 265 million recorded a year before. However, Vietnam exported 90,000 tons of cinnamon in 2023, up over 14% in volume. Vietnam is now the world’s biggest exporter of cinnamon. This blog shows Vietnam’s export market of cinnamon with valuable stats and analysis.
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Global Trade Data

How Does India & Oman Trade Ties Enhance Connectivity to Middle East?

India and Oman are working to finalise the trade deal to enhance the country’s economic ties. Once the trade deal is completed, businesses from both sides will get direct access to a wider market. The signing of the trade pact between India and Oman opened the door to connecting with the Middle East and Europe. This trade agreement will foster economic prosperity by introducing new products, reducing tariffs, and building a business-friendly environment.
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Indonesia Export Data

Indonesia Palm Oil Export Decline: A Global Concern for Business

Indonesia, the leading palm oil exporter, witnessed a drastic decline in export value from 2022 to 2023. The palm oil export value also declined in 2024, for instance, Indonesia exported $218 million of palm oil in Jan 2024, which was decreased by $19 million in March 2024. However, despite the downfall, Indonesia remained at the top of the list of palm oil exporters. This shows the world’s dependency on oil needs on Indonesia.
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India Trade

India’s Crude Oil Imports Drop 16% But Import Dependency Rise in FY24

India’s crude oil imports dropped about 15% in the fiscal year 2023-24 but the dependency on overseas suppliers increased to a new high. India was the world’s third largest crude oil importing country in 2020 and second-biggest importer of crude oil. India imported 232.5 million tonnes of crude oil in 2023-24, which is refined into fuels like petrol and diesel. However, it paid USD 157.1 billion for the imports in FY24 as against USD 207.1 billion bill in 2022-23.
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