New Trade Corridor Tests In Iran For Exporting Russian Goods To India

20 June 2022
Russia Trade Data

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.

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