Global InformationEconomy of Iran information
 | This article needs to be updated. (April 2023) |
 Tehran province hosts 45% of Iran's industries.[1] | |
| Currency | Iranian rial (IRR,﷼)[note 1] |
|---|---|
Fiscal year | March 21–20 |
Trade organizations | ECO, OPEC, GECF, WTO (observer), SCO, Brics and others |
Country group |
|
| Statistics | |
| Population |  87,590,873 (2023 est.)[4] |
| GDP |
|
| GDP rank |
|
GDP growth |
|
GDP per capita |
|
GDP per capita rank |
|
GDP by sector |
|
GDP by component |
|
Inflation (CPI) |  40% (2022)[8] |
Base borrowing rate | NA[7] |
Population below poverty line |
|
Gini coefficient |  38.8 medium (2018)[11] |
Human Development Index |
|
Labor force |
|
| Unemployment |
|
Average net salary |
|
| Gross savings | 41.758% of GDP (2022)[18] |
Main industries | petroleum, petrochemicals, fertilizers, caustic soda, car manufacture, parts, pharmaceuticals, home appliances, electronics, telecom, energy, power, textiles, construction, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and non-ferrous metal fabrication, armaments |
| External | |
| Exports |  $107.43 billion (2018)[19] |
Export goods | petroleum (56%),[19] chemical and petrochemical products, automobiles, fruits and nuts, carpets |
Main export partners |
|
| Imports | $54.46 billion (2018)[21] |
Import goods | industrial raw materials and intermediate goods (46%), capital goods (35%), foodstuffs and other consumer goods (19%), technical services |
Main import partners |
|
FDI stock |
|
Current account |
|
Gross external debt | $9.142 billion (December 2022)[23] |
| Public finances | |
Government debt |
|
Budget balance | +3% (of GDP) (2022 est.)[24] |
| Revenues | IRR 8,298,940 billion (2022)[18] |
| Expenses | IRR 12,487,173 billion (2022)[18] |
Credit rating |
|
Foreign reserves | $85.2 billion (December 31, 2020, est.)[24] |
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars. | |
Iran is a mixed economy with a large public sector. Some 60% of Iran's economy is centrally planned.[26][needs update]. Iran's economy is characterized by its hydrocarbon, agricultural, and service sectors, in addition to manufacturing and financial services,[27] with over 40 industries directly involved in the Tehran Stock Exchange. The stock exchange has been one of the best performing exchanges in the world over the past decade.[28] With 10% of the world's proven oil reserves and 15% of its gas reserves, Iran is considered an "energy superpower".[29][30][31][32][33]
A unique feature of Iran's economy is the presence of large religious foundations called bonyads, whose combined budgets represent more than 30 percent of central government spending.[34]
Price controls and subsidies, particularly on food and energy,[35][36] are heavily prominent in the economy. Contraband, administrative controls, widespread corruption,[37][38] and other restrictive factors undermine private sector-led growth.[39] The government's 20-year vision (as of 2020), involves market-based reforms reflected in the government's, with a five year development plan (FY 2016 to FY 2021) focusing on "a resilient economy" and "progress in science and technology".[40] Most of the country's exports are oil and gas, accounting for a majority of government revenue in 2010.[41] However in March 2022, the Iranian parliament under new president Ebrahim Raisi decided to eliminate a major subsidy for importing food, medicines and animal feed, valued at $15 billion in FY2021.[42] Also in March 2022, 20 billion tons of basic goods exports from Russia including vegetable oil, wheat, barley and corn were agreed.[42]
Iran's educated population, high human development, constrained economy and insufficient foreign and domestic investment prompted an increasing number of Iranians to seek overseas employment, resulting in a significant "brain drain".[39][43][44][45] However, in 2015, Iran and the P5+1 reached a deal on the nuclear program which removed most international sanctions. Consequently, for a short period, the tourism industry was significantly improved and the inflation of the country was decreased[citation needed] though US withdrawal from the JCPOA in 2018 hindered the growth of the economy again and increased inflation.[citation needed]
GDP contracted in 2018 and 2019, but a modest rebound was expected in 2020.[46] Challenges include a COVID-19 outbreak starting in February 2020 and US sanctions reimposed in mid-2018, increased unemployment due to the sanctions,[46] inflation,[40][46] a "chronically weak and undercapitalised" banking system,[46][47] and an "anemic" private sector.[46] Iran's currency (Iranian rial) has fallen,[48] and Iran has a relatively low rating in "Economic Freedom",[49][46] and "ease of doing business".[50]
- ^ Anthony H. Cordesman (September 23, 2008). "The US, Israel, the Arab States and a Nuclear Iran. Part One: Iranian Nuclear Programs" (PDF). Center for Strategic and International Studies. Archived from the original (PDF) on August 6, 2010. Retrieved September 25, 2010.
- ^ "World Economic Outlook Database, October 2022". IMF.org. International Monetary Fund. Retrieved November 6, 2022.
- ^ "Iran, Islamic Rep". World Bank. Retrieved September 16, 2022.
- ^ "Country Summary - Iran". cia.gov. CIA. Retrieved March 15, 2024.
- ^ a b c d "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved April 11, 2023.
- ^ a b c "WORLD ECONOMIC OUTLOOK 2022 OCT Countering the Cost-of-Living Crisis". www.imf.org. International Monetary Fund. p. 43. Retrieved October 11, 2022.
- ^ a b c d e Cite error: The named reference
CIAWFIRwas invoked but never defined (see the help page). - ^ "Iran - inflation rate 2027".
- ^ "Iخط فقر در ایران دامنهدارتر شده است". Deutsche Welle (in Persian).
- ^ "Poverty headcount ratio at $5.50 a day (2011 PPP) (% of population) - Iran, Islamic Rep". data.worldbank.org. World Bank. Retrieved November 3, 2019.
- ^ "Iran Gini-Koeffizient, 2017-2018 - knoema.com". Knoema (in German). Retrieved December 15, 2019.
- ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved December 11, 2019.
- ^ Nations, United. "Inequality-adjusted HDI (IHDI)". hdr.undp.org. UNDP. Retrieved May 22, 2020.
- ^ "Labor force, total – Iran, Islamic Rep". data.worldbank.org. World Bank. Retrieved November 3, 2019.
- ^ "Employment to population ratio, 15+, total (%) (national estimate) – Iran, Islamic Rep". data.worldbank.org. World Bank. Retrieved November 3, 2019.
- ^ "Iran Unemployment Rate". CEIC Data. Retrieved July 28, 2019.
- ^ a b چکیده نتایج طرح آمارگیری هزینه و درامد خانوارهای شهری و روستایی - ۱۳۹۲ (PDF) (in Persian). Statistical Center of Iran. July 13, 2014. Archived (PDF) from the original on December 4, 2014. Retrieved December 4, 2014.
- ^ a b c d e f g "Report for Selected Countries and Subjects: October 2022". imf.org. International Monetary Fund.
- ^ a b Cite error: The named reference
OPEC 2019was invoked but never defined (see the help page). - ^ "Foreign trade partners of Iran". The Observatory of Economic Complexity. Retrieved March 13, 2024.
- ^ "Iran Total Imports, 1979 - 2018". CEIC Data. Retrieved October 5, 2019.
- ^ "Foreign import trade partners of Iran". The Observatory of Economic Complexity. Retrieved March 13, 2024.
- ^ "External Debt | Economic Indicators | CEIC". www.ceicdata.com.
- ^ a b "Iran Foreign reserves". IMF. January 2000. Retrieved May 20, 2020.
- ^ Iles, Toby (March 5, 2014). Pat Thaker (ed.). "Iran: risk assessment". Economist Intelligence Unit. Retrieved March 28, 2014.
- ^ "A survey of Iran: Stunted and distorted". The Economist (2003)
- ^ "Overview". World Bank. Retrieved December 24, 2023.
- ^ Matthew Lynn: Are you brave enough to invest in Iran?. Wall Street Journal (Market Watch), March 26, 2014. Retrieved March 28, 2014.
- ^ Energy and the Iranian Economy. US Government Printing Office. July 25, 2006. ISBN 978-1-4223-2094-5. Retrieved June 11, 2014.
- ^ Cite error: The named reference
EIAwas invoked but never defined (see the help page). - ^ Balamir Coşkun, Bezen (Winter 2009). "Global Energy Geopolitics and Iran" (PDF). Uluslararası İlişkiler. 5 (20): 179–201. Archived from the original (PDF) on April 1, 2014.
- ^ Ramin Mostaghim, Alexandra Sandels and Patrick J. McDonnell: Iran businesses await a post-sanctions bonanza. Los Angeles Times, March 15, 2014. Retrieved March 28, 2014.
- ^ Jordan, Robert W. (July 16, 2015). "Iran Could Become an Economic Superpower". Time. Retrieved July 31, 2015.
- ^ Bonyad-e Mostazafan va Janbazan Oppressed and Disabled Veterans Foundation (MJF). Globalsecurity.org. Retrieved February 6, 2011.
- ^ "U.S. targets Iran's vulnerable oil". Los Angeles Times. 2007. Archived from the original on September 3, 2017. Retrieved July 17, 2007.
- ^ "Energy subsidies reach $84b". Iran Daily. April 27, 2008. Archived from the original on June 19, 2009.
- ^ Iran falls to 168 in Corruption Perception Index Archived November 22, 2009, at the Wayback Machine. Transparency International (2009). Retrieved November 19, 2009.
- ^ Country Report . Freedom House (2007). Retrieved October 29, 2009.
- ^ a b "World Factbook: Iran's entry". Central Intelligence Agency. 2008. Retrieved November 6, 2009.
This article incorporates text from this source, which is in the public domain.
- ^ a b "Islamic Republic of Iran. Overview". World Bank. May 1, 2020. Retrieved June 12, 2020.
- ^ "Iran threatens new war games in the oil lanes of the Gulf". The Telegraph. January 6, 2012. Archived from the original on January 12, 2022. Retrieved January 24, 2012.
- ^ a b "Iran Signs Deal With Russia To Import 20 Million Tons Of Basic Goods". Volant Media UK Limited. March 20, 2022.
- ^ Frances Harrison (January 8, 2007). "Huge cost of Iranian brain drain". BBC News.
- ^ Gheissari, Ali (2009). Contemporary Iran: Economy, Society, Politics. USA: Oxford University Press. pp. 3–4 (Paperback edition). ISBN 978-0-19-537849-8.
- ^ "Human Development Report 2014 – "Sustaining Human Progress: Reducing Vulnerabilities and Building Resilience"" (PDF). HDRO (Human Development Report Office) United Nations Development Programme. Retrieved August 8, 2014.
- ^ a b c d e f Cite error: The named reference
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