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Iran Economy 2015
http://www.theodora.com/wfbcurrent/iran/iran_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 22, 2014

Economy - overview:
Iran's economy is marked by statist policies, an inefficient state sector, and reliance on oil, a major source of government revenues. Price controls, subsidies, and other distortions weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity is typically limited to small-scale workshops, farming, some manufacturing, and services. Significant informal market activity flourishes and corruption is widespread. New fiscal and monetary constraints on Tehran, following the expansion of international sanctions in 2012 against Iran's Central Bank and oil exports, significantly reduced Iran's oil revenue, forced government spending cuts, and fueled a 60% currency depreciation. Economic growth turned negative in 2012 and 2013, for the first time in two decades. Iran continues to suffer from double-digit unemployment and underemployment. Lack of job opportunities has convinced many educated Iranian youth to seek jobs overseas, resulting in a significant "brain drain." However, the election of President Hasan RUHANI in June 2013 brought about widespread expectations of economic improvements and greater international engagement among the Iranian public, and early in Ruhani's term the country saw a strengthened national currency and a historic boost to market values at the Tehran Stock Exchange.

GDP (purchasing power parity):
$987.1 billion (2013 est.)
country comparison to the world: 19

$1.002 trillion (2012 est.)
$1.021 trillion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$411.9 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-1.5% (2013 est.)
country comparison to the world: 208

-1.9% (2012 est.)
3% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$12,800 (2013 est.)
country comparison to the world: 103

$13,200 (2012 est.)
$13,600 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

Gross national saving:
30.3% of GDP (2013 est.)
country comparison to the world: 28

30.3% of GDP (2012 est.)
36.6% of GDP (2011 est.)
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 45.4%
government consumption: 14.1%
investment in fixed capital: 31.1%
investment in inventories: 1.2%
exports of goods and services: 20.8%
imports of goods and services: -12.7%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 10.6%
industry: 44.9%
services: 44.5% (2013 est.)

Agriculture - products:
wheat, rice, other grains, sugar beets, sugarcane, fruits, nuts, cotton; dairy products, wool; caviar

Industries:
petroleum, petrochemicals, fertilizers, caustic soda, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and non-ferrous metal fabrication, armaments

Industrial production growth rate:
-5.2% (2013 est.)
country comparison to the world: 191
[see also: Industrial production growth rate country ranks ]

Labor force:
27.72 million
country comparison to the world: 23
note: shortage of skilled labor (2013 est.)
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 16.9%
industry: 34.4%
services: 48.7% (2012 est.)

Unemployment rate:
16% (2013 est.)
country comparison to the world: 142

15.5% (2012 est.)
note: data are according to the Iranian Government
[see also: Unemployment rate country ranks ]

Population below poverty line:
18.7% (2007 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 29.6% (2005)

Distribution of family income - Gini index:
44.5 (2006)
country comparison to the world: 45
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $47.84 billion
expenditures: $66.38 billion (2013 est.)

Taxes and other revenues:
11.6% of GDP (2013 est.)
country comparison to the world: 205
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.5% of GDP (2013 est.)
country comparison to the world: 160
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
18.7% of GDP (2013 est.)
country comparison to the world: 137

18.6% of GDP (2012 est.)
note: includes publicly guaranteed debt
[see also: Public debt country ranks ]

Fiscal year:
21 March - 20 March

Inflation rate (consumer prices):
42.3% (2013 est.)
country comparison to the world: 221

30.5% (2012 est.)
note: official Iranian estimate
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA%
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
12% (2013 est.)
country comparison to the world: 74

11% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$26.3 billion (31 December 2013 est.)
country comparison to the world: 62

$42.91 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$65.02 billion (31 December 2013 est.)
country comparison to the world: 65

$104.6 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$42.32 billion (31 December 2013 est.)
country comparison to the world: 63

$77.74 billion (31 December 2012 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2013 est.)
country comparison to the world: 34

$140.8 billion (31 December 2012)
$107.2 billion (31 December 2011 est.)
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$8.659 billion (2013 est.)
country comparison to the world: 174

-$9.333 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$61.22 billion (2013 est.)
country comparison to the world: 53

$67.04 billion (2012 est.)
[see also: Exports country ranks ]

Exports - commodities:
petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets

Exports - partners:
China 22.1%, India 11.9%, Turkey 10.6%, South Korea 7.6%, Japan 7.1% (2012)

Imports:
$64.42 billion (2013 est.)
country comparison to the world: 46

$70.03 billion (2012 est.)
[see also: Imports country ranks ]

Imports - commodities:
industrial supplies, capital goods, foodstuffs and other consumer goods, technical services

Imports - partners:
UAE 33.2%, China 13.8%, Turkey 11.8%, South Korea 7.4% (2012)

Reserves of foreign exchange and gold:
$68.06 billion (31 December 2013 est.)
country comparison to the world: 32

$74.06 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$15.64 billion (2013 est.)
country comparison to the world: 87

$17.25 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$41.45 billion (31 December 2013 est.)
country comparison to the world: 56

$37.31 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$3.645 billion (31 December 2013 est.)
country comparison to the world: 65

$3.345 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Iranian rials (IRR) per US dollar -

18,517.2 (2013 est.)
12,175.5 (2012 est.)
10,254.18 (2010 est.)
9,864.3 (2009)
9,142.8 (2008)
note: Iran devalued its currency in July 2013


NOTE: The information regarding Iran on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Iran Economy 2015 information contained here. All suggestions for corrections of any errors about Iran Economy 2015 should be addressed to the CIA.



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