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World > Middle East > Iran > Economy (Facts)

Iran - Economy (Facts)
Economy - overview: Iran's economy is marked by a bloated, inefficient state sector, over reliance on the oil sector, and statist policies that create major distortions throughout. Most economic activity is controlled by the state. Private sector activity is typically small-scale workshops, farming, and services. President Mahmud AHMADI-NEJAD has continued to follow the market reform plans of former President RAFSANJANI, with limited progress. Relatively high oil prices in recent years have enabled Iran to amass nearly $60 billion in foreign exchange reserves, but have not eased economic hardships such as high unemployment and inflation. The proportion of the economy devoted to the development of weapons of mass destruction remains a contentious issue with leading Western nations.
GDP - real growth rate: 4.3% (2006 est.)
GDP (purchasing power parity): $599.2 billion (2006 est.)
GDP (official exchange rate): $193.5 billion (2006 est.)
GDP - per capita (PPP): $8,700 (2006 est.)
GDP - composition by sector: agriculture: 11.2%
industry: 41.7%
services: 47.1% (2006 est.)
Population below poverty line: 40% (2002 est.)
Household income or consumption by percentage share: lowest 10%: NA
highest 10%: NA
Inflation rate (consumer prices): 15.8% (2006 est.)
Labor force: 24.36 million
note: shortage of skilled labor (2006 est.)
Labor force - by occupation: agriculture: 30%
industry: 25%
services: 45% (2001 est.)
Unemployment rate: 15% according to the Iranian government (2007 est.)
Budget: revenues: $104.6 billion
expenditures: $100.6 billion; including capital expenditures of $7.6 billion (2006 est.)
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: 3.2% excluding oil (2006 est.)
Electricity - production: 155.7 billion kWh (2004)
Electricity - consumption: 145.1 billion kWh (2004)
Electricity - exports: 1.837 billion kWh (2004)
Electricity - imports: 2.17 billion kWh (2004)
Oil - production: 3.979 million bbl/day (2005 est.)
Oil - consumption: 1.51 million bbl/day (2004 est.)
Oil - exports: 2.836 million bbl/day (2004 est.)
Oil - imports: NA bbl/day
Oil - proved reserves: 132.5 billion bbl based on Iranian claims (2006 est.)
Natural gas - production: 83.9 billion cu m (2004 est.)
Natural gas - exports: 3.56 billion cu m (2004 est.)
Natural gas - imports: 5.2 billion cu m (2004 est.)
Agriculture - products: wheat, rice, other grains, sugar beets, fruits, nuts, cotton; dairy products, wool; caviar
Exports: $63.18 billion f.o.b. (2006 est.)
Exports - commodities: petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets
Exports - partners: Japan 14.1%, China 12.9%, Turkey 7.3%, Italy 6.3%, South Korea 5.7%, Netherlands 4.6%, Taiwan 4% (2006)
Imports: $45.48 billion f.o.b. (2006 est.)
Imports - commodities: industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services, military supplies
Imports - partners: Germany 12.1%, China 10.6%, UAE 9.4%, South Korea 6.2%, France 5.6%, Italy 5.4%, Russia 4.5% (2006)
Debt - external: $14.8 billion (2006 est.)
Economic aid - recipient: $408 million (2002 est.)
Currency: Iranian Rial (IRR)
Currency code: IRR
Exchange rates: rials per US dollar - 9,227.1 (2006), 8,964 (2005), 8,614 (2004), 8,193.9 (2003), 6,907 (2002)
note: Iran has been using a managed floating exchange rate regime since unifying multiple exchange rates in March 2002
Fiscal year: 21 March - 20 March


Facts at a Glance: Geography - People - Government - Economy - Communications - Transportation - Military - Climate - Current Time - Ranking Positions
Notes and Commentary: People - Economy - Government and Political Conditions - Historical Highlights - Foreign Relations - Relations with U.S.



Facts at a Glance
Geography
People
Government
Economy
Communications
Transportation
Military
Climate
Current Time
Ranking Positions


Notes and Commentary
People
Economy
Government and Political Conditions
Historical Highlights
Foreign Relations
Relations with U.S.





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