The allocation and management of oil revenues are among the government’s main priorities.After a 4.7% contraction of GDP in 2018/19, GDP declined further by 7.6% (yoy) in the first nine months of 2019/20 due to the contraction of the oil sector and weak domestic demand.
Read the Article We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.We face big challenges to help the world’s poorest people and ensure that everyone sees benefits from economic growth. We provide English translations of this data in individual Excel spreadsheets. International Monetary Fund, for instance, predicted Iran’s economic growth for the coming year to be 5.9% and assessed the Islamic Republic’s economy to be at the bottom of the chart for global economic growth. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus).
The current account surplus increased to US$26 billion in 2018/19, as the fall in imports outpaced the decline in exports. The second issue (Fall 2016) included a special section on poverty and air pollution. The Iranian authorities have adopted a comprehensive strategy encompassing the market-based reforms reflected in the government’s 20-year vision and its sixth development plan for the full five-year period from 2016/17 to 2021/22. By October 2019, Iran's crude oil production had fallen to 2.1 million bpd on average, according to Opec's data. Iran had an estimated Gross Domestic Product (GDP) in 2017 of US$447.7 billion, and a population of 80.6 million people. With a population of 82.8 million people, Iran’s economy is characterized by the hydrocarbon, agriculture, and services sectors, as well as a noticeable state presence in manufacturing and financial services. The need for greater transparency comes as the MENA region faces unprecedented dual shocks from the COVID-19 (Coronavirus) pandemic and the collapse in oil prices. Iran ranks second in the world in natural gas reserves and fourth in proven crude oil reserves.
- … On the economic front, the development plan envisages an annual economic growth rate of 8% and the reform of state-owned enterprises and the financial and banking sectors. However, poverty has moderately increased since 2013, which may be associated with declining social assistance in real terms due to inflation.
Annual percentage growth rate of GDP at market prices based on constant local currency. Real imports contracted sharply by 38.3% due to restrictions on the import of non-essential goods aimed at controlling the pressure on foreign exchange reserves. © 2020 – Syracuse University. In Reopening Its Economy, Iran’s Regime Relies on Disinformation, Disregard for Human Life.
Find out what the Bank Group's branches are doing in the region. Youth (15-24 years) unemployment, while declining to 25.8% in the December quarter 2019, remains high compared to the regional average. Economic History of Iran (Several articles, covering from the pre-Achaemenid period to the modern era) - Encyclopedia Iranica; Iran's Foreign Trade Regime (Many historical data and statistics about Iran's economy) - Ministry of Commerce (Iran) History of Banking in Iran; Iran's Third Development Plan: an Appraisal by Dr. Jahangir Amuzegar
The third issue (Spring 2017) covered pensions and water resource management and the fourth issue (Fall 2017) included a special focus on labor markets and employment.
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