Iran is the second largest economy in the Middle East and North Africa, also known as MENA region. It also has the second largest population of this region.
Iran's economy is based on the energy sector including oil and gas resources, petrochemical, polymers, and oil Products, agricultural industries and products, steel industries, and mineral industry.
Iran is the world's second natural gas reservoir and the fourth crude oil resource owner.
After years of economic sanctions, and with the agreement on the Iranian nuclear program in Vienna on July 14 2015, the government is now for expanding its economic cooperation with other countries.
Iran's marketplace is attractive in many aspects as it has the 2nd population rate in the region (over 79.92 million). It's also young, emerging, developing and etc. As an emerging market, it's full of opportunities for doing, managing, and running business of any sort.
Open Trade Market
Trade is very important to Iran’s economy; the value of exports and imports taken together equals half of GDP including tariff rate of 15.5%.
State-owned commercial banks and the specialized financial institutions account for a majority of banking-sector assets.
Main Exports: Petroleum, Handicrafts, Carpet, Fruits, Dried fruits (pistachio, raisin, date and etc.), Caviar, Petrochemical Productions, Textiles, Garment, and Foods industrial productions.
Main Imports: Machinery, Metal works, Foodstuffs, Pharmaceutical, Technical services, and Chemical products.
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, and Armaments.
Agriculture: Wheat, Rice, Grains, Sugar, Beets, Fruits, Nuts, Cotton, Dairy products, Wool, Caviar.
Currency: Iranian Rial - Each 10 Rial is known as 1 Toman.
1 USD approximately worth 38000 Rial (May 2017)
Currency Code: IRR
Gross Domestic Productivity (GDP) estimated in 2017: 1535 Billion (PPP)
GDP growth Increase 4.8% (2018f),
Increase 5.2% (2017f)
Increase 4.5% (2016),
Decrease 0.4% (2015),
GDP per capita $19,050 (2017, PPP), $5,383 (2017, Nominal)
GDP per capita rank 96th (nominal); 68th (PPP)
GDP by sector
GDP by component
Household consumption: 50.8%
Government consumption: 10%
Investment in fixed capital: 27.1%
Investment in inventories: 6.1%
Exports of goods and services: 23.2%
Imports of goods and services: -17.2% (2016 est.)
Inflation (CPI) 6.8% (2016)
Negative increase 13.7% (2015)
Base borrowing rate 14.2% (31 December 2015 est.)
GDP purchasing power parity: USD 852.6 billion
GDP official exchange rate: USD 278.1 billion
GDP real growth rate: 4.3%
GDP per capita (PPP): USD 12,300
GDP composition by sector: agriculture: 11% - industry: 45.3% - services: 43.7%
Labor force: over 30 million
Investment (gross fixed): 20% of GDP
Budget: USD 64 billion (revenues = expenditures)
Exports worth: USD 76.5 billion FOB
Imports worth: USD 61.3 billion FOB
Most Trade Partners: Germany +10%, China +10%, UAE -10%, France +5%, Italy +5%, South Korea +5%, Russia -5%, Turkey, Spain, India, Pakistan
Fiscal year: 21 March - 20 March
Iran had 178,152 km (110,811 mi) of streets in 2002, of which 118,115 km (73,468 mi) were cleared, including 751 km (467 mi) of roads. A1, a noteworthy cleared interstate, keeps running from Bazargan on the Turkish fringe to the outskirt with Afghanistan. Another significant expressway, A2, keeps running from the Iraqi outskirt to the Pakistani fringe. A significant part of the progressive government's street building action focused on enhancing streets in rustic territories. In 2003 there were more than 2,578,850 traveler autos and 666,550 business vehicles.
Iran had an expected 305 airplane terminals in 2004, 129 of which had cleared runways starting at 2005; there were 15 heliports. Chief airplane terminals incorporate Bandar-e 'Abbās, Mehrabad Worldwide at Tehrān, and Shirāz Universal at Shirāz. The state-possessed Iran Air keeps up visit administration to 15 urban communities in Iran and is a global transporter. In 2003, around 9.554 million travelers were carried on planned local and worldwide flights.
Railways: over 8,500 km (March 2008)
Highways: over 180,000 km (March 2008)
Pipelines: Crude oil 5,900 km, petroleum products 3900 km, natural Gas 4,550 km
Ports: Abadan, Ahwaz, Bandar shahid Beheshti, Bandar Abbas, Bandar Anzali, Bandar Mahshahr, Bandar Bushehr, Bandar Khomeini, Bandar Turkmen, Khorramshahr, Nowshahr, Assalouyeh
Airports: 331 (International and Domestic) 2007
Telephones - main lines in use: over 25 million (2007)
Telephones - mobile cellular: over 15 million (2007)
Operators: MCI, MTN - Irancell, Taliya (2008)
Internet users: over 18 million (2007)
Iran is the 60th biggest fare economy on the planet. In 2015, Iran sent out $31.8B and imported $43.9B, bringing about a negative exchange adjust of $12.2B. The best fares of Iran are Crude Petroleum ($18.3B), Ethylene Polymers ($2.4B), Acyclic Alcohols ($1.27B), Other Nuts ($830M) and Peat ($694M), utilizing the 1992 update of the HS (Harmonized System) arrangement. Its best imports are Cars ($1.47B), Corn ($936M), Vehicle Parts ($932M), Jewelry ($885M) and Flat-Rolled Steel ($860M).The top fare goals of Iran are China ($14.5B), India ($5.66B), Japan ($2.89B), South Korea ($2.11B) and Turkey ($1.3B). The best import starting points are China ($17.8B), South Korea ($3.76B), Turkey ($3.62B), India ($3.13B) and Germany ($2.19B).
Increase $87.52 billion (2016 est)
Increase $78.99 billion (2015 est.)
Imports in Iran diminished to 16283 USD Million in the second quarter of 2017 from 63135 USD Million in the primary quarter of 2017. Imports in Iran arrived at the midpoint of 22021.13 USD Million from 1974 until 2017, achieving a record-breaking high of 75458 USD Million in the final quarter of 2010 and a record low of 4788 USD Million in the final quarter of 1974. Iran primary imports are: non-electrical hardware (17 percent of aggregate imports), iron and steel (14 percent), chemicals and related items (11 percent), transport vehicles (9 percent) and electrical apparatus, instruments and machines (7 percent). Fundamental import accomplices are: United Arab Emirates (31 percent of aggregate imports) and China (17 percent). Others include: South Korea, Turkey and Germany. This page gives - Iran Imports - genuine esteems, verifiable information, conjecture, outline, insights, monetary timetable and news. Iran Imports - genuine information, chronicled graph and logbook of discharges - was keep going refreshed on October of 2017.