Iran - Economy
How is the economy of Iran? Based on the information we have, Iran has a traditionally state-controlled economy but reforming state-owned financial entities; strong oil/gas, agricultural, and service sectors; recent massive inflation due to exchange rate depreciation, international sanctions, and investor uncertainty; increasing poverty. Key agricultural products in this country include: wheat, sugarcane, milk, sugar beets, rice, tomatoes, barley, potatoes, oranges, apples (2023).
More about the economy of Iran
| Labor force | 28.575 million (2024 est.) |
|---|---|
| Industrial production growth rate | 2.8% (2024 est.) |
| Industries | petroleum, petrochemicals, gas, fertilizer, caustic soda, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and nonferrous metal fabrication, armaments |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Iranian rials (IRR) per US dollar - |
| Exchange rates 2023 | 42,000 (2023 est.) |
| Exchange rates 2022 | 42,000 (2022 est.) |
| Exchange rates 2021 | 42,000 (2021 est.) |
| Exchange rates 2020 | 42,000 (2020 est.) |
| Exchange rates 2019 | 42,000 (2019 est.) |
| Debt - external | |
| Debt - external 2023 | $6.759 billion (2023 est.) |
| Public debt | |
| Public debt 2017 | 39.5% of GDP (2017 est.) |
| Budget | |
| Revenues | $60.714 billion (2019 est.) |
| Expenditures | $90.238 billion (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0% of GDP (2023 est.) |
| Remittances 2022 | 0% of GDP (2022 est.) |
| Remittances 2021 | 0% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 2.8% (2023 est.) |
| Highest 10% | 28.2% (2023 est.) |
| Average household expenditures | |
| On food | 27.9% of household expenditures (2023 est.) |
| On alcohol and tobacco | 0.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $117.176 billion (2024 est.) |
| Imports 2023 | $113.21 billion (2023 est.) |
| Imports 2022 | $97.729 billion (2022 est.) |
| Imports (partners) | China 34%, UAE 20%, Turkey 11%, Brazil 8%, Germany 4% (2023) |
| Comodities Imports force | broadcasting equipment, vehicle parts/accessories, corn, soybeans, vehicle bodies (2023) |
| Exports | |
| Imports 2024 | $117.176 billion (2024 est.) |
| Imports 2023 | $113.21 billion (2023 est.) |
| Imports 2022 | $97.729 billion (2022 est.) |
| Exports (partners) | China 35%, Turkey 16%, India 8%, Pakistan 7%, Armenia 5% (2023) |
| Comodities Exports force | plastics, iron ore, alcohols, natural gas, refined copper (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $1.486 trillion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $1.442 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.373 trillion (2022 est.) |
| GDP (official exchange rate) | $436.906 billion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $16,200 (2024 est.) |
| Real GDP per capita 2023 | $15,900 (2023 est.) |
| Real GDP per capita 2022 | $15,300 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 13% (2024 est.) |
| Industry | 36.4% (2024 est.) |
| Services | 47.9% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 50.5% (2024 est.) |
| Government consumption | 12.9% (2024 est.) |
| Investment in fixed capital | 26.7% (2024 est.) |
| Investment in inventories | 13.3% (2024 est.) |
| Exports of goods and services | 22.9% (2024 est.) |
| Imports of goods and services | -26.8% (2024 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 9.2% (2024 est.) |
| Unemployment rate 2023 | 9.1% (2023 est.) |
| Unemployment rate 2022 | 9.1% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 22.8% (2024 est.) |
| Male | 20% (2024 est.) |
| Female | 35.5% (2024 est.) |
All Important Facts about Iran
Want to know more about Iran? Check all different factbooks for Iran below.
