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, tomatoes, barley, potatoes, vegetables, oranges, chicken (2022).
More about the economy of Iran
| Labor force | 29.159 million (2023 est.) |
|---|---|
| Industrial production growth rate | 8.84% (2023 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 | 17.3% (of GDP) (2017 est.) |
| 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 31 December 2017 | $7.995 billion (31 December 2017 est.) |
| Debt - external 31 December 2016 | $8.196 billion (31 December 2016 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 31 December 2017 | $120.6 billion (31 December 2017 est.) |
| Reserves of foreign exchange and gold 31 December 2016 | $133.7 billion (31 December 2016 est.) |
| Current account balance | |
| Current account balance 2017 | $9.491 billion (2017 est.) |
| Current account balance 2016 | $16.28 billion (2016 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 2020 | 0.55% of GDP (2020 est.) |
| Remittances 2019 | 0.47% of GDP (2019 est.) |
| Remittances 2018 | 0.4% of GDP (2018 est.) |
| Household income | |
| Lowest 10% | 2.8% (2022 est.) |
| Highest 10% | 26.8% (2022 est.) |
| Average household expenditures | |
| On food | 28.7% of household expenditures (2021 est.) |
| On alcohol and tobacco | 0.5% of household expenditures (2021 est.) |
| Imports | |
| Imports 2022 | $102.47 billion (2022 est.) |
| Imports 2021 | $77.33 billion (2021 est.) |
| Imports 2020 | $58.461 billion (2020 est.) |
| Imports (partners) | China 28%, UAE 19%, Brazil 13%, Turkey 9%, India 6% (2022) |
| Comodities Imports force | broadcasting equipment, corn, soybeans, vehicle parts/accessories, rice (2022) |
| Exports | |
| Imports 2022 | $102.47 billion (2022 est.) |
| Imports 2021 | $77.33 billion (2021 est.) |
| Imports 2020 | $58.461 billion (2020 est.) |
| Exports (partners) | China 36%, Turkey 20%, Kuwait 6%, Pakistan 5%, India 4% (2022) |
| Comodities Exports force | ethylene polymers, refined copper, acyclic alcohols, aluminum, natural gas (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $1.44 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.373 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $1.323 trillion (2021 est.) |
| GDP (official exchange rate) | $401.505 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $16,200 (2023 est.) |
| Real GDP per capita 2022 | $15,500 (2022 est.) |
| Real GDP per capita 2021 | $15,000 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 9.6% (2016 est.) |
| Industry | 35.3% (2016 est.) |
| Services | 55% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 49.7% (2017 est.) |
| Government consumption | 14% (2017 est.) |
| Investment in fixed capital | 20.6% (2017 est.) |
| Investment in inventories | 14.5% (2017 est.) |
| Exports of goods and services | 26% (2017 est.) |
| Imports of goods and services | -24.9% (2017 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 9.1% (2023 est.) |
| Unemployment rate 2022 | 9.09% (2022 est.) |
| Unemployment rate 2021 | 9.28% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 22.8% (2023 est.) |
| Male | 20% (2023 est.) |
| Female | 35.5% (2023 est.) |
All Important Facts about Iran
Want to know more about Iran? Check all different factbooks for Iran below.
