Economy - overview:
Iran's economy is marked by an inefficient state sector, reliance on the oil sector, which provides the majority of government revenues, and statist policies, which create major distortions throughout the system. Private sector activity is typically limited to small-scale workshops, farming, and services. Price controls, subsidies, and other rigidities weigh down the economy, undermining the potential for private-sector-led growth. Significant informal market activity flourishes. The legislature in late 2009 passed President Mahmud AHMADI-NEJAD's bill to reduce subsidies, particularly on food and energy. The bill would phase out subsidies - which benefit Iran's upper and middle classes the most - over three to five years and replace them with cash payments to Iran's lower classes. However, the start of the program was delayed repeatedly throughout 2010 over fears of public reaction to higher prices. This is the most extensive economic reform since the government implemented gasoline rationing in 2007. The recovery of world oil prices in the last year increased Iran's oil export revenue by at least $10 billion over 2009, easing some of the financial impact of the newest round of international sanctions. Although inflation has fallen substantially since the mid-2000s, Iran continues to suffer from double-digit unemployment and underemployment. Underemployment among Iran's educated youth has convinced many to seek jobs overseas, resulting in a significant "brain drain."
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Iran on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Iran Economy 2011 information contained here. All suggestions for corrections of any errors about Iran Economy 2011 should be addressed to the CIA.
$863.5 billion (2010 est.)
country comparison to the world: 19
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$337.9 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
3% (2010 est.)
country comparison to the world: 122
[see also: GDP - real growth rate country ranks ]
$11,200 (2010 est.)
country comparison to the world: 100
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 11%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
45.9%
[see also: GDP - composition by sector - industry country ranks ]
services:
43.1% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
25.7 million
country comparison to the world: 22
note:
shortage of skilled labor (2009 est.)
[see also: Labor force country ranks ]
agriculture: 25%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
31%
[see also: Labor force - by occupation - industry country ranks ]
services:
45% (June 2007)
[see also: Labor force - by occupation - services country ranks ]
14.6% (2010 est.)
country comparison to the world: 146
note:
data are according to the Iranian Government
[see also: Unemployment rate country ranks ]
18% (2007 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
29.6% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
44.5 (2006)
country comparison to the world: 45
[see also: Distribution of family income - Gini index country ranks ]
27.6% of GDP (2009 est.)
country comparison to the world: 28
[see also: Investment (gross fixed) country ranks ]
revenues: $105.7 billion
[see also: Budget - revenues country ranks ]
expenditures:
$98.83 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
16.2% of GDP (2010 est.)
country comparison to the world: 117
[see also: Public debt country ranks ]
11.8% (2010 est.)
country comparison to the world: 207
note:
official Iranian estimate
[see also: Inflation rate (consumer prices) country ranks ]
NA% (31 December 2009)
[see also: Central bank discount rate country ranks ]
12% (31 December 2009 est.)
country comparison to the world: 75
[see also: Commercial bank prime lending rate country ranks ]
$50.37 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$167.4 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$132.2 billion (31 December 2010 est.)
country comparison to the world: 43
[see also: Stock of domestic credit country ranks ]
$63.3 billion (31 December 2009)
country comparison to the world: 52
[see also: Market value of publicly traded shares country ranks ]
wheat, rice, other grains, sugar beets, sugar cane, fruits, nuts, cotton; dairy products, wool; caviar
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
4.3% excluding oil (2009 est.)
country comparison to the world: 78
[see also: Industrial production growth rate country ranks ]
212.8 billion kWh (2007 est.)
country comparison to the world: 19
[see also: Electricity - production country ranks ]
206.7 billion kWh (2007 est.)
country comparison to the world: 18
[see also: Electricity - consumption country ranks ]
6.15 billion kWh (2007 est.)
[see also: Electricity - exports country ranks ]
2.06 billion kWh (2007 est.)
[see also: Electricity - imports country ranks ]
4.172 million bbl/day (2009 est.)
country comparison to the world: 4
[see also: Oil - production country ranks ]
1.7 million bbl/day (2009 est.)
country comparison to the world: 14
[see also: Oil - consumption country ranks ]
2.21 million bbl/day (2009 est.)
country comparison to the world: 6
[see also: Oil - exports country ranks ]
162,500 bbl/day (2009 est.)
country comparison to the world: 54
[see also: Oil - imports country ranks ]
137.6 billion bbl based on Iranian claims
country comparison to the world: 3
note:
Iran has about 10% of world reserves (1 January 2010 est.)
[see also: Oil - proved reserves country ranks ]
200 billion cu m (2008 est.)
country comparison to the world: 3
[see also: Natural gas - production country ranks ]
140 billion cu m
country comparison to the world: 4
note:
excludes injection and flaring (2008 est.)
[see also: Natural gas - consumption country ranks ]
4.246 billion cu m (2008 est.)
country comparison to the world: 28
[see also: Natural gas - exports country ranks ]
5.2 billion cu m (2008 est.)
country comparison to the world: 31
[see also: Natural gas - imports country ranks ]
29.61 trillion cu m (1 January 2010 est.)
country comparison to the world: 2
[see also: Natural gas - proved reserves country ranks ]
$9.76 billion (2010 est.)
country comparison to the world: 23
[see also: Current account balance country ranks ]
$78.69 billion (2010 est.)
country comparison to the world: 37
[see also: Exports country ranks ]
petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets
China 16.58%, Japan 11.9%, India 10.54%, South Korea 7.54%, Turkey 4.36% (2009)
$58.97 billion (2010 est.)
country comparison to the world: 43
[see also: Imports country ranks ]
industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services
UAE 15.14%, China 13.48%, Germany 9.66%, South Korea 7.16%, Italy 5.27%, Russia 4.81%, India 4.12% (2009)
$75.06 billion (31 December 2010 est.)
country comparison to the world: 18
[see also: Reserves of foreign exchange and gold country ranks ]
$12.84 billion (31 December 2010 est.)
country comparison to the world: 83
[see also: Debt - external country ranks ]
$16.82 billion (31 December 2010 est.)
country comparison to the world: 72
[see also: Stock of direct foreign investment - at home country ranks ]
$2.075 billion (31 December 2010 est.)
country comparison to the world: 67
[see also: Stock of direct foreign investment - abroad country ranks ]
Iranian rials (IRR) per US dollar - 10,308.2 (2010), 9,864.3 (2009), 9,142.8 (2008), 9,407.5 (2007), 9,227.1 (2006)
This page was last modified 09-Feb-11