Economy - overview:
Iran's economy is marked by statist policies, inefficiencies, and reliance on oil and gas exports, but Iran also possesses significant agricultural, industrial, and service sectors. The Iranian government directly owns and operates hundreds of state-owned enterprises and indirectly controls many companies affiliated with the country's security forces. Distortions - including corruption, price controls, subsidies, and a banking system holding billions of dollars of non-performing loans - weigh down the economy, undermining the potential for private-sector-led growth.

Private sector activity includes small-scale workshops, farming, some manufacturing, and services, in addition to medium-scale construction, cement production, mining, and metalworking. Significant informal market activity flourishes and corruption is widespread.

The lifting of most nuclear-related sanctions under the Joint Comprehensive Plan of Action (JCPOA) in January 2016 sparked a restoration of Iran’s oil production and revenue that drove rapid GDP growth, but economic growth declined in 2017 as oil production plateaued. The economy continues to suffer from low levels of investment and declines in productivity since before the JCPOA, and from high levels of unemployment, especially among women and college-educated Iranian youth.

In May 2017, the re-election of President Hasan RUHANI generated widespread public expectations that the economic benefits of the JCPOA would expand and reach all levels of society. RUHANI will need to implement structural reforms that strengthen the banking sector and improve Iran’s business climate to attract foreign investment and encourage the growth of the private sector. Sanctions that are not related to Iran’s nuclear program remain in effect, and these—plus fears over the possible re-imposition of nuclear-related sanctions—will continue to deter foreign investors from engaging with Iran.

GDP (purchasing power parity):
$1.64 trillion (2017 est.)
$1.581 trillion (2016 est.)
$1.405 trillion (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 18
[see also: GDP country ranks ]

GDP (official exchange rate):
$430.7 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.7% (2017 est.)
12.5% (2016 est.)
-1.6% (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 89
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$20,100 (2017 est.)
$19,600 (2016 est.)
$17,700 (2015 est.)
note: data are in 2017 dollars
country comparison to the world (CIA rank, may be based on non-current data): 89
[see also: GDP - per capita country ranks ]

Gross national saving:
37.9% of GDP (2017 est.)
37.6% of GDP (2016 est.)
35.2% of GDP (2015 est.)
country comparison to the world (CIA rank, may be based on non-current data): 12
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 49.7% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 14% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 20.6% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 14.5% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 26% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -24.9% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 9.6% (2016 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 35.3% (2016 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 55% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
wheat, rice, other grains, sugar beets, sugarcane, fruits, nuts, cotton; dairy products, wool; caviar

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

Industrial production growth rate:
3% (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 103
[see also: Industrial production growth rate country ranks ]

Labor force:
30.5 million (2017 est.)
note: shortage of skilled labor
country comparison to the world (CIA rank, may be based on non-current data): 21
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 16.3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 35.1%
[see also: Labor force - by occupation - industry country ranks ]
services: 48.6% (2013 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
11.8% (2017 est.)
12.4% (2016 est.)
note: data are Iranian Government numbers
country comparison to the world (CIA rank, may be based on non-current data): 157
[see also: Unemployment rate country ranks ]

Population below poverty line:
18.7% (2007 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
44.5 (2006)
country comparison to the world (CIA rank, may be based on non-current data): 43
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: 74.4 billion (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 84.45 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
17.3% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 170
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-2.3% (of GDP) (2017 est.)
country comparison to the world (CIA rank, may be based on non-current data): 110
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
39.5% of GDP (2017 est.)
47.5% of GDP (2016 est.)
note: includes publicly guaranteed debt
country comparison to the world (CIA rank, may be based on non-current data): 132
[see also: Public debt country ranks ]

Fiscal year:
21 March - 20 March

Inflation rate (consumer prices):
9.6% (2017 est.)
9.1% (2016 est.)
note: official Iranian estimate
country comparison to the world (CIA rank, may be based on non-current data): 202
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
NA
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
18% (31 December 2017 est.)
18% (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 21
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$48.08 billion (31 December 2017 est.)
$47.59 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 54
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$48.08 billion (31 December 2017 est.)
$47.59 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 54
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$348.2 billion (31 December 2017 est.)
$315.4 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 33
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$89.43 billion (31 December 2015 est.)
$116.6 billion (31 December 2014 est.)
$345.8 billion (31 December 2013 est.)
country comparison to the world (CIA rank, may be based on non-current data): 42
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
$9.491 billion (2017 est.)
$16.28 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 23
[see also: Current account balance country ranks ]

Exports:
$101.4 billion (2017 est.)
$83.98 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 37
[see also: Exports country ranks ]

Exports - partners:
China 27.5%, India 15.1%, South Korea 11.4%, Turkey 11.1%, Italy 5.7%, Japan 5.3% (2017)

Exports - commodities:
petroleum 60%, chemical and petrochemical products, fruits and nuts, carpets, cement, ore

Imports:
$76.39 billion (2017 est.)
$63.14 billion (2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 44
[see also: Imports country ranks ]

Imports - commodities:
industrial supplies, capital goods, foodstuffs and other consumer goods, technical services

Imports - partners:
UAE 29.8%, China 12.7%, Turkey 4.4%, South Korea 4%, Germany 4% (2017)

Reserves of foreign exchange and gold:
$120.6 billion (31 December 2017 est.)
$133.7 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 21
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$7.995 billion (31 December 2017 est.)
$8.196 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 122
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$50.33 billion (31 December 2017 est.)
$46.02 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 58
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$5.226 billion (31 December 2017 est.)
$4.656 billion (31 December 2016 est.)
country comparison to the world (CIA rank, may be based on non-current data): 76
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Iranian rials (IRR) per US dollar -
32,769.7 (2017 est.)
30,914.9 (2016 est.)
30,914.9 (2015 est.)
29,011.5 (2014 est.)
25,912 (2013 est.)