Economy

The head of Iran's Chamber of Commerce says the trade volume between Iran and China is currently 30 billion dollars but the two countries have the potential to increase the figure to 50 billion dollars per year.

Iran’s Ham-Mihan newspaper says the country has experienced its highest inflation in 80 years during the administration of President Ebrahim Raisi’s tenure.

The former deputy of the Arvnad Free Zone in southern Iran has been reportedly detained in on corruption charges.

Iran’s Minister of Industries, Mines and Commerce Abbas Aliabadi says Iran has turned into a regional trade and industrial hub despite the Western sanctions.

Iranian President Ebrahim Raisi says Western efforts to isolate Iran have failed as the country has resorted to its natural wealth and human resources to make the punitive measures fizzle out.

Iran and Pakistan are set to deepen their strategic ties by setting a 10-billion-dollar objective in their trade exchange and investment, IRNA news agency reported.

Tehran is exporting more oil than at any time for the past six years, giving its economy a $35bn-a-year boost, the Financial Times has reported.

Iran has renewed a contract with Iraq to export gas to its western neighbor for five more years.

The Iranian economic and financial affairs minister says the country experienced a growth rate of over 6 percent in economy during the past year.

The Taliban administration in Afghanistan has invested 35 million dollars in Iran’s southeastern port city of Chabahar on commercial, residential and administrative projects, the Iranian special envoy to Kabul announced.

The International Monetary Fund (IMF) has revised up its previous economic growth projection for Iran in 2023, attributing it to a higher-than-expected increase in Tehran’s oil output.

Iran’s ambassador to Moscow says a major Russian economic delegation is heading to Iran.

Secretary of Iran’s Supreme Council of Free Trade-Industrial and Special Economic Zones Hojjatollah Abdolmaleki has said negotiations are underway between Tehran and 21 states to launch joint free zones.

Tehran’s international trade with the Shanghai Cooperation Organization (SCO) has increased to over $37 billion in the first 10 months of the current Iranian calendar year starting on March 21, 2023, an Iranian official has stated.

Iranian President Ebrahim Raisi has stressed the necessity to enhance the tourism industry to diversify the sources of national income and diminish the country’s reliance on oil.

The International Monetary Fund (IMF) in its latest report put Iran’s economic growth in 2023 at 5.4 percent.

Tehran and Ankara have jointly declared their commitment to augmenting bilateral trade while also pledging collaborative efforts to achieve peace in West Asia.

Iran’s non-oil exports have reached $36bn over the past nine months.

Tehran and Moscow have officially switched from the West’s SWIFT financial clearing system to a direct interbank transfer mechanism, the deputy head of the Central Bank of Iran (CBI) has stated.

Probes by the General Inspection Organization of Iran indicate that “a certain company” that had received billions of dollars to import tea and machinery, sold the forex on free market at a higher exchange rate, marking “the largest fraud” in the country.

China’s ambassador to Iran says his country will contribute more heavily to the improvement of global economy through cooperation with Iran.

Iran and its eastern neighbor Afghanistan say trade relations between the two countries have to expand.

The head of Iran’s Chamber of Commerce tells the Iranian consulate general in Jeddah that Tehran is ready to participate in the infrastructure projects of Saudi Arabia such as ports, railways and roads.

The head of the Customs Organization of Iran says the country’s non-oil exports hit 54.6 billion dollars in the first half of the Persian year of 1402, starting on March 21, 2023.

Iran and Pakistan have struck a deal to facilitate road transportation and border operations to ensure timely clearance of goods in order to increase the daily traffic movements through the shared Mirjaveh-Taftan border crossing at least four-fold.