Economy

All News about Iranian Economy – Looking at Iran’s economy on a macro scale, including the big decisions and policies that would shape the markets today and tomorrow.

Industry

Official: Iran will start biggest exhibition presence in Moscow Monday

IFP Editorial Staff -
A spokesman for Iran’s Ministry of Industry, Mining and Commerce says the country’s biggest exhibition presence will kick off on Monday in Moscow.
Economy

‘Value of Iran-Iraq trade to reach $9bn mark by year end despite US sanctions’

IFP Editorial Staff -
The chairman of the Iran-Iraq Chamber of Commerce says the value of trade between Tehran and Baghdad will reach the 9-billion-dollar mark in seven months, despite the tough US economic sanctions in place against Iran.
Economy

Report reveals billion-dollar corruption in Iran’s steel factory

IFP Editorial Staff -
The Iranian parliament has released a scathing report involving a 3-billion-dollar corruption case in a mega-scale steel company’s management and financial transactions after a 19-month investigation.
Industry

Iran car industry eyes bigger share from Russian market

Mahdi Arman -
The Western sanctions on Russia over the conflict in Ukraine has provided a new opportunity for Iran’s automobile and auto parts industry to gain a firm foothold in its northern neighbor’s markets, an Iranian official says.
Economy

Pakistani official says Islamabad and Tehran close to signing free trade agreement

IFP Media Wire -
Iran and Pakistan are expected to sign a free trade agreement (FTA) within the next six months, a senior Pakistani government official has said.
Economy

Figures show 48% growth in foreign trade during 1st year of Raisi’s administration

IFP Editorial Staff -
During the first year of the 13th Iranian administration under President Raisi, the Islamic Republic’s foreign trade grew by an unprecedented 48%.
Economy

Iran’s roads minister in Pakistan for economic meeting

IFP Editorial Staff -
Iran’s minister of roads and urban development says the Islamic Republic and Pakistan are set to remove obstacles to expand their bilateral trade ties.
Economy

‘Iran-EU trade value up by 34% in first half of 2022’

IFP Editorial Staff -
New data show the value of trade exchanges between Iran and the European Union (EU) rose by 34 percent in the first half of this year, compared to same period in 2021, surpassing €2.5 billion.
Economy

Iranian official: 22% increase in exports to neighbors

IFP Editorial Staff -
The spokesman for Iran’s customs organization has said in the first four months of the Persian year of 1401, 27,035,000 tons of goods worth $16,871,873,000 have been traded between Iran and neighboring countries.
Economy

Iran reports 58% increase in transit of foreign goods

IFP Editorial Staff -
The spokesman for Iran’s customs organization says since President Ebrahim Raisi took office in late August 2021, 151,496mn tons of goods worth $101,820bn have been traded between Iran and foreign countries.
Economy

Iran’s non-oil foreign trade touches $9bn mark

IFP Editorial Staff -
Iran’s non-petroleum foreign trade rose 19% in the month ending July 22, 2022, standing at nearly $9 billion, says an Iranian official.
Economy

US sanctions reduce Iran-Japan trade by almost 80 percent: Ambassador

IFP Editorial Staff -
Japan’s Ambassador to Tehran Aikawa Kazutoshi says sanctions imposed by the United States have reduced bilateral trade between Tehran and Tokyo by almost 80 percent in the past several years.
Economy

Iran’s no-oil exports rise by 22% in first 4 months of this year

IFP Editorial Staff -
The Iranian government spokesman Ali Bahadori says Iran's no-oil exports in the first 4 months of the  Persian year 1401 hit 17 billion dollars.
Economy

Iran’s exports to China up by 31% in first half of 2022

IFP Editorial Staff -
Iran’s exports to China increased by 31% in the first half of the year 2022, with the trade volume between the two countries exceeding 8 billion dollars, according to the latest statistics published by China’s General Administration of Customs.
Economy

‘Demands high from China, India for northern Iranian ports’

IFP Editorial Staff -
Demands are increasing from Chinese and Indian merchants to transport goods via northern Iranian ports which indicate the North-South transit corridor is up and coming, an Iranian official says.
Economy

Iran, Russia to officially ditch dollar in bilateral trade

IFP Editorial Staff -
Iran and Russia will definitely remove the dollar from their bilateral transactions, the Iranian minister of economy has confirmed, adding that talks are underway with other countries to continue the de-dollarization process.
Energy

Erdogan: Turkey to increase oil, natural gas imports from Iran

IFP Editorial Staff -
Turkish President Recep Tayyip Erdogan says his country will increase oil and natural gas imports from Iran.
Economy

Iranian Intelligence Ministry dismantles forgery ring

IFP Editorial Staff -
Iran’s Intelligence Ministry says its agents have dismantled a forgery and corruption ring after identifying all its members.
Economy

Chinese ambassador: Iran can play key role in China’s ‘Belt & Road’

IFP Editorial Staff -
The Chinese ambassador to Iran says the Islamic Republic can play a major role in Beijing’s Belt & Road initiative, a hundreds of billions of dollar project aimed at reviving the ancient Silk Road trade route.
Economy

Iran 10th bigest steel producrer in the world, despite decrease in production

IFP Editorial Staff -
World Steel Association declared in its latest report that steel production in Iran in June 2022 decreased by 10.5% compared to the same period in 2021.
Energy

Iran to export 400 megawatts of electricity to Iraq in 5 years

IFP Editorial Staff -
The Iraqi ministry of energy says, Iran will export some 400 megawatts of electricity to Iraq in five years.
Finance

Iran and Russia to gradually ditch dollar in foreign trades

IFP Editorial Staff -
Iran and Russia have prepared the ground to do away with the dollar in their bilateral trade and cushion their economies against ‘unjust’ US-speared Western embargoes, the governor of Iran’s Central Bank says.
Finance

Iran’s central bank governor upbeat about rial-ruble trading

IFP Editorial Staff -
Iran’s move to launch trading in the Iranian rial-Russian ruble in its foreign exchange market can further bolster its economic relations with Russia and diminish other foreign currencies’ role in the Iranian market, according to the governor of the Central Bank of Iran (CBI).
Economy

“Iran-Russia trade grew by over 81 percent in 2021”

IFP Editorial Staff -
The chairman of the Iran-Russia chamber of commerce says trade between the twi countries grew by 81.7 percent and reached $4.03 billion in 2021.
Economy

Kremlin: Russia and Iran to ditch dollar in trades

IFP Media Wire -
Kremlin Spokesperson Dmitry Peskov announced on Monday that Moscow and Tehran would gradually abandon the use of the dollar in bilateral relations.
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