Sunday, March 26, 2023

Iran Economy

Iran launches new Phase of giant Gas Field in Persian Gulf

Iran has inaugurated Phase 14 of the South Pars Gas Field in the Persian Gulf during a ceremony attended by President Ebrahim Raisi.

Iranian MP: People getting weaker due to rial plunge against dollar

An Iranian member of parliament has issued a stark warning about the rising inflation in the country. Kazem Delkhosh Abatari said people are becoming weaker and weaker as a result of soaring prices.

Outspoken Iranian daily urges officials not to count on China for economic improvement

An outspoken Iranian daily accuses China of giving empty promises to Tehran in bilateral deals on trade cooperation, urging Iranian officials not to pin their hopes on Beijing in their efforts to improve the country’s economic situation.

Expert: First 10 months of current year was ‘inflation peak’ in Iran

An economic expert highlights a significant rise in Iran’s inflation under President Ebrahim Raisi, saying the first 10 months of the current Persian calendar year marked the peak of the country’s inflation in over seven decades.

Official: Iran non-oil exports rose by 17.66 percent to $45.3bn in ten months to January

Iran’s Customs Administration says the ten month exports of non-oil products in the country has hit 45.3 billion dollars, which is a 17.66 percent rise in terms of value compared to the same period of the previous year.

MPs urge Iran’s govt. branches to help sooth economic, political tensions

A group of Iranian lawmakers have written to the heads of the three branches of the government to adopt measures aimed at calming the political and economic tensions that have gripped the country over the past few months.

Iranian daily slams rising prices: Govt. officials incapable of running affairs

An outspoken Iranian daily criticizes a dramatic rise in prices and a drop in the value of the national currency, saying the economic shock shows the administration’s managers are unable to run the country’s affairs.

Statistics: Over 3 million lost jobs or left Iranian labor market in one year

Figures show more than three million people in Iran have either lost their employment or left the labor market in the country over the past year.

Private sector official: Cost of internet filtering to businesses well over $3bn announced

The Iranian private sector’s House of Industry and Mine says the cost of over a month of strict internet filtering in Iran due to protests and riots is far higher than the nearly $3bn announced by the Iranian chamber of commerce.

President Raisi: Iran witnessing growth in exports despite sanctions, threats

Iranian President Ebrahim Raisi says the Islamic Republic has recorded a significant growth in exports, including non-oil sales, despite all the economic sanctions and threats against the country.

“Livelihoods of 9 million people in peril because of internet shutdown”

The deputy head of Iran's chamber of commerce says each hour of internet outage is causing a loss of $1.5 million to the economy. Hossein Salahvarzi, in the meeting of the council of negotiations between the private sector and the government, said this has also put 9 million jobs at peril in Iran.

Iranian VP: Free trade zones with Russia can render sanctions ineffective

Iran’s First Vice President Mohammad Mokhber says US-led sanctions cannot stand in the way of trade between Iran and Russia، highlighting the role of free trade zones in bypassing the embargoes and expanding bilateral ties.

Iran’s exports of industrial products up 70%

Iran’s exports of industrial products have increased by 70% during the tenure of Ebrahim Raisi, who took over as Iranian President in August 2022.

Iran customs: Exports to Africa increased 40% in 5 months

Iran has experienced a 40-percent increase in its exports to African countries during the first five months of the Iranian year, from March to August, the spokesman for the Iranian customs announced.

Official: Iran-ECO trade up 40 percent

The spokesman of the Islamic Republic of Iran Customs Administration reports a 40-percent rise in the country’s exports of non-oil commodities to members of the Economic Cooperation Organization (ECO) in the first five months of this year, compared to the same period in 2021.

Poll: 87% of investors have no ‘clear picture’ of Iranian economy’s future

An opinion poll finds that a majority of investors in Iran do not have a “clear” picture of the country’s future, given the economic woes facing the Islamic Republic, saying they are now “walking the razor’s edge.”

Official: Iran’s 5-month trade with neighbors exceeds $20bn

Over 33 tons of goods worth 20.6 billion dollars have been exchanged between Iran and its neighboring counties during the past five months, showing a significant rise compared to same period last year, the spokesperson of Iran’s customs administration says.

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

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

Iranian official: 22% increase in exports to neighbors

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.

Iran reports 58% increase in transit of foreign goods

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.

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

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

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

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.

Iranian Intelligence Ministry dismantles forgery ring

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

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

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.

Iranian president urges efforts to streamline border trade

Iranian President Ebrahim Raisi has called for authorities to make efforts to improve the livelihoods of people living in border areas.

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