Iran Economy

Mohammad Reza Rezvanifar, the head of Iran's Customs Administration, announced that Iran's non-oil trade with 15 neighboring countries reached 50 million tons, valued at $32.6 billion, during the first half of the current year.

Iranian Vice President Mohammadreza Aref has been the subject of criticisms for saying on Sunday that importing gasoline price at high prices and selling it at heavily-subsidized prices is ‘unreasonable.’

The Chairman of the Board of the Securities and Exchange Organization of Iran Majid Eshghi confirmed on Saturday he resigned from the post after a long period that the markets have been in the red, and days into a reported row over low-rate bank loans he received.

Iranian media is abuzz with controversy after it was revealed that senior members of the country's Securities and Exchange Organization (SEO) granted themselves loans totaling 10.5 billion tomans. 

Iran’s ban on importing iPhone cellphones has led to a capital flight of 900 million dollars to sneak the phones in high demand into the country through illegal channels and smuggling, the head of the country’s Association of Mobile Phone Importers says.

Iranian President Masoud Pezeshkian has described the expansion of international interactions as a key solution to the country's economic challenges. He also emphasized his administration's endeavours to foster such cooperation and attract foreign investment.

Iranian President Massoud Pezeshkian’s nominee for the ministry of industry, mine, and trade says developing exports and boosting the country’s trade balance through increasing non-oil exports is a top priority in his program.

The assassination of the Palestinian resistance movement Hamas’ political chief Ismail Haniyeh on Wednesday in Tehran in an Israeli plot just a day after Iranian President Massoud Pezeshkian’s inauguration ceremony, casts a pall over the president’s economic agenda amid spiraling tensions, an Iranian daily warns.

A new poll found that a majority of Iranians are upbeat that the new Iranian President Masoud Pezeshkian and his administration can tame high levels of inflation in the country. The swearing-in ceremony for Pezeshkian was held at the Parliament on Tuesday.

Iran’s export of non-oil items has increased by $1.35 billion during the first four months of the current year on the Iranian calendar, staring on March 20, according to official figures.

Iran’s trade with its neighboring countries has reached 20 billion dollars, showing a 6-percent increase in the past 4 months.

Iran’s national currency, the rial, is still in the doldrums having lost considerable value since last year – but it regained some lost ground at market open on Saturday. It comes after Reformist candidate Masoud Pezeshkian won Iran's presidential election, securing 53.3% of the votes and defeating his principlist rival Saeed Jalili

In a recent statement, Ali Akbar Salehi, Iran's former Head of the Atomic Energy Organization, emphasized that whoever assumes the Iranian presidency will certainly have to seek the advice of experts on Iran's decision to join the Financial Action Task Force (FATF). 

Iran’s Jomhouri-e Eslami newspaper has blasted the Iranian government for what it called just standing idly by and watching while the cumbersome extreme inflation is affecting people’s livelihood.

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.

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’s administration has failed to relieve people of the economic burden in their daily lives despite ‘promising’ reports released by the government, an Iranian newspaper argues.

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 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.

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.

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

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

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.

A Tehran-based  international expert says that the key to reviving Iran's stagnant economy lies in resolving the issues surrounding the Joint Comprehensive Plan of Action (JCPOA), the International Atomic Energy Agency (IAEA), and the Financial Action Task Force (FATF).