Iran Economy

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).

Iran has exported more than three million metric tons of food products in the first five months of the current Iranian calendar year (March 21-August 22), which shows a 19% increase in value compared to the same period last year, according to a report.

The International Monetary Fund (IMF) has revised up its 2023 economic growth forecast for Iran amid its better oil exports and despite the continued pressure of the US sanctions.

Iran’s foreign debts were reduced to $6.282 billion in the last Persian calendar year (ended on March 20), showing a 27.6 percent decrease compared to a year before, according to a report by the Central Bank of Iran (CBI).

A report by the International Monetary Fund (IMF) says that the soaring inflation rates in Iran will fall significantly with an increase in demand for Iranian oil in major Asian economies and amid a gradual drop in consumer prices across the globe.

The latest data released by the World Steel Association (WSA) show that Iran’s production of crude steel has accounted for 70% of the total output in the Middle East region during the first five months of the current year.

Iranian businesses believe trade with Arab countries of the Persian Gulf could see a jump in the near future amid a political rapprochement between Tehran and Riyadh, an official with Iran's private sector says.

Iran’s First Vice President Mohammad Mokhber says the country’s assets frozen by US sanctions have been released in some countries, and that Tehran is making efforts to get access to the rest.

An Iranian economist criticizes President Ebrahim Raisi’s handling of the country’s economic issues, claiming that the inflation set a record high in eight decades under his administration.

Figures released by the World Bank show that Iran's economy grew by 4.7 percent in the fourth quarter of 2022, standing at 15th place in the globe in terms of economic growth.

The World Bank (WB) has predicted that Iran’s economy will register a 2.2 percent growth in 2023 in spite of tough US sanctions.