Iran Economy

The latest news and views about the economy of Iran

Economy

Iran eyes improved marine transportation capacity in road to becoming regional transit hub

IFP Editorial Staff -
Deputy Iranian Minister of Roads and Urban Development says an increase in the number of marine transportation fleet in the northern and southern waters is expected to lead to considerable rise in trade with neighboring countries.
Economy

Iranian daily belittles Raisi administration for boasting of ‘small-time trade with region’

IFP Editorial Staff -
An Iranian daily has criticized the President Ebrahim Raisi administration for boasting of a policy of economic engagement with regional countries, which “accounts for merely six percent of the world economy.”
Economy

Thanks to trade diplomacy, Iran’s exports rise across board

IFP Editorial Staff -
Official figures show Iran’s exports to neighbors and beyond grew last year despite harsh US sanctions on the country.
Economy

Iranian official: Neighbors accounted for 51 percent of Iran’s total exports

IFP Editorial Staff -
The Iranian Customs Organization’s spokesman has said non-oil trade between the country and neighbors in the first quarter of this Persian year was $12.36bn. Seyyed Ruhollah Latifi added that neighbors accounted for 51 percent of Iran’s total exports.
Economy

Iran to roll out pilot version of Crypto-Rial digital currency soon

IFP Editorial Staff -
Iran says it is preparing to roll out a pilot version of its first Central Bank Digital Currency (CBDC), named Crypto-Rial, in around two months, in a development that could transform the country’s financial canvas.
Economy

Daily critical of soaring prices of goods in Iran

IFP Editorial Staff -
An Iranian daily says the administration of President Ebrahim Raisi has failed to make good on his promises to keep prices of basic commodities and products in check after removing the subsidies.
Economy

Report: Iran registers highest monthly inflation figure since 1979

IFP Editorial Staff -
Iran’s monthly inflation has hit a four-decade record high of 12.2 percent over the Persian calendar month of Khordad – May 22 to June 21.
Economy

Iran’s foreign trade hits $25.5bn in the first quarter

IFP Editorial Staff -
Iran’s Customs Administration says the country recorded a foreign trade of 25.5 billion dollars in the first three months of the current Persian calendar year that began on March 21.
Economy

Iranian economists warn about consequences of government policies

IFP Editorial Staff -
Dozens of Iranian economists, in an open letter addressed to the government, have expressed concern about the current social and economic situation in the country saying public worries about their livelihoods and businesses have reached a point of explosion.
Economy

Govt. rejects reports on fuel prices rise

IFP Editorial Staff -
Iran’s government spokesman has dismissed reports that the president is considering a rise in gasoline prices, after Ebrahim Raisi’s comments on “difficult economic decisions” triggered panic about further economic woes, amid raging inflation.
Economy

Iran’s president unveils 82 projects

IFP Editorial Staff -
Iranian President Ebrahim Raisi has unveiled 82 industrial, construction and agricultural projects in Iran’s free and special trade zones via video conference.
Security

Shamkhani: Iran firmly resolved to push ahead with development plan

IFP Editorial Staff -
The secretary of Iran’s Supreme National Security Council has said Iran’s Islamic establishment is firmly resolved to push the country toward development.
Local

President Raisi: Govt. seeking to materialize 8% economic growth

IFP Editorial Staff -
Iranian President Ebrahim Raisi says the government is seeking an eight percent economic growth and management of the so-called preferential foreign currency rate, allocated to some basic goods to prevent a rise in their prices.
Local

President Raisi says his administration ‘doesn’t seek to remove subsidies’ for essential goods

IFP Editorial Staff -
Iranian President Ebrahim Raisi says his administration seeks to reform the allocation of subsidies for essential goods but does not aim to eliminate them.
Local

Iran’s VP: Govt. seeking fair distribution of subsidies

IFP Editorial Staff -
Iran’s first vice president says the administration is determined to enable a fair distribution of subsidies among the people, urging the public “not to worry” over purchases of essential items, amid a rise in prices of certain flour-based goods in the country.
Economy

Prices of some essential items soaring in Iran as govt. eliminates flour subsidy

IFP Editorial Staff -
Iranians have, in recent days, witnessed a steep hike in prices of essential items, mainly wheat-based food, in the aftermath of a government decision to eliminate the subsidy for industrial use of flour.
Economy

Iran’s economic growth rate was 5.8% last fall: Central Bank

IFP Editorial Staff -
Iran’s Central Bank has released the economic indices for the third quarter of the last Persian-calendar year (ended March 20).
Economy

Iran registered positive balance of trade last month: Customs official

IFP Editorial Staff -
An Iranian customs official says the Islamic Republic registered a positive balance of trade in the first month of the Persian calendar year (ended April 20).
Economy

Iran’s trade rises 3-fold in Q1 of 2022: Customs

IFP Editorial Staff -
Iran’s Customs Administration says the country’s foreign trade registered a more than three-fold increase in the first quarter of 2022 year on year.
Economy

Iran trade with neighbors grows to $52bn

IFP Editorial Staff -
The value of Iran’s trade with neighboring countries grew 43% percent last Iranian calendar year, compared to the previous one, which ended on March 20.
Economy

Iran’s non-oil trade hits record high in years: Official

IFP Editorial Staff -
Iran’s non-oil trade hit a record high figure in the Iranian calendar month ending March 20, an Iranian customs official says.
Economy

Iranian president says economy not tied to JCPOA

IFP Editorial Staff -
Iran’s President Ebrahim Raisi says his administration has not tied the Iranian people’s lives to the 2015 nuclear deal, JCPOA.
Economy

Iran’s steel exports surpass 6.4 million tonnes in 11 months

IFP Editorial Staff -
Iran exported upwards of 6.4 million tonnes of steel and steel products in the eleven months to late February 2022, registering a 9%-rise year on year.
Economy

Historic growth in Iran’s foreign trade

IFP Editorial Staff -
Official figures show Iran's foreign trade increased by 50% in January and February of this year.
Economy

Iranian daily: Officials paying lip service to improving economy

IFP Editorial Staff -
Iranian daily Jomhouri Eslami - Islamic Republic – has strongly criticized the government’s handling of the economic situation in the country, saying the pressure people are facing to provide for their livelihoods “has broken their backs”.
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