The country is hoping to attract billions of dollars' worth of foreign investment by creating a more favorable investment climate through freer trade. Cooperative companies and enterprises concerned with production and distribution in urban and rural areas form the basis of the cooperative sector and operated in accordance with Shariah law. [277], Government loans and credits are available to industrial and agricultural projects, primarily through banks. [167] Agriculture contributes just 10% to GDP and employs 16% of the labor force. [251] In 2008 Iran paid $84 billion in subsidies for oil, gas and electricity. GDP in Iran averaged 159.93 USD Billion from 1960 until 2017, reaching an all time high of 598.87 USD Billion in 2012 and a record low of 4.20 USD Billion in … Please authenticate by going to "My account" → "Administration". In 2014 software exports stood at $400 million. ", "Ambitious modernization program for the Tehran Stock Exchange", Organization for Investment Economic and Technical Assistance of Iran, "Memorandum of the foreign trade regime of Iran", "The National Report on E-Commerce in Iran", "Science, Technology and Innovation Policy Review – The Islamic Republic of Iran", United Nations Conference on Trade and Development, "Iran: Concluding Statement of an IMF Staff Visit", "Regional Economic Outlook: Middle East and Central Asia", "Iranian Youth in Times of Economic Crisis", "Economic Prospects for the Middle East and North Africa Region", "Normalization of Economic Relations: Consequences for Iran's Economy and the United States", Carnegie Endowment for International Peace, Iran (including business etiquette information), Ministry of Economic Affairs and Finance Of Iran, Ministry of Industry, Mine & Trade of Iran, High Council of Iran Free Trade-Industrial Zone, Organization For Investment, Economic and Technical Assistance of Iran, U.S. Central Intelligence Agency: Iran's entry, Economist Intelligence Unit: Iran's entry, South Pars/North Dome Gas-Condensate field, National Iranian Oil Refining and Distribution Company, DESA - Iran Heavy Diesel Manufacturing Company, Organization of the Petroleum Exporting Countries, https://en.wikipedia.org/w/index.php?title=Economy_of_Iran&oldid=982469246, Articles with dead external links from February 2017, CS1 maint: BOT: original-url status unknown, Articles with dead external links from November 2016, Articles with dead external links from December 2016, Articles with permanently dead external links, Articles with dead external links from August 2016, Articles with dead external links from June 2016, Wikipedia articles in need of updating from May 2020, All Wikipedia articles in need of updating, All Wikipedia articles written in American English, Articles with unsourced statements from September 2016, Creative Commons Attribution-ShareAlike License, industrial raw materials and intermediate goods (46%), capital goods (35%), foodstuffs and other consumer goods (19%), technical services, 37.1 billion (expected, Budget Law 2020/2021), 8% on average (based on $1.1 trillion domestic and. Even in the face of economic sanctions, Iran is emerging as an industrialized country. PPP conversion factor, private consumption (LCU per international $). [7] Mineral products, notably petroleum, account for 80% of Iran's export revenues, even though mining employs less than 1% of the labor force. [323] Firms from over 50 countries invested in Iran between 1992 and 2008, with Asia and Europe the largest participants as shown below:[324], The economic impact of a partial lifting of sanctions extends beyond the energy sector; The New York Times reported that "consumer-oriented companies, in particular, could find opportunity in this country with 81 million consumers, many of whom are young and prefer Western products". [161] Bonyad companies also compete with Iran's unprotected private sector, whose firms complain of the difficulty of competing with the subsidized bonyads.

By mid-2008, the country produced about 1.3 million short tonnes of coal annually and consumed about 1.5 million short tonnes, making it a net importer. [318], Unfavorable or complex operating requirements and international sanctions have hindered foreign investment in the country, despite liberalization of relevant regulations in the early 2000s. [182] In 2010, Iran's Department of Statistics announced that 10 million Iranians live under the absolute poverty line and 30 million live under the relative poverty line. Twitter [200] A total of 12,198 entities are engaged in the Iranian food industry, or 12% of all entities in the industry sector. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page.

Protesters began to demand the ousting of President Hassan Rouhani.

In 2009 this was about $263 per month ($3,156 per year). National Geoscience Database of Iran (2010), Iran to extend rail network to 15,000 kilometers by 2015, Organization for Investment and Technical Assistance of Iran, 'Iran cargo transit revenue to hit $12 bn', "Iran approves the Sixth Development Plan to boost investment", "Crude price pegged at dlrs 39.6 a barrel under next year's budget", Iran's parliament approves $462 billion budget, Ten Million Iranians Under "Absolute Poverty Line", Experts: Steinitz exaggerates on Iran economy, Najmeh Bozorgmehr: Subsidy dispute adds to Iran’s woes, Minister: Iran Facing No Problem in Currency Reserves, Revenues, Iran's external debts cut by $10b, hit $7.2b: Central Bank Chief, Iran: Concluding Statement of an IMF Staff Visit, Katy Barnato: Iranians to splash up to $8B on overseas property: Study, Decentralization key to solving economic problems, Minister predicts high rate of firm closures, Ahmadinejad slams corrupt hoarders of wealth: "The Iranian 1%", "Hard-Line Force Extends Grip Over a Splintered Iran", "Ahmadinejad's Achilles Heel: The Iranian Economy", "National adult literacy rates (15+), youth literacy rates (15–24) and elderly literacy rates (65+)".

The authorities' belated response will also fuel popular anger and a humanitarian crisis. [38] Women made up 33% of the labor force in 2005. [51][52], After hostilities ceased in 1988, the government tried to develop the country's communication, transportation, manufacturing, health care, education and energy sectors (including its prospective nuclear power facilities), and began integrating its communication and transportation systems with those of neighboring states. – The foreign trade regime of the Islamic Republic of Iran, Iran ranks 17th in science production in 2012, Judith Evans: Fund managers on the Iranian frontier, "Iran advances 41 places in industrial production". The country's carpet-weaving tradition dates from pre-Islamic times and remains an important industry contributing substantial amounts to rural incomes. [230] Iran is ranked among the world's 15 major mineral-rich countries. This fall led to a drop in revenues and clashes on the streets of Tehran when the local currency, the rial, collapsed. [146] Consumer cooperatives have over six million members. The government owns 90% of all mines and related industries and is seeking foreign investment.

[236] Aluminum and copper production are projected to hit 245,000 and 383,000 tons respectively by March 2009.

[229][232] The mine at Sar Cheshmeh in Kerman Province is home to the world's second largest store of copper. Iran’s GDP in 2019/20 is estimated at US$463 billion.

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