StatisticsGDP
nominal: $331.8 billion
GDP growth
2.6% (
real GDPgrowth
- 2009 est.)
GDP per capita
$12,900 (2009 est.); world ranking: 85th (by PPP)
GDP by sector
agriculture (10.9%), industry (45.2%), services(43.9%) (2009 est.)
GDP bycomponent
Private consumption (36.4%)Government consumption (10.3%)Gross fixed investment (23.9%)Exports of goods/services (34.6%)Imports of goods/services (-19.7%)(2008 est.)
18% (2007 est.)
38% (2008 est.)
Labor force
25.02 million (2009 est.);
note
: shortage of skilled labor
Main industries
, power
,textiles, construction,cementand other construction
materials,food processing(particularly sugar refining
and vegetable oil production), ferrous and non-ferrousmetal fabrication
ExternalExports
$70.16 billion (2009 est.)f.o.b.
Export goods
petroleum (80%), chemical and petrochemical products (4%), fruits and nuts (2%), cars (2%),carpets (1%), technical services
Main exportpartners
China 15.3%, Japan 14.3%, India 10.4%, SouthKorea 6.4%, Turkey 6.4%, Italy 4.5% (2008)
Imports
$57.16 billion (2009 est.) f.o.b.
Import goods
industrial raw materials and intermediate goods(46%), capital goods (35%), foodstuffs and other consumer goods (19%), technical services
Main importpartners
UAE 19.3%, China 13%, Germany 9.2%, SouthKorea 7%, Italy 5.1%, France 4.3%, Russia 4.2%(2008)
Gross externaldebt
$18.73 billion (31 December 2009 est.)
Public financesPublic debt
19.4% of GDP (2009 est.)
Revenues
$97.71 billion (2009 est.): 45% from oil exports, 31%from taxes, tariffs and fees, 20% from government properties and holdings
(
on exchange rate basis, not PPP)
Expenses
$84.78 billion (2009 est.)
(on exchange rate basis)
Economic aid
$121 million (2008 est.)
Credit rating
B
for sovereign risk (June 2009)
Foreign reserves
$81.31 billion (31 December 2009 est.)
All values, unless otherwise stated, are inUS dollars
The
economy of Iran
is thesixteenth largesteconomy in the world by purchasing power parity
(PPP). It is atransition economywith a large public sector and an estimated 50% of the economycentrally planned.
A unique feature of Iran's economy is the large size of thereligious foundationswhose combined budgets make up half that of thecentral government.
Iran is one of the few major economies that did not suffer directly from the2008 global financial crisis.
Distortionsresulting from a combination of price controls and subsidies, particularly on food andenergy,
PresidentMahmoud Ahmadinejadhas proposed replacingenergy subsidieswith
targeted social assistance.
However, previousgovernment-led efforts at reform- such asfuel rationing in July 2007and the imposition of thevalue-added tax (VAT)in October 2008 -
were met with stiff resistance andviolent protests.
Highoil pricesin recent years have enabled Iran to amassUS$97 billion inforeign exchange
reserves.
Yet this increased revenue has not eased economic hardships, which include double-digitunemploymentandinflation. According to theCentral Bank of Iran,annual inflation
declined to 11.5% as of February 2010.
The economy has seen only moderate growth. Iran'seducated population, economic inefficiency, and insufficientforeign and domestic investment
have prompted an increasing number of Iraniansto seek employment overseas, resulting insignificant " brain drain".
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