Jump to content
Main menu
Main menu
move to sidebar
hide
Navigation
Main page
Recent changes
Random page
Help about MediaWiki
Special pages
Niidae Wiki
Search
Search
Appearance
Create account
Log in
Personal tools
Create account
Log in
Pages for logged out editors
learn more
Contributions
Talk
Editing
Economy of Iran
Page
Discussion
English
Read
Edit
View history
Tools
Tools
move to sidebar
hide
Actions
Read
Edit
View history
General
What links here
Related changes
Page information
Appearance
move to sidebar
hide
Warning:
You are not logged in. Your IP address will be publicly visible if you make any edits. If you
log in
or
create an account
, your edits will be attributed to your username, along with other benefits.
Anti-spam check. Do
not
fill this in!
{{Short description|none}} {{Update|date=April 2023}} {{Use American English|date=April 2023}} {{Use mdy dates|date=April 2023}} {{Infobox economy | country = Iran | image = North Tehran Towers.jpg | image_size = 300px | caption = [[Tehran province]] hosts 45% of [[Industry of Iran|Iran's industries]].<ref>{{cite web |url=http://csis.org/files/media/csis/pubs/081006_iran_nuclear.pdf |author=Anthony H. Cordesman |title=The US, Israel, the Arab States and a Nuclear Iran. Part One: Iranian Nuclear Programs |date=September 23, 2008 |publisher=[[Center for Strategic and International Studies]] |access-date=September 25, 2010 |archive-date=August 6, 2010 |archive-url=https://web.archive.org/web/20100806042511/http://csis.org/files/media/csis/pubs/081006_iran_nuclear.pdf }}</ref> | currency = [[Iranian rial]] (IRR,﷼){{refn|group=note|Iran devalued its currency in July 2013}} | year = [[Iranian calendar|March 21–20]] | organs = [[Economic Cooperation Organization|ECO]], [[OPEC]], [[Gas Exporting Countries Forum|GECF]], [[World Trade Organization|WTO]] (observer), [[Shanghai Cooperation Organisation|SCO]], [[Brics]] and others | group = {{plainlist| *[[Developing country|Developing/Emerging]]<ref>{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=429,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2011&ey=2022&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2022|publisher=[[International Monetary Fund]] |website=IMF.org |access-date=November 6, 2022}}</ref> *Upper-middle income economy<ref>{{cite web | title= World Bank country classifications by income level for 2024-2025| website=World Bank | url= https://blogs.worldbank.org/en/opendata/world-bank-country-classifications-by-income-level-for-2024-2025 | access-date= December 18, 2024}}</ref> }} | population = {{IncreasePositive}} 91,997,839 (2025)<ref>{{Cite web|url=https://www.worldometers.info/world-population/iran-population/|title=Iran Population (2025)|website=Worldometer}}</ref> | gdp = {{plainlist| *{{increase}} $463.747 billion ([[Nominal GDP|nominal]]; 2025 est.)<ref name="IMFWEORU">{{cite web|url=https://www.imf.org/en/Publications/WEO/weo-database/2024/October/weo-report?c=429,&s=NGDPD,PPPGDP,NGDPDPC,PPPPC,&sy=2022&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=World Economic Outlook Database, October 2024|publisher=[[International Monetary Fund]]|website=IMF.org|access-date=11 November 2024}}</ref> *{{increase}} $1.782 trillion ([[Purchasing power parity|PPP]]; 2025 est.)<ref name="IMFWEORU"/> }} | gdp rank = {{plainlist| *[[List of countries by GDP (nominal)|36th (nominal; 2024)]] *[[List of countries by GDP (PPP)|23rd (PPP; 2024)]] }} | growth = {{plainlist| * 4.7% (2021) * 3.0% (2022) * 2.0% (2023)<ref name="Global Economic Prospects">{{cite web |title=WORLD ECONOMIC OUTLOOK 2022 OCT Countering the Cost-of-Living Crisis|url=https://www.imf.org/-/media/Files/Publications/WEO/2022/October/English/text.ashx |website=www.imf.org |publisher=[[International Monetary Fund]] |page=43|access-date=11 October 2022}}</ref> }} | per capita = {{plainlist| *{{increase}} $5,300 (nominal; 2025 est.)<ref name="IMFWEORU"/> *{{increase}} $20,369 (PPP; 2025 est.)<ref name="IMFWEORU"/> }} | per capita rank = {{plainlist| *[[List of countries by GDP (nominal) per capita|117th (nominal; 2024)]] *[[List of countries by GDP (PPP) per capita|93rd (PPP; 2025)]] }} | sectors = {{plainlist| *[[Primary sector of the economy|Agriculture]]: 6.9% (2016 est.) *[[Secondary sector of the economy|Industry]]: 35.3% (2016 est.) *[[Tertiary sector of the economy|Services]]: 55% (2017 est.)<ref name="CIAWFIR"/> }} | components = {{plainlist| *Household consumption: 49.7% *Government consumption: 14% *Investment in fixed capital: 20.6% *Investment in inventories: 14.5% *Exports of goods and services: 26% *Imports of goods and services: −24.9% *(2017 est.)<ref name="CIAWFIR"/> }} | bankrate = NA<ref name="CIAWFIR"/> | inflation = {{DecreasePositive}} 29.5% (2025)<ref>{{cite web | url=https://www.statista.com/statistics/294320/iran-inflation-rate/ | title=Iran - inflation rate 2027 }}</ref> | gini = {{decreasePositive}} 38.8 {{color|darkorange|medium}} (2018)<ref>{{Cite web|url=https://knoema.de//atlas/Iran/Gini-Koeffizient|title=Iran Gini-Koeffizient, 2017-2018 - knoema.com|website=Knoema|language=de-DE|access-date=December 15, 2019}}</ref> | hdi = {{plainlist| *{{increase}} 0.780 {{color|green|high}} (2022)<ref name="hdi">{{cite web |url=https://hdr.undp.org/data-center/specific-country-data#/countries/IRN |title=Human Development Index (HDI) |publisher=[[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |website=hdr.undp.org}}</ref> ([[List of countries by Human Development Index|78th]]) *{{increase}} 0.584 {{color|darkorange|medium}} [[List of countries by inequality-adjusted HDI|IHDI]] (2022)<ref name="hdi"/>}} | cpi = {{decrease}} 24 out of 100 points (2023, [[Corruption Perceptions Index|149th rank]]) | edbr = {{increase}} [[Ease of doing business index#Ranking|127th (medium, 2020)]]<ref name="Ease">{{cite news |url=http://www.doingbusiness.org/data/exploreeconomies/iran |title=Ease of Doing Business in Iran, Islamic Rep |newspaper=World Bank |publisher=Doingbusiness.org |access-date=January 25, 2017 }}</ref> | poverty = {{plainlist| *55% living on less than 3.4 million [[Iranian toman|toman]]s/month (2019; per [[Majlis Research Center]])<ref>{{cite web|url=https://www.dw.com/fa-ir/iran/a-48785539|title=Iخط فقر در ایران دامنهدارتر شده است|work=Deutsche Welle |language=fa}}</ref> *{{decreasepositive}} 22% on less than $6.85/day (2022)<ref>{{cite web |url=https://data.worldbank.org/indicator/SI.POV.UMIC?locations=IR&most_recent_value_desc=true |title=Poverty headcount ratio at $6.85 a day (2017 PPP) (% of population) - Iran, Islamic Rep. |publisher=[[World Bank]] |website=data.worldbank.org}}</ref>}} | labor = {{plainlist| *{{increase}} 27,358,987 (2019)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.TLF.TOTL.IN?locations=IR |title=Labor force, total{{Snd}} Iran, Islamic Rep. |publisher=[[World Bank]] |website=data.worldbank.org |access-date=November 3, 2019}}</ref> *{{increase}} 39.1% employment rate (2018)<ref>{{cite web |url=https://data.worldbank.org/indicator/SL.EMP.TOTL.SP.NE.ZS?locations=IR&most_recent_value_desc=true |title=Employment to population ratio, 15+, total (%) (national estimate){{Snd}} Iran, Islamic Rep. |publisher=[[World Bank]] |website=data.worldbank.org |access-date=November 3, 2019}}</ref>}} | average net salary = {{plainlist| *Urban households: *IRR 17 million, monthly (FY 2013)<ref name="amar_income">{{cite web |url=http://www.amar.org.ir/Portals/0/Files/abstract/1392/ch_hd_shr_92.pdf |script-title=fa:چکیده نتایج طرح آمارگیری هزینه و درامد خانوارهای شهری و روستایی - ۱۳۹۲ |publisher=Statistical Center of Iran |date=July 13, 2014 |access-date=December 4, 2014 |language=fa |archive-url=https://web.archive.org/web/20141204065317/http://www.amar.org.ir/Portals/0/Files/abstract/1392/ch_hd_shr_92.pdf |archive-date=December 4, 2014 |url-status=live }}</ref> *Rural households: *IRR 10 million, monthly (FY 2013)<ref name="amar_income" />}} | unemployment = {{plainlist| *{{increaseNegative}} 8.90% (Dec 2021)<ref name="CEIC unemployment">{{cite web |url=https://www.ceicdata.com/en/indicator/iran/unemployment-rate |title=Iran Unemployment Rate |publisher=CEIC Data |access-date=July 28, 2019 }}</ref> }} | savings = 41.758% of GDP (2022)<ref name="IMF_Finance"/> | industries = [[petroleum industry|petroleum]], [[petrochemical industry|petrochemicals]], [[fertilizer]]s, [[caustic soda]], [[car manufacture]], parts, [[pharmaceutical industry|pharmaceuticals]], [[home appliance]]s, [[electronics]], [[telecommunications]], [[energy industry|energy]], [[Electrical power industry|power]], [[textile industry|textiles]], [[construction industry|construction]], [[cement]] and other [[construction material]]s, [[food processing]] (particularly sugar refining and vegetable oil production), ferrous and non-ferrous [[metal fabrication]], [[arms industry|armaments]] | exports = {{decrease}} $107.43 billion (2018)<ref name="OPEC 2019"/> | export-goods = [[Ministry of Petroleum (Iran)|petroleum]] (56%),<ref name="OPEC 2019"/> [[National Iranian Petrochemical Company|chemical and petrochemical products]], [[Iranian cars|automobiles]], [[Agriculture in Iran|fruits and nuts]], [[Persian carpet|carpets]] | export-partners = {{plainlist| *{{flag|China}} 36% *{{flag|Turkey}} 20% *{{flag|Kuwait}} 6% *{{flag|Pakistan}} 4.7% *{{flag|India}} 4.1% *{{flag|Armenia}} 3.5% *{{flag|Azerbaijan}} 2.8% *{{flag|United Arab Emirates}} 2.5% *{{flag|Germany}} 1.8% *{{flag|Oman}} 1.7% (2022)<ref name="OEC1">{{Cite web|url=https://oec.world/en/visualize/tree_map/hs92/export/irn/show/all/2022 | title=Foreign trade partners of Iran |publisher=[[The Observatory of Economic Complexity]] |access-date=13 March 2024}}</ref>}} | imports = {{increaseNegative}} $54.46 billion (2018)<ref name="CEIC 2019">{{cite web |url=https://www.ceicdata.com/en/indicator/iran/total-imports|title=Iran Total Imports, 1979 - 2018 |publisher=CEIC Data |access-date=October 5, 2019}}</ref> | import-goods = industrial raw materials and intermediate goods (46%), capital goods (35%), foodstuffs and other consumer goods (19%), technical services | import-partners = {{plainlist| *{{flag|China}} 28.4% *{{flag|United Arab Emirates}} 19.2% *{{flag|Brazil}} 12.9% *{{flag|Turkey}} 8.7% *{{flag|India}} 5.5% *{{flag|Germany}} 4.9% *{{flag|Malaysia}} 2.3% *{{flag|Italy}} 1.7% *{{flag|Oman}} 1.6% *{{flag|France}} 0.9% (2022)<ref>{{cite web |title=Foreign import trade partners of Iran |url=https://oec.world/en/visualize/tree_map/hs92/import/irn/show/all/2022 |publisher=[[The Observatory of Economic Complexity]] |access-date=13 March 2024}}</ref>}} | FDI = {{plainlist| *{{increase}} $50.33 billion (December 31, 2017, est.)<ref name="CIAWFIR"/> *Abroad: {{increase}} $5.226 billion (December 31, 2017, est.)<ref name="CIAWFIR"/> }} | current account = {{plainlist| * {{increase}} $32.031 billion (2022)<ref name="IMF_Finance">{{cite web |url=https://www.imf.org/en/Publications/WEO/weo-database/2022/October/weo-report?c=429,&s=NID_NGDP,NGSD_NGDP,LUR,GGR,GGR_NGDP,GGX,GGX_NGDP,GGXWDG,GGXWDG_NGDP,BCA,BCA_NGDPD,&sy=2022&ey=2027&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1 |title=Report for Selected Countries and Subjects: October 2022|publisher=[[International Monetary Fund]]|website=imf.org}}</ref> * 1.623% of GDP (2022)<ref name="IMF_Finance"/> }} | debt = {{plainlist| * {{decreasePositive}} [[Iranian rial|IRR]] 34,091,132 billion (2022)<ref name="IMF_Finance"/> * 34.172% of GDP (2022)<ref name="IMF_Finance"/> }} | gross external debt = {{decreasePositive}} $9.142 billion (December 2022)<ref name="Ceicdata.com">{{cite web |title=External Debt {{!}} Economic Indicators {{!}} CEIC |url=https://www.ceicdata.com/en/indicator/external-debt |website=www.ceicdata.com}}</ref> | balance = +3% (of GDP) (2022 est.)<ref name="International Monetary Fund"/> | revenue = IRR 8,298,940 billion (2022)<ref name="IMF_Finance"/> | expenses = IRR 12,487,173 billion (2022)<ref name="IMF_Finance"/> | credit = {{plainlist| *[[Economist Intelligence Unit]]: *CCC ([[Credit risk#Sovereign risk|Sovereign risk]]) *CCC ([[Currency risk]]) *CC ([[Banking in Iran|Bank sector risk]]) *CC ([[Political risk]]) *B ([[#Macroeconomic trends|Economic structure risk]]) *CC ([[Country risk]]) *(February 2014)<ref>{{Cite web |first=Toby |last=Iles |url=http://country.eiu.com/article.aspx?articleid=641634048&Country=Iran&topic=Risk&subtopic=Credit+risk&subsubtopic=Overview |url-access=subscription |title=Iran: risk assessment |website=[[Economist Intelligence Unit]] |date=March 5, 2014 |access-date=March 28, 2014 |editor=Pat Thaker}}</ref>}} | reserves = {{decrease}} $85.2 billion (December 31, 2020, est.)<ref name="International Monetary Fund">{{cite web|url=https://fred.stlouisfed.org/series/IRNFAFARUSD|title=Iran Foreign reserves|website=IMF|date=January 2000|access-date=May 20, 2020}}</ref> | cianame = iran | spelling = US }} [[Iran]] has a [[mixed economy|mixed]], [[centrally planned economy]] with a large [[public sector]].<ref name="Economist, Jan 18, 2003">"A survey of Iran: Stunted and distorted". ''The Economist'' (2003)</ref>{{Update inline|date=October 2023|reason=This statistic is half as old as the Islamic Republic itself.}} It consists of hydrocarbon, agricultural and service sectors, in addition to manufacturing and financial services,<ref>{{Cite web |title=Overview |url=https://www.worldbank.org/en/country/iran/overview |access-date=2023-12-24 |website=World Bank |language=en}}</ref> with over [[Industry of Iran|40 industries]] traded on the [[Tehran Stock Exchange]]. With 10% of the world's [[Iran's oil reserves|proven oil reserves]] and 15% of its [[Iran's Natural Gas Reserves|gas reserves]], Iran is considered an "[[energy superpower]]".<ref>{{cite book |url=https://books.google.com/books?id=CA1Cn8tDMv4C&q=iran+energy+superpower&pg=PA50 |title=Energy and the Iranian Economy |date=July 25, 2006 |publisher=US Government Printing Office |access-date=June 11, 2014 |isbn=978-1-4223-2094-5 }}</ref><ref name="EIA" /><ref>{{cite journal |title=Global Energy Geopolitics and Iran |journal=Uluslararası İlişkiler |author=Balamir Coşkun, Bezen |volume=5 |issue=20 |pages=179–201 |date=Winter 2009 |url=http://www.uidergisi.com/wp-content/uploads/2011/06/Global-Energy-Geopolitics-and-Iran.pdf |archive-url=https://web.archive.org/web/20140401102351/http://www.uidergisi.com/wp-content/uploads/2011/06/Global-Energy-Geopolitics-and-Iran.pdf |archive-date=April 1, 2014 }}</ref><ref>[https://www.latimes.com/world/middleeast/la-fg-iranian-business-20140315,0,7576988.story?page=1#axzz2xFZZWtL7 Ramin Mostaghim, Alexandra Sandels and Patrick J. McDonnell: Iran businesses await a post-sanctions bonanza]. ''[[Los Angeles Times]]'', March 15, 2014. Retrieved March 28, 2014.</ref><ref>[[Robert W. Jordan|Jordan, Robert W.]] (July 16, 2015). [https://time.com/3960122/iran-economic-superpower/ "Iran Could Become an Economic Superpower"]. ''[[Time (magazine)|Time]]''. Retrieved July 31, 2015.</ref> Nevertheless, since 2024 Iran is suffering from an [[Iranian energy crisis|energy crisis]]. A unique feature of Iran's economy is the reliance on large religious foundations called [[bonyad]]s, whose combined budgets represent more than 30 percent of [[Government of Iran#Expenditures|central government spending]].<ref name="GSO">[http://www.globalsecurity.org/military/world/iran/mjf.htm Bonyad-e Mostazafan va Janbazan Oppressed and Disabled Veterans Foundation (MJF)]. Globalsecurity.org. Retrieved February 6, 2011.</ref> In 2007, the [[Iranian subsidy reform plan]] introduced price controls and subsidies particularly on food and [[Energy in Iran|energy]].<ref>{{cite news |year = 2007 |url = http://www.heraldextra.com/news/u-s-targets-iran-s-vulnerable-oil/article_d46afbcb-9e1a-5c58-8fde-008972b21e11.html |title = U.S. targets Iran's vulnerable oil |newspaper = Los Angeles Times |access-date = July 17, 2007 |archive-date = September 3, 2017 |archive-url = https://web.archive.org/web/20170903031335/http://www.heraldextra.com/news/u-s-targets-iran-s-vulnerable-oil/article_d46afbcb-9e1a-5c58-8fde-008972b21e11.html }}</ref><ref name="Subsidy">{{cite news |url = http://www.iran-daily.com/1387/3111/html/economy.htm |archive-url = https://web.archive.org/web/20090619035938/http://iran-daily.com/1387/3111/html/economy.htm |title = Energy subsidies reach $84b |newspaper = [[Iran (newspaper)|Iran Daily]] |date = April 27, 2008 |archive-date = June 19, 2009 }}</ref> [[Smuggling in Iran|Contraband]], administrative controls, [[Corruption in Iran|widespread corruption]],<ref>[http://payvand.com/blog/blog/2009/11/18/iran-falls-to-168-in-corruption-perception-index-2009/ Iran falls to 168 in Corruption Perception Index] {{webarchive |url=https://web.archive.org/web/20091122220244/http://payvand.com/blog/blog/2009/11/18/iran-falls-to-168-in-corruption-perception-index-2009/ |date=November 22, 2009 }}. Transparency International (2009). Retrieved November 19, 2009.</ref><ref>[https://archive.today/20130615230926/http://www.freedomhouse.org/template.cfm?page=140&edition=8&ccrcountry=158§ion=84&ccrpage=37Iran Country Report] . Freedom House (2007). Retrieved October 29, 2009.</ref> and other restrictive factors undermine [[Privatization in Iran|private sector-led growth]].<ref name="CIA">{{cite web|url=https://www.cia.gov/the-world-factbook/countries/iran/ |title=World Factbook: Iran's entry |access-date=November 6, 2009 |year=2008 |publisher=[[Central Intelligence Agency]] }}{{PD-notice}}</ref> The government's 20-year vision involved market-based reforms reflected in a five-year development plan, 2016 to 2021, focusing on "a resilient economy" and "[[Science in Iran|progress in science and technology]]".<ref name="IRI-WB-2020">{{cite web |title=Islamic Republic of Iran. Overview |url=https://www.worldbank.org/en/country/iran/overview |website=World Bank |access-date=June 12, 2020 |date=May 1, 2020}}</ref> Most of Iran's exports are [[Petroleum industry in Iran|oil and gas]], accounting for a majority of [[Government of Iran#Revenues|government revenue]] in 2010.<ref>{{Cite news |title=Iran threatens new war games in the oil lanes of the Gulf |url=https://www.telegraph.co.uk/news/worldnews/middleeast/iran/8996819/Iran-threatens-new-war-games-in-the-oil-lanes-of-the-Gulf.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/news/worldnews/middleeast/iran/8996819/Iran-threatens-new-war-games-in-the-oil-lanes-of-the-Gulf.html |archive-date=January 12, 2022 |url-access=subscription |url-status=live |newspaper=The Telegraph |date=January 6, 2012 |access-date=January 24, 2012}}{{cbignore}}</ref> In March 2022, the Iranian parliament under the then new president [[Ebrahim Raisi]] decided to eliminate a major subsidy for importing food, medicines and animal feed, valued at $15 billion in 2021.<ref name="ag2022">{{cite news |title=Iran Signs Deal With Russia To Import 20 Million Tons Of Basic Goods |url=https://www.iranintl.com/en/202203209997 |publisher=Volant Media UK Limited |date=20 March 2022}}</ref> Also in March 2022, 20 billion tons of basic goods exports [[Iran–Russia relations|from Russia]] including vegetable oil, wheat, barley and corn were agreed.<ref name=ag2022/> Iran's [[education in Iran|educated population]], [[List of countries by Human Development Index#High human development|high human development]], constrained economy and insufficient [[Foreign Direct Investment in Iran|foreign and domestic investment]] prompted an increasing number of [[Iranian peoples|Iranians]] to seek overseas employment, resulting in a significant "[[Iran's brain drain|brain drain]]".<ref name="CIA"/><ref name="BBC drain">{{cite news |title = Huge cost of Iranian brain drain |author = Frances Harrison |work = BBC News |date = January 8, 2007 |url = http://news.bbc.co.uk/2/hi/middle_east/6240287.stm }}</ref><ref name=autogenerated2>{{cite book |last = Gheissari |first = Ali |title = Contemporary Iran: Economy, Society, Politics |publisher = Oxford University Press |year = 2009 |location = USA |pages = 3–4 (Paperback edition) |isbn = 978-0-19-537849-8 }}</ref><ref name="UNDP2014">{{cite web |url = http://hdr.undp.org/sites/default/files/hdr14-report-en-1.pdf|title = Human Development Report 2014 – "Sustaining Human Progress: Reducing Vulnerabilities and Building Resilience" |publisher = [[Human Development Report|HDRO (Human Development Report Office)]] [[United Nations Development Programme]] |access-date = August 8, 2014 }}</ref> However, in 2015, Iran and the [[P5+1]] reached a [[Joint Comprehensive Plan of Action|deal on the nuclear program]] which removed most [[sanctions against Iran|international sanctions]]. Consequently, for a short period, [[Tourism in Iran|the tourism industry]] significantly improved and the inflation of the country was decreased,{{Citation needed|date=March 2022}} though [[United States withdrawal from the Joint Comprehensive Plan of Action|US withdrawal from the JCPOA]] in 2018 hindered the growth of the economy again and increased inflation.{{Citation needed|date=March 2022}} GDP contracted in 2018 and 2019, but a modest rebound was expected in 2020.<ref name="Nordea-2020"/> Challenges include a [[COVID-19 pandemic in Iran|COVID-19 outbreak]] starting in February 2020, [[US sanctions against Iran|US sanctions]] reimposed in mid-2018, increased unemployment due to the sanctions,<ref name="Nordea-2020"/> inflation,<ref name="IRI-WB-2020"/><ref name="Nordea-2020"/> [[Food inflation in Iran|food inflation]],<ref>{{Cite web |title=World Bank Open Data |url=https://data.worldbank.org/indicator/AG.PRD.FOOD.XD?locations=IR |access-date=2024-12-16 |website=World Bank Open Data}}</ref> a "chronically weak and undercapitalized" [[Banking in Iran|banking system]],<ref name="Nordea-2020"/><ref name="theodora"/> and an "anemic" private sector,<ref name="Nordea-2020"/> and [[Wealth of Khamenei family|corruption]].[https://iranwire.com/en/khameneicom/103191-fact-check-are-ali-khameneis-living-standards-below-average/ Fact Check: Are Ali Khamenei's Living Standards 'Below Average'?] Iran's currency, the [[Iranian rial]], has fallen,<ref name="6 charts bbc"/> and Iran has a relatively low rating in "[[Economic Freedom]]",<ref name="Heritage-2020"/><ref name="Nordea-2020"/> and "[[ease of doing business]]".<ref name="EoDB"/> {{toclimit|3}} == History == {{Main|Economic history of Iran}} {{Further|Agriculture in Iran#History|Central Bank of Iran#History|Petroleum industry in Iran#History|History of Iran}} [[File:Achaemenid coin daric 420BC front.jpg|150px|left|thumb|Persian [[Achaemenid]] [[gold coin]], circa 490 BC]] In 546 BC, [[Croesus]] of [[Lydia]] was defeated and captured by the [[Persia]]ns, who then adopted [[gold]] as the main metal for their coins.<ref name="history">{{cite web |title = Gold coins{{Snd}} A Brief History |url = http://www.taxfreegold.co.uk/goldcoinsbriefhistory.html |access-date = February 16, 2014 }}</ref><ref>{{cite web |title = Monetary Episodes from History |url = http://www.galmarley.com/framesets/fs_monetary_history_faqs.htm |access-date = February 16, 2014 |archive-date = May 16, 2011 |archive-url = https://web.archive.org/web/20110516071932/http://www.galmarley.com/framesets/fs_monetary_history_faqs.htm }}</ref> There are accounts in the biblical [[Book of Esther]] of dispatches being sent from Susa to provinces as far out as India and the [[Kingdom of Kush]] during the reign of [[Xerxes I of Persia|Xerxes the Great]] (485–465 BC). By the time of [[Herodotus]] (c. 475 BC), the [[Royal Road]] of the [[Persian Empire]] ran some 2,857 km from the city of [[Susa]] on the Karun (250 km east of the Tigris) to the port of Smyrna (modern [[İzmir]] in [[Turkey]]) on the [[Aegean Sea]]. Modern [[agriculture in Iran]] dates back to the 1850s when [[Amir Kabir]] undertook a number of changes to the traditional agricultural system. Such changes included importing modified seeds and signing collaboration contracts with other countries. [[Lazar Polyakov|Polyakov]]'s ''Bank Esteqrazi'' was bought in 1898 by the [[Imperial Russia|Tsarist government of Russia]], and later passed into the hands of the Iranian government by a contract in 1920.<ref name="Reuter">{{cite web |url = http://www.parstimes.com/history/banking_history.html |title = History of Banking in Iran |publisher = Parstimes.com |access-date = November 11, 2012 }}</ref> The bank continued its activities under the name of ''Bank Iran'' until 1933 when incorporating the newly founded [[Keshavarzi Bank]].<ref name="Reuter" /><ref name="LOC5" /> The [[Imperial Bank of Persia]] was established in 1885, with offices in all major cities of Persia.<ref name="Reuter" /> [[Reza Shah Pahlavi]] (r. 1925–41) improved the country's overall infrastructure, implemented educational reform, campaigned against foreign influence, reformed the legal system, and introduced modern industries. During this time, Iran experienced a period of social change, economic development, and relative political stability.<ref name="LOC5" /> Reza Shah Pahlavi, who abdicated in 1941, was succeeded by his son, [[Mohammad Reza Shah Pahlavi]] (r. 1941–79). No fundamental change occurred in the [[Economic history of Iran#Pahlavi Era (1925–79)|economy of Iran during World War II]] and the years immediately following. Between 1954 and 1960 a rapid increase in oil revenues and sustained foreign aid led to greater investment and fast-paced economic growth, primarily in the government sector. Subsequently, inflation increased, the value of the national currency, the rial, depreciated, and a foreign-trade deficit developed. Economic policies implemented to combat these problems led to declines in the rates of nominal economic growth and per capita income by 1961.<ref name="LOC5" /> Prior to 1979, Iran developed rapidly. Traditionally agricultural, by the 1970s, the country had undergone significant industrialization and modernization.<ref name="documentary"/><ref name="documentary2"/> The pace slowed by 1978 as [[flight of capital|capital flight]] reached $30 to $40 billion 1980-US dollars just before the [[Iranian Revolution|revolution]].<ref name="Migration">[https://www.migrationpolicy.org/article/iran-vast-diaspora-abroad-and-millions-refugees-home Shirin Hakimzadeh. Iran: A Vast Diaspora Abroad and Millions of Refugees at Home]. Migration information source (2006). Retrieved July 18, 2009.</ref> Following the nationalizations in 1979 and the outbreak of the [[Iran–Iraq War]], over 80% of the economy came under government control.<ref name="GSO" /> The eight-year war with Iraq claimed at least 300,000 Iranian lives and injured more than 500,000. The cost of the war to Iran's economy was some $500 billion.<ref>{{cite encyclopedia |encyclopedia = Microsoft Encarta |title = Iran-Iraq war |year = 2008 }}</ref><ref>[http://www.globalsecurity.org/military/world/war/iran-iraq.htm Iran–Iraq war (1980–1988)]. Globalsecurity.org. Retrieved October 21, 2009.</ref> After hostilities ceased in 1988, the government tried to develop the country's [[Communications in Iran|communication]], [[Transport in Iran|transportation]], manufacturing, [[Health care in Iran|health care]], [[Education in Iran|education]] and energy sectors, including its prospective [[Iran's Nuclear Program|nuclear power facilities]], and began integrating its communication and transportation systems with those of neighboring states.<ref>{{cite web |url = http://www.irvl.net/six_snapshots.htm |archive-url = https://web.archive.org/web/20070927023440/http://www.irvl.net/six_snapshots.htm |archive-date = September 27, 2007 |date = February 2001 |title = Iranian Economy in Six Snapshots |publisher = Payam-e Emruz; Economic, Social, Cultural (Monthly) }}</ref> [[Government of Iran|The government]]'s long-term objectives since the revolution were stated as [[independence|economic independence]], [[full employment]], and a comfortable standard of living but [[demographics of Iran|Iran's population]] more than doubled between 1980 and 2000 and its median age declined.<ref name="Dr. Gheissari">{{cite book |last = Gheissari |first = Ali |title = Contemporary Iran: Economy, Society, Politics |publisher = Oxford University Press |year = 2009 |location = USA |pages = 7–8 (Paperback edition) |isbn = 978-0-19-537849-8 }}</ref> Although many Iranians are farmers, agricultural production has consistently fallen since the 1960s. By the late 1990s, Iran imported much of its food. At that time, economic hardship in the countryside resulted in many [[Urbanization|people moving to cities]].<ref name="Migration" /> <gallery> File:Provinces of Iran by contribution to national GDP.svg|The [[Provinces of Iran]] by their contribution to national GDP, 2014 File:Socio-eco expenditures IRAN.jpg|[[Government of Iran#Expenditures|Socioeconomic expenditures]], 2004 File:GDP_per_capita_development_in_Iran.svg|Historical GDP per capita development in Iran, 1820–2018 File:Irecosector.gif|[[#Sectors|Economic sectors]], 2002 File:Inflation Iran CPI.jpg|[[Central Bank of Iran#Inflation and monetary policy|Inflation rate]], 1980–2010 File:Iran market liquidity.png|[[Central Bank of Iran#Money supply|Market liquidity]], 2012 File:IRAN CPI broad money FXreserves.jpg|[[Consumer Price Index|CPI]], [[Central Bank of Iran#Money supply|broad money]] and [[Central Bank of Iran#Foreign reserves|foreign exchange reserves]], 2000–2011 File:USD-IRR exchange rate.JPG|[[US dollar]]/[[Iranian rial]] exchange rate, 2003–2014 est. File:Debt service-Iran.png|[[Central Bank of Iran#Foreign exposure and transactions|Debt service]], 1980–2000 File:IRANbalanceofpayment.jpg|[[Balance of payment]], 2003–2007 File:TEPIXvsDJIA.png|[[Tehran Stock Exchange#Indices|TEPIX]] vs [[DJIA]] and [[oil prices]], 2000–2009 File:Oil Production and Consumption.gif|[[Petroleum industry in Iran|Oil production and consumption]], 1977–2010 File:IRAN oil&gas production.jpg|[[Petroleum industry in Iran|Oil and gas production]], 1970–2030 est. </gallery> == Macroeconomic trends == {{See also|Demographics of Iran|Science and technology in Iran|International rankings of Iran}} [[Science in Iran|Iran's national science]] budget in 2005 was about $900 million, roughly equivalent to the 1990 figure.<ref>[http://www.sciencemag.org/cgi/content/full/309/5742/1802?maxtoshow=&HITS=10&hits=10&RESULTFORMAT=&fulltext=iran&searchid=1138556046976_3291&FIRSTINDEX=0&journalcode=sci "Science in Iran: An Islamic Science Revolution?"]. ''[[Science (journal)|Science]]''. September 16, 2005 (subscription required). Retrieved November 15, 2008.</ref> By early 2000, Iran allocated around 0.4% of its GDP to [[Science in Iran#Research expenditure|research and development]], ranking the country behind the world average of 1.4%.<ref name="autogenerated1">Reza Malekzadeh, [[Azarakhsh Mokri]], Pejman Azarmina: [http://www.ams.ac.ir/AIM/0141/malekzadeh0141.html "Medical Science and Research in Iran"] {{Webarchive|url=https://web.archive.org/web/20170517140630/http://www.ams.ac.ir/AIM/0141/malekzadeh0141.html |date=May 17, 2017 }}. Academy of Medical Sciences of Iran. Retrieved December 4, 2008.</ref> In 2009 the ratio of research to GDP was 0.87% against the government's medium-term target of 2.5%.<ref name="Ministry of Commerce">[https://web.archive.org/web/20130310232210/http://www.irantradelaw.com/wp-content/uploads/2010/03/Irans-Foreign-Trade-Regime-Report.pdf – The foreign trade regime of the Islamic Republic of Iran]. [[Ministry of Commerce (Iran)]] (2009). Retrieved April 8, 2010.</ref> Iran ranked first in scientific growth in the world in 2011 and 17th in science production in 2012.{{citation needed|date=November 2020}} Iran has a broad and diversified [[Industry of Iran|industrial base]].<ref>[http://www.ft.com/cms/s/0/7de6a358-b798-11e4-8807-00144feab7de.html#axzz47HQajJna Judith Evans: Fund managers on the Iranian frontier]. ''Financial Times'', March 1, 2015. Retrieved April 29, 2016.</ref> According to ''[[The Economist]]'', Iran ranked 39th in a list of industrialized nations, producing $23 billion of industrial products in 2008.<ref>{{cite web|url=http://www.iran-daily.com/1388/3410/html/economy.htm |title=Iran 39th Industrialized Country |access-date=May 1, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20090630090651/http://www.iran-daily.com/1388/3410/html/economy.htm |archive-date=June 30, 2009 }}. ''The Economist'', May 27, 2009.</ref> Between 2008 and 2009 Iran moved to 28th from 69th place in annual industrial production growth because of its relative isolation from the [[2008 financial crisis]].<ref>{{cite web |url = http://old.tehrantimes.com/index_View.asp?code=215089 |title = Iran advances 41 places in industrial production |work = Tehran Times |date = February 28, 2010 |access-date = May 10, 2010 |archive-url = https://web.archive.org/web/20120820025409/http://old.tehrantimes.com/index_View.asp?code=215089 |archive-date = August 20, 2012 }}</ref> In the early 21st century, the service sector was Iran's largest, followed by industry (mining and manufacturing) and agriculture. In 2008, Iran's GDP was estimated at $382.3 billion ($842 billion PPP), or $5,470 per capita ($12,800 PPP).<ref name="CIA"/> In 2010, the nominal GDP was projected to double in the next five years.<ref>[http://www.payvand.com/news/10/apr/1042.html Iran's GDP to grow by $55.5B] {{Webarchive|url=https://web.archive.org/web/20200115020156/http://www.payvand.com/news/10/apr/1042.html |date=January 15, 2020 }}. ''The Economist'', April 6, 2010. Retrieved April 7, 2010.</ref> Real GDP growth was expected to average 2.2% a year in 2012–16, insufficient to reduce the unemployment rate.<ref name=EIU5>[http://country.eiu.com/article.aspx?articleid=648671049&Country=Iran&topic=Summary&subtopic=At+a+glance&subsubtopic=Iran+at+a+glance%3A+2012-16 Iran at a glance]. [[Economist Intelligence Unit]] (subscription required), December 12, 2011. Retrieved January 8, 2012.</ref> Furthermore, [[sanctions against Iran|international sanctions have damaged the economy]] by reducing [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil exports]] by half, before recovering in 2016.<ref name=ABC1 /><ref>[http://www.payvand.com/news/12/dec/1232.html Economic survey reveals Iran's slowdown] {{Webarchive|url=https://web.archive.org/web/20200112192617/http://www.payvand.com/news/12/dec/1232.html |date=January 12, 2020 }}. Radio Zamaneh, December 26, 2012. Retrieved February 3, 2013.</ref> The [[Iranian rial]] lost more than half of its value in 2012, directing Iran to [[import substitution industrialization]] and a [[resistive economy]].<ref name=ABC1>[https://abcnews.go.com/International/wireStory/iran-leader-unveils-economy-resistance-22576504 Ali Akbar Dareini: Iran Leader Unveils 'Economy of Resistance'.] {{Webarchive|url=https://web.archive.org/web/20140227181859/https://abcnews.go.com/International/wireStory/iran-leader-unveils-economy-resistance-22576504 |date=February 27, 2014 }} Associated Press, February 19, 2014. Retrieved February 19, 2014.</ref><ref>[http://www.ft.com/intl/cms/s/0/55fb9ece-38c5-11e2-981c-00144feabdc0.html#axzz2JrYnyNBf Javier Blas: Sanctions take heavy toll on Iran]. ''Financial Times'', November 28, 2012 (subscription required). Retrieved February 3, 2013.</ref> According to the [[International Monetary Fund]], Iran is a "[[transition economy]]", i.e., changing from a planned to a market economy.<ref name="imf-iran">{{cite book |url = http://www.imf.org/External/Pubs/NFT/2007/iran/market/market.pdf |title = Islamic Republic of Iran: Managing the Transition to a Market Economy |last1 = Jbili |first1 = A. |last2 = Kramarenko |first2 = V. |last3 = Bailén |first3 = J. M. |publisher = The International Monetary Fund |page = xii |date = March 1, 2007 |access-date = February 5, 2011 |isbn = 978-1-58906-441-6 }}</ref> In 2008, the [[United Nations]] classified Iran's economy as semi-developed.<ref name="Encarta: Iran's entry" /> In 2014, Iran ranked 83rd in the [[World Economic Forum]]'s analysis of the [[Global Competitiveness Report|global competitiveness of 144 countries]].<ref>[http://www3.weforum.org/docs/WEF_GlobalCompetitivenessReport_2014-15.pdf The Global Competitiveness Report (2014–2015)]. [[World Economic Forum]], August 2014. Retrieved September 5, 2014.</ref><ref>[http://www.turquoisepartners.com/iraninvestment/IIM-Sep13.pdf Iran Investment Monthly.] {{Webarchive|url=https://web.archive.org/web/20131209205824/http://www.turquoisepartners.com/iraninvestment/IIM-Sep13.pdf |date=December 9, 2013 }} [[Turquoise Partners]], September 2013. Retrieved December 6, 2013.</ref><ref name="WEF">[http://www.turquoisepartners.com/iraninvestment/IIM-Sep13.pdf Iran ranks 69th out of 139 in global competitiveness] {{Webarchive|url=https://web.archive.org/web/20131209205824/http://www.turquoisepartners.com/iraninvestment/IIM-Sep13.pdf |date=December 9, 2013 }}. ''[[Global Competitiveness Report]]'', [[World Economic Forum]] (2010). Retrieved September 18, 2010.</ref> Political, policy and currency stability are regarded as the most problematic factors in doing business in Iran. Difficulty in [[Banking in Iran|accessing financing]] is also a major concern, especially for [[Industry of Iran#Small and medium enterprises|small and medium enterprises]]. Most of Iran's financial resources are directed at trading, [[Smuggling in Iran|smuggling]] and speculation instead of production and manufacturing.{{citation needed|date=November 2020}} In 2008, according to [[Goldman Sachs]], Iran has the potential to become one of the world's largest economies in the 21st century.<ref name="Goldman Sachs">[http://www.chicagogsb.edu/alumni/clubs/pakistan/docs/next11dream-march%20%2707-goldmansachs.pdf "The N-11: More Than an Acronym"] {{webarchive |url=https://web.archive.org/web/20080911041502/http://www.chicagogsb.edu/alumni/clubs/pakistan/docs/next11dream-march%20%2707-goldmansachs.pdf |date=September 11, 2008 }}. [[Goldman Sachs]], March 28, 2007. Retrieved February 6, 2011.</ref><ref>[http://www.zawya.com/Story.cfm/sidZAWYA20101026044134/Iran%20Ranks%203rd%20Among%20Newly-Emerged%20Economies%20 Iran Ranks 3rd Among Newly-Emerged Economies] {{webarchive |url=https://web.archive.org/web/20110617075656/http://www.zawya.com/Story.cfm/sidZAWYA20101026044134/Iran%20Ranks%203rd%20Among%20Newly-Emerged%20Economies%20 |date=June 17, 2011 }}. ''Zawaya'', October 26, 2010. Retrieved October 26, 2010.</ref> In 2014, Iranian President [[Hassan Rouhani]] stated that Iran has the potential to become one of the [[List of countries by GDP (PPP)|ten largest economies]] within the next 30 years.<ref>[https://www.cnbc.com/2014/01/23/irans-relations-with-europe-will-be-normalized-rouhani.html Iran eyes 'constructive engagement'—but not with Israel]. [[CNBC]], January 23, 2014. Retrieved February 1, 2014.</ref> One major problem often cited by [[Industry of Iran|Iranian industrialists]] is that the government is [[Taxation in Iran#Protectionism and dumping|not supporting them by authorizing imports of similar parts or products into the country]], undermining their activity and domestic market. This is partly [[corruption in Iran|due to corrupt interests]] inside the government and mismanagement.{{citation needed|date=July 2021}} <div class="floatright"> {| cellpadding="2" cellspacing="0" |- | <timeline> ImageSize = width:450 height:200 PlotArea = left:90 bottom:30 top:10 right:0 AlignBars = justify DateFormat = yyyy Period = from:0 till:65000 TimeAxis = orientation:horizontal Colors = id:gray value:gray(0.5) id:line1 value:gray(0.9) id:line2 value:gray(0.7) ScaleMajor = unit:year increment:20000 start:0 gridcolor:line2 ScaleMinor = unit:year increment:10000 start:0 gridcolor:line1 BarData = bar:first text:1990-2008 bar:second text:2009 bar:third text:2010 bar:fourth text:2011 bar:fifth text:2012 bar:sixth text: 2013 bar:seventh text: 2014 bar:eighth text: 2015 bar:ninth text: 2016 bar:tenth text: 2017 bar:eleventh text: 2018 PlotData= color:yellow width:10 bar:first from:start till:60979 text:60,979 color:tan1 width:10 bar:second from:start till:15000 text:15,000 bar:third from:start till:18600 text:18,600 bar:fourth from:start till:33000 text:33,000 bar:fifth from:start till:34155 text:34,155 bar:sixth from:start till:30947 text:30,947 bar:seventh from:start till:31410 text:31,410 bar:eighth from:start till:33931 text:33,931 bar:ninth from:start till:40736 text:40,736 bar:tenth from:start till:47901 text:47,901 bar:eleventh from:start till:52183 text:52,183 TextData = pos:(4,3) textcolor:gray fontsize:S text:Articles published in major international journals </timeline> |- | style="text-align:left; font-size:100%;" |[[#Science in modern Iran|Scientific growth in Iran]] |} </div> {{ #invoke:Chart | bar chart | width = 400 | height = 300 | group 1= 617 : 646 : 704 : 781 : 848 : 905 : 985 : 1076 : 1114 : 1148 : 1239 : 1314 : 1250 : 1244 : 1284 : 1336 | group 2= 9666 : 9999 : 10726 : 11607 : 12415 : 13036 : 13977 : 15095 : 15429 : 15679 : 16664 : 17488 : 16447 : 16165 : 16463 : 16918 | colors = red : green | scale per group = 1 | group names = GDP, PPP, million (current international $) : GDP per capita, PPP (current international $) | x legends = 2000::::2004::::2008::::2012:::2015 }} [[File:Iran Population (1880-2016).jpg|thumb|300px|right|Changes in [[population of Iran]]]] {|style="margin:1em; background:#f9f9f9; border:1px #aaa solid; border-collapse:collapse; font-size:90%;" |- style="background:lightblue;" ! Year <br /> (Source: [[International Monetary Fund|IMF]])<ref name="IMF">[http://www.imf.org/external/pubs/ft/weo/2014/02/weodata/weorept.aspx?sy=1980&ey=2015&scsm=1&ssd=1&sort=country&ds=.&br=1&pr1.x=54&pr1.y=2&c=429&s=NGDP%2CPPPPC%2CPPPEX%2CPCPI%2CLP%2CBCA&grp=0&a= World Economic Outlook Database (Iran)]. International Monetary Fund (October 2014). Retrieved February 16, 2015.</ref> ||[[Gross Domestic Product|GDP]], current prices <br />(billions [[Iranian rial|IRR]])|| Implied [[Purchasing Power Parity|PPP]]<br /> conversion rate <br /> (USD/IRR)|| [[GDP per capita]], PPP <br />(current [[international dollar]])|| [[Inflation]] index <br />(average [[Consumer Price Index|CPI]]) <br /> (2011/2012=100)|| [[Current account (balance of payments)|Current account balance]]<br />(billions US dollars) || Population <br />(million persons) |- | 1980 || style="text-align:right;"|6,622 ||align="right"| 40 ||align="right"| 4,267 ||align="right"| 0.5 || style="text-align:right;"| -3.6 ||style="text-align:center;"| 38 |- | 1985 ||align="right"| 16,556 ||align="right"| 53 ||align="right"| 6,469 ||align="right"| 0.9 ||align="right"| -0.9 || style="text-align:center;"| 48 |- | 1990 ||align="right"| 35,315 ||align="right"| 101 ||align="right"| 6,410 ||align="right"| 2.5 || style="text-align:right;"| -2.7 ||style="text-align:center;"| 55 |- | 1995 ||align="right"| 185,928 ||align="right"| 399 ||align="right"| 7,265 ||align="right"| 9 ||align="right"| 3.4 || style="text-align:center;"| 64 |- | 2000 ||align="right"| 580,473 ||align="right"| 940 ||align="right"| 9,666 ||align="right"| 21 ||align="right"| 12.5|| style="text-align:center;"| 64 |- | 2005 ||align="right"| 1,831,739 ||align="right"| 2,025 ||align="right"| 13,036 ||align="right"| 40||align="right"| 15.4 || style="text-align:center;"| 69 |- | 2010 ||align="right"| 4,333,088 ||align="right"| 3,498 ||align="right"| 16,664 ||align="right"| 82 ||align="right"| 27.3|| style="text-align:center;"| 74 |- | 2015 (est.) ||align="right"| 13,077,142 ||align="right"| 9,788 ||align="right"| 16,918 ||align="right"| 253 ||align="right"| 6.9 || style="text-align:center;"| 79 |} === Reform plan === {{See also|Iranian targeted subsidy plan}} Expansion of [[healthcare in Iran|public healthcare]] and [[foreign relations of Iran|international relations]] are the other main objectives of the fifth plan, an ambitious [[Iranian Economic Reform Plan|series of measures]] that include [[Iranian targeted subsidy plan|subsidy reform]], [[Banking in Iran|banking recapitalization]], [[Iranian rial|currency]], [[Taxation in Iran|taxation]], [[Iranian Customs|customs]], [[Construction in Iran|construction]], employment, nationwide goods and services distribution, social justice and productivity.<ref>[https://www.princeton.edu/irandataportal/laws/labor-civilsociety/targeting-subsidies/full-text/ Full Text of the Law for the Targeting of Subsidies] {{Dead link|date=November 2016}}. [[Princeton University]], November 2009. Retrieved February 16, 2016.</ref> The intent is to make the country self-sufficient by 2015 and replace the payment of $100 billion in subsidies annually with targeted [[social assistance]].<ref name="csmonitor1">{{cite web |url = http://www.csmonitor.com/World/Middle-East/2010/0430/Why-Iran-s-Ahmadinejad-is-pushing-to-cut-popular-government-subsidies |author = Roshanak Taghavi |title = Why Iran's Ahmadinejad is pushing to cut popular government subsidies |publisher = CSMonitor.com |date = April 30, 2010 |access-date = May 5, 2010 }}</ref><ref name="Turq6">[http://www.turquoisepartners.com/iraninvestment/IIM-Jan11.pdf ''Iran Investment Monthly''] {{Webarchive|url=https://web.archive.org/web/20110809205723/http://www.turquoisepartners.com/iraninvestment/IIM-Jan11.pdf |date=August 9, 2011 }}. Turquoise Partners (January 2011). Retrieved January 31, 2011.</ref><ref>{{cite web|url=http://go.worldbank.org/KQD2RP3RX0 |archive-url=http://webarchive.loc.gov/all/20110210062245/http://go.worldbank.org/KQD2RP3RX0 |archive-date=February 10, 2011 |title=Iran{{Snd}} Country Brief |publisher=World Bank |date=September 2010 |access-date=January 30, 2010 }}</ref><ref>[http://www.atiehbahar.com/Resource.aspx?n=1000039 Planned Economic Reforms] {{webarchive |url=https://web.archive.org/web/20110513034614/http://www.atiehbahar.com/Resource.aspx?n=1000039 |date=May 13, 2011 }}. Atieh Bahar (2008). Retrieved May 24, 2009.</ref> These reforms target Iran's major sources of inefficiency and [[distortion (economics)|price distortion]] and are likely to lead to major restructuring of almost all economic sectors.<ref name="Turq6" /> By [[Iranian targeted subsidy plan|removing energy subsidies]], Iran intends to make its industries more efficient and competitive.<ref>[http://www.imf.org/external/pubs/ft/survey/so/2010/INT092810A.htm Iran to Cut Oil Subsidies in Energy Reform]. International Monetary Fund, September 28, 2010. Retrieved October 13, 2010.</ref> By 2016, one third of Iran's economic growth is expected to originate from productivity improvement. Energy subsidies left the economy as one of the world's least energy-efficient, with [[energy intensity]] three times the global average and 2.5 times higher than the Middle Eastern average.<ref name="RFE">Reza Taghizadeh (June 9, 2010): [http://www.rferl.org/content/Sanctions_And_Irans_Achilles_Heel/2066744.html Sanctions And Iran's Achilles Heel]. ''Radio Free Europe''. Retrieved October 13, 2010.</ref> Notwithstanding its own issues, [[Banking in Iran|the banking sector]] is seen as a potential hedge against the removal of subsidies, as the plan is not expected to directly impact banks.<ref>[http://www.turquoisepartners.com/iraninvestment/IIM-Oct10.pdf ''Iran Investment Monthly''] {{Webarchive|url=https://web.archive.org/web/20101214141840/http://www.turquoisepartners.com/iraninvestment/IIM-Oct10.pdf |date=December 14, 2010 }}. Turquoise Partners (October 2010). Retrieved October 30, 2010.</ref> == National planning == {{See also|Management and Planning Organization of Iran|Environment of Iran}} [[Politics of Iran#Budget|Iran's budget]] is established by the [[Management and Planning Organization of Iran]] and proposed by [[Government of Iran|the government]] to the parliament before [[Iranian calendar|the year's end]]. Following approval of the budget by [[Majlis of Iran|Majlis]], the [[Central Bank of Iran|central bank]] presents a detailed [[Central Bank of Iran#Inflation and monetary policy|monetary and credit policy]] to the [[Central Bank of Iran#Money and Credit Council|Money and Credit Council]] (MCC) for approval. Thereafter, major elements of these policies are incorporated into the five-year economic development plan.<ref name="LOC5">{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/195 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |page = [https://archive.org/details/irancountrystudy00curt_2/page/195 195] |isbn = 978-0-8444-1187-3 }}</ref> The plan is part of "Vision 2025", a strategy for long-term sustainable growth.<ref>{{Cite book |last1 = Ayse |first1 = Valentine |url = http://www.investiniran.ir/en/filepool/26?redirectpage=%2fen%2febook |last2 = Nash |first2 = Jason John |last3 = Leland |first3 = Rice |title = The Business Year 2013: Iran |place = London, U.K. |publisher = The Business Year |date = January 2013 |page = 41 |isbn = 978-1-908180-11-7 |access-date = March 14, 2014 |archive-url = https://web.archive.org/web/20161227193349/http://www.investiniran.ir/en/filepool/26?redirectpage=%2Fen%2Febook |archive-date = December 27, 2016 }}</ref> {| style="margin:1em; background:#f9f9f9; border:1px #aaa solid; border-collapse:collapse; font-size:90%; float:left;" |- style="background:lightblue;" |+ Fifth Economic Development Plan (2010–15) ! Item!! 2010 (achieved) !!2010–15 (target) |- | [[International rankings of Iran#Economy|GDP world ranking]] || 18th [[List of countries by GDP (PPP)|largest economy by PPP]]<ref name="IMF2">[http://www.imf.org/external/pubs/ft/weo/2010/02/weodata/weorept.aspx?sy=2009&ey=2009&scsm=1&ssd=1&sort=country&ds=.&br=1&c=512,941,914,446,612,666,614,668,311,672,213,946,911,137,193,962,122,674,912,676,313,548,419,556,513,678,316,181,913,682,124,684,339,273,638,921,514,948,218,943,963,686,616,688,223,518,516,728,918,558,748,138,618,196,522,278,622,692,156,694,624,142,626,449,628,564,228,283,924,853,233,288,632,293,636,566,634,964,238,182,662,453,960,968,423,922,935,714,128,862,611,716,321,456,243,722,248,942,469,718,253,724,642,576,643,936,939,961,644,813,819,199,172,184,132,524,646,361,648,362,915,364,134,732,652,366,174,734,328,144,258,146,656,463,654,528,336,923,263,738,268,578,532,537,944,742,176,866,534,369,536,744,429,186,433,925,178,746,436,926,136,466,343,112,158,111,439,298,916,927,664,846,826,299,542,582,967,474,443,754,917,698,544&s=PPPGDP&grp=0&a=&pr.x=64&pr.y=7 World Economic Outlook Database – Report for Selected Countries and Subjects]. International Monetary Fund (2009). Retrieved November 29, 2010.</ref> ||12th in 2015{{citation needed|date=July 2021}} |- | [[Central Bank of Iran#GDP growth|Annual growth rate]] || 2.6% || 8% on average (based on $1.1 trillion domestic and [[Foreign Direct Investment in Iran|FDI]]);<ref name="AFP">[http://www.france24.com/en/20100111-iran-five-year-plan-targets-annual-8-growth?quicktabs_1=0 Iran five-year plan targets annual 8% growth] {{Dead link|date=November 2016}}. Agence France Presse, January 11, 2010. Retrieved July 23, 2010.</ref><ref>[http://tehrantimes.com/economy-and-business/97131-iran-approves-16b-of-foreign-investment-plans Iran approves $1.6b of foreign investment plans] {{webarchive |url=https://web.archive.org/web/20120425075105/http://tehrantimes.com/economy-and-business/97131-iran-approves-16b-of-foreign-investment-plans |date=April 25, 2012 }}. ''Tehran Times'', April 21, 2012. Retrieved April 21, 2012.</ref> [http://www.businessmonitor.com/ BMI] {{Webarchive|url=https://web.archive.org/web/20110131000540/http://www.businessmonitor.com/ |date=January 31, 2011 }} forecast: 3.6% on average (2009–14)<ref>[http://www.researchandmarkets.com/research/62a3b3/iran_commercial_ba Iran Commercial Banking Report] {{webarchive|url=https://web.archive.org/web/20120213221752/http://www.researchandmarkets.com/research/62a3b3/iran_commercial_ba |date=February 13, 2012 }}. Business Monitor International (Q1 2009). Retrieved July 10, 2010.</ref> |- | [[#Labor force|Unemployment]] || 11.8% according to government; unofficially: 12–22%;<ref>[https://archive.today/20120731194259/http://www.foxnews.com/politics/2010/12/27/cracks-start-irans-economy-touts-sanctions/ Cracks Start to Show in Iran's Economy as U.S. Touts Sanctions]. Foxnews, December 27, 2010. Retrieved December 27, 2010.</ref> 30% according to opposition<ref>[https://www.latimes.com/news/nationworld/world/la-fg-iran-subsidies-20101223,0,5543095.story?track=rss Prices in Iran rise after lifting of subsidies]. ''Los Angeles Times'', December 23, 2010. Retrieved December 27, 2010.</ref>|| 7% by 2015, by creating 1 million new jobs each year<ref name="AFP"/> |- | [[Central Bank of Iran#Inflation and monetary policy|Inflation rate]] || 15% (as of January 2010) || 12% on average<ref name="AFP"/> |- | [[Labor and tax laws in Iran#Indirect Taxes (sales, VAT)|Value Added Tax]] || 3% || 8%<ref name="Turquoise2">[http://www.turquoisepartners.com/iraninvestment/IIM-Dec10.pdf ''Iran Investment Monthly''] {{Webarchive|url=https://web.archive.org/web/20120306000343/http://www.turquoisepartners.com/iraninvestment/IIM-Dec10.pdf |date=March 6, 2012 }}. Turquoise Partners (December 2010). Retrieved December 27, 2010.</ref> |- |[[Privatization in Iran|Privatization]]|| {{NA}} || 20% of state-owned firms to be privatized each year<ref>[http://www.tehrantimes.com/economy-and-business/115671-iran-to-privatize-186-state-run-companies-official Iran to privatize 186 state-run companies: official] {{webarchive |url=https://web.archive.org/web/20140528055805/http://www.tehrantimes.com/economy-and-business/115671-iran-to-privatize-186-state-run-companies-official |date=May 28, 2014 }}. ''Tehran Times'', May 11, 2014. Retrieved May 27, 2014.</ref> |- | [[Cooperative|Share of cooperative sector]] (% GDP) || < 5%<ref>[http://financialtribune.com/articles/economy-domestic-economy/16303/cooperatives-share-meager-economy Cooperatives Share Meager in Economy]. ''Financial Tribune'', May 9, 2015. Retrieved May 10, 2015.</ref> || 25%<ref name="OIETA2">[http://www.investiniran.ir/en/filepool/27?redirectpage=%2fen%2febook Invest in Iran]. Organization for Investment, Economic and Technical Assistance of Iran, Winter 2011. Retrieved March 28, 2014.</ref> |- | [[Science and technology in Iran#Budget|R&D]] (% GDP) || 0.87% || 2.5%<ref name="Ministry of Commerce" /> |- | [[#International trade|Share of non-oil exports]] || 20% || 30% ($83 billion) by 2016<ref name="AFP"/><ref name="Turquoise2" /><ref>[http://www.tehrantimes.com/economy-and-business/98163-iran-plans-160-billion-annual-trade-turnover-by-2016 Iran plans $160 billion annual trade turnover by 2016] {{webarchive |url=https://web.archive.org/web/20120527094544/http://www.tehrantimes.com/economy-and-business/98163-iran-plans-160-billion-annual-trade-turnover-by-2016 |date=May 27, 2012 }}. ''Tehran Times'', May 23, 2012. Retrieved June 3, 2012.</ref> |- | [[Oil price]] & [[Ministry of Petroleum (Iran)#Revenues from crude oil|revenues]] [[Government of Iran#Revenues|in budget]] || $60 per barrel || $65 per barrel on average<ref name="AFP"/> / $250 billion in [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil and gas revenues]]<ref name="oil" /> in 2015 once the [[South Pars#South Pars development|current projects]] come on stream; [[International Monetary Fund]] projections: ~$60 billion only<ref>[http://www.imf.org/external/pubs/ft/scr/2010/cr1074.pdf 2010 Staff report]. IMF (March 2010). Retrieved December 27, 2010.</ref> |- | [[National Development Fund]] || {{N/A}} || 30% of [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil revenues]] to be allocated to the [[National Development Fund]] by 2015<ref>[http://tehrantimes.com/economy-and-business/116908-irans-ndf-allocates-7b-to-upstream-oil-projects Iran's NDF allocates $7b to upstream oil projects] {{webarchive |url=https://web.archive.org/web/20140714212942/http://tehrantimes.com/economy-and-business/116908-irans-ndf-allocates-7b-to-upstream-oil-projects |date=July 14, 2014 }}. ''Tehran Times'', July 9, 2014. Retrieved July 12, 2014.</ref> |- | [[Petroleum industry in Iran#Oil production and reserves|Oil production]] || 4.1 million bpd || 5.2 million bpd (with some 2,500 oil and gas wells to be drilled and commissioned)<ref>[http://english.farsnews.com/newstext.php?nn=9010170497 Oil Minister: Iran Self-Sufficient in Drilling Industry] {{webarchive |url=https://web.archive.org/web/20130606031356/http://english.farsnews.com/newstext.php?nn=9010170497 |date=June 6, 2013 }}. Fars News Agency, January 9, 2012. Retrieved February 5, 2012.</ref> |- | [[Petroleum industry in Iran#Natural gas|Natural gas]] production|| {{N/A}} || 900 million cubic meter/day{{citation needed|date=July 2021}} |- | [[Petroleum industry in Iran|R&D projects in oil industry]]|| {{N/A}} ||Implementation of 380 research projects by 2015 covering the enhancement of the recovery rate, gas conversion and hydro conversion<ref>[http://www.iran-daily.com/1391/1/24/MainPaper/4207/Page/4/Index.htm# Oil Industry Will Carry Out 380 Research Projects]. ''Iran Daily'', April 12, 2012. Retrieved April 13, 2012.</ref> |- | Investment in [[Petroleum industry in Iran|oil and gas industry]]|| {{N/A}} || $20 billion a year in private and [[Foreign Direct Investment in Iran|foreign investment]], in part to boost [[National Iranian Oil Refining and Distribution Company#New facilities|oil refining capacity]]<ref name="AFP"/><ref>[http://www.payvand.com/news/10/jun/1138.html South Pars attracts $15b in domestic investment]. Mehr News Agency, June 15, 2010. Retrieved June 15, 2010.</ref> |- | [[National Iranian Petrochemical Company#Expansion of the petrochemical industry|Petrochemical output]] || ~50 million tpy || 100 million tpy<ref name=NIPC>[http://www.tehrantimes.com/index_View.asp?code=212109 Iran to build 46 new petchem units]. ''[[Tehran Times]]'', January 13, 2010. Retrieved January 30, 2010.</ref><ref>[http://www.tehrantimes.com/Index_view.asp?code=230826 $44b investment for 64 petchem projects]. ''Tehran Times'', November 23, 2010. Retrieved November 23, 2010.</ref> |- | [[National Iranian Oil Company#Subsidiary companies|Bunkering]] || 25% market share in [[Persian Gulf]] || 50% market share or 7.5 million tpy of liquid fuel<ref>[http://www.iran-daily.com/1389/8/4/MainPaper/3810/Page/4/Index.htm# Bunkering Sector Flourishing]. ''Iran Daily'', October 26, 2010. Retrieved October 25, 2010.</ref> |- | [[National Iranian Oil Company#Strategic petroleum reserves|Oil products storage capacity]] || 11.5 billion liters || 16.7 billion liters{{citation needed|date=July 2021}} |- | [[South Pars gas field|Natural gas storage capacity]] || {{N/A}} || 14 billion cubic meters{{citation needed|date=July 2021}} |- | [[List of power stations in Iran|Electricity generation capacity]] || 61,000 MW || 86,000 MW<ref>[https://web.archive.org/web/20111030025107/http://www.tehrantimes.com/index.php/economy-and-business/3959-iran-to-boost-power-generation-capacity-by-25000mw Iran to boost power generation capacity by 25,000MW]. ''Tehran Times'', October 26, 2011. Retrieved October 30, 2011.</ref> |- | [[List of power stations in Iran|Efficiency of power plants]] || 38% || 45%<ref>[https://archive.today/20130209230849/http://www.zawya.com/story.cfm/sidZAWYA20110414044704 Iran Top Producer of Hydroelectric Power Plants]. ''Zawya'', April 14, 2011. Retrieved October 7, 2011.</ref> |- | Investment in [[Industry of Iran|mining and industry]]|| {{N/A}}|| $70 billion / 700,000 billion [[Iranian rial|rials]]<ref name="Plan">[http://www.iran-daily.com/1389/4/13/MainPaper/3720/Page/4/Index.htm Mining Sector Exports Hit $8b]. ''Iran Daily'', July 4, 2010. Retrieved July 10, 2010.</ref> |- |[[Mining in Iran#Steel|Crude steel production]] || ~10 million tpy || 42 million tpy by 2015<ref name="Plan" /> |- |[[Mining in Iran#Iron ore|Iron ore production]]||~27 million tpy || 66 million tpy by 2015<ref name="Plan" /> |- |[[Mining in Iran#Cement|Cement]]||~71 million tpy|| 110 million tpy<ref name="Plan" /> |- |[[Limestone]]||{{N/A}}|| 166 million tpy<ref name="Plan" /> |- | [[Industry of Iran#Small and medium enterprises|Industrial parks]] ||{{N/A}} || 50 new industrial parks to be built by 2015<ref>[http://www.ngdir.ir/News/NewsDetail.asp?PID=16132 Economy, News. National Geoscience Database of Iran (2010)] {{Webarchive|url=https://web.archive.org/web/20200323060308/http://www.ngdir.ir/News/NewsDetail.asp?PID=16132 |date=March 23, 2020 }}. Retrieved July 24, 2010.</ref> |- |[[Transport in Iran#Ports and harbors|Ports capacity]]||150 million tons|| 200 million tons<ref>[http://www.iran-daily.com/1389/10/6/MainPaper/3855/Page/4/Index.htm# Ports Capacity to Increase]. ''Iran Daily'', December 27, 2010. Retrieved December 26, 2010.</ref> |- |[[Iranian Railways|Railways]]||10,000 kilometers<ref>[http://www.tehrantimes.com/economy-and-business/94182-iran-to-extend-rail-network-to-15000-kilometers-by-2015 Iran to extend rail network to 15,000 kilometers by 2015] {{webarchive |url=https://web.archive.org/web/20120204213235/http://www.tehrantimes.com/economy-and-business/94182-iran-to-extend-rail-network-to-15000-kilometers-by-2015 |date=February 4, 2012 }}. ''Tehran Times'', January 3, 2012. Retrieved January 3, 2012.</ref>|| 15,000 kilometers by 2015 at a cost of $8 billion per annum<ref name="Turq6" /> |- |[[Transport in Iran#Transit statistics|Transit]]|| 7 million tons|| 40 million tons of goods<ref>[http://www.investiniran.ir/en/sectors/transportation Transportation]. [[Ministry of Economic Affairs and Finance (Iran)#Organization for Investment and Economic and Technical Assistance|Organization for Investment and Technical Assistance of Iran]], 2012. Retrieved March 14, 2014.</ref> |- |[[Electronic commerce in Iran|Electronic trade]]||{{N/A}}|| 20% of domestic trade, 30% of foreign trade and 80% of government transactions to be made electronically<ref>[http://www.iran-daily.com/1390/7/14/MainPaper/4070/Page/4/Index.htm Electronic trade up]. ''Iran Daily'', October 6, 2011. Retrieved October 6, 2011.</ref> |} {{Clear}} ;Sixth development plan (2016–2021) The sixth five-year development plan for the 2016–2021 period places emphasis on "guidelines" rather than "hard targets".<ref name="lexology">{{cite web |last1=Kordvani |first1=Amir |last2=Berenjforoush |first2=Poulad |title=Iran approves the Sixth Development Plan to boost investment |url=https://www.lexology.com/library/detail.aspx?g=9a25e9cc-44d0-45fa-9a54-905de434fc66 |website=lexology |date=April 21, 2017 |access-date=June 13, 2020}}</ref> It defines only three priorities: * [[Resistance economy#Iran|the development of a resilient economy]]; * [[Science and technology in Iran#Science policy|progress in science and technology]]; * and [[Culture of Iran|the promotion of cultural excellence]].<ref>{{Cite news|url=http://www.worldbank.org/en/country/iran/overview|title=Overview|work=World Bank|access-date=October 21, 2017|language=en}}</ref> == Fiscal and monetary policy == {{Main|Politics of Iran#Public finance and fiscal policy|Taxation in Iran|Central Bank of Iran#Inflation and monetary policy|l1=Public finance and fiscal policy in Iran|l3=Inflation and monetary policy in Iran}} Since the 1979 revolution, [[Government of Iran#Public finance and fiscal policy|government spending]] has averaged 59% on social policies, 17% on economic matters, 15% on [[military of Iran|national defense]], and 13% on general affairs.<ref name="LOC5" /> Payments averaged 39% on [[education in Iran|education]], [[healthcare in Iran|health]] and [[Social Security Organization (Iran)|social security]], 20% on other social programs, 3% on [[Agriculture in Iran|agriculture]], 16% on [[water supply and sanitation in Iran|water]], [[List of power stations in Iran|power and gas]], 5% on [[Mining in Iran|manufacturing and mining]], 12% on [[Transport in Iran|roads and transportation]] and 5% on other economic affairs.<ref name="LOC5" /> Iran's [[capital investment|investment]] reached 27.7% of GDP in 2009.<ref name="CIA"/> Between 2002 and 2006, inflation fluctuated around 14%.<ref name="IndexMundi">{{cite web |url = http://www.indexmundi.com/iran/inflation_rate_(consumer_prices).html |title = Iran Inflation Rate |publisher = Index Mondi |year = 2009 |access-date = February 5, 2011 }}</ref> In 2008, around 55% of government revenue came from [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil and natural gas revenue]], with 31% from [[Taxation in Iran|taxes and fees]].<ref name="payvand.com">[http://www.payvand.com/news/08/jan/1250.html "Crude price pegged at dlrs 39.6 a barrel under next year's budget"] {{Webarchive|url=https://web.archive.org/web/20110622092858/http://www.payvand.com/news/08/jan/1250.html |date=June 22, 2011 }}. ''[[IRNA]]'', January 27, 2008. Retrieved December 5, 2008.</ref><ref>[http://webarchive.nationalarchives.gov.uk/20080611134119/http://www.fco.gov.uk/en/about-the-fco/country-profiles/middle-east-north-africa/iran?profile=economy&pg=2 Iran's entry]. Foreign and CommonWealth Office (2010). Retrieved June 21, 2009.</ref> There are virtually millions of people who do not pay [[Taxation in Iran|taxes in Iran]] and hence operate [[informal economy|outside the formal economy]].<ref name="CIA"/> The budget for [[Iranian calendar|year 2012]] was $462 billion, 9% less than 2011.<ref name=BusinessWeek>[http://www.businessweek.com/ap/2012-05/D9UQDHR80.htm Iran's parliament approves $462 billion budget] {{webarchive |url=https://web.archive.org/web/20130718212621/http://www.businessweek.com/ap/2012-05/D9UQDHR80.htm |date=July 18, 2013 }}. [[Associated Press]]. Retrieved May 19, 2012.</ref> The budget is based on an [[oil price]] of $85 per barrel. The value of the US dollar is estimated at [[Iranian rial#Value|IRR]] 12,260 for the same period.<ref name=BusinessWeek /> According to the head of the Department of Statistics of Iran, if the [[Budget process|rules of budgeting]] were observed the government could save at least 30 to 35% on its expenses.<ref>[http://www.payvand.com/news/10/may/1316.html Ten Million Iranians Under "Absolute Poverty Line"] {{Webarchive|url=https://web.archive.org/web/20120105030221/http://www.payvand.com/news/10/may/1316.html |date=January 5, 2012 }}. Radio Zamaneh. Retrieved May 5, 2011.</ref> The central bank's [[Banking in Iran#Rates|interest rate]] is 21%, and the [[Central Bank of Iran#Inflation and monetary policy|inflation rate]] has climbed to 22% in 2012, 10% higher than in 2011.<ref>[http://www.jpost.com/IranianThreat/News/Article.aspx?id=265498 Experts: Steinitz exaggerates on Iran economy]. ''The Jerusalem Post'', April 10, 2012. Retrieved April 18, 2012.</ref> There is little alignment between [[Government of Iran#Public finance and fiscal policy|fiscal]] and [[Central Bank of Iran#Inflation and monetary policy|monetary policy]]. According to the [[Central Bank of Iran]], the [[social class in Iran|gap between the rich and the poor]] narrowed because of [[Iranian targeted subsidy plan#Plan revision|monthly subsidies]] but the trend could reverse if high inflation persists.<ref name=FT4>[http://www.ft.com/cms/s/0/a6ac4438-8ebe-11e1-ac13-00144feab49a.html#axzz1t6ompQP1 Najmeh Bozorgmehr: Subsidy dispute adds to Iran's woes]. ''Financial Times'', April 25, 2012 (subscription required). Retrieved April 25, 2012.</ref> Iran had an estimated $110 billion in [[foreign reserves]] in 2011<ref name=F10>[http://english.farsnews.com/newstext.php?nn=8101300065 Minister: Iran Facing No Problem in Currency Reserves, Revenues] {{webarchive |url=https://web.archive.org/web/20120419001302/http://english.farsnews.com/newstext.php?nn=8101300065 |date=April 19, 2012 }}. Fars News Agency, April 18, 2012. Retrieved May 2, 2012.</ref> and balances its [[balance of payment|external payments]] by pricing oil at approximately $75 per barrel.<ref>[https://www.pbs.org/wgbh/pages/frontline/tehranbureau/2010/10/iran-primer-the-oil-and-gas-industry.html The Oil and Gas Industry]. ''Iran Primer'' (PBS), October 26, 2010. Retrieved October 27, 2010.</ref> As of 2013, only $30 to $50 billion of those reserves are accessible because of current sanctions.<ref name=ABC>{{cite news |url = https://abcnews.go.com/Politics/wireStory/sanctions-biting-iran-budging-20044000 |title = Sanctions Biting but Iran Not Budging |date = August 23, 2013 |work = [[Associated Press|AP]] |author = Marjorie Olster |access-date = August 24, 2013 }}</ref> [[Iranian media]] has questioned the reason behind Iran's government non-repatriation of [[Central Bank of Iran#Foreign reserves|its foreign reserves]] before the imposition of the [[United Nations Security Council Resolution 1929|latest round of sanctions]] and its failure to convert into [[gold bullion|gold]]. As a consequence, the [[Iranian rial]] lost more than 40% of its value between December 2011 and April 2012.<ref name=FT4 /> Iran's external and fiscal accounts reflect falling oil prices in FY 2012, but remain in surplus. The current account was expected to reach a surplus of 2.1% of GDP in FY 2012, and the net fiscal balance (after payments to Iran's [[National Development Fund]]) will register a surplus of 0.3% of GDP.<ref name=EIU5 /> In 2013 the [[external debt]]s stood at $7.2 billion down from $17.3 billion in 2012.<ref>[http://www.payvand.com/news/13/may/1206.html Iran's external debts cut by $10b, hit $7.2b: Central Bank Chief] {{Webarchive|url=https://web.archive.org/web/20180616030502/http://www.payvand.com/news/13/may/1206.html |date=June 16, 2018 }}. ''Tehran Times'', May 27, 2013. Retrieved August 24, 2013.</ref> Overall [[fiscal deficit]] is expected to deteriorate to 2.7% of GDP in FY 2016 from 1.7% in 2015.<ref name=IMF111>[http://www.imf.org/en/News/Articles/2016/10/03/MS100316-Iran-Concluding-Statement-of-an-IMF-Staff-Visit Iran: Concluding Statement of an IMF Staff Visit]. IMF, October 3, 2016. Retrieved October 10, 2016.</ref> [[Central Bank of Iran#Money supply|Money in circulation]] reached $700 billion in March 2020 (based on the 2017 [[Iranian rial#Value|pre-devaluation exchange rate]]), thus furthering the decline of the [[Iranian rial]] and rise in inflation.<ref>{{Cite web|url=https://en.radiofarda.com/a/iran-s-money-supply-skyrockets-parallel-to-inflation/30671910.html|title = Iran's Money Supply Skyrockets Parallel to Inflation|website=En.radiofarda.com| date=June 15, 2020 }}</ref><ref>{{Cite web|url=https://en.radiofarda.com/a/government-debt-deficit-money-supply-soar-iran-central-bank-reveals/30434199.html|title = Government Debt, Deficit, Money Supply Soar, Iran Central Bank Reveals|website=En.radiofarda.com| date=February 14, 2020 }}</ref> === Defense related burden === According to official data, as of 2023 Iran spends 10.3 billion [[United States dollar|USD]] or 2.1% of its [[GDP]] on national defense. This percentage is similar to that in other countries such as [[United Kingdom|UK]], [[France]] and [[Finland]].<ref>{{Cite report |url=https://www.sipri.org/publications/2024/sipri-fact-sheets/trends-world-military-expenditure-2023 |title=Trends in World Military Expenditure, 2023 |date=April 2024 |publisher=SIPRI |language=en}}</ref> [[File:Iran_Ministry_of_Defense_New_Weapons_Ceremony_and_Young_Soldier_Festival_(014).jpg|thumb|Iran Ministry of Defense New Weapons Ceremony and Young Soldier Festival]] In 2025, the Iranian budget bill granted 51% of the total oil and gas export revenues, estimated at 12 billion euros, to the [[Islamic Revolutionary Guard Corps|Islamic Revolutionary Guard Corps (IRGC)]] and the [[Law Enforcement Command of the Islamic Republic of Iran|Law Enforcement Command]] (LEF).<ref>{{Cite web |last=Khatinoglu |first=Dalga |date=2024-10-24 |title=Iran's Armed Forces to receive 51% of government's oil export revenues |url=https://www.iranintl.com/en/202410232813 |access-date=2025-01-07 |website=iranintl.com |language=en}}</ref><ref>{{Cite web |title=Iran plans to increase military budget by 200 percent |url=https://www.aljazeera.com/news/2024/10/29/iran-plans-to-increase-military-budget-by-200-percent |access-date=2025-01-07 |website=Al Jazeera |language=en}}</ref> Iran also finances [[Hezbollah]], the [[Houthi movement|Yemeni Houthis]], Iraqi militia, and [[Hamas]]. The average annual budget reserved for the funding of [[Funding of the Axis of Resistance|Iran's proxies]] is estimated at US$1.6 billion.<ref>{{Cite web |date=2025-01-13 |title=Iran's Islamist Proxies in the Middle East {{!}} Wilson Center |url=https://www.wilsoncenter.org/article/irans-islamist-proxies |access-date=2025-01-07 |website=www.wilsoncenter.org |language=en}}</ref> According to Syrian opposition sources, starting from the beginning of 2011, Iran allocated a total of US$50 billion to maintain the [[Bashar al-Assad|Assad]] regime in [[Syria]]. However, this investment proved to be a failure following the eventual collapse of the regime.<ref>{{Cite web |title=Deep Dive: Syria's foreign debt to Iran |url=https://amwaj.media/article/deep-dive-syria-s-foreign-debt-to-iran |access-date=2025-01-09 |website=Amwaj.media |language=en}}</ref><ref>{{Cite web |last=Rasmussen |first=Sune Engel |title=Iran Suffers Blow of 'Historic Proportions' With Assad's Fall |url=https://www.wsj.com/world/middle-east/syria-iran-assad-axis-of-resistance-6289667a?page=1 |access-date=2025-01-09 |website=WSJ |language=en-US}}</ref> The most costly of Iran's defense expenditures is its nuclear program. The estimated total cost of Iran's [[Nuclear program of Iran|nuclear program]] until 2025 approaches US$500 billion.<ref>{{Cite web |last=Qaed |first=Anas Al |date=2021-04-25 |title=Iran's Nuclear Program Might Not Be Worth the Cost |url=https://gulfif.org/irans-nuclear-program-might-not-be-worth-the-cost/ |access-date=2025-01-07 |website=Gulf International Forum |language=en}}</ref><ref>{{Cite web |date=2024-10-04 |title=Opinion: The true cost of Iran's nuclear gamble |url=https://www.yahoo.com/news/opinion-true-cost-iran-nuclear-192742262.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAJdxDcmLCCDVgIlY89vFafKkcXWr2CUyteFSnRPoW-Vsyk-Cx-LBhwAtoDWJqzmhoE6Piz9IGkOQys7rz6kQHMglDwQwUbLZGRXAiZuiYwotnA98dmqh4cXUwbEASr7Sqc8XskRRPWaC4LpIeYuT2M-9xbbXamQKnsSfu2KYFAdH |access-date=2025-01-12 |website=Yahoo News |language=en-US}}</ref> As a result of its nuclear program Iran is subject to international [[International sanctions against Iran|sanctions]], causing a long-term economic stagnation which cost Iran an additional US$1.2 trillion over 12 years.<ref>{{Cite web |date=2024-06-24 |title=Sanctions Cost Iran $1.2 Trillion Over 12 Years, Businessman Says |url=https://www.iranintl.com/en/202406244025 |access-date=2025-01-07 |website=iranintl.com |language=en}}</ref><ref>{{Cite web |last=Khatinoglu |first=Dalga |date=2021-12-05 |title=How Much The Nuclear Program Has Impoverished Iran |url=https://www.iranintl.com/en/20211205244208 |access-date=2025-01-07 |website=iranintl.com |language=en}}</ref> Furthermore, the sanctions led to a significant decline in [[foreign direct investment]]s (FDI), with Iran experiencing a reduction of approximately 80% in FDI between 2011 and 2021.<ref>{{Cite web |title=Iran Foreign Direct Investment, 1997 – 2024 {{!}} CEIC Data |url=https://www.ceicdata.com/en/indicator/iran/foreign-direct-investment |access-date=2025-01-09 |website=www.ceicdata.com}}</ref> ==Work time== In 2024, Iran passed a law to make a two-day weekend. Saturday was added to Friday weekends and Thursdays were removed. The work week was reduced from 44 hours to 40/42 hours.<ref>{{Cite web|url=https://kayhan.ir/fa/news/288201/%D8%AF%D9%88%D9%84%D8%AA-%D8%A8%D8%A7-%DA%A9%D8%A7%D9%87%D8%B4-%D8%B3%D8%A7%D8%B9%D8%AA-%DA%A9%D8%A7%D8%B1%DB%8C-%D8%A8%D9%87-%DB%B4%DB%B0-%D8%B3%D8%A7%D8%B9%D8%AA-%D8%AF%D8%B1-%D9%87%D9%81%D8%AA%D9%87-%D9%85%D9%88%D8%A7%D9%81%D9%82%D8%AA-%DA%A9%D8%B1%D8%AF%D9%87-%D8%A7%D8%B3%D8%AA|title=دولت با کاهش ساعت کاری به ۴۰ ساعت در هفته موافقت کرده است|date=February 25, 1403|website=fa}}</ref><ref>{{Cite web|url=https://www.eghtesadnews.com/%D8%A8%D8%AE%D8%B4-%D8%A7%D8%AE%D8%A8%D8%A7%D8%B1-%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%DB%8C-67/647441-%D9%86%D9%82%D8%AF-%D8%B1%D9%88%D8%B2%D9%86%D8%A7%D9%85%D9%87-%D8%B3%D9%BE%D8%A7%D9%87-%D8%A8%D8%B1-%D8%AA%D8%B9%D8%B7%DB%8C%D9%84%DB%8C-%D8%B4%D9%86%D8%A8%D9%87-%D9%87%D8%A7-%D9%81%D9%82%D8%B7-%D8%AF%D8%B1%D8%B5%D8%AF-%D8%A7%D8%B2-%D9%86%DB%8C%D8%B1%D9%88%DB%8C-%DA%A9%D8%A7%D8%B1-%D8%A7%DB%8C%D8%B1%D8%A7%D9%86-%D8%A8%D8%A7-%D8%AE%D8%A7%D8%B1%D8%AC-%D9%85%D8%B1%D8%AA%D8%A8%D8%B7-%D8%A7%D9%86%D8%AF-%DA%86%D8%B1%D8%A7-%D8%B4%D9%86%D8%A8%D9%87-%D8%B1%D8%A7-%D8%AA%D8%B9%D8%B7%DB%8C%D9%84-%D9%85%DB%8C-%DA%A9%D9%86%DB%8C%D8%AF|title=تعطیلی شنبه صدای روزنامه سپاه را در آورد|date=May 18, 2024|website=اقتصادنیوز}}</ref> ==Challenges== {{see also|Corruption in Iran|Smuggling in Iran|Taxation in Iran#Tax evasion}} The GDP of Iran contracted in FY 2018 and FY 2019 and modest rebound is expected in 2020/2021 according to an April 2020 World Economic Outlook by the IMF.<ref name="Nordea-2020">{{cite web |title=Iran: Economic and Political Overview |url=https://www.nordeatrade.com/fi/explore-new-market/iran/economical-context |website=Nordea |access-date=June 12, 2020 |date=May 2020}}</ref> Challenges to the economy include the [[COVID-19 pandemic in Iran|COVID-19]] outbreak starting in February 2020, which on top of [[US sanctions against Iran|US sanctions]] reimposed in mid-2018 and other factors, led a fall in oil production and are projected to lead to a slow recovery in oil exports.<ref name="IRI-WB-2020"/> Labor-force participation has risen<ref name="Nordea-2020"/> but unemployment is above 10% as of 2020 and projected to rise in 2021 and 2022.<ref name="Nordea-2020"/> Inflation reached 41.1% in 2019, and is expected to continue "in the coming years" according to the [[World Bank]],<ref name="IRI-WB-2020"/> but decline into the 34-33% range.<ref name="Nordea-2020"/> In July 2022, the average inflation rate rose 40.5% while the inflation rate for food and beverages alone rose 87%.<ref>{{Cite web |title=Economic Chaos Continues In Iran As Prices Rise And Currency Falls |url=https://www.iranintl.com/en/202205119909 |access-date=2022-08-16 |website=Iran International |date=May 11, 2022 |language=en}}</ref><ref>{{Cite web |title=شاخص قیمت مصرف کننده – تیر 1401 > درگاه ملی آمار |url=https://www.amar.org.ir/news/ID/18498/%D8%B4%D8%A7%D8%AE%D8%B5-%D9%82%DB%8C%D9%85%D8%AA-%D9%85%D8%B5%D8%B1%D9%81-%DA%A9%D9%86%D9%86%D8%AF%D9%87-%D8%AA%DB%8C%D8%B1-1401 |access-date=2022-08-16 |website=www.amar.org.ir}}</ref> [[Banking in Iran|Iran's banking system]] is "chronically weak and undercapitalised" according to [[Nordea Bank Abp]],<ref name="Nordea-2020"/> holding billions of dollars of non-performing loans,<ref name="theodora">{{cite web |title=Iran Economy 2020 |url=https://theodora.com/wfbcurrent/iran/iran_economy.html |website=theodora |access-date=June 12, 2020}}</ref> and the private sector remains "anemic".<ref name="Nordea-2020"/> The unofficial [[Iranian rial]] to US dollar exchange rate, which had plateaued at 40,000 to one in 2017, has fallen 120,000 to one as of November 2019.<ref name="6 charts bbc">{{cite news |title=Six charts that show how hard US sanctions have hit Iran |url=https://www.bbc.com/news/world-middle-east-48119109 |access-date=June 12, 2020 |work=BBC News |date=December 9, 2019}}</ref> Iran's economy has a relatively low rating in the Heritage Foundation's "[[Index of Economic Freedom]]" (164 out of 180);<ref name="Heritage-2020">{{cite web |title=2020 Index of Economic Freedom. Country Rankings |url=https://www.heritage.org/index/ranking |website=Heritage |access-date=June 12, 2020 |archive-date=May 21, 2020 |archive-url=https://web.archive.org/web/20200521231822/https://www.heritage.org/index/ranking |url-status=unfit }}</ref><ref name="Nordea-2020"/> and ease of doing business ranking (127 among 190) according to the World Bank.<ref name="EoDB">{{cite web |title=Ease of Doing Business rankings. |url=https://www.doingbusiness.org/en/rankings |website=DOINGBUSINESS |date=May 2019 |access-date=June 12, 2020}}</ref> Critics have complained that [[Privatization in Iran|privatization]] has led not to state owned businesses being taken over by "skilled businesspeople" but by the powerful [[Islamic Revolutionary Guard Corps]] "and its associates".<ref name="Filkins-Iran-18-5-2020">{{cite magazine |last1=Filkins |first1=Dexter |title=The Twilight of the Iranian Revolution |magazine=The New Yorker |date=May 18, 2020 }}</ref> In 2020, an Iranian businessperson complained to a foreign journalist ([[Dexter Filkins]]) that the uncertainty of "chronic shortages of material and unruly inspectors pushing for bribes" made operating his business very difficult -- "Plan for the next quarter? I can't plan for tomorrow morning."<ref name="Filkins-Iran-18-5-2020"/> In 2021, according to the [[National Iranian Oil Company|NIOC]], daily consumption of gasoline in Iran has surpassed 85 million liters, i.e., 10 times more than Turkey with almost the same population.<ref>{{cite web| url = https://financialtribune.com/articles/energy/110841/iran-per-capita-gasoline-consumption-above-global-average| title = Iran Per Capita Gasoline Consumption Above Global Average |work=Financial Tribune| date = October 25, 2021 }}</ref> == Ownership == {{Further|Privatization in Iran}} {{See also|Tehran Stock Exchange|Banking in Iran|List of Iranian companies}} {{Pie chart | caption= [[Social class in Iran]]<ref name="LOC5"/><ref>[http://www.turquoisepartners.com/iraninvestment/IIM-AprMay16.pdf Iran Investment Monthly] {{Webarchive|url=https://web.archive.org/web/20200314113922/http://www.turquoisepartners.com/media/1212/iim-aprmay16.pdf |date=March 14, 2020 }}. Turquoise Partners, May 2016. Retrieved December 15, 2016.</ref><ref>[https://www.cnbc.com/2016/03/16/iranians-to-splash-up-to-8b-on-overseas-property-study.html Katy Barnato: Iranians to splash up to $8B on overseas property: Study]. [[CNBC]], March 16, 2016. Retrieved December 15, 2016.</ref><ref>[http://www.payvand.com/news/10/may/1316.html Ten Million Iranians Under "Absolute Poverty Line"] {{Webarchive|url=https://web.archive.org/web/20120105030221/http://www.payvand.com/news/10/may/1316.html |date=January 5, 2012 }}. Radio Zamaneh, May 29, 2010. Retrieved December 15, 2016.</ref> | label1 = [[Upper class]] | value1 = 4.3 | color1 = grey | label2 = [[Middle-class]] | value2 = 32 | color2 = yellow | label3 = [[Working class]] | value3 = 15 | color3 = violet | label4 = [[Underclass|Lower class]]/[[relative poverty]] | value4 = 42 | color4 = green | label5 = [[Underclass|Lower class]]/[[absolute poverty]] | value5 = 6.7 | color5 = white }} Following the [[Iran–Iraq War|hostilities with Iraq]], the Government declared its intention to privatize most industries and to [[economic liberalization|liberalize]] and [[Decentralization|decentralize]] the economy.<ref>[http://iran-daily.com/newspaper/page/4832/4/13775/0 Decentralization key to solving economic problems]. ''Iran Daily'', July 12, 2014. Retrieved July 12, 2014.</ref> Sale of state-owned companies proceeded slowly, mainly due to opposition by a nationalist majority in the parliament. In 2006, most industries, some 70% of the economy, remained state-owned.<ref name="CIA" /> The majority of heavy industries including steel, petrochemicals, copper, automobiles, and machine tools remained in the public sector, with most light industry privately owned.<ref name="CIA"/> Article 44 of the [[Iranian Constitution]] declares that the country's economy should consist of state, cooperative, and private based sectors. The state sector includes all large-scale industries, foreign trade, major minerals, banking, insurance, power generation, dams and large-scale irrigation networks, radio and television, post, telegraph and telephone services, aviation, shipping, roads, railroads and the like. These are publicly owned and administered by the State. 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]]. As of 2012, 5,923 consumer cooperatives, employed 128,396.<ref name=Coop>[http://www.iran-daily.com/1391/4/22/MainPaper/4278/Page/4/Index.htm# 6,000 Cooperatives Nationwide]. ''Iran Daily'', July 12, 2012. Retrieved July 14, 2012.</ref> Consumer cooperatives have over six million members.<ref name=Coop /> Private sector operate in construction, agriculture, animal husbandry, industry, trade, and services that supplement the economic activities of the state and cooperative sectors.<ref>[http://www.servat.unibe.ch/icl/ir00000_.html Iranian Constitution]. University of Bern (2010). Retrieved February 2, 2011.</ref> Since Article 44 has never been strictly enforced, the private sector has played a much larger role than that outlined in the constitution.<ref>{{cite web|url=http://iran-daily.com/1387/3340/html/economy.htm |title=Call for Prioritizing Vision 2025 |access-date=February 13, 2012 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20090217173523/http://iran-daily.com/1387/3340/html/economy.htm |archive-date=February 17, 2009 }}. ''Iran Daily'', February 12, 2009.</ref> In recent years, the role of this sector has increased. A 2004 constitutional amendment allows 80% of state assets to be privatized. Forty percent of such sales are to be conducted through the "[[Privatization in Iran#"Justice shares" plan|Justice Shares]]" scheme and the rest through the [[Tehran Stock Exchange]]. The government would retain the remaining 20%.<ref>[http://www.nitc.co.ir/iran-daily/1387/3300/html/economy.htm Justice Shares Payment Soon] {{Dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}. ''Iran Daily'', December 23, 2008. Retrieved July 23, 2010.</ref><ref>{{cite web |date=January 16, 2006 |url=http://www.bbc.co.uk/persian/business/story/2006/07/060716_ra-rm-article44.shtml |title=BBC Persian |language=fa |publisher=BBC |access-date=July 17, 2007 }}</ref> In 2005, government assets were estimated at $120 billion. Some $63 billion of such assets were privatized from 2005 to 2010, reducing the government's direct share of GDP from 80% to 40%.{{citation needed|date=July 2021}} Many companies in Iran remain uncompetitive because of mismanagement over the years, thus making privatization less attractive for potential investors.<ref>[http://en.mehrnews.com/detail/News/102092 Minister predicts high rate of firm closures]. Mehr News Agency, February 17, 2014. Retrieved March 4, 2014.</ref> According to then-President [[Mahmoud Ahmadinejad]], 60% of [[Social class in Iran#Upper clas|Iran's wealth is controlled by just 300 people]].<ref>[http://www.payvand.com/news/12/dec/1128.html Ahmadinejad slams corrupt hoarders of wealth: "The Iranian 1%"] {{Webarchive|url=https://web.archive.org/web/20190411102445/http://www.payvand.com/news/12/dec/1128.html |date=April 11, 2019 }}. [[Radio Zamaneh]], December 15, 2012. Retrieved March 16, 2014.</ref> === Islamic Revolutionary Guard Corps === {{Main|Islamic Revolutionary Guard Corps#Economic activity|l1=Economic activities of the Revolutionary Guard Corps}} The [[Islamic Revolutionary Guard Corps]] (IRGC) are thought to control about [[Islamic Revolutionary Guard Corps#Economic activity|one third of Iran's economy]] through subsidiaries and trusts.<ref name="RAND1" /><ref>[http://news.bbc.co.uk/2/hi/business/8354875.stm Iran's Guards in $2.5bn rail deal]. BBC, November 11, 2009. Retrieved November 12, 2009.</ref><ref>{{cite news |url=http://news.bbc.co.uk/2/hi/middle_east/7064353.stm |title=Profile: Iran's Revolutionary Guards |date=October 26, 2007 |work=BBC News |access-date=December 27, 2008 }}</ref> 2007 estimates by the ''[[Los Angeles Times]]'' suggest the IRGC has ties to over one hundred companies and annual revenue in excess of $12 billion, particularly in construction.<ref>{{cite news |url=https://www.latimes.com/archives/la-xpm-2007-aug-26-fg-guards26-story.html |title=Iran's $12-billion enforcers |date=August 26, 2007 |work=[[Los Angeles Times]] |author=Kim Murphy |access-date=December 27, 2008 }}</ref> The [[Ministry of Petroleum of Iran|Ministry of Petroleum]] awarded the IRGC billions of dollars in [[no-bid contract]]s as well as major infrastructure projects.<ref>{{cite magazine |url=http://www.time.com/time/world/article/0,8599,1659039,00.html |archive-url=https://web.archive.org/web/20070916052026/http://www.time.com/time/world/article/0,8599,1659039,00.html |archive-date=September 16, 2007 |title=Iran's Rich Revolutionary Guard |date=September 5, 2007 |magazine=Time |author=Azadeh Moaveni |access-date=December 27, 2008 }}</ref> Tasked with border control, the IRGC maintains a [[Smuggling in Iran|monopoly on smuggling]], costing [[List of Iranian companies|Iranian companies]] billions of dollars each year.<ref name="RAND1" /> Smuggling is encouraged in part by the [[Iranian targeted subsidy plan#Objectives|generous subsidization of domestic goods]], including [[2007 Gasoline Rationing Plan in Iran#Fuel smuggling|fuel]]. The IRGC also runs the [[Telecommunication Company of Iran|telecommunication company]], laser eye-surgery clinics, makes cars, builds bridges and roads and develops oil and gas fields.<ref name=NYT20090721>{{cite news |url=https://www.nytimes.com/2009/07/21/world/middleeast/21guards.html?hpw=&pagewanted=print |title=Hard-Line Force Extends Grip Over a Splintered Iran |date=July 20, 2009 |url-access=subscription |work=[[The New York Times]] |author=Michael Slackman |access-date=July 21, 2009}}</ref> === Religious foundations === {{Main|Bonyad|Setad}} [[Welfare (financial aid)|Welfare]] programs for the needy are managed by more than 30 public agencies alongside semi-state organizations known as ''[[bonyad]]s'', together with several private non-governmental organizations. ''Bonyads'' are a consortium of over 120 tax-exempt organizations that receive subsidies and religious donations. They answer directly to the [[Supreme Leader of Iran]] and control over 20% of GDP.<ref name="RAND1" /><ref>Abrahamian, ''History of Modern Iran'' (p.178). Cambridge University Press (2008), {{ISBN|978-0-521-52891-7}}</ref> Operating everything from vast soybean and cotton farms to hotels, soft drink, automobile manufacturing, and shipping lines, they are seen as overstaffed, corrupt and generally unprofitable.<ref name="Abbas">Abbas Bakhtiar: [http://www.payvand.com/news/07/jan/1295.html#_edn7 "Ahmadinejad's Achilles Heel: The Iranian Economy"] {{Webarchive|url=https://web.archive.org/web/20171010061417/http://www.payvand.com/news/07/jan/1295.html#_edn7 |date=October 10, 2017 }}. Payvand, January 25, 2007. Retrieved February 12, 2008.</ref> ''Bonyad'' companies compete with Iran's unprotected private sector, whose firms complain of the difficulty of competing with the subsidized ''bonyads''.<ref name="Abbas" /> ''Bonyads'' are not subject to audit or [[Taxation in Iran#Accounting standards|Iran's accounting laws]].<ref>{{Cite web |last = Ilias |first = Shayerah |title = Iran's Economy |website=U.S. Department of State |date = June 2008 |url=https://fpc.state.gov/documents/organization/107234.pdf |archive-url=https://web.archive.org/web/20080725062615/https://fpc.state.gov/documents/organization/107234.pdf |archive-date=2008-07-25}}</ref> ''[[Setad]]'' is a multi-sector business organization, with holdings of 37 companies, and an estimated value of $95 billion. It is under the control of the Supreme Leader, [[Ali Khamenei]], and created from [[Construction industry of Iran#History|thousands of properties]] confiscated from [[Iranian peoples|Iranians]].<ref name=Setad>{{cite news |title = Assets of the Ayatollah |work = [[Reuters]] |url = https://www.reuters.com/investigates/iran/ |access-date = December 7, 2013 |date = November 11, 2013 |first1 = Steve |last1 = Stecklow |first2 = Babak |last2 = Dehghanpisheh |first3 = Yeganeh |last3 = Torbati }}</ref> == Labor force == {{See also|Iranian labor law|Taxation in Iran|Education in Iran|Iran's brain drain}} {{bar box |title=Employment by sectors (2003)<ref name="Ministry of Commerce" /> |titlebar=#DDD |float=right |left1=sector |right2=persons |width=350px |bars= {{bar pixel|[[Agriculture in Iran|Agriculture]]|red|21.8313||4,009,155}} {{bar pixel|[[Healthcare in Iran|Social, personal and household services]] & [[Government of Iran|Public service]]|green|21.4238||3,934,317}} {{bar pixel|[[Mining in Iran|Mining]] & [[Industry of Iran|Manufacturing]]|blue|16.4427||3,019,576}} {{bar pixel|[[Tourism in Iran|Trade, restaurant & hotel]]|orange|15.3160||2,820,927}} {{bar pixel|[[Construction in Iran|Construction & Real estate services]]|red|13.0424||2,395,144}} {{bar pixel|[[Transport in Iran|Transportation, warehousing]] & [[Communications in Iran|Telecommunications]]|purple|8.3935||1,541,401}} {{bar pixel|[[Banking in Iran|Financial & monetary institutions services]]|grey|1.9949||366,352}} {{bar pixel|[[Petroleum industry in Iran|Oil & gas]]|yellow|0.7449||136,803}} {{bar pixel|[[List of power stations in Iran|Electricity]]|black|0.4194||77,026}} {{bar pixel|[[Water supply and sanitation in Iran|Water]]|turquoise|0.3458||63,510}} |caption= Labor force: 18,364,211 (total)<br /><small>''note:'' Lack of skilled labor<ref name=UNIDO1 /></small> }} After the revolution, the government established a national [[Education in Iran|education system]] that improved adult literacy rates. In 2008, 85% of the adult population was literate, well ahead of the regional average of 62%.<ref name=unescolit>{{cite web |title = National adult literacy rates (15+), youth literacy rates (15–24) and elderly literacy rates (65+) |url = http://stats.uis.unesco.org/unesco/TableViewer/tableView.aspx?ReportId=210 |publisher = UNESCO Institute for Statistics |access-date = December 18, 2013 |archive-date = October 29, 2013 |archive-url = https://web.archive.org/web/20131029183908/http://stats.uis.unesco.org/unesco/TableViewer/tableView.aspx?ReportId=210 }}</ref><ref>{{Cite book |last1 = Nash |first1 = Jason John |url = http://www.thebusinessyear.com/tby_demo//publications.php?art_id=113&type=sector§or=healtheducation |last2 = Sasmaz |first2 = Aytng |title = The Business Year 2011: Iran |place = London, U.K. |publisher = The Business Year |date = January 2011 |page = 232 |isbn = 978-1-908180-00-1 |access-date = January 14, 2012 }} {{dead link|date=January 2021|bot=medic}}{{cbignore|bot=medic}}</ref> The [[Human Development Index]] was 0.749 in 2013, placing Iran in the "high human development" bracket.<ref name="UNDP2014" /> In 2008, annual economic growth of above 5% was necessary to absorb the 750,000 new labor force entrants each year.<ref name="jobs">{{cite web|url=http://iran-daily.com/1387/3157/html/index.htm |title=Gov't Set to Change Economic Course |access-date=July 6, 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20090505011108/http://iran-daily.com/1387/3157/html/index.htm |archive-date=May 5, 2009 }}. ''Iran Daily'', June 24, 2008.</ref> In 2020, agriculture was 10% of GDP and employed 16% of the labor force.<ref name="CIAWFIR">{{cite web|url=https://www.cia.gov/the-world-factbook/countries/iran/|title=MIDDLE EAST :: IRAN|website=CIA.gov|access-date=January 17, 2020}}</ref> In 2017, the [[industrial sector]], which includes mining, manufacturing, and construction, was 35% of GDP and employed 35% of the labor force.<ref name="CIAWFIR"/> In 2009, mineral products, [[Ministry of Petroleum of Iran|notably petroleum]], accounted for 80% of Iran's export revenues, even though mining employs less than 1% of the labor force.<ref name="Ministry of Commerce" /> In 2004, the service sector ranked as the largest contributor to GDP, at 48% of the economy, and employed 44% of workers.<ref name="CIA" /> [[Women in Iran|Women]] made up 33% of the labor force in 2005.<ref>[http://www.payvand.com/news/09/feb/1110.html Valentine M. Moghadam (2009). Where Are Iran's Working Women?] {{Webarchive|url=https://web.archive.org/web/20130501230508/http://www.payvand.com/news/09/feb/1110.html |date=May 1, 2013 }}. The Middle East Institute. Retrieved February 3, 2011.</ref> Youth unemployment, aged 15–24, was 29.1% in 2012, resulting in significant [[Iran's brain drain|brain drain]].<ref name="CIA" /><ref>Emanuele Ottolenghi: [https://www.wsj.com/articles/SB10000872396390443570904577544510656462718 Toppling Iran's Unsteady Regime]. ''The Wall Street Journal'', July 23, 2012. Retrieved July 24, 2012.</ref> In 2016, according to the government, some 40% of the workforce in the [[public sector]] are either in excess or incompetent.<ref>[https://financialtribune.com/articles/economy-domestic-economy/56341/bloated-public-sector-criticized Bloated Public Sector Criticized]. ''Financial Tribune'', December 28, 2016. Retrieved December 29, 2016.</ref> === Labor force and the public sector === The Islamic Republic of Iran employs around 8 million individuals, of whom roughly 3 million hold formal positions within the three branches of government, the armed forces, and leadership institutions. These roles encompass bureaucratic staff, civil servants, and uniformed military personnel.<ref name="auto1">{{Cite web |last=Anvari |first=Amirhadi |title=The 8 million Iranians on the Islamic Republic’s payroll |url=https://content.iranintl.com/8-million-iranians-on-islamic-republics-payroll/index.html#group-section-State-Sphere-CJ2x4ujMRs |access-date=2025-02-06 |website=content.iranintl.com |language=en}}</ref> Beyond the formal government structure, approximately 2.3 million individuals are employed in quasi-governmental organizations, including state-owned enterprises, national banks, municipalities, and the [[Islamic Azad University]]. Additionally, about 2.5 million pensioners receive state stipends, often distributed through the Relief Committee, a government-controlled charitable organization. As a result, nearly one in ten Iranian citizens maintain a regular financial connection to the state.<ref name="auto1"/> === Personal income and poverty === {{See also|Social class in Iran|Iranian subsidy reform plan#Objectives|Privatization in Iran#"Justice shares" plan|Construction in Iran#Mehr Housing Scheme|l2=Targeted social assistance reform|l3="Justice shares"|l4=Mehr housing scheme}} [[File:Iran unemployement min-wage Per-capita-income-growth.jpg|thumb|Unemployment rate, per-capita income growth and minimum wage, 2000–2009]] [[File:Ira world GNI percapita.PNG|thumb|283px|[[List of countries by GNI (nominal, Atlas method) per capita|GNI per capita]]:<br />{{legend|green|Iran in 2010: $4,520 nominal. 2012: $13,000 PPP.<ref name=Mehr1 />}} {{legend|#0000FF|Higher GNI per capita compared to Iran}} {{legend|#FF8040|Lower GNI per capita compared to Iran}}]] Iran is classed as a [[List of countries by GDP (PPP) per capita|middle income country]] and has made significant progress in provision of health and education services in the period covered by the [[Millennium Development Goals]] (MDGs). In 2010, Iran's average monthly income was about $500. The [[GNI per capita]] in 2012 was $13,000, by [[Purchasing power parity|PPP]].<ref name="CIA"/><ref name=Mehr1>[https://web.archive.org/web/20131015184439/http://www.irandailybrief.com/2012/05/11/economy-minister-per-capita-income-in-iran-has-surpassed-13000-dollars-per-year-17th-largest-economy-in-the-world-in-2012/ Iran's per capita income exceeds $13,000: minister]. Mehr News Agency, May 8, 2012. Retrieved April 18, 2014.</ref><ref name=Aljazeera>{{cite video |date = December 2010 |title = Inside Story{{Snd}} Iran's economic surgery |url = https://www.youtube.com/watch?v=nOe3UbEAWg0 |medium = Motion picture |publisher = AljazeeraEnglish |location = Iran |access-date = December 28, 2010 |time = 02:50 |quote = in a country where the average income is around 500 dollars}}</ref><ref name=GNI>[http://data.worldbank.org/country/iran-islamic-republic Iran Data by country: Iran, Islamic Rep] {{webarchive |url=https://web.archive.org/web/20130620140232/http://data.worldbank.org/country/iran-islamic-republic |date=June 20, 2013 }}. World Bank (2011). Retrieved February 5, 2011.</ref> A minimum national wage applies to each sector of activity as defined by the Supreme Labor Council. In 2009 this was about $263 per month ($3,156 per year).<ref>[http://payvand.com/news/09/nov/1011.html Iran's Poor Face a Logjam in the Labyrinths of Work] {{Webarchive|url=https://web.archive.org/web/20111002195324/http://payvand.com/news/09/nov/1011.html |date=October 2, 2011 }}. ILNA.ir, October 21, 2009. Retrieved January 24, 2010.</ref> In 2001, approximately 20% of household consumption was spent on food, 32% on fuel, 12% on health care and 8% on education.<ref>[http://www.nationsencyclopedia.com/Asia-and-Oceania/Iran-INCOME.html Iran – Income]. Encyclopedia of the Nations. Retrieved October 14, 2010.</ref> In 2015, Iranians [[Central Bank of Iran#Debit/credit cards|had little personal debt]].<ref>{{Cite journal |title = Western Companies See Potential in Reaching Iran's Consumers After Nuclear Deal |journal = Wall Street Journal |date = April 6, 2015 |first = Asa |last = Fitch |author2 = Nicolas Parasie |url = https://www.wsj.com/articles/western-companies-see-potential-in-reaching-irans-consumers-after-nuclear-deal-1428313107?cb=logged0.5079263212005186 |access-date = April 10, 2015 }}</ref> In 2007, seventy percent of Iranians owned [[Construction industry of Iran|their homes]].<ref name=ID1>{{cite web|url=http://iran-daily.com/1386/2812/html/economy.htm |title=70% of Population Own Homes |access-date=April 9, 2007 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080219133453/http://iran-daily.com/1386/2812/html/economy.htm |archive-date=February 19, 2008 }}. ''Iran Daily'', April 9, 2007.</ref> In 2018–2019, the median household income of Iran was 434,905,000 rials (a bit above $3,300), an 18.6% rise from 2017 to 2018, when median household income was about 366,700,000 rials.{{citation needed|date=July 2021}} Adjusted for [[purchasing power parity]], Iran's 2017–2018 median income was equivalent to about $28,647 (2017 conversion factor, private consumption, LCU).<ref>[https://data.worldbank.org/indicator/PA.NUS.PRVT.PP?locations=IR PPP conversion factor, private consumption (LCU per international $).] World Bank. Accessed September 21, 2019. Conversion factor was 12800.39.</ref> As the average Iranian household size is 3.5, this puts median personal income at around $8,185.<ref>[https://www.un.org/en/development/desa/population/publications/pdf/ageing/household_size_and_composition_around_the_world_2017_data_booklet.pdf Household size and Composition Around the World 2017.] The United Nations. Page 18.</ref> While Iran rates relatively well on income, [[List of countries by wealth per adult|median wealth]] is very low for its income level, on par with Vietnam or Djibouti, indicating a high level of spending. According to SCI, median household spending in 2018 was 393,227,000 rials, or 90.5% of the median household income of 434,905,000 rials.{{citation needed|date=July 2021}} [[Iranian Revolution|After the Revolution]], the composition of the [[Social class in Iran#The middle class|middle class in Iran]] did not change significantly, but its size doubled from about 15% of the population in 1979 to more than 32% in 2000.<ref name="LOC8">{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/104 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |page = [https://archive.org/details/irancountrystudy00curt_2/page/104 104] |isbn = 978-0-8444-1187-3 }}</ref> In 2008, the official poverty line in [[Tehran]] for 2008 was $9,612. The national average poverty line was $4,932.<ref>{{Cite book|url=https://books.google.com/books?id=1HORBQAAQBAJ&dq=The+official+poverty+line+in+Tehran+for+the+year+ending+March+20%2C+2008%2C+was+%249%2C612%2C+while+the+national+average+poverty+line+was+%244%2C932&pg=PA233|title=Iran Country Study Guide Volume 1 Strategic Information and Developments|date=March 3, 2012|publisher=Lulu.com |isbn=978-1-4387-7462-6}}</ref> In 2010, Iran's Department of Statistics announced that 10 million Iranians live under the [[Absolute poverty|absolute poverty line]] and 30 million live under the [[Relative poverty|relative poverty line]].<ref>[http://www.payvand.com/news/10/may/1316.html Ten Million Iranians Under "Absolute Poverty Line"] {{Webarchive|url=https://web.archive.org/web/20120105030221/http://www.payvand.com/news/10/may/1316.html |date=January 5, 2012 }}. Radio Zamaneh, May 29, 2010. Retrieved May 28, 2010.</ref> === State of income inequality === According the inequality dataset of the [[World Bank|world bank]], in 2002 the [[Gini coefficient|Gini index]] in Iran was 34.8, a level that is considered to be quite modest. However, closer data analysis reveals significant wealth concentration, with the top 10% of earners holding 52.7% of the national income - a larger share than in the [[United States]] or [[European countries]].<ref>{{Cite web |title=World |url=https://wid.world/world/#sptinc_p90p100_z/US;FR;DE;CN;ZA;GB;WO/last/eu/k/p/yearly/s/false/24.722500000000004/80/curve/false/country |access-date=2025-02-06 |website=WID - World Inequality Database |language=en-US}}</ref> Economic disparity is also evident within the public sector'''.''' Many Iranian state employees face significant financial hardship, with salaries as low as $200 per month, however, some [[Islamic Consultative Assembly|Majlis]] representatives receive monthly salaries ranging from 200 to 250 million tomans (or more than $59,172 according to the exchange rate of January 2024).<ref>{{Cite web |title=Most Accurate Exchange Rates |url=https://www.exchange-rates.org/ |access-date=2025-02-06 |website=www.exchange-rates.org |language=en}}</ref> Additionally, they receive extra bonuses during religious holidays and on "Parliament Day" and "Employee Day," along with [[perquisite]]s like [[Nowruz]] and [[Yaldā Night|Yalda Night]] snacks.<ref>{{Cite web |last=Taghati |first=Amir |date=2024-02-16 |title=Leaked Documents Expose Iranian MPs' Lucrative Salaries Amidst Economic Hardship |url=http://www.ncr-iran.org/en/news/exclusive-report/leaked-documents-expose-iranian-mps-lucrative-salaries-amidst-economic-hardship/ |access-date=2025-02-06 |website=NCRI |language=en-US}}</ref> Inequality is also evident in access to essential services such as [[Tehran water shortage inequality|water supply]]. In [[Tehran]] impoverished districts struggle with inadequate water provision and hazardous water quality, while affluent areas, housing many of the nation's economic elite, including high-ranking government and [[Islamic Revolutionary Guard Corps|Islamic Revolutionary Guard Corps (IRGC)]] officials, are largely unaffected by these shortages.<ref>{{Cite journal |last=Nasri Roodsari |first=Elmira |last2=Hoseini |first2=Parian |date=2021 |title=An assessment of the correlation between urban green space supply and socio-economic disparities of Tehran districts—Iran |url=https://www.econstor.eu/handle/10419/287117 |journal=Environment, Development and Sustainability |volume=24 |issue=11 |pages=12867–12882 |doi=10.1007/s10668-021-01970-4 |issn=1573-2975|hdl=10419/287117 |hdl-access=free }}</ref> === Social security === {{See also|Social Security Organization|Healthcare in Iran}} Although Iran does not offer universal social protection, in 1996, the Iranian Center for Statistics estimated that more than 73% of the Iranian population was covered by social security.<ref name="Irandev">{{Cite web|title=Iran: Country Brief |publisher=[[World Bank]] |year=2009 |url=http://go.worldbank.org/KQD2RP3RX0 |archive-url=http://webarchive.loc.gov/all/20110210062245/http://go.worldbank.org/KQD2RP3RX0 |archive-date=February 10, 2011 |access-date=July 12, 2009 }}</ref> Membership of the social security system for all employees is compulsory.<ref name="Labor">{{cite web |url = http://www.ilo.org/dyn/natlex/docs/WEBTEXT/21843/64830/E90IRN01.htm |title = ''Labour Code'' |access-date = March 1, 2009 |last = Rouznameh |first = Rasmi |year = 1990 |publisher = [[International Labour Organization]] }}</ref> Social security ensures employee protection against unemployment, disease, old age and occupational accidents.<ref name=SSA /> In 2003, the government began to consolidate its welfare organizations to eliminate redundancy and inefficiency. In 2003 the minimum standard pension was 50% of the worker's earnings but no less than the minimum wage.<ref name=SSA /> Iran spent 22.5% of its 2003 national [[budget]] on [[social welfare]] programs of which more than 50% covered pension costs.<ref name=CBI2>{{cite web |url = http://www.cbi.ir/showitem/6650.aspx |title = Annual Review |publisher = [[Central Bank of Iran]] |date = December 2009 |access-date = May 10, 2010 |archive-date = June 18, 2011 |archive-url = https://web.archive.org/web/20110618061133/http://www.cbi.ir/showitem/6650.aspx }}</ref> Out of the 15,000 homeless in Iran in 2015, 5,000 were [[Women in Iran|women]].<ref>[http://www.payvand.com/news/15/jul/1076.html Women now comprise one-third of homeless Iranians] {{Webarchive|url=https://web.archive.org/web/20170917080550/http://www.payvand.com/news/15/jul/1076.html |date=September 17, 2017 }}. [[Radio Zamaneh]], July 12, 2015. Retrieved July 14, 2015.</ref> Employees between the age of 18 and 65 years are covered by the social security system with financing shared between the employee (7% of salary), the employer (20–23%) and the state, which in turn supplements the employer contribution up to 3%.<ref>[https://www.socialsecurity.gov/policy/docs/progdesc/ssptw/2004-2005/asia/iran.html Social Security Programs Throughout the World: Asia and the Pacific]. [[Social Security Administration]], 2004. Retrieved March 14, 2014.</ref> Social security applies to self-employed workers, who voluntarily contribute between 12% and 18% of income depending on the protection sought.<ref name=SSA>[https://www.socialsecurity.gov/policy/docs/progdesc/ssptw/2004-2005/asia/iran.html Iran's entry]. U.S. Social Security Administration. Retrieved October 14, 2010.</ref> [[Civil Servants Pension Organization|Civil servants]], the regular military, law enforcement agencies, and IRGC have their own pension systems.<ref>[http://web.worldbank.org/external/default/main?pagePK=51187349&piPK=51189435&theSitePK=312943&menuPK=64187510&searchMenuPK=312997&theSitePK=312943&entityID=000160016_20031029121338&searchMenuPK=312997&theSitePK=312943 Iran – The pension system in Iran] {{webarchive |url=https://web.archive.org/web/20111130113548/http://web.worldbank.org/external/default/main?pagePK=51187349&piPK=51189435&theSitePK=312943&menuPK=64187510&searchMenuPK=312997&theSitePK=312943&entityID=000160016_20031029121338&searchMenuPK=312997&theSitePK=312943 |date=November 30, 2011 }}. World Bank (2003). Retrieved February 3, 2011.</ref> === Trade unions === {{See also|List of trade unions#Iran|l1=Trade unions in Iran}} Although Iranian workers have a theoretical right to form labor unions, there is no union system in the country. Ostensible worker representation is provided by the [[Workers' House of the Islamic Republic of Iran|Workers' House]], a state-sponsored institution that attempts to challenge some state policies.<ref>[http://www.ilo.org/public/english/region/asro/bangkok/arm/irn.htm Iran's entry]. International Labour Organization (2001). Retrieved February 3, 2011.</ref> [[Guild]] unions operate locally in most areas, but are limited largely to issuing credentials and licenses. The right to strike is generally not respected by the state. Since 1979 strikes have often been met by police action.<ref>[https://www.pbs.org/wgbh/pages/frontline/tehranbureau/2010/01/irans-new-labor.html Iran's New Labor?] ''Frontline'' (PBS), January 28, 2010. Retrieved February 3, 2011.</ref> A comprehensive law covers labor relations, including hiring of foreign workers. This provides a broad and inclusive definition of the individuals it covers, recognizing written, oral, temporary and indefinite employment contracts. Considered employee-friendly, the labor law makes it difficult to lay off staff. Employing personnel on consecutive six-month contracts (to avoid paying benefits) is illegal, as is dismissing staff without proof of a serious offense. Labor disputes are settled by a special labor council, which usually rules in favor of the employee.<ref name="Labor"/> == Sectors == {{See also|Provinces of Iran}} === Agriculture and foodstuffs === {{Main|Agriculture in Iran}} {{See also|Geography of Iran|Environmental issues in Iran}} [[File:Iran land.jpg|thumb|right|Wheat, the most important crop, is grown mainly in the west and northwest whilst rice is the major crop in the Caspian region.]] Agriculture contributes 9.5% to the [[gross domestic product]] and employs 17% of the labor force.<ref name="Nordea-2020"/> About 9% of Iran's land is arable,<ref>{{Cite web|url=https://data.worldbank.org/indicator/AG.LND.ARBL.ZS|title=Arable land (% of land area) {{!}} Data|website=data.worldbank.org|language=en-us|access-date=May 10, 2018}}</ref> with the main food-producing areas located in the [[Caspian Sea|Caspian]] region and in northwestern valleys. Some northern and western areas support rain-fed agriculture, while others require [[Irrigation in Iran|irrigation]].<ref name="LOC7">{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/354 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |page = [https://archive.org/details/irancountrystudy00curt_2/page/354 354] |isbn = 978-0-8444-1187-3 }}</ref> Primitive farming methods, overworked and under-fertilized soil, poor seed and water scarcity are the principal obstacles to increased production. About one third of total cultivated land is irrigated. Construction of multipurpose [[List of reservoirs and dams in Iran|dams and reservoirs]] along rivers in the [[Zagros]] and [[Alborz]] mountains have increased the amount of water available for irrigation. Agricultural production is increasing as a result of modernization, mechanization, improvements to crops and livestock as well as land redistribution programs.<ref name="www-wds.worldbank.org">{{Cite web |title=Islamic Republic of Iran{{Snd}} Services for Agriculture and Rural Development |website=[[World Bank]] |date=June 1994 |url=http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1994/06/20/000009265_3961004234937/Rendered/PDF/multi_page.pdf |access-date=March 28, 2011 |archive-url=https://web.archive.org/web/20080723090455/http://www.austrade.gov.au/Agribusiness-to-Iran/default.aspx |archive-date=July 23, 2008 }}</ref> Wheat, the most important crop, is grown mainly in the west and northwest. Rice is the major crop in the Caspian region. Other crops include barley, corn, cotton, sugar beets, tea, hemp, tobacco, fruits, potatoes, legumes (beans and lentils), vegetables, fodder plants (alfalfa and clover), almonds, walnuts and spices including [[cumin]] and [[sumac]]. Iran is the world's largest producer of [[saffron]], [[pistachios]], honey, [[berberis vulgaris|berberis]] and [[berries]] and the second largest date producer.<ref name="FAO1">[http://faostat.fao.org/site/339/default.aspx Commodities by country – Iran] {{webarchive|url=https://web.archive.org/web/20110713020710/http://faostat.fao.org/site/339/default.aspx |date=July 13, 2011 }}. FAO Statistics (2010). Retrieved January 30, 2010.</ref> Meat and dairy products include lamb, goat meat, beef, poultry, milk, eggs, butter, and cheese. Non-food products include wool, leather, and silk. Forestry products from the northern slopes of the [[Alborz Mountains]] are economically important. Tree-cutting is strictly controlled by the government, which also runs a [[reforestation]] program. Rivers drain into the Caspian Sea and are fished for salmon, carp, trout, pike, and sturgeon that produce [[caviar]], of which Iran is the largest producer.<ref name="www-wds.worldbank.org" /><ref>[http://news.bbc.co.uk/2/hi/business/1394717.stm Business | Crunch time for Caspian caviar]. BBC News, June 19, 2001. Retrieved January 30, 2010.</ref> Since the 1979 revolution, commercial farming has replaced subsistence farming as the dominant mode of agricultural production. By 1997, the gross value reached $25 billion.<ref name="Ministry of Commerce" /> Iran is 90% self-sufficient in essential agricultural products, although limited rice production leads to substantial imports. In 2007 Iran reached self-sufficiency in wheat production and for the first time became a net wheat exporter.<ref>{{cite web|url=http://iran-daily.com/1386/3029/html/economy.htm |title=Trade With PGCC To Improve |access-date=December 3, 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080307100713/http://iran-daily.com/1386/3029/html/economy.htm |archive-date=March 7, 2008 }}. ''Iran Daily'', December 31, 2007.</ref> By 2003, a quarter of Iran's non-oil exports were of agricultural products,<ref>[http://info.worldbank.org/etools/docs/library/55547/geoindications/geoindications/pdf/casIRANillustrated.pdf The Case Study of The Islamic Republic of Iran]. World Bank, June 10, 2004. Retrieved April 7, 2008.</ref> including fresh and dried fruits, nuts, animal hides, processed foods, and spices.<ref name="Ministry of Commerce" /> Iran exported $736 million worth of [[foodstuff]]s in 2007 and $1 billion (~600,000 tonnes) in 2010.<ref name=export>{{cite news |url = http://tehrantimes.com/Index_view.asp?code=214856 |title = Iran's foodstuff exports near $1b |newspaper = Tehran Times |date = February 24, 2010 |access-date = January 21, 2012 }}</ref> A total of 12,198 entities are engaged in the [[Agriculture in Iran#Foodstuff|Iranian food industry]], or 12% of all entities in the [[Industry of Iran|industry sector]]. The sector also employs approximately 328,000 people or 16.1% of the entire industry sector's workforce.<ref name=BYI5>{{Cite book |last1 = Ayse |first1 = Valentine |url = http://www.investiniran.ir/en/filepool/26?redirectpage=%2fen%2febook |last2 = Nash |first2 = Jason John |last3 = Leland |first3 = Rice |title = The Business Year 2013: Iran |place = London, U.K. |publisher = The Business Year |date = January 2013 |page = 82 |isbn = 978-1-908180-11-7 |access-date = March 14, 2014 |archive-url = https://web.archive.org/web/20161227193349/http://www.investiniran.ir/en/filepool/26?redirectpage=%2Fen%2Febook |archive-date = December 27, 2016 }}</ref> === Manufacturing === {{Main|Industry of Iran}}[[File:Industry-Iran-map.jpg|thumb|right|Iran has a diversified and broad industrial base. In 1998, the [[United Nations]] classified Iran's economy as "semi-developed".]]{{See also|Industrial Development and Renovation Organization of Iran|Iran Electronics Industries|Iran Aviation Industries Organization|Iranian Space Agency|l1=IDRO|l2=Iran Electronics Industries}} Large-scale factory manufacturing began in the 1920s. During the [[Iran–Iraq War]], Iraq bombed many of [[National Iranian Petrochemical Company|Iran's petrochemical plants]], damaging the large [[Abadan Refinery|oil refinery at Abadan]] bringing production to a halt. Reconstruction began in 1988 and production resumed in 1993. In spite of the war, many small factories sprang up to produce import-substitution goods and materials needed by the military.<ref>[http://www.globalsecurity.org/military/world/iran/industry.htm Iran's Defense Industry]. Globalsecurity.org. Retrieved February 3, 2011.</ref> Iran's major manufactured products are petrochemicals, steel and copper products. Other important manufactures include automobiles, home and electric appliances, telecommunications equipment, cement and industrial machinery. Iran operates the largest operational population of industrial robots in West Asia.<ref>[http://www.worldrobotics.org/downloads/General.pdf IFRstat.org] {{Dead link|date=November 2016}}. United Nations Economic Commission for Europe, October 11, 2005. Retrieved July 23, 2010.</ref> Other products include paper, rubber products, processed foods, [[Iranian leather industry|leather products]] and [[Pharmaceuticals in Iran|pharmaceuticals]]. In 2000, [[Industry of Iran#Textiles and apparel industry|textile mills]], using domestic cotton and wool such as ''Tehran Patou'' and ''Iran Termeh'' employed around 400,000 people around Tehran, [[Isfahan]] and along the Caspian coast.<ref>{{cite web |url = http://www.nitc.co.ir/iran-daily/1388/3438/html/economy.htm |title = Textile Smuggling Harms Domestic Production |access-date=June 1, 2016 }} {{Dead link|date=June 2016|bot=medic}}{{cbignore|bot=medic}}. ''Iran Daily'', July 1, 2009.</ref><ref>{{cite web|url=http://iran-daily.com/1385/2758/html/economy.htm |title=Textile factories in trouble |access-date=June 2, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20071018004526/http://iran-daily.com/1385/2758/html/economy.htm |archive-date=October 18, 2007 }}. ''Iran Daily'', January 15, 2007.</ref> [[File:A giant distillation tower in Arak.jpg|thumb|Giant Fractionating column manufactured by [[Machin Sazi Arak|Machine Sazi Arak (MSA)]]]] A 2003 report by the [[United Nations Industrial Development Organization]] regarding [[Industry of Iran#Small and medium enterprises|small and medium-sized enterprises]] (SMEs)<ref name=UNIDO1>[http://www.unido.org/fileadmin/user_media/Publications/Pub_free/Strategy_document_to_enhance_contribution_of_efficient_and_competitive_SME_sector%20_in_Iran.pdf ''Iran's Small and Medium Enterprises''] {{Webarchive|url=https://web.archive.org/web/20130903060902/http://www.unido.org/fileadmin/user_media/Publications/Pub_free/Strategy_document_to_enhance_contribution_of_efficient_and_competitive_SME_sector%20_in_Iran.pdf |date=September 3, 2013 }}. The United Nations Industrial Development Organization (2003). Retrieved February 2, 2010.</ref> identified the following impediments to industrial development: * Lack of monitoring institutions; * Inefficient [[Banking in Iran|banking system]]; * Insufficient [[Science in Iran#Science in modern Iran|research & development]]; * Shortage of managerial skills; * [[Corruption in Iran|Corruption]]; * [[Taxation in Iran|Inefficient taxation]]; * Socio-cultural apprehensions; * Absence of social learning loops; * Shortcomings in international market awareness necessary for [[Global Competitiveness Report|global competition]]; * Cumbersome bureaucratic procedures; * Shortage of skilled labor; * Lack of [[Intellectual property in Iran|intellectual property protection]]; * Inadequate social capital, social responsibility and [[Culture of Iran|socio-cultural values]]. Despite these problems, Iran has progressed in various [[Science and technology in Iran|scientific and technological fields]], including [[National Iranian Petrochemical Company|petrochemical]], [[Pharmaceuticals in Iran|pharmaceutical]], [[Iranian Space Agency|aerospace]], [[List of military equipment manufactured in Iran|defense]], and [[Industry of Iran|heavy industry]]. Even in the face of [[sanctions against Iran|economic sanctions]], Iran is emerging as an [[industrialized country]].<ref name="ECO-20100927">{{Cite web |url=http://www.ecosecretariat.org/ftproot/Publications/Journal/2/Industrialization%20and%20Dependency%20-%20the%20Case%20of%20Iran%20d%20by%20Akbar%20Torbat.doc |title=Industrialization and Dependency: the Case of Iran |format=Microsoft Word |date=September 27, 2010 |last1=Torbat |first1=Akbar |website=[[Economic Cooperation Organization]] |url-status=usurped |archive-url=https://web.archive.org/web/20110726015057/http://www.ecosecretariat.org/ftproot/Publications/Journal/2/Industrialization%20and%20Dependency%20-%20the%20Case%20of%20Iran%20d%20by%20Akbar%20Torbat.doc |archive-date=July 26, 2011 |access-date=February 5, 2011 }}</ref> ==== Handicrafts ==== {{Main|ICHTO|Iranian art|Persian rug}} [[File:ISFAHAN CARPET.jpg|thumb|Persian carpet]] Iran has a long tradition of producing [[Iranian art|artisanal goods]] including [[Persian carpet]]s, [[Iranian art#Pottery and ceramics|ceramics]], copperware, brassware, glass, leather goods, textiles and wooden artifacts. The country's carpet-weaving tradition dates from pre-Islamic times and remains an important industry contributing substantial amounts to rural incomes. An estimated 1.2 million weavers in Iran produce carpets for domestic and international export markets.{{citation needed|date=July 2021}} More than $500 million worth of hand-woven carpets are exported each year, accounting for 30% of the 2008 world market.<ref>{{cite web|url=http://www.iran-daily.com/1387/3296/html/economy.htm |title=Health Insurance for Carpet Weavers |access-date=December 16, 2008 |archive-url=https://web.archive.org/web/20090603082009/http://www.iran-daily.com/1387/3296/html/economy.htm |archive-date=June 3, 2009 }}. ''Iran Daily'', December 16, 2008.</ref><ref>[http://www.ft.com/cms/s/0/5a5c0444-1669-11df-bf44-00144feab49a.html Iran's oldest craft left behind]. ''Financial Times'', February 10, 2010 (subscription required). Retrieved February 10, 2009.</ref> Around 5.2 million people work in some 250 handicraft fields and contribute 3% of GDP.{{citation needed|date=July 2021}} ==== Automobile manufacturing ==== {{Main|Iranian automobile industry}} [[File:Iran Khodro factory 2.jpg|thumb|[[Iran Khodro]] is the largest car manufacturer in the Middle-East. It has established joint-ventures with foreign partners on 4 continents.]] As of 2001, 13 public and privately owned automakers within Iran, led by [[Iran Khodro]] and [[SAIPA|Saipa]] that accounted for 94% of domestic production. Iran Khodro's [[Paykan]], replaced by the [[Samand]] in 2005, is the predominant brand. With 61% of the 2001 market, Khodro was the largest player, whilst Saipa contributed 33% that year. Other car manufacturers, such as the [[Bahman Group]], Kerman Motors, [[Kish Khodro]], Raniran, Traktorsazi, Shahab Khodro and others accounted for the remaining 6%.<ref>{{cite web|url=http://www.atiehbahar.com/Resources/Automotive.htm |title=Iran Automotive Industry |access-date=May 29, 2011 |archive-url=https://web.archive.org/web/20080617154335/http://www.atiehbahar.com/Resources/Automotive.htm |archive-date=June 17, 2008 }}. Atieh Bahar (2003).</ref> These automakers produce a wide range of vehicles including motorbikes, passenger cars such as Saipa's [[Saipa Miniator|Tiba]], vans, mini trucks, medium-sized trucks, heavy trucks, minibuses, large buses and other heavy automobiles used for commercial and private activities in the country. In 2009 Iran ranked fifth in car production growth after China, Taiwan, Romania and India.<ref>{{cite news |url=http://english.farsnews.com/newstext.php?nn=8905271515 |title=Iran Ranks 5th in Car Production Growth |work=Fars News Agency |date=August 18, 2010 |access-date=November 28, 2010 |archive-url=https://web.archive.org/web/20120301004951/http://english.farsnews.com/newstext.php?nn=8905271515 |archive-date=March 1, 2012 }}</ref> Iran was the world's [[List of countries by motor vehicle production|12th biggest automaker in 2010]] and operates a fleet of 11.5 million cars.<ref name="Cars">{{cite document |title = Iran Automotive Forecast |publisher= Economist Intelligence Unit |year = 2008 }}</ref><ref>{{cite web|url=http://iran-daily.com/1386/2865/html/economy.htm |title=Iran 16th Biggest Automaker |access-date=June 12, 2007 |archive-url=https://web.archive.org/web/20071017225933/http://iran-daily.com/1386/2865/html/economy.htm |archive-date=October 17, 2007 }}. ''Iran Daily'', June 12, 2007.</ref><ref>{{cite web|url=http://iran-daily.com/1386/2883/html/economy.htm |title=Gasoline Quota Will Change In Two Months |access-date=July 4, 2007 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20071020011705/http://iran-daily.com/1386/2883/html/economy.htm |archive-date=October 20, 2007 }}. ''Iran Daily'', July 4, 2007.</ref><ref>[http://www.tehrantimes.com/index_View.asp?code=226986 Iran ranks 2nd in using gas-fueled cars]. ''Tehran Times'', September 20, 2010. Retrieved November 29, 2010.</ref> Iran produced 1,395,421 cars in 2010, including 35,901 commercial vehicles.{{citation needed|date=July 2021}} ==== Defense industry ==== {{Main|Military of Iran|Defense industry of Iran}} {{See also|List of military equipment manufactured in Iran}} In 2007 the [[International Institute for Strategic Studies]] estimated Iran's defense budget at $7.31 billion, equivalent to 2.6% of GDP or $102 per capita, ranking it 25th internationally. The country's [[Defense industry of Iran|defense industry]] manufactures many types of arms and equipment. Since 1992, Iran's [[Defense Industries Organization]] (DIO) has produced its own tanks, armored personnel carriers, [[Iran's missile forces|guided missiles]], radar systems, guided missile destroyers, military vessels, submarines and fighter planes.<ref>[https://www.foxnews.com/story/iran-launches-production-of-stealth-sub Iran Launches Production of Stealth Sub] . Associated Press, May 10, 2005. Retrieved February 13, 2008.</ref> In 2006 Iran exported weapons to 57 countries, including [[NATO]] members, and exports reached $100 million.<ref>{{cite web|url=http://www.iribnews.ir/Full_en.asp?news_id=190718&n=32 |title=IRI exports warfare to 50 countries |access-date=July 20, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080213202418/http://www.iribnews.ir/Full_en.asp?news_id=190718&n=32 |archive-date=February 13, 2008 }}. [[IRIB]], April 23, 2005.</ref><ref>{{cite web|url=http://www.iribnews.ir/Full_en.asp?news_id=220656&n=12 |title=Iran exports military equipment |access-date=July 20, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20070927213942/http://www.iribnews.ir/Full_en.asp?news_id=220656&n=12 |archive-date=September 27, 2007 }}. IRIB, September 3, 2006.</ref> It has also developed a sophisticated mobile [[air defense system]] dubbed as [[Bavar 373]].<ref>{{cite news |url = http://www.payvand.com/news/11/sep/1224.html |title = Iran Nearing Production of Indigenous S-300 Missile System |work=Payvand |date = September 22, 2011 |access-date = September 6, 2015 |archive-date = September 24, 2015 |archive-url = https://web.archive.org/web/20150924115917/http://www.payvand.com/news/11/sep/1224.html }}</ref> ==== Construction and real estate ==== {{Main|Construction in Iran|Water supply and sanitation in Iran}} [[File:HEPCO Grader (1).jpg|thumb|223x223px|[[HEPCO]] motor grader (HG180D1) is working on [[Road|road construction]]]] Until the early 1950s construction remained in the hands of small domestic companies. Increased income from oil and gas and easy credit triggered a building boom that attracted international construction firms to the country. This growth continued until the mid-1970s when a sharp rise in inflation and a credit squeeze collapsed the boom. The construction industry had revived somewhat by the mid-1980s, although housing shortages and speculation remained serious problems, especially in large urban centers. As of January 2011, the [[banking in Iran|banking sector]], particularly [[Bank Maskan]], had loaned up to 102 trillion rials ($10.2 billion) to applicants of [[Construction in Iran#Mehr Housing Scheme|Mehr housing scheme]].<ref>[http://www.iran-daily.com/1389/10/23/MainPaper/3870/Page/4/Index.htm $10b Allocated for Mehr Housing]. ''Iran Daily'', January 13, 2011. Retrieved April 3, 2011.</ref> Construction is one of the most important sectors accounting for 20–50% of total private investment in urban areas and was one of the prime investment targets of well-off Iranians.<ref name=CBI2 /> Annual turnover amounted to $38.4 billion in 2005 and $32.8 billion in 2011.<ref>{{cite web|url=http://www.austrade.gov.au/Construction-to-Iran/default.aspx |title=Construction in Iran |access-date=March 6, 2007 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20070306065159/http://www.austrade.gov.au/Construction-to-Iran/default.aspx |archive-date=March 6, 2007 }}. Australian Trade (2007).</ref><ref>[http://www.prlog.org/11187248-iran-infrastructure-report-q1-2011-new-research-report-available-at-fast-market-research.html ''Iran Infrastructure Report'']. Business Monitor International (Q1 2011). Retrieved March 22, 2011.</ref> Because of poor construction quality, many buildings need seismic reinforcement or renovation.<ref>{{cite web|url=http://iran-daily.com/1388/3372/html/ |title=Housing for All |access-date=August 11, 2014 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20090615204328/http://iran-daily.com/1388/3372/html/ |archive-date=June 15, 2009 }}. ''Iran Daily'', April 13, 2009.</ref> Iran has a large [[List of dams and reservoirs in Iran|dam building industry]].<ref name=Dam>{{cite web|url=http://iran-daily.com/1385/2720/html/economy.htm |title=Simultaneous Dam, Spillways Construction Obligatory{{Snd}} 30% Drinking Water Wasted |access-date=November 29, 2006 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20071020011634/http://iran-daily.com/1385/2720/html/economy.htm |archive-date=October 20, 2007 }}. ''Iran Daily'', November 29, 2006.</ref> ==== Mines and metals ==== {{Main|Mining in Iran}} [[File:Foolad Mobarakeh50.jpg|thumb|[[Mobarakeh Steel Co.|Mobarakeh]] in [[Isfahan]] is Iran's largest [[Mining in Iran#Stell|steel mill]] listed on the [[Tehran Stock Exchange]].<ref>[http://www.iranbourse.com/LinkClick.aspx?fileticket=6bvhjROw2AI%3d&tabid=86&mid=429&forcedownload=true Monthly Bulletin] {{Webarchive|url=https://web.archive.org/web/20120318122255/http://www.iranbourse.com/LinkClick.aspx?fileticket=6bvhjROw2AI=&tabid=86&mid=429&forcedownload=true |date=March 18, 2012 }}. Tehran Stock Exchange (June 2010). Retrieved April 4, 2011.</ref>]] Mineral production contributed 0.6% of the country's GDP in 2011,{{citation needed|date=July 2021}} a figure that increases to 4% when mining-related industries are included. Gating factors include poor infrastructure, legal barriers, exploration difficulties, and government control over all resources.<ref name="Austrade">{{cite web |url = http://www.austrade.gov.au/Mining-to-Iran/default.aspx |title = Mining to Iran |access-date = February 5, 2011 |year = 2007 |publisher = [[Australian Government]] |archive-url = https://web.archive.org/web/20080723094637/http://www.austrade.gov.au/Mining-to-Iran/default.aspx |archive-date = July 23, 2008 }}</ref> Iran is ranked among the world's 15 major mineral-rich countries.<ref>{{cite web |url = http://www.infomine.com/countries/iran.asp |title = Mining in Iran |publisher = InfoMine |access-date = October 18, 2011 }}</ref> Although the petroleum industry provides the majority of revenue, about 75% of all mining sector employees work in mines producing minerals other than oil and natural gas.<ref name="Ministry of Commerce" /> These include coal, iron ore, copper, lead, zinc, chromium, [[barite]], salt, [[gypsum]], [[molybdenum]], [[strontium]], [[silica]], uranium, and gold, the latter of which is mainly a by-product of the [[Sar Cheshmeh]] copper complex operation.<ref>Philip M. Mobbs (2004): [http://www.parstimes.com/library/mineral_industry_2004.pdf The mineral industry of Iran]. Parstimes. Retrieved February 3, 2011.</ref> The mine at Sar Cheshmeh in [[Kerman Province]] is home to the world's second largest store of copper.<ref>{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/167 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |page = [https://archive.org/details/irancountrystudy00curt_2/page/167 167] |isbn = 978-0-8444-1187-3 }}</ref> Large iron ore deposits exist in central Iran, near Bafq, [[Yazd]] and Kerman. The government owns 90% of all mines and related industries and is seeking foreign investment.<ref name="Austrade" /> The sector accounts for 3% of exports.<ref name="Austrade" /> In 2019, the country was the 2nd largest world producer of [[gypsum]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-gypsum.pdf|title=USGS Gypsum Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> the 8th largest world producer of [[molybdenum]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-molybdenum.pdf|title=USGS Molybdenum Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> the world's 8th largest producer of [[antimony]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-antimony.pdf|title=USGS Antimony Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> the 11th largest world producer of [[iron ore]];<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-iron-ore.pdf|title=USGS Iron Ore Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> the 18th largest world producer of [[sulfur]],<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-sulfur.pdf|title=USGS Sulfur Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> in addition to being the 21st largest worldwide producer of [[table salt|salt]].<ref>{{Cite web|url=https://pubs.usgs.gov/periodicals/mcs2021/mcs2021-salt.pdf|title=USGS Salt Production Statistics|website=Pubs.usgs.gov|access-date=November 12, 2021}}</ref> It was the 13th largest producer in the world of [[uranium]] in 2018.<ref>{{Cite web|url=https://www.world-nuclear.org/information-library/nuclear-fuel-cycle/mining-of-uranium/world-uranium-mining-production.aspx|title=World Uranium Mining - World Nuclear Association|website=World-nuclear.org|access-date=November 12, 2021}}</ref> Iran has recoverable coal reserves of nearly 1.9 billion [[short ton]]nes. 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.<ref name="Iran">{{Cite document |title = Energy and Electricity Forecast |publisher= [[Economist Intelligence Unit]] |year = 2008 }}</ref> The country plans to increase hard-coal production to 5 million tons in 2012 from 2 million tons in November 2008.<ref name="bloomberg.com">[https://archive.today/20120728131036/http://www.bloomberg.com/apps/news?pid=20601104&sid=a1rzkB_rOKok Iran Plans to Produce 250,000 Tons of Copper in Year to March]. Bloomberg, November 28, 2008. Retrieved November 28, 2008.</ref> The main steel mills are located in Isfahan and [[Khuzestan]]. Iran became self-sufficient in steel in 2009.<ref>{{cite web|url=http://www.nitc.co.ir/iran-daily/1388/3421/html/economy.htm |title=Steel Self-sufficiency |access-date=July 23, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20110414124724/http://www.nitc.co.ir/iran-daily/1388/3421/html/economy.htm |archive-date=April 14, 2011 }}. ''Iran Daily'', June 11, 2009.</ref> Aluminum and copper production are projected to hit 245,000 and 383,000 tons respectively by March 2009.<ref name="bloomberg.com" /><ref name="ReferenceA" /> Cement production reached 65 million tons in 2009, exporting to 40 countries.<ref name="ReferenceA">[http://www.payvand.com/news/08/nov/1148.html Iran: $30 Billion Dollar to be invested in industry] {{Webarchive|url=https://web.archive.org/web/20081210031255/http://www.payvand.com/news/08/nov/1148.html |date=December 10, 2008 }}. IRNA, November 15, 2008. Retrieved November 15, 2008.</ref><ref>[http://www.tehrantimes.com/index_View.asp?code=213927 Iran exports cement to 40 countries]. ''Tehran Times'', February 8, 2010. Retrieved October 31, 2010.</ref> ==== Petrochemicals ==== {{Main|National Petrochemical Company}} [[File:Iran Oil Products.jpg|right|thumb|[[National Iranian Oil Refining and Distribution Company|Iran's refining capacity]] (2007–2013 est.)]] Iran manufactures 60–70% of its equipment domestically, including refineries, oil tankers, drilling rigs, offshore platforms, and exploration instruments.<ref>{{cite web|url=http://www.nitc.co.ir/iran-daily/1387/3265/html/economy.htm |title=Dehloran Refinery Under Construction |access-date=July 23, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20110329204835/http://www.nitc.co.ir/iran-daily/1387/3265/html/economy.htm |archive-date=March 29, 2011 }}. ''Iran Daily'', November 9, 2008.</ref><ref>{{cite web|url=http://iran-daily.com/1386/2829/html/economy.htm |title=Company Advances In Energy Capabilities |access-date=February 7, 2012 |archive-url=https://web.archive.org/web/20071020011650/http://iran-daily.com/1386/2829/html/economy.htm |archive-date=October 20, 2007 }}. ''Iran Daily'', April 29, 2007.</ref><ref>[http://niordc.ir/index.aspx?siteid=77&pageid=973&newsview=6402 Iran Ready for Sudden Cut in Gas Supplies] {{Webarchive|url=https://web.archive.org/web/20120309221859/http://niordc.ir/index.aspx?siteid=77&pageid=973&newsview=6402 |date=March 9, 2012 }}. [[Fars News Agency]], July 14, 2010. Retrieved July 26, 2010.</ref><ref>[http://www.shana.ir/155561-en.html Share of domestically made equipments on the rise] {{webarchive |url=https://web.archive.org/web/20120309074817/http://www.shana.ir/155561-en.html |date=March 9, 2012 }}. SHANA, July 18, 2010. Retrieved July 26, 2010.</ref> Based on a fertilizer plant in [[Shiraz]], the world's largest [[ethylene]] unit, in [[Asalouyeh]], and the completion of other [[National Iranian Petrochemical Company#Special industrial economic zones|special economic zone projects]], Iran's exports in petrochemicals reached $5.5 billion in 2007, $9 billion in 2008 and $7.6 billion during the first ten months of the [[Iranian calendar#Solar Hejri and Gregorian calendars|Iranian calendar year]] 2010.<ref>[http://www.shana.ir/165360-en.html Petrochemical Exports Pass $7 Billion] {{webarchive |url=https://web.archive.org/web/20110206013229/http://www.shana.ir/165360-en.html |date=February 6, 2011 }}. SHANA, January 31, 2011. Retrieved March 23, 2011.</ref> [[National Petrochemical Company]]'s output capacity will increase to over 100 million tpa by 2015 from an estimated 50 million tpa in 2010 thus becoming the world' second largest chemical producer globally after [[Dow Chemical]] with Iran housing some of the world's largest chemical complexes.<ref name=NIPC /> [[File:Jpg250210929-1120373.png|thumb|Giant gas [[Chemical reactor|reactor]] of Yadavaran gas refinery designed and manufactured by [[AzarAb Industries|AzarAb Industries Corporation]]]] [[National Iranian Oil Refining and Distribution Company|Major refineries]] located at [[Abadan, Iran|Abadan]] (site of its first refinery), Kermanshah and Tehran failed to meet domestic demand for gasoline in 2009. Iran's refining industry requires $15 billion in investment over the period 2007–2012 to become self-sufficient and end gasoline imports.<ref>[http://www.payvand.com/news/07/feb/1215.html Iran's oil refining industry needs dlrs 15b investment: Oil Minister] {{Webarchive|url=https://web.archive.org/web/20081015155554/http://www.payvand.com/news/07/feb/1215.html |date=October 15, 2008 }}. IRNA, February 17, 2007. Retrieved October 16, 2008.</ref> Iran has the fifth cheapest [[2007 Gasoline Rationing Plan in Iran#Prices in neighboring countries|gasoline prices in the world]] leading to [[2007 Gasoline Rationing Plan in Iran#Fuel smuggling|fuel smuggling with neighboring countries]].<ref>[http://www.turquoisepartners.com/iraninvestment/IIM-Jul14.pdf ''Iran Investment Monthly''] {{Webarchive|url=https://web.archive.org/web/20160303232555/http://www.turquoisepartners.com/iraninvestment/IIM-Jul14.pdf |date=March 3, 2016 }}. Turquoise Partners (July 2014). Retrieved August 16, 2014.</ref> In November 2019, Iran raised the gasoline prices by 50% and imposed [[2007 Gasoline Rationing Plan in Iran|a strict rationing system]] again, as in 2007. The prices per liter gasoline rose to 15,000 rials, where only 60 liters were permitted to private cars for a month. Besides, oil purchase beyond the limit would cost 30,000 rials per liter. Those prices are still well below [[Iranian subsidy reform plan|target prices set in the subsidy reform plan]], however. The policy changes came in effect to the [[United States sanctions against Iran|US sanctions]], and caused protests across the country.<ref>{{cite web|url=https://truenewssource.com/2019/11/16/oil-price-hike-out-of-economic-crisis-result-in-protests-across-iran/|title=Oil Price Hike Out of Economic Crisis Result in Protests Across Iran|access-date=November 16, 2019|website=True News Source}}{{Dead link|date=June 2023 |bot=InternetArchiveBot |fix-attempted=yes }}</ref> The result of the rationing, a year later, was reduced pollution and wasteful domestic consumption and increase in exports.<ref>{{Cite web|url=https://www.tehrantimes.com/news/454663/Iran-s-gasoline-rationing-scheme-from-policy-to-practice|title=Iran's gasoline rationing scheme: From policy to practice |work=Tehran Times |date=November 15, 2020}}</ref> === Services === {{See also|Education in Iran|Higher Education in Iran|Science and technology in Iran}} Despite 1990s efforts towards economic liberalization, government spending, including expenditure by quasi-governmental foundations, remains high. Estimates of service sector spending in Iran are regularly more than two-fifths of GDP, much government-related, including military expenditures, government salaries, and social security disbursements.<ref name="CIA"/> Urbanization contributed to service sector growth. Important service industries include public services (including education), commerce, personal services, professional services and tourism. The total value of transport and communications is expected to rise to $46 billion in nominal terms by 2013, representing 6.8% of Iran's GDP.<ref name="IRD">[https://web.archive.org/web/20090621094412/http://www.iran-daily.com/1388/3427/html/economy.htm Rail-Freight Transport]. ''Iran Daily'', June 12, 2007. Retrieved February 12, 2008. February 4, 2011.</ref> Projections based on 1996 employment figures compiled for the [[International Labour Organization]]<!-- TRY THE LINK. IT'S LABOUR, NOT LABOR --> suggest that Iran's transport and communications sector employed 3.4 million people, or 20.5% of the labor force in 2008.<ref name="IRD" /> ==== Energy, gas, and petroleum ==== {{Main|Energy in Iran|Petroleum industry in Iran}} {{See also|Asalouyeh|List of power stations in Iran|Iranian nuclear program}} <div class="floatright" style="width:20em; border: 1px solid #a2a9b1; margin: 0.5em 0 0.5em 1em; padding: 0.2em;"> '''[[Energy in Iran|Energy]]'''<ref name="CIA"/><br /> '''Electricity:''' *''production:'' 258 billion kWh (2014) *''consumption:'' 218 billion kWh (2014) *''exports:'' 9.7 billion kWh (2014) *''imports:'' 3.8 billion kWh (2014) '''Electricity{{Snd}} production by source:''' <imagemap> Image: Iran-electricity.gif|thumb|left|Iran plans to generate 23,000 MW of electricity through [[Nuclear program of Iran|nuclear technology]] by 2025 to meet its increasing demand for energy.<ref>[http://www.irvl.net/iran-and-nuclear-energy/ Iran and Nuclear Energy] {{webarchive |url=https://web.archive.org/web/20101215143412/http://www.irvl.net/iran-and-nuclear-energy/ |date=December 15, 2010 }}. IRVL.net. Retrieved July 26, 2010.</ref>{{subst:needs update}} </imagemap> *''fossil fuels:'' 85.6% (2012) *''hydro:'' 12.4% (2012) *''other:'' 0.8% (2012) *''nuclear:'' 1.2% (2012) '''Oil:''' *''production:'' {{convert|3300000|oilbbl/d|abbr=on}} (2015) *''exports:'' {{convert|1042000|oilbbl/d|abbr=on}} (2013) *''imports:'' {{convert|87440|oilbbl/d|abbr=on}} (2013) *''proved reserves:'' {{convert|157.8|Goilbbl|abbr=on}} (2016) '''Natural gas:''' *''production:'' 174.5 km<sup>3</sup> (2014) *''consumption:'' 170.2 km<sup>3</sup> (2014) *''exports:'' 9.86 km<sup>3</sup> (2014) *''imports:'' 6.886 km<sup>3</sup> (2014) *''proved reserves:'' 34,020 km<sup>3</sup> (2016) </div> [[File:Countries by Natural Gas Proven Reserves (2014).svg|thumb|250px|Countries by [[List of countries by natural gas proven reserves|natural gas proven reserves]], 2014, based on data from The World Factbook. Iran has the world's [[Natural gas reserves in Iran|second largest reserves]] after Russia]] Iran possesses 10% of the world's [[Iran's oil reserves|proven oil reserves]] and 15% of its [[Iran's Natural Gas Reserves|gas reserves]].<ref name="EIA">[http://www.eia.doe.gov/countries/cab.cfm?fips=IR Iran (data)]. US Department of Energy (2011). Retrieved March 28, 2011.</ref> [[List of power stations in Iran|Domestic oil and gas along with hydroelectric power facilities]] provide power.<ref name="EIA" /> [[Energy in Iran|Energy wastage in Iran]] amounts to six or seven billion dollars per year,<ref name="payvand5" /> much higher than the international norm.<ref name="RFE" /> Iran recycles 28% of its used oil and gas, whereas some other countries reprocess up to 60%.<ref name="payvand5">[http://www.payvand.com/news/08/oct/1303.html Energy Wastage In Iran Equals 6–7 Billion Dollars Per Year] {{Webarchive|url=https://web.archive.org/web/20200115095247/http://www.payvand.com/news/08/oct/1303.html |date=January 15, 2020 }}. [[IRNA]], October 29, 2008. Retrieved November 2, 2008.</ref> In 2008 Iran paid $84 billion in [[Iranian Economic Reform Plan#Subsidy reform plan|subsidies for oil, gas and electricity]].<ref name="Subsidy" /> It is the world's third largest consumer of natural gas after United States and Russia.<ref name="CIA"/> In 2010 Iran completed its first [[Bushehr Nuclear Power Plant|nuclear power plant at Bushehr]] with Russian assistance.<ref>{{Cite news|date=2010-08-21|title=Iran begins loading Bushehr nuclear reactor|language=en-GB|work=BBC News|url=https://www.bbc.com/news/world-middle-east-11045537|access-date=2022-02-19}}</ref> Iran has been a major oil exporter since 1913. The country's major oil fields lie in the central and southwestern parts of the western [[Zagros]] mountains. Oil is also found in northern Iran and in the [[Persian Gulf]]. In 1978, Iran was the fourth largest oil producer, [[OPEC]]'s second largest oil producer and second largest exporter.<ref>[http://www.parstimes.com/history/economy.html Iran's Economy]. Parstimes. Retrieved September 24, 2010.</ref> Following the 1979 revolution the new government reduced production. A further decline in production occurred as result of damage to oil facilities during the Iraq-Iran war.<ref name="auto">Barry Schweid (December 26, 2006): [http://seattletimes.nwsource.com/html/nationworld/2003494872_iranoil26.html "Iran oil industry founders"]. ''[[The Seattle Times]]''. {{webarchive |url=https://web.archive.org/web/20070513192225/http://seattletimes.nwsource.com/html/nationworld/2003494872_iranoil26.html |date=May 13, 2007 }}. [[Associated Press]]. Retrieved February 12, 2008.</ref> Oil production rose in the late 1980s as pipelines were repaired and new [[Persian Gulf|Gulf]] fields exploited. By 2004, annual oil production reached 1.4 billion barrels producing a net profit of $50 billion.<ref name="auto"/> Iranian Central Bank data show a declining trend in the share of Iranian exports from oil-products (FY 2006: 84.9%, 2007/2008: 86.5%, 2008/2009: 85.5%, 2009/2010: 79.8%, FY 2010 (first three quarters): 78.9%).<ref>{{cite web |url = http://www.cbi.ir/page/7961.aspx |title = Economic Trends No 62, Third Quarter 1389 (2010/2011), Balance of Payments, p.16 |author = Iranian National Bank |access-date = October 14, 2012 |archive-date = January 2, 2012 |archive-url = https://web.archive.org/web/20120102004422/http://www.cbi.ir/page/7961.aspx }}</ref> Iranian officials estimate that [[Ministry of Petroleum (Iran)#Revenues from crude oil|Iran's annual oil and gas revenues]] could reach $250 billion by 2015 once [[South Pars#South Pars development|current projects]] come on stream.<ref name="oil">[http://www.payvand.com/news/10/dec/1216.html Iran eyes $250 billion annual revenue in 5 years] {{Webarchive|url=https://web.archive.org/web/20110107125251/http://www.payvand.com/news/10/dec/1216.html |date=January 7, 2011 }}. Mehr News Agency, December 22, 2010. Retrieved December 22, 2010.</ref> Pipelines move oil from the fields to the [[oil refinery|refineries]] and to such exporting ports as Abadan, Bandar-e Mashur and [[Kharg Island]]. Since 1997, [[Petroleum industry in Iran|Iran's state-owned oil and gas industry]] has entered into major exploration and production agreements with [[Petroleum industry in Iran#Major foreign projects|foreign consortia]].<ref name="LOC6">{{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2/page/160 |last2 = Hooglund |first2 = Eric |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |pages = [https://archive.org/details/irancountrystudy00curt_2/page/160 160–163] |isbn = 978-0-8444-1187-3 }}</ref><ref>{{cite news |first=Marc |last=Wolfensberger |title=Iran Invites Sinopec Head to Sign $100 Billion Oil, Gas Deals |publisher=Bloomberg |date=November 25, 2006 |url=https://www.bloomberg.com/apps/news?pid=20601080&sid=aEGZ4sBCjHQE&refer=asia |access-date=November 20, 2010 |archive-url=https://web.archive.org/web/20070206111213/http://www.bloomberg.com/apps/news?pid=20601080&sid=aEGZ4sBCjHQE&refer=asia |archive-date=February 6, 2007 }}</ref> In 2008 the [[Iranian Oil Bourse]] (IOB) was inaugurated in [[Kish Island]].<ref>[https://web.archive.org/web/20090110151138/http://www2.irna.ir/en/news/view/line-203/0802173565111734.htm 1st phase of Iran oil stock inaugurated on Kish Island]. IRNA, February 17, 2008.</ref> The IOB trades petroleum, petrochemicals and gas in various currencies. Trading is primarily in the [[euro]] and rial along with other major currencies, not including the [[Petrodollar|US dollar]].{{citation needed|date=July 2021}} According to the [[Ministry of Petroleum (Iran)|Petroleum Ministry]], Iran plans to invest $500 billion in its oil sector by 2025.<ref name="nitc.co.ir">{{cite web|url=http://iran-daily.com/1387/3109/html/economy.htm |title=$500b Needed For Hydrocarbon Sector |access-date=September 2, 2012 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20081007023119/http://iran-daily.com/1387/3109/html/economy.htm |archive-date=October 7, 2008 }}. ''Iran Daily'', April 24, 2008.</ref> ==== Retail and distribution ==== {{Main|l1=Retail industry in Iran|l2=Electronic commerce in Iran|Industry of Iran#Retail industry|Communications in Iran#Electronic commerce}} [[Industry of Iran#Retail industry|Iran's retail industry]] consists largely of cooperatives (many of them [[Bonyad|government-sponsored]]), and independent retailers operating in [[bazaar]]s. The bulk of food sales occur at street markets with prices set by the Chief Statistics Bureau. Iran has 438,478 small grocery retailers.<ref name="Euromonitor" /> These are especially popular in cities other than Tehran where the number of hypermarkets and supermarkets is still very limited. More mini-markets and supermarkets are emerging, mostly independent operations. The biggest chainstores are state-owned Etka, [[Refah supermarket|Refah]], [[Shahrvand Chain Stores Inc.|Shahrvand]] and [[Iran Hyper Star|Hyperstar Market]].<ref name="Euromonitor">{{cite web |url = http://www.euromonitor.com/Retailing_in_Iran |title = Retailing in Iran |publisher = Euromonitor |date = January 2010 |access-date = November 28, 2010 |archive-date = February 28, 2010 |archive-url = https://web.archive.org/web/20100228081735/http://www.euromonitor.com/Retailing_in_Iran }}</ref> [[Electronic commerce in Iran]] passed the $1 billion mark in 2009.<ref>[https://web.archive.org/web/20090110154827/http://www2.irna.ir/en/news/view/menu-234/0812030911192309.htm Iran's e-commerce to reach rls 10,000 billion]. IRNA, December 3, 2008.</ref> In 2012, Iranians spent $77 billion on food, $22 billion on clothes and $18.5 billion on [[Tourism in Iran#Outward tourism|outward tourism]].<ref>{{Cite journal |title = Western Companies See Potential in Reaching Iran's Consumers After Nuclear Deal |journal = Wall Street Journal |date = April 6, 2015 |first = Asa |last = Fitch |author2 = Nicolas Parasie |url = https://www.wsj.com/articles/western-companies-see-potential-in-reaching-irans-consumers-after-nuclear-deal-1428313107?cb=logged0.5079263212005186 |access-date = April 9, 2015 }}</ref> In 2015, overall [[consumer spending]] and [[disposable income]] are projected at $176.4 billion and $287 billion respectively.<ref>{{Cite journal |title = In Iran, Business Deals Rarely Smooth |journal = Wall Street Journal |url-access=subscription |date = July 15, 2015 |access-date = July 27, 2015 |first = Benoit |last = Faucon |url = https://www.wsj.com/articles/in-iran-business-deals-rarely-smooth-1436917050 }}</ref> ==== Healthcare and pharma ==== {{Main|Healthcare in Iran}} {| style="margin:1em; background:#f9f9f9; border:1px #aaa solid; border-collapse:collapse; font-size:90%; float:left;" |- style="background:lightblue;" ! IRAN: Healthcare (Source: [[Economist Intelligence Unit|EIU]])<ref name=autogenerated3 /> ! 2005 ! 2006 ! 2007 ! 2008 ! 2009 ! 2010 |- | Life expectancy, average (years) | 70.0 | 70.3 | 70.6 | 70.9 | 71.1 | 71.4 |- | Healthcare spending (% of GDP) | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 | 4.2 |- | Healthcare spending ($ per head) | 113 | 132 | 150 | 191 | 223 | 261 |} [[Constitution of the Islamic Republic of Iran|The constitution]] entitles Iranians to basic [[health care]]. By 2008, 73% of Iranians were covered by the voluntary national health insurance system.<ref name=autogenerated3>{{Cite document |title = IRAN: Healthcare and Pharmaceuticals Forecast |publisher = Economist Intelligence Unit |year = 2008 }}</ref> Although over 85% of the population use an insurance system to cover their drug expenses, the government heavily subsidizes pharmaceutical production/importation. The total market value of [[Health care in Iran|Iran's health and medical sector]] was $24 billion in 2002 and was forecast to rise to $50 billion by 2013.<ref>{{cite web|url=http://www.austrade.gov.au/Health-services-and-pharmaceuticals-to-Iran/default.aspx |title=Health Sector in Iran |access-date=March 6, 2007 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080419082947/http://www.austrade.gov.au/Health-services-and-pharmaceuticals-to-Iran/default.aspx |archive-date=April 19, 2008 }}. Australian Trade (2006).</ref><ref name="BMI4">[http://www.payvand.com/news/09/apr/1027.html Iran Pharmaceuticals and Healthcare Report] {{Webarchive|url=https://web.archive.org/web/20111129222751/http://www.payvand.com/news/09/apr/1027.html |date=November 29, 2011 }}. Business Monitor International (Q2 2009). Retrieved March 24, 2010.</ref> In 2006, 55 [[Pharmaceuticals in Iran|pharmaceutical companies in Iran]] produced 96% (quantitatively) of the medicines for a market worth $1.2 billion.<ref name=autogenerated3 /><ref>{{cite web|url=http://www.austrade.gov.au/Health-services-and-pharmaceuticals-to-Iran/default.aspx |title=Health services and pharmaceuticals to Iran |access-date=March 6, 2007 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080419082947/http://www.austrade.gov.au/Health-services-and-pharmaceuticals-to-Iran/default.aspx |archive-date=April 19, 2008 }}. Australian Trade (2006).</ref><ref>{{cite web|url=http://iran-daily.com/1386/2880/html/national.htm |title=18% of Medicines Thrown Out Annually |access-date=June 30, 2007 |archive-url=https://web.archive.org/web/20071018051214/http://iran-daily.com/1386/2880/html/national.htm |archive-date=October 18, 2007 }}. ''Iran Daily'', July 1, 2007.</ref> This figure is projected to increase to $3.65 billion by 2013.<ref name="BMI4" /> ==== Tourism and travel ==== {{Main|Tourism in Iran}} [[File:Pasargades cyrus cropped.jpg|thumb|196px|[[Cyrus the Great|Cyrus]]' tomb lies in [[Pasargadae]]. Iran is home to [[Table of World Heritage Sites by country|19 historic sites]] which have been inscribed on [[UNESCO]] World Heritage List.]] Although tourism declined significantly during the war with Iraq, it has subsequently recovered. About 1,659,000 foreign tourists visited Iran in 2004 and 2.3 million in 2009 mostly from Asian countries, including the republics of [[Central Asia]], while about 10% came from the European Union and North America.<ref name="Encarta: Iran's entry">{{cite encyclopedia |encyclopedia=Microsoft Encarta |title=Iran's entry |url=http://encarta.msn.com/encyclopedia_761567300_6/Iran.html |access-date=July 24, 2010 |year=2008 |archive-url=https://web.archive.org/web/20091028171829/http://encarta.msn.com/encyclopedia_761567300_6/Iran.html |archive-date=October 28, 2009 }}</ref><ref name="Tourism">{{cite document |title = Iran Travel And Tourism Forecast |publisher = Economist Intelligence Unit |year = 2008 }}</ref> The most popular tourist destinations are [[Mazandaran]], [[Isfahan]], [[Mashhad]] and [[Shiraz]].<ref>[http://www.tehrantimes.com/PDF/10978/10978-7.pdf Sightseeing and excursions in Iran] {{webarchive |url=https://web.archive.org/web/20150418212600/http://www.tehrantimes.com/PDF/10978/10978-7.pdf |date=April 18, 2015 }}. ''Tehran Times'', September 28, 2010. Retrieved March 22, 2011.</ref> In the early 2000s the industry faced serious limitations in infrastructure, communications, industry standards and personnel training.<ref name="LOC7" /> Several organized tours from Germany, France and other European countries come to Iran annually to visit archaeological sites and monuments. In 2003 Iran ranked 68th in tourism revenues worldwide.<ref name="IRNA5">[http://www.payvand.com/news/03/sep/1037.html Iran ranks 68th in tourism revenues worldwide] {{Webarchive|url=https://web.archive.org/web/20130502003236/http://www.payvand.com/news/03/sep/1037.html |date=May 2, 2013 }}. Payvand/IRNA, September 7, 2003. Retrieved February 12, 2008.</ref> According to [[UNESCO]] and the deputy head of research for [[Cultural Heritage, Handcrafts and Tourism Organization|Iran Travel and Tourism Organization (ITTO)]], Iran is rated among the "10 most touristic countries in the world".<ref name="IRNA5" /> [[Domestic tourism]] in Iran is one of the largest in the world.<ref name=BYI>{{Cite book |last1 = Ayse |first1 = Valentine |url = http://www.investiniran.ir/en/filepool/26?redirectpage=%2fen%2febook |last2 = Nash |first2 = Jason John |last3 = Leland |first3 = Rice |title = The Business Year 2013: Iran |place = London, U.K. |publisher = The Business Year |date = January 2013 |page = 166 |isbn = 978-1-908180-11-7 |access-date = March 14, 2014 |archive-url = https://web.archive.org/web/20161227193349/http://www.investiniran.ir/en/filepool/26?redirectpage=%2Fen%2Febook |archive-date = December 27, 2016 }}</ref> ==== Banking, finance and insurance ==== {{Main|Central Bank of Iran|Islamic Economics Organization of Iran|Banking and insurance in Iran|Iranian rial}} {{See also|Shetab Banking System|Tehran Stock Exchange|Iran Mercantile Exchange}} Government loans and credits are available to industrial and agricultural projects, primarily through banks. Iran's unit of currency is the [[Iranian rial|rial]] which had an average official exchange rate of 9,326 rials to the U.S. dollar in 2007.<ref name="CIA"/> Rials are exchanged on the unofficial market at a higher rate. In 1979, the government nationalized private banks. The restructured banking system replaced interest on loans with handling fees, in accordance with [[Islamic banking|Islamic law]]. This system took effect in the mid-1980s.<ref name="LOC5" /> [[File:TEPIX.PNG|thumb|right|The [[Tehran Stock Exchange]] was one of the world's best performing stock exchanges between 1999 and 2011.<ref>[http://news.bbc.co.uk/1/hi/business/3129995.stm Iran blocks share price gains]. BBC, August 6, 2003. Retrieved February 15, 2010.</ref><ref name="businessweek1">{{cite magazine|url=http://www.businessweek.com/news/2010-07-26/tehran-exchange-trades-futures-to-attract-investors.html |title=Tehran Exchange Trades Futures to Attract Investors |magazine=BusinessWeek |date=July 26, 2010 |access-date=July 29, 2010 |archive-url=https://web.archive.org/web/20110514224859/http://www.businessweek.com/news/2010-07-26/tehran-exchange-trades-futures-to-attract-investors.html |archive-date=May 14, 2011 }}</ref>]] The [[Banking in Iran|banking system]] consists of a central bank, the [[Bank Markazi]], which issues currency and oversees all [[List of banks in Iran|state and private banks]], as well as the [[Organization of Islamic Economics]] which acts as a sort of central bank for issuing [[Qard al-Hasan]], as a parallel system in the banking sector, operating outside the purview of the Central Bank.<ref name=":0">{{Cite journal |last=Vahabi |first=Mehrdad |author-link=Mehrdad Vahabi |date=2023 |title=Destructive Coordination, Anfal and Islamic Political Capitalism |url=https://link.springer.com/book/10.1007/978-3-031-17674-6 |journal=SpringerLink |language=en |page=217 |doi=10.1007/978-3-031-17674-6 |isbn=978-3-031-17673-9}}</ref> It supervises 1200, out of 2500 Islamic loan funds, on behalf of Iran's Central Bank.<ref>{{Cite web |last= |first= |date=September 10, 2018 |title=Promoting the culture of Islamic loan funds is mandatory in the country |url=https://www.ibena.ir/fa/news/91110/%D8%AA%D8%B1%D9%88%DB%8C%D8%AC-%D9%81%D8%B1%D9%87%D9%86%DA%AF-%D9%82%D8%B1%D8%B6%E2%80%8C%D8%A7%D9%84%D8%AD%D8%B3%D9%86%D9%87-%D8%AF%D8%B1-%DA%A9%D8%B4%D9%88%D8%B1-%D8%A7%D9%84%D8%B2%D8%A7%D9%85-%D8%A7%D8%B3%D8%AA |access-date=2025-04-16 |website=Reference Media of the Central Bank |language=fa}}</ref> Several commercial banks have branches throughout the country. Two development banks exist and a housing bank specializes in home mortgages. The government began to [[Privatization in Iran#Banking and insurance|privatize the banking sector]] in 2001 when licenses were issued to two new privately owned banks.<ref name="Financials">{{Cite document |title = Iran Financial Services Forecast |publisher = Economist Intelligence Unit |year = 2008 }}</ref> State-owned commercial banks predominantly make loans to the state, ''[[bonyad]]'' enterprises, large-scale private firms and four thousand wealthy/connected individuals.<ref>{{cite web|url=http://www.iran-daily.com/1387/3238/html/ |title=Banking System Needs Overhaul |access-date=October 10, 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20081210164830/http://www.iran-daily.com/1387/3238/html/ |archive-date=December 10, 2008 }}. ''Iran Daily'', October 7, 2008.</ref><ref>{{cite web|url=http://www.iran-daily.com/1387/3240/html/ |title=President in Birjand Rally |access-date=October 10, 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20081212004832/http://www.iran-daily.com/1387/3240/html// |archive-date=December 12, 2008 }}. ''Iran Daily'', October 9, 2008.</ref> While most [[Iranian peoples|Iranians]] have difficulty obtaining small home loans, 90 individuals secured facilities totaling $8 billion.{{citation needed|date=July 2021}} In 2009, [[General Inspection Office (Iran)|Iran's General Inspection Office]] announced that [[List of banks in Iran|Iranian banks]] held some $38 billion of delinquent loans, with capital of only $20 billion.{{citation needed|date=July 2021}} Foreign transactions with Iran amounted to $150 billion of major contracts between 2000 and 2007, including private and government lines of credit.<ref>{{cite web|url=http://www.aei.org/press/26147 |title=Global Investment in Iran |access-date=January 9, 2012 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20100105235739/http://www.aei.org/press/26147 |archive-date=January 5, 2010 }}. American Enterprise Institute (2007).</ref> In 2007, Iran had $62 billion in assets abroad.<ref>[http://www.mehrnews.ir/en/NewsDetail.aspx?NewsID=510378 Iran's foreign assets surpass $62b] {{webarchive |url=https://web.archive.org/web/20080119215038/http://www.mehrnews.ir/en/NewsDetail.aspx?NewsID=510378 |date=January 19, 2008 }}. Mehr News Agency, June 30, 2007. Retrieved January 23, 2008.</ref> In 2010, Iran attracted almost $11.9 billion from abroad, of which $3.6 billion was [[Foreign Direct Investment in Iran|FDI]], $7.4 billion was from international commercial bank loans, and around $900 million consisted of loans and projects from international development banks.<ref>[http://www.turquoisepartners.com/iraninvestment/IIM-Aug11.pdf ''Iran Investment Monthly''] {{Webarchive|url=https://web.archive.org/web/20130721174158/http://www.turquoisepartners.com/iraninvestment/IIM-Aug11.pdf |date=July 21, 2013 }}. Turquoise Partners (August 2011). Retrieved January 31, 2011.</ref> As of 2010, the [[Tehran Stock Exchange]] traded the shares of more than 330 registered companies.<ref name="businessweek1" /> Listed companies were valued at $100 billion in 2011.<ref>{{cite web|url=http://www.iran-daily.com/1387/3240/html/economy.htm |title=Vast Economic Potential Lauded |access-date=October 10, 2008 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20081212201412/http://www.iran-daily.com/1387/3240/html/economy.htm |archive-date=December 12, 2008 }}. ''Iran Daily'', October 9, 2008.</ref> Insurance premiums accounted for just under 1% of GDP in 2008,<ref name="Iran"/> a figure partly attributable to low average income per head.<ref name="Iran"/> Five state-owned insurance firms dominate the market, four of which are active in commercial insurance. The leading player is the Iran Insurance Company, followed by Asia, Alborz and Dana insurances. In 2001/02 third-party liability insurance accounted for 46% of premiums, followed by health insurance (13%), fire insurance (10%) and life insurance (9.9%).<ref name="Financials"/> ==== Communications, electronics and IT ==== {{Main|Communications in Iran|Telecommunication Company of Iran|Media of Iran|}} Broadcast media, including five national radio stations and five national television networks as well as dozens of local radio and television stations are run by the government. In 2008, there were 345 telephone lines and 106 personal computers for every 1,000 residents.<ref name="WB2" /> Personal computers for home use became more affordable in the mid-1990s, since when demand for Internet access has increased rapidly. As of 2010, Iran also had the world's third largest number of [[Iranian blogs|bloggers]] (2010).<ref>[http://www.jpost.com/International/Article.aspx?id=167963 Hackers take Iran's civil war online]. ''Jerusalem Post'', February 6, 2010. Retrieved February 6, 2011</ref> In 1998, the Ministry of Post, Telegraph & Telephone, later renamed the [[Ministry of Information and Communications Technology (Iran)|Ministry of Information & Communication Technology]], began selling Internet accounts to the general public. In 2006, revenues from the Iranian telecom industry were estimated at $1.2 billion.<ref>{{cite web|url=http://www.iran-daily.com/1385/2681/html/focus.htm |title=Privatization of Telecom Companies |access-date=February 6, 2016 |archive-url=https://web.archive.org/web/20080219133406/http://www.iran-daily.com/1385/2681/html/focus.htm |archive-date=February 19, 2008 }}. ''Iran Daily'', October 9, 2006.</ref> In 2006, Iran had 1,223 Internet Service Providers (ISPs), all private sector operated.<ref>{{cite web|url=http://www.austrade.gov.au/ICT-to-Iran/default.aspx |title=Information and communications technology to Iran |access-date=May 9, 2009 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080727015312/http://www.austrade.gov.au/ICT-to-Iran/default.aspx |archive-date=July 27, 2008 }}. Australian Trade (2006).</ref> As of 2014, Iran has the largest mobile market in the Middle East, with 83.2 million mobile subscriptions and 8 million smart-phones in 2012.<ref>[http://www.innovationiseverywhere.com/iran-mobile-market-connectivity-in-2014/ Iran's Mobile Market: Connectivity in 2014]. "Innovation Is Everywhere". Retrieved July 15, 2014.</ref> According to the World Bank, Iran's information and communications technology sector had a 1.4% share of GDP in 2008.<ref name="WB2">[http://devdata.worldbank.org/ict/irn_ict.pdf ICT At-a-Glance, Iran's entry] {{webarchive |url=https://web.archive.org/web/20080727015312/http://devdata.worldbank.org/ict/irn_ict.pdf |date=July 27, 2008 }}. World Bank (login required). Retrieved February 4, 2011.</ref> Around 150,000 people work in this sector, including 20,000 in the software industry.<ref>[http://www.ebusinessforum.com/index.asp?layout=newdebi&country_id=IR Iran]. ''Economist Intelligence Unit'' (2006). Retrieved December 5, 2008.</ref> 1,200 IT companies were registered in 2002, 200 in software development. In 2014 software exports stood at $400 million.{{citation needed|date=July 2021}} By the end of 2009, Iran's telecom market was the fourth-largest in the Middle East at $9.2 billion and was expected to reach $12.9 billion by 2014 at a compound annual growth rate of 6.9%.<ref>Susan J. Campbell, Dearbhla McHenry (January 22, 2010): [http://voice-quality.tmcnet.com/topics/phone-service/articles/73387-iran-telecom-market-expected-reach-129-billion-2014.htm "Iran Telecom Market Expected to Reach $12.9 Billion by 2014"]. TMCnet/Pyramid Research. Retrieved January 24, 2010.</ref> ==== Transport ==== {{Main|Transport in Iran}} {{See also|Tehran Metro|Islamic Republic of Iran Railways|Iran Shipping Lines|Airlines of Iran}} [[File:Wagon Pars co- Arak .Iran کارخانه واگن پارس - panoramio.jpg|thumb|Locomotive production line of [[Wagon Pars]] company]] Iran has an extensive paved road system linking most towns and all cities. In 2011, the country had {{Convert|173,000|km|mi}} of roads, of which 73% were paved. In 2007 there were approximately 100 passenger cars for every 1,000 inhabitants.<ref name="Cars"/> Trains operated on {{Convert|11,106|km|mi}} of track.<ref name="CIA"/> Iran's major port of entry is [[Bandar-Abbas]] on the [[Strait of Hormuz]]. After arriving in Iran, imported goods are distributed by trucks and freight trains. The Tehran–Bandar-Abbas railroad, opened in 1995, connects Bandar-Abbas to [[Central Asia]] via Tehran and [[Mashhad]]. Other major ports include [[Bandar Anzali]] and [[Bandar Torkaman]] on the Caspian Sea and [[Khoramshahr]] and [[Bandar Imam]] Khomeini on the [[Persian Gulf]]. Dozens of cities have passenger and cargo airports. [[Iran Air]], the national airline, was founded in 1962 and operates domestic and international flights. All large cities have bus transit systems and private companies provide intercity bus services. Tehran, Mashhad, [[Shiraz]], [[Tabriz]], [[Ahvaz]] and Isfahan are constructing underground railways. More than one million people work in the transportation sector, accounting for 9% of 2008 GDP.<ref>[https://archive.today/20130210195420/http://www.zawya.com/story.cfm/sidZAWYA20081221053556 Road Construction Projects Upbeat]. ''Iran Daily'', December 21, 2008. Retrieved July 23, 2010.</ref> In August 2022, President [[Ebrahim Raisi]]'s cabinet approved a law to import fully assembled foreign cars. His predecessor President [[Hassan Rouhani]], had outlawed such imports in July 2018 due to [[Sanctions against Iran|sanctions imposed on Iran]]. Regular Iranian citizens were unable to buy safe cars at affordable prices.<ref>[https://www.aljazeera.com/news/2022/8/30/why-iran-is-ending-its-years-long-ban-on-car-imports "Why Iran is ending its years-long ban on car imports"] ''aljazeera.com''. Retrieved 1 September 2022.</ref> == International trade == {{See also|Economy of the Middle East|Economic Cooperation Organization|D-8 Organization for Economic Cooperation{{!}}Developing 8 Countries|Colombo Plan|China-Iran trade relations}} Iran is a founding member of [[OPEC]] and the [[Gas Exporting Countries Forum|Organization of Gas Exporting Countries]].<ref>[http://english.farsnews.com/newstext.php?nn=8810271643 Iran to Join Gas Exporters Club Soon] {{webarchive |url=https://web.archive.org/web/20120329131936/http://english.farsnews.com/newstext.php?nn=8810271643 |date=March 29, 2012 }}. Fars News Agency, January 17, 2010. Retrieved January 22, 2010.</ref> [[Petroleum industry in Iran|Petroleum]] constitutes 56% of Iran's exports with a value of $60.2 billion in 2018.<ref name="OPEC 2019">{{cite web |url=https://www.opec.org/opec_web/en/about_us/163.htm |title=Iran facts and figures |publisher=OPEC |access-date=July 28, 2019}}</ref> For the first time, the value of Iran's non-oil exports is expected to reach the value of imports at $43 billion in 2011.<ref>[https://archive.today/20121209015333/http://www.mehrnews.com/en/newsdetail.aspx?NewsID=1497809 VP predicts Iran's non-oil trade balance would reach zero next year]. Mehr News Agency, December 31, 2011. Retrieved January 19, 2012.</ref> [[Pistachio]]s, liquefied propane, methanol (methyl alcohol), [[Persian carpet|hand-woven carpets]] and [[Iranian automobile industry|automobiles]] are the major non-oil exports.<ref>{{Cite web |last= |date=2021-09-05 |title=Trade With Neighbors Accounts for 50% of Total Commercial Exchanges |url=https://en.eghtesadonline.com/news/786954/Trade-With-Neighbors-Accounts-for-50-of-Total-Commercial-Exchanges |access-date=2023-10-19 |website=اقتصاد آنلاین |language=en}}</ref> [[Mining in Iran#Copper|Copper]], [[Mining in Iran#Cement|cement]], [[Iranian leather industry|leather]], [[Industry of Iran#Textiles and apparel industry|textiles]], [[Fruit in Iran|fruits]], [[saffron]] and [[caviar]] are also export items of Iran. Technical and engineering service exports in FY 2007 were $2.7 billion of which 40% of technical services went to Central Asia and the Caucasus, 30% ($350 million) to Iraq, and close to 20% ($205 million) to Africa.<ref>[http://www.nitc.co.ir/iran-daily/1387/3278/html/ Engineering Service Exports Improve]{{Dead link|date=June 2023 |bot=InternetArchiveBot |fix-attempted=yes }}. ''Iran Daily'' November 24, 2008. Retrieved July 23, 2010.</ref> [[List of companies of Iran|Iranian firms]] have developed [[energy in Iran|energy]], pipelines, irrigation, dams and [[list of power stations in Iran|power generation]] in different countries. The country has made non-oil exports a priority<ref name="AFP"/> by expanding its broad industrial base, educated and motivated workforce and favorable location, which gives it proximity to an estimated market of some 300 million people in [[Caspian Sea|Caspian]], Persian Gulf and some [[Economic Cooperation Organization|ECO countries]] further east.<ref>[http://www.unido.org/index.php?id=5035 An Overview of the Economy of the Islamic Republic of Iran] {{webarchive |url=https://web.archive.org/web/20100806131137/http://www.unido.org/index.php?id=5035 |date=August 6, 2010 }}. United Nations Industrial Development Organization (UNIDO). Retrieved September 24, 2010.</ref><ref name="ECO-20120120">{{Cite web |url=http://www.ecosecretariat.org/Statistics/Stat_02_01.htm |title=Population in ECO Member States |website=[[Economic Cooperation Organization]] |access-date=September 28, 2010 |url-status=usurped |archive-url=https://web.archive.org/web/20120120034657/http://www.ecosecretariat.org/Statistics/Stat_02_01.htm |archive-date=January 20, 2012 }}</ref> Total import volume rose by 189% from $13.7 billion in 2000 to $39.7 billion in 2005 and $55.189 billion in 2009.<ref>[[Nader Habibi]] (May 5, 2005): [http://www.payvand.com/news/06/may/1046.html "The Cost of Economic Sanctions on Major Exporters to Iran"] {{Webarchive|url=https://web.archive.org/web/20110709163548/http://www.payvand.com/news/06/may/1046.html |date=July 9, 2011 }}. Payvand. Retrieved January 23, 2008.</ref> Iran's major commercial partners are [[China–Iran relations|China]], [[France–Iran relations|France]], [[Germany–Iran relations|Germany]], [[India–Iran relations|India]], [[Iran-Italy relations|Italy]], [[Iran–Japan relations|Japan]], [[Iran-Russia relations|Russia]], and [[Iran–South Korea relations|South Korea]]. From 1950 until 1978, the [[Iran–United States relations|United States]] was Iran's foremost economic and military partner, playing a major role in infrastructure and industry modernization.<ref name="documentary">{{YouTube|ek8IXhh-kII|Iran's Industrial Progresses (Part I)}}. Iran National Film Center (circa 1975). Retrieved January 20, 2010.</ref><ref name="documentary2">{{YouTube|lXSeOVZUphQ|Iran's Industrial Progresses (Part II)}}. Iran National Film Center (circa 1975). Retrieved January 20, 2010.</ref> It is reported that around 80% of machinery and equipment in Iran is of German origin.<ref>[http://tehrantimes.com/economy-and-business/117115-german-businesses-should-seize-lucrative-opportunities-in-iran-numov-ceo German businesses should seize lucrative opportunities in Iran: NUMOV CEO] {{webarchive |url=https://web.archive.org/web/20140810111042/http://tehrantimes.com/economy-and-business/117115-german-businesses-should-seize-lucrative-opportunities-in-iran-numov-ceo |date=August 10, 2014 }}. ''Tehran Times'', July 19, 2014. Retrieved July 24, 2014.</ref> In March 2018, Iran had banned Dollar in trade.<ref>[https://en.radiofarda.com/a/iran-bans-imports-based-on-us-dollars/29071168.html Ramin Mostaghim, Iran Bans Import Purchase Orders Based On US Dollars], [[Radio Farda]], March 1, 2018. Retrieved May 20, 2023.</ref> In July 2018, France, Germany and the UK agreed to continue trade with Iran without using Dollar as a medium of exchange.<ref>[https://financialtribune.com/articles/economy-business-and-markets/89445/france-germany-uk-agree-on-non-dollar-trade-with-iran France, Germany, UK Agree on Non-Dollar Trade With Iran], [[Financial Tribune]], July 9, 2018. Retrieved May 20, 2023.</ref> {| class="wikitable collapsible collapsed" |- ! colspan="2" | Top Trading Partners for Iran for 2016<ref>{{Cite web |url=http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_113392.pdf |title=Archived copy |access-date=October 2, 2017 |archive-date=October 31, 2017 |archive-url=https://web.archive.org/web/20171031204734/http://trade.ec.europa.eu/doclib/docs/2006/september/tradoc_113392.pdf }}</ref> |- | {| class="wikitable sortable" style="text-align:right" |- ! colspan="5" class="unsortable" | Imports into Iran 2016 |- style="text-align:center;" ! Ranking || Country || Value (MM USD) || % |- | style="text-align:center;" | || style="text-align:center;" | World || 57,955 || 100.0 |- | style="text-align:center;" | 1 || style="text-align:center;" | UAE || 15,958 || 27.6 |- | style="text-align:center;" | 2 || style="text-align:center;" | EU 28 || 7,755 || 13.4 |- | style="text-align:center;" | 3 || style="text-align:center;" | China || 7,604 || 13.1 |- | style="text-align:center;" | 4 || style="text-align:center;" | Turkey || 4,462 || 7.7 |- | style="text-align:center;" | 5 || style="text-align:center;" | South Korea || 2,510 || 4.3 |- | style="text-align:center;" | 6 || style="text-align:center;" | Russia || 2,298 || 4.0 |- | style="text-align:center;" | 7 || style="text-align:center;" | Switzerland || 2,110 || 3.6 |- | style="text-align:center;" | 8 || style="text-align:center;" | India || 1,307 || 2.3 |- | style="text-align:center;" | 9 || style="text-align:center;" | Singapore || 689 || 1.2 |- | style="text-align:center;" | 10 || style="text-align:center;" | Brazil || 664 || 1.1 |} | {| class="wikitable sortable" style="text-align:right" |- ! colspan="5" class="unsortable" | Exports from Iran for 2016 |- style="text-align:center;" ! Ranking || Country || Value (MM USD) || % |- | style="text-align:center;" | || style="text-align:center;" | World || 42,685 || 100.0 |- | style="text-align:center;" | 1 || style="text-align:center;" | China || 12,715 || 29.8 |- | style="text-align:center;" | 2 || style="text-align:center;" | India || 7,061 || 16.5 |- | style="text-align:center;" | 3 || style="text-align:center;" | EU 28 || 5,181 || 12.1 |- | style="text-align:center;" | 4 || style="text-align:center;" | South Korea || 4,074 || 9.5 |- | style="text-align:center;" | 5 || style="text-align:center;" | Turkey || 4,006 || 9.4 |- | style="text-align:center;" | 6 || style="text-align:center;" | Japan || 2,864 || 6.7 |- | style="text-align:center;" | 7 || style="text-align:center;" | Afghanistan || 1,737 || 4.1 |- | style="text-align:center;" | 8 || style="text-align:center;" | UAE || 829 || 1.9 |- | style="text-align:center;" | 9 || style="text-align:center;" | Taiwan || 631 || 1.5 |- | style="text-align:center;" | 10 || style="text-align:center;" | Oman || 541 || 1.3 |} |} Since the mid-1990s, Iran has increased its economic cooperation with other [[developing country|developing countries]] in "[[South–South cooperation|South–South integration]]" including [[Arab League–Iran relations#Syria|Syria]], India, [[China–Iran trade relations|China]], [[Iran-South Africa relations|South Africa]], [[Cuba–Iran relations|Cuba]], and [[Iran–Venezuela relations|Venezuela]]. Iran's trade with India passed $13 billion in 2007, an 80% increase within a year.{{citation needed|date=July 2021}} Iran is expanding its trade ties with [[Iran-Turkey relations|Turkey]] and [[Iran-Pakistan relations|Pakistan]] and shares with its partners the common objective to create a common market in West and Central Asia through [[Economic Cooperation Organization|ECO]].{{citation needed|date=July 2021}} Since 2003, [[Iran]] has increased investment in neighboring countries such as Iraq and Afghanistan. In [[Dubai]], [[Arab League–Iran relations#United Arab Emirates|UAE]], it is estimated that [[Iranian diaspora|Iranian expatriates]] handle over 20% of its domestic economy and account for an equal proportion of its population.<ref>{{cite web|url=http://iran-daily.com/1384/2481/html/economy.htm |title=Domestic Economy (Islamic WTO proposed) |access-date=December 3, 2006 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20071017220758/http://iran-daily.com/1384/2481/html/economy.htm |archive-date=October 17, 2007 }}. ''Iran Daily'', January 22, 2006.</ref><ref>{{cite web|url=http://iran-daily.com/1385/2528/html/economy.htm |title=In 2005: Import Bill From Dubai $28.7b |access-date=December 16, 2008 |archive-url=https://web.archive.org/web/20080219133355/http://iran-daily.com/1385/2528/html/economy.htm |archive-date=February 19, 2008 }}. ''Iran Daily'', April 4, 2006.</ref> Migrant Iranian workers abroad remitted less than $2 billion home in 2006.<ref>{{cite web|url=http://iran-daily.com/1386/2971/html/economy.htm |title=Overseas Workers Remit Over $2b |access-date=June 2, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080225040145/http://iran-daily.com/1386/2971/html/economy.htm |archive-date=February 25, 2008 }}. ''Iran Daily'', October 22, 2007.</ref> Between 2005 and 2009, trade between Dubai and Iran tripled to $12 billion; money invested in the local real estate market and import-export businesses, collectively known as the ''[[Bazaar]]'', and geared towards providing Iran and other countries with required consumer goods.<ref>Kambiz Foroohar (January 25, 2010): [https://www.bloomberg.com/apps/news?pid=20601102&sid=av5smtYe_DDA "Dubai Helps Iran Evade Sanctions as Smugglers Ignore U.S. Laws"] {{webarchive |url=https://web.archive.org/web/20100321165747/http://www.bloomberg.com/apps/news?pid=20601102&sid=av5smtYe_DDA |date=March 21, 2010 }}. Bloomberg. Retrieved January 26, 2010.</ref> It is estimated that [[Smuggling in Iran|one third of Iran's imported goods and exports]] are delivered through the [[black market]], underground economy, and illegal jetties, thus [[Smuggling in Iran#Damage to the economy|damaging the economy]].<ref name="RAND1">Wehrey, Frederic (2009): [http://rand.org/pubs/monographs/2008/RAND_MG821.pdf "The Rise of the Pasdaran"]. [[RAND Corporation]]. Retrieved June 10, 2010.</ref> === Foreign direct investment === {{Main|Foreign direct investment in Iran}} {{See also|Assalouyeh|Tehran International Fair|Iranian citizens abroad}} [[File:FDI Stock- Iran.png|thumb|right|[[Foreign direct investment in Iran|FDI stock in Iran (1980–2010)]]]] In the 1990s and early 2000s, indirect oilfield development agreements were made with foreign firms, including [[Foreign Direct Investment in Iran#Buy-back|buyback contracts]] in the oil sector whereby the contractor provided project finance in return for an allocated production share. Operation transferred to [[National Iranian Oil Company]] (NIOC) after a set number of years, completing the contract.<ref>{{cite web |url=http://www.atiehbahar.com/Resources/Oil&Gas.htm |title=Iran{{Snd}} Oil and gas |access-date=September 28, 2007 |archive-url=https://web.archive.org/web/20070928000413/http://www.atiehbahar.com/Resources/Oil%26Gas.htm |archive-date=September 28, 2007 }}. Atieh Bahar Consulting (2003).</ref> Unfavorable or complex operating requirements and [[Sanctions against Iran|international sanctions]] have hindered [[Foreign Direct Investment in Iran|foreign investment]] in the country, despite liberalization of relevant regulations in the early 2000s. Iran absorbed $24.3 billion of foreign investment between the [[Iranian calendar]] years 1993 and 2007.<ref>[http://www.payvand.com/news/07/may/1313.html Iran attracted $24.3 billion foreign capital in 16 years] {{Webarchive|url=https://web.archive.org/web/20070929120459/http://www.payvand.com/news/07/may/1313.html |date=September 29, 2007 }}. Mehr News Agency, May 27, 2007. Retrieved January 23, 2008.</ref> The [[Economist Intelligence Unit|EIU]] estimates that Iran's net FDI will rise by 100% between 2010 and 2014.<ref name="EIU2">[http://english.aljazeera.net/focus/2010/05/201052271814825709.html The tragicomedy of Iran sanctions]. Aljazeera, May 22, 2010. Retrieved May 22, 2010.</ref> Foreign investors concentrated their activities in the energy, vehicle manufacture, copper mining, construction, utilities, petrochemicals, clothing, food and beverages, telecom and pharmaceuticals sectors. Iran is a member of the World Bank's [[Multilateral Investment Guarantee Agency]].<ref>{{cite web|url=http://www.redorbit.com/news/science/258875/irans_third_development_plan_an_appraisal/index.html |title=Iran's Third Development Plan: an Appraisal |access-date=July 26, 2010 |last=Dr. Amuzegar |first=Jahangir |date=March 20, 2005 |archive-url=https://web.archive.org/web/20111129212318/http://www.redorbit.com/news/science/258875/irans_third_development_plan_an_appraisal/index.html |archive-date=November 29, 2011 }}</ref> In 2006, the combined net worth of [[Iranian citizens abroad]] was about 1.3 trillion dollars.<ref>{{cite web|url=http://www.iran-daily.com/1385/2781/html/economy.htm |title=Expats Worth $1.3 Trillion |access-date=March 30, 2007 |archive-url=https://web.archive.org/web/20071230222828/http://www.iran-daily.com/1385/2781/html/economy.htm |archive-date=December 30, 2007 }}. ''Iran Daily'', February 14, 2007.</ref> According to the head of [[Ministry of Economic Affairs and Finance (Iran)#Organization for Investment Economic and Technical Assistance|the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI)]], in 2008 Iran ranked 142 among 181 countries in working conditions. Iran stands at number 96 in terms of business start-ups, 165 in obtaining permits, 147 in employment, 147 in asset registration, 84 in obtaining credit, 164 in legal support for investments, 104 in tax payments, 142 in overseas trade, 56 in contract feasibility and 107 in bankruptcy.<ref>{{cite web|url=http://www.iran-daily.com/1387/3265/html/economy.htm |title=Working Conditions to Improve |access-date=November 8, 2008 |archive-url=https://web.archive.org/web/20090603071606/http://www.iran-daily.com/1387/3265/html/economy.htm |archive-date=June 3, 2009 }}. ''Iran Daily'', November 9, 2008.</ref> Firms from over 50 countries invested in Iran between 1992 and 2008, with Asia and Europe the largest participants as shown below:<ref>{{cite web|url=http://www.iran-daily.com/1387/3289/html/economy.htm |title=$34b Foreign Investment in 16 years |access-date=February 19, 2016 |archive-url=https://web.archive.org/web/20081210233037/http://www.iran-daily.com/1387/3289/html/economy.htm |archive-date=December 10, 2008 }}. ''Iran Daily'', December 7, 2008.</ref> {| style="margin:1em; background:#f9f9f9; border:1px #aaa solid; border-collapse:collapse; font-size:90%; float:center" |- style="background:lightblue;" ! Continent of origin !! Leading countries investing in Iran (1992–2008)!! Number of projects !! Total amount invested |- |Asia || India, United Arab Emirates (UAE), Singapore, Indonesia and Oman || 190 ||$11.6 billion |- |Europe || Germany, the Netherlands, Spain, UK, Turkey, Italy and France (20 countries in total) || 253 ||$10.9 billion |- | Americas ||Canada, Panama, the US and Jamaica ||7 ||$1.4 billion |- | Africa|| Mauritius, Liberia and South Africa || {{N/A}}||$8 billion |- | Australia|| Australia || 1 || $682 million |} The economic impact of a partial [[Joint Comprehensive Plan of Action|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".<ref name="Krauss">Clifford Krauss, [https://www.nytimes.com/2015/07/15/business/international/iran-nuclear-deal-oil-prices.html A New Stream of Oil for Iran, but Not Right Away], ''The New York Times'' (July 14, 2015).</ref> The consumer-goods market is expected to grow by $100 billion by 2020.<ref>{{cite news |title = P&G's Road Map to Business in Iran |author = John Letzing |newspaper = Wall Street Journal |date = July 15, 2016 |page = B1 }}</ref> In 2015, Iran was considered "a strong [[emerging market]] play" by investment and trading firms.<ref name="Krausws">[https://www.nytimes.com/2015/07/15/business/international/iran-nuclear-deal-oil-prices.html Clifford Krauss: A New Stream of Oil for Iran, but Not Right Away] ''The New York Times'', July 14, 2015. Retrieved September 18, 2015.</ref> Opening Iran's market place to [[Foreign direct investment in Iran|foreign investment]] could also be a boon to competitive multinational firms operating in a variety of manufacturing and service sectors, worth $600 billion to $800 billion in new investment opportunities over the next decade.<ref name=WSJ3>[https://blogs.wsj.com/middleeast/2014/03/12/post-sanctions-iran-could-be-a-turkey-size-win-for-investors/ Asa Fitch: Post-Sanctions Iran Could Be A Turkey-Size Win for Investors]. ''The Wall Street Journal'', March 12, 2014. Retrieved March 13, 2014.</ref><ref name=NFTC>Dean A. DeRosa & Gary Clyde Hufbauer: [http://www.nftc.org/default/trade/NFTC%20Iran%20Normalizaton%20Book.pdf "Normalization of Economic Relations"]. (U.S.) [[National Foreign Trade Council]]. November 21, 2008. Retrieved March 30, 2012.</ref><ref>[https://www.washingtonpost.com/world/middle_east/us-investors-begin-to-imagine-a-return-to-iran/2014/05/27/c5cda6d7-0c8a-442a-8577-a0726f494199_story.html Jason Rezaian: U.S. investors begin to imagine a return to Iran]. ''The Washington Post'', May 28, 2014. Retrieved June 1, 2014.</ref><ref>{{cite news |url = https://www.wsj.com/articles/oil-auto-companies-make-plans-to-invest-in-iran-if-sanctions-ease-1404257812 |title = Oil, Auto Companies Make Plans to Invest in Iran if Sanctions Ease |author = Jay Solomon |newspaper = Wall Street Journal |date = July 1, 2014 |access-date = July 5, 2014 }}</ref> === World Trade Organization === {{Main|Iran and WTO|Group of 15}} {{See also|Taxation in Iran#Customs|Middle East economic integration|Intellectual property in Iran|l1=Trade policy and customs in Iran}} [[File:Economic Cooperation Organization map.svg|thumb|A map of the [[Economic Cooperation Organization]] (ECO) member states]] Iran has held observer status at the [[World Trade Organization]] (WTO) since 2005. Although the United States has consistently blocked its bid to join the organization, observer status came in a goodwill gesture to ease nuclear negotiations between Iran and the international community.<ref>{{cite web|url=http://iran-daily.com/1386/2817/html/focus.htm |title=WTO Membership |access-date=April 9, 2010 |url-status=bot: unknown |archive-url=https://web.archive.org/web/20080215030351/http://iran-daily.com/1386/2817/html/focus.htm |archive-date=February 15, 2008 }}. ''Iran Daily'', April 15, 2007.</ref> With exports of 60 products with revealed [[comparative advantage]], Iran is the 65th "[[Economic complexity index|most complex country]]".<ref name="MIT">[http://atlas.media.mit.edu/en/profile/country/irn/ Atlas: Iran]. [[M.I.T]] (The Observatory of Economic Complexity). Retrieved December 15, 2016.</ref> Should Iran eventually gain [[Iran and WTO|membership status in the WTO]], among other prerequisites, [[Iran and copyright issues|copyrights]] will have to be enforced in the country. This will require a major overhaul. The country is hoping to attract billions of dollars' worth of foreign investment by creating a more favorable investment climate through freer trade. [[Free trade zone]]s such as [[Qeshm]], [[Chabahar Free Trade-Industrial Zone|Chabahar]], and [[Kish Island]] are expected to assist in this process. Iran allocated $20 billion in 2010 to loans for the launch of twenty trade centers in other countries.<ref>[http://english.farsnews.com/newstext.php?nn=8810261289 Iran Plans to Open Trade Centers Abroad] {{webarchive |url=https://web.archive.org/web/20120301004459/http://english.farsnews.com/newstext.php?nn=8810261289 |date=March 1, 2012 }}. Fars News Agency, January 16, 2010. Retrieved January 18, 2010.</ref> === International sanctions === See also [[Economic recession in Iran|Economic Recession in Iran]] {{Main|Sanctions against Iran|l1=International sanctions against Iran|Joint Comprehensive Plan of Action}} After the [[Iranian Revolution]] in 1979, the United States ended its [[U.S.-Iran relations|economic and diplomatic ties with Iran]], banned Iranian oil imports and froze approximately $11 billion of its assets.<ref>Suzanne Maloney (2010): [https://web.archive.org/web/20101028103217/http://iranprimer.usip.org/resource/revolutionary-economy "The Revolutionary Economy"]. United States Institute of Peace. Retrieved November 17, 2010.</ref> In 1996, the [[U.S. Government]] passed the [[Iran and Libya Sanctions Act]] (ILSA) which prohibits U.S. (and non-U.S.) companies from investing and trading with Iran in amounts of more than $20 million annually.<ref>Kenneth Katzman (2003): [https://fpc.state.gov/documents/organization/23591.pdf "The Iran-Libya Sanctions Act (ILSA)"] {{Webarchive|url=https://web.archive.org/web/20161219020121/https://fpc.state.gov/documents/organization/23591.pdf |date=December 19, 2016 }}. CRS Report for Congress. Retrieved January 23, 2008.</ref> Since 2000 exceptions to this restriction have been made for items including [[Health care in Iran#Pharmaceuticals|pharmaceuticals]] and [[Health care in Iran#Medical equipment|medical equipment]].<ref>[https://www.nytimes.com/2010/12/24/world/24sanctions.html?pagewanted=all U.S. Approved Business With Blacklisted Nations]. ''The New York Times'', December 23, 2010 (subscription required). Retrieved February 2, 2011.</ref> [[Iran's nuclear program]] has been the subject of contention with the West since 2006 over suspicions of its intentions. The [[UN Security Council]] imposed sanctions against select companies linked to the nuclear program, thus furthering the country's [[Foreign relations of Iran|economic isolation]].<ref name="WSJ2">Farnaz Fassihi: [https://www.wsj.com/articles/SB10001424052748703735804575535920875779114 Iran's Economy Feels Sting of Sanctions]. ''The Wall Street Journal'', October 12, 2010. Retrieved October 13, 2010.</ref> Sanctions notably bar nuclear, missile and many military exports to Iran and target investments in [[Petroleum industry in Iran|oil, gas and petrochemicals]], exports of refined petroleum products, as well as the [[Islamic Revolutionary Guard Corps]], [[Banking and insurance in Iran|banks, insurance]], [[Central Bank of Iran#Payment systems|financial transactions]] and [[Iran Shipping Lines|shipping]].<ref>[http://www.france24.com/en/20101130-iran-nuclear-talks-back-geneva-next-week Iran nuclear talks back on, in Geneva next week] {{dead link|date=November 2016}}. Agence France Presse (AFP), November 30, 2010. Retrieved December 2, 2010.</ref> In 2012, the [[European Union sanctions against Iran|European Union]] tightened its own sanctions by joining the [[U.S. sanctions against Iran|three decade-old US oil embargo against Iran]].<ref>{{cite news |url=https://www.reuters.com/article/us-iran-idUSTRE8031DI20120104 |title=Exclusive: EU agrees to embargo on Iranian crude |work=Reuters |access-date=September 28, 2012 |date=January 2012 |archive-date=September 19, 2012 |archive-url=https://web.archive.org/web/20120919203735/http://www.reuters.com/article/2012/01/04/us-iran-idUSTRE8031DI20120104 |url-status=live }}</ref><ref name="Embargo WSJ">{{cite news |url=https://www.wsj.com/articles/SB10001424052702303649504577496463851879258 |title=EU Embargo on Iran Oil Takes Effect |work=The Wall Street Journal |date=July 1, 2012 |access-date=September 28, 2012}}</ref> In 2015, Iran and the [[P5+1]] reached a [[Joint Comprehensive Plan of Action|deal on the nuclear program]] that will remove the main sanctions by early 2016.<ref>[http://www.al-monitor.com/pulse/originals/2015/07/job-creation-highest-priority-post-sanctions-iran.html#ixzz3h73T6PXa Bijan Khajehpour: Preventing Iran's post-sanctions job crisis] {{Webarchive|url=https://web.archive.org/web/20160811125700/http://www.al-monitor.com/pulse/originals/2015/07/job-creation-highest-priority-post-sanctions-iran.html#ixzz3h73T6PXa |date=August 11, 2016 }}. [[Al-Monitor]], July 17, 2015. Retrieved July 27, 2015.</ref> Even though Iran can trade in its own currency some problems subsist mainly due to the fact that it cannot transact in [[United States dollar|US dollars]] freely.<ref>{{cite news |url=https://www.wsj.com/articles/obama-administration-further-eases-financial-sanctions-on-iran-1475942805?emailToken=JRr8cf19YXWVhtY2Z8w73lQtZ%2BwBB%2BqIQFLMMGrDJknLsjnbvPi9x6gvwta%2Bum60AEh74dkC5G82QXjKiWxhQM6WnaU6llHhemNUqNSdjVLWaxiBzBbX |title=Obama Further Eases Financial Sanctions On Iran News|author= Jay Salomon|newspaper=The Wall Street Journal |date=October 8, 2016 |access-date=October 9, 2016}}</ref> {{citation needed span|text=Given its large [[Oil reserves in Iran|reserves of oil]] and [[Natural gas reserves in Iran|gas]], the [[Iranian rial]] could become a [[world reserve currency]] if parity is established with [[GECF|oil and gas]].|date=September 2016}}<ref>{{cite web|url=http://www.payvand.com/news/18/aug/1038.html|title=Sanctions Buster? Iran Eyes Cryptocurrency To Blunt U.S. Deterrents|website=Payvand.com|access-date=July 21, 2019|archive-date=August 8, 2018|archive-url=https://web.archive.org/web/20180808184608/http://www.payvand.com/news/18/aug/1038.html}}</ref> In 2018, the [[United States government]] unilaterally withdrew from the [[JCPOA]] agreement and re-imposed its sanctions on [[Petroleum industry in Iran|Iran's oil sales]], [[National Petrochemical Company|petrochemicals]], [[Iran Shipping Lines|shipping]], [[Mining in Iran|metals trading]] and [[Central Bank of Iran|banking transactions]].<ref>{{Cite news|url=https://www.bbc.com/news/world-middle-east-46075179|title=Trump re-imposes Iran sanctions: Now what?|work=BBC News|date=November 3, 2018}}</ref> ==== Effects ==== {{See also|Resistive economy#Iran|l1=Iranian resistance economy|Humanitarian impacts of U.S. sanctions against Iran}} [[File:Iran Air Airbus, At Imam Khomeini International Airport Refuling, loading cargo and catering during March 2016.jpg|thumb|The [[Joint Comprehensive Plan of Action]] allows Iran [[Airlines of Iran|to purchase new planes]].]] According to U.S. Undersecretary of State [[William J. Burns (diplomat)|William J. Burns]], Iran may be losing as much as $60 billion annually in energy investment.<ref name="Bloomberg 01.12.2010">{{cite news |url=https://www.bloomberg.com/news/2010-12-01/sanctions-cost-iran-60-billion-in-oil-investments-burns-says.html |title=Sanctions Cost Iran $60 Billion in Oil Investments, Burns Says |author=Flavia Krause-Jackson |date=December 1, 2010 |work=Bloomberg |access-date=February 13, 2012 |archive-url=https://web.archive.org/web/20120901104826/http://www.bloomberg.com/news/2010-12-01/sanctions-cost-iran-60-billion-in-oil-investments-burns-says.html |archive-date=September 1, 2012 }}</ref> Sanctions are making imports 24% more costly on average.<ref>[http://www.france24.com/en/20111219-iran-admits-pain-sanctions Iran admits the pain of sanctions] {{webarchive |url=https://web.archive.org/web/20120211065520/http://www.france24.com/en/20111219-iran-admits-pain-sanctions |date=February 11, 2012 }}. Agence France Presse (AFP), December 19, 2011. Retrieved January 7, 2012.</ref> In addition, [[National Defense Authorization Act for Fiscal Year 2012#Sanctions targeting the Iranian Central Bank|the latest round of sanctions]] could cost Iran annually $50 billion in lost [[Ministry of Petroleum (Iran)#Revenues from crude oil|oil revenues]].<ref>Una Galani: (March 30, 2012) [https://web.archive.org/web/20120330155406/http://blogs.reuters.com/breakingviews/2012/03/30/sanctions-could-cost-iran-50-bln/ Sanctions could cost Iran $50 bln]. Reuters. Retrieved March 30, 2012.</ref> Iran is increasingly using [[barter trade]] because its access to the international dollar payment system has been denied. According to Iranian officials, large-scale withdrawal by international companies represents an "opportunity" for [[List of Iranian companies|domestic companies]] to replace them.<ref>[https://www.google.com/hostednews/afp/article/ALeqM5jlwi1NKpiUaV0FrKpeIGQFF2d-NQ?docId=CNG.87edb35a8d312b35562231e10b3cddfa.201 Sanctions an 'opportunity' for local companies: Iran] {{webarchive |url=https://web.archive.org/web/20130318211447/https://www.google.com/hostednews/afp/article/ALeqM5jlwi1NKpiUaV0FrKpeIGQFF2d-NQ?docId=CNG.87edb35a8d312b35562231e10b3cddfa.201 |date=March 18, 2013 }}. Agence France Presse (AFP), October 14, 2010. Retrieved March 30, 2012.</ref><ref>[http://www.tehrantimes.com/index_View.asp?code=227661 Sanctions should be taken as opportunity: Larijani]. ''Tehran Times'', September 30, 2010. Retrieved March 30, 2012.</ref> The IEA estimated that Iranian exports fell to a record of 860,000 bpd in September 2012 from 2.2 million bpd at the end of 2011. This fall led to a drop in revenues and clashes on the streets of Tehran when the local currency, the [[Iranian rial|rial]], collapsed. September 2012 output was Iran's lowest since 1988.<ref name="oil exports">{{cite news |url=http://www.jpost.com/IranianThreat/News/Article.aspx?id=287607 |title=IEA: Iran's oil exports fell, may slip further |newspaper=The Jerusalem Post |agency=Reuters |date=October 12, 2012 |access-date=October 14, 2012 }}</ref> The economic impacts of sanctions have been severe. Based on research, the sanctions resulted in welfare losses across all income groups in Iran, with wealthier groups suffering greater losses compared to poorer groups.<ref>{{Cite journal |last=Oryoie |first=Ali Reza |date=2024-06-06 |title=The impact of international sanctions on income mobility: Evidence from Iran |url=https://onlinelibrary.wiley.com/doi/10.1111/rode.13123 |journal=Review of Development Economics |language=en |volume=28 |issue=4 |pages=1695–1717 |doi=10.1111/rode.13123 |issn=1363-6669}}</ref><ref>{{Cite journal |last1=Oryoie |first1=Alireza |last2=Abbasinejad |first2=Hossien |date=2017-12-01 |title=The Rise and Fall of Top Incomes in Iran 1985-2015 |url=https://ier.ut.ac.ir/article_64104.html |journal=Iranian Economic Review |language=en |volume=21 |issue=4 |pages=941–968 |doi=10.22059/ier.2017.64104 |issn=1026-6542}}</ref> Additionally, income concentration and share within top income groups declined post-sanctions.<ref>{{Cite journal |date=2021-11-18 |title=On average, differences in perceived income inequality across socio-demographic groups are slight |url=http://dx.doi.org/10.1787/6ab3fc2a-en |journal=Does Inequality Matter? |doi=10.1787/6ab3fc2a-en|isbn=978-92-64-77595-4 }}</ref> According to the U.S. Iran could reduce the world [[oil price|price of crude petroleum]] by 10%, saving the United States annually $76 billion (at the proximate 2008 world oil price of $100/bbl).<ref name=NFTC /> According to [[National Iranian American Council|NIAC]], sanctions cost the United States over $175 billion in lost trade and 279,000 lost job opportunities.<ref name=NIAC>[http://tehrantimes.com/economy-and-business/117072-iran-sanctions-cost-us-over-175b-in-lost-trade-study Iran sanctions cost U.S. over $175b in lost trade: study] {{webarchive |url=https://web.archive.org/web/20140726000726/http://tehrantimes.com/economy-and-business/117072-iran-sanctions-cost-us-over-175b-in-lost-trade-study |date=July 26, 2014}}. ''Tehran Times'', July 15, 2014. Retrieved July 24, 2014.</ref> Between 2010 and 2012, sanctions cost the [[European Union|E.U. states]] more than twice as much as the United States in terms of lost trade revenue. Germany was hit the hardest, losing between $23.1 and $73.0 billion between 2010 and 2012, with Italy and France following at $13.6-$42.8 billion and $10.9-$34.2 billion respectively.<ref name=NIAC /> GDP growth turned negative in 2013 (−5%). The unofficial unemployment rate was 20% by mid-2012. [[Petroleum industry in Iran|Oil exports]] dropped to 1.4 million bpd in 2014 from 2.5 million bpd in 2011. By 2013, Iran had $80 billion in [[Central Bank of Iran#Foreign reserves|foreign exchange reserves frozen overseas]]. [[Iranian cars|Automobile production]] declined 40% between 2011 and 2013.<ref>[https://www.bloomberg.com/news/articles/2015-03-02/what-sanctions-have-done-to-iran-s-economy Mark Glassman: What Sanctions Have Done to Iran's Economy]. Bloomberg LLP, March 2, 2015. Retrieved March 3, 2015.</ref> According to the U.S. government in 2015, Iran's economy has reached a point where it is "fundamentally incapable of recovery" without a nuclear accommodation with the West.<ref>{{Citation |last1=Solomon |first1=Jay |last2=Mauldin |first2=William |title=U.S. Treasury's Sanctions Czar Says Iran, Russia, Islamic State Weakened |journal=Wall Street Journal |url-access=subscription |date=February 1, 2015 |url=https://www.wsj.com/articles/u-s-treasurys-sanctions-czar-says-iran-needs-nuclear-deal-for-economy-1422824699 |access-date=February 7, 2015}}</ref> <blockquote>The tentative rapprochement between [[United States-Iran relations|Iran and the US]], which began in the second half of 2013, has the potential to become a world-changing development, and unleash tremendous [[New world order (politics)#Recent political usage|geopolitical]] and [[business opportunity|economic opportunities]], if it is sustained […] if Iran and the US were to achieve a diplomatic breakthrough, geopolitical tensions in the [[Middle East]] could decline sharply, and Iran could come to be perceived as a promising [[emerging market]] in its own right.<ref>{{cite web |title=Iran-US Rapprochement: Historic Opportunities Beckon |publisher=Business Monitor International |date=January 10, 2014 |url=http://store.businessmonitor.com/iran-us-rapprochement-historic-opportunities-beckon.html |archive-url=https://web.archive.org/web/20140521083824/http://store.businessmonitor.com/iran-us-rapprochement-historic-opportunities-beckon.html |archive-date=May 21, 2014 }}</ref></blockquote> In January 2019, President [[Hassan Rouhani]] blamed the US for Iran's declining economy. Following the US pullout from an international nuclear deal with Iran and re-imposed sanctions, Iran faced the toughest economic situation in 40 years.<ref>{{cite news|url= https://www.nytimes.com/2019/01/30/world/middleeast/iran-economy.html|title=Iran Faces Worst Economic Challenge in 40 Years, President Says|newspaper=The New York Times|date=January 30, 2019 |access-date=January 30, 2019|last1=Erdbrink |first1=Thomas }}</ref> According to [[Majlis]], this has caused damages estimated between 150 and 200 billion dollars to the Iranian economy.<ref>{{Cite web|url=https://www.tehrantimes.com/news/454945/U-S-Europe-should-pay-Iran-200-billion-in-compensation-over|title=U.S., Europe should pay Iran $200 billion in compensation over JCPOA failure: Senior MP|date=November 22, 2020}}</ref> In August 2024, an Iranian group called IRLeaks attacked Iranian banks. [[Politico]] described the attack as the "worst cyberattack" in Iranian history.<ref name=":12">{{Cite web |date=2024-09-04 |title=Iran pays millions in ransom to end massive cyberattack on banks, officials say |url=https://www.politico.eu/article/iran-millions-ransom-massive-cyberattack-banks/ |access-date=2024-09-09 |website=POLITICO |language=en-GB}}</ref><ref>{{Cite web |title=Iran interrogating software firm at epicenter of 'worst-ever' bank hack |url=https://www.iranintl.com/en/202409048166 |access-date=2024-09-09 |website=Iran International |date=September 6, 2024 |language=en}}</ref> According to [[Politico]], the Iranian government was forced to pay millions of dollars to IRLeaks in ransom.<ref name=":12" /> Politico reported that 20 out of about 29 Iranian credit institutions fell in the attack.<ref>{{Cite web |title=List of Banks in Iran |url=https://www.globalbankingandfinance.com/list-of-banks-in-iran/ |website=Global Banking and Finance review|date=June 13, 2012 }}</ref><ref name="Asharq Al Aswat">{{Cite news |date=6 September 2024 |title=Iran Pays Millions in Ransom to End Cyberattack on Banks |url=https://english.aawsat.com/world/5058187-iran-pays-millions-ransom-end-cyberattack-banks |work=Asharq Al Aswat}}</ref><ref name=":12" /> The Iranian supreme leader blamed Israel and the United States without mentioning the cyberattack on the banking system. Politico remarked it was plausible Israel or the US were involved because of tensions with Israel as well as the Americans having accused Iran of intervening in the American 2024 elections.<ref>{{Cite news |last=Sebin |first=Sam |date=16 August 2024 |title=Iran is now the biggest foreign threat to the 2024 elections |url=https://www.axios.com/2024/08/16/iran-foreign-interference-2024-presidential-election |work=Axios}}</ref><ref>{{Cite web |last=Watts |first=Clint |date=2024-08-09 |title=Iran Targeting 2024 US Election |url=https://blogs.microsoft.com/on-the-issues/2024/08/08/iran-targeting-2024-us-election/ |access-date=2024-09-09 |website=Microsoft On the Issues |language=en-US}}</ref> Politico also remarked that the group was made of freelance hackers and the attack was likely carried out for monetary gain.<ref name=":12"/> TechCentral said the attack was probably carried out by freelance hackers.<ref name=":022">{{Cite web |last=Kitson |first=Niall |date=2024-09-06 |title=Cyber attack on Iran's banking system exposes sensitive data |url=https://www.techcentral.ie/cyber-attack-on-irans-banking-system-exposes-sensitive-data-a-risk-to-stability/ |access-date=2024-09-09 |website=TechCentral.ie |language=en-GB}}</ref> An Iranian firm paid the hackers no less than $3 million to IRLeaks to stop the attack and retrieve data.<ref name=":12" /> == See also == {{Portal|Iran|Business and economics|Technology|Energy|Money}} <!--PLEASE MAINTAIN THE SERIES BELOW IN ALPHABETICAL ORDER.--> * [[Corruption in Iran]] * [[Central Bank of Iran#Digital currency|Electronic currency in Iran]] ** [[Virtual currency law in Iran]] * [[Energy superpower]] * [[Foreign relations of Iran]] * [[Iranian calendar]] * [[International rankings of Iran#Economy|Iran's international rankings in economy]] * [[Iranian targeted subsidy plan]] * [[Smuggling in Iran]] * [[Venture capital in Iran]] * [[IRLeaks attack on Iranian banks]] * [[Cryptocurrency in Iran]] * [[Economic activities of the Iranian Revolutionary Guard Corps]] ;Lists * [[List of Iranians by net worth]] * [[List of Iranian companies]] * [[:Category:Iranian economists|List of Iranian economists]] * [[List of major economic laws in Iran]] ;Institutions * ''[[Donya-e-Eqtesad]]''{{Snd}} leading Iranian business newspaper * [[Government of Iran]]{{Snd}} with links to ministries and affiliated agencies * [[International Iranian Economic Association]] * [[Iran Chamber of Commerce Industries and Mines]]{{Snd}} with links to information on commercial [[dispute resolution]] * [[Ministry of Economic Affairs and Finance (Iran)]] ** [[Iranian National Tax Administration]] * [[Ministry of Industries and Business (Iran)]]{{Snd}} merger of [[Ministry of Commerce (Iran)|Ministry of Commerce]] with [[Ministry of Industries and Mines (Iran)|Ministry of Industries and Mines]] * [[Ministry of Petroleum (Iran)]] * [[National Development Fund]]{{Snd}} Iran's [[sovereign wealth fund]] * [[Ravand Institute]]{{Snd}} Iran's "[[World Economic Forum|Davos Forum]]" * [[Supreme Audit Court of Iran]] == Notes == {{Reflist|30em}} {{reflist|group=note}}<ref>{{Cite web |date=Dec 27, 2021 |title=Iran's GDP stands at $1tr despite the economic war |url=https://www.tehrantimes.com/news/468483/Iran-s-GDP-stands-at-1tr-despite-economic-war |access-date=Dec 27, 2021 |website=Tehran Times}}</ref> == General references == <!--Sorted by type and date of publication--> '''''Encyclopædia Iranica'' entries''' {{Refbegin|40em}} * {{cite encyclopedia | title = ECONOMY viii. IN THE QAJAR PERIOD | last = Hakimian | first = Hassan | url = https://iranicaonline.org/articles/economy-viii-in-the-qajar-period | encyclopedia = Encyclopaedia Iranica |volume=VIII, Fasc. 2 | pages = 138–143 | year = 1997 }} * {{cite encyclopedia | title = ECONOMY x. UNDER THE ISLAMIC REPUBLIC | last = Nowshirvani | first = Vahid F. | url = https://iranicaonline.org/articles/economy-x-under-the-islamic-republic | encyclopedia = Encyclopaedia Iranica |volume=VIII, Fasc. 2 | pages = 156–163 | year = 1999 }} * {{cite encyclopedia | title = ECONOMY ix. IN THE PAHLAVI PERIOD | last = Pesaran | first = M. Hashem | url = https://iranicaonline.org/articles/economy-ix | encyclopedia = Encyclopaedia Iranica |volume=VIII, Fasc. 2 | pages = 143–156 | year = 1997 }} {{Refend}} '''Articles''' {{Refbegin|40em}} * {{cite news|title = Can Iran combat corruption in petroleum sector?|first1 = Bijan|last1 = Khajehpour|url = https://www.al-monitor.com/pulse/originals/2019/08/corruption-iran-petroleum-sector-economy.html|access-date = February 2, 2020|date = August 9, 2019|newspaper = [[Al-Monitor]]}} * {{cite news|title = Blind subsidy system costing economy greatly|first1 = M.A.|last1 = Saki|url = https://www.tehrantimes.com/news/433706/Blind-subsidy-system-costing-economy-greatly|access-date = June 21, 2019|date = March 5, 2019|newspaper = [[Tehran Times]]}} * {{cite news |title = Why Fuel Is Smuggled Out Of Iran And Why No One Stops It |url = https://en.radiofarda.com/a/iran-fuel-gasoline-smuggling-sanctions/29783028.html |access-date = July 18, 2019 |date = February 21, 2019 |publisher = [[Radio Farda]] }} * {{cite news|title = Why Iran Needs a War Economy|first1 = Ismael|last1 = Hossein-Zadeh|author-link = Ismael Hossein-zadeh|url = http://www.payvand.com/news/18/nov/1039.html|access-date = December 22, 2018|date = November 9, 2018|publisher = Payvand.com|archive-date = May 2, 2019|archive-url = https://web.archive.org/web/20190502004654/http://www.payvand.com/news/18/nov/1039.html}} * {{cite news |title = Preventing Iran's post-sanctions job crisis |first1 = Bijan |last1 = Khajehpour |work = Atieh Group |url = http://www.al-monitor.com/pulse/originals/2015/07/job-creation-highest-priority-post-sanctions-iran.html# |access-date = July 27, 2015 |date = July 17, 2015 |publisher = [[Al-Monitor]] |archive-url = https://web.archive.org/web/20160811125700/http://www.al-monitor.com/pulse/originals/2015/07/job-creation-highest-priority-post-sanctions-iran.html |archive-date = August 11, 2016 }} * {{cite news |title = How the nuclear deal will help Iran's economy |work = Atieh Group |url = http://www.al-monitor.com/pulse/originals/2015/04/economic-impact-iran-nuclear-deal.html# |access-date = April 12, 2015 |date = April 10, 2015 |first1 = Bijan |last1 = Khajehpour |publisher = [[Al-Monitor]] }} * {{cite news |title = Iran's Neoliberal Austerity-Security Budget |work = [[Hooshang Amirahmadi]] |url = http://www.payvand.com/news/15/feb/1076.html |access-date = February 21, 2015 |date = February 16, 2015 |publisher = Payvand.com |archive-date = August 21, 2016 |archive-url = https://web.archive.org/web/20160821225253/http://www.payvand.com/news/15/feb/1076.html }} * {{cite news |title = Iran's new budget to focus on privatization, subsidy reforms |work = Atieh Group |url = http://www.al-monitor.com/pulse/originals/2015/01/iran-economic-forecast-2015.html |access-date = February 2, 2015 |date = January 8, 2015 |first1 = Bijan |last1 = Khajehpour |publisher = [[Al-Monitor]] }} * {{cite news |title = Iran Lures Investors Anticipating Nuclear Deal May End Sanctions |url = https://www.bloomberg.com/news/2014-08-17/iran-lures-investors-seeing-nuclear-deal-ending-sanctions.html |access-date = August 20, 2014 |date = August 17, 2014 |first1 = Jeremy |last1 = Khan |publisher = [[Bloomberg News]] }} * {{cite news |title = Assets of the Ayatollah |work = [[Reuters]] |url = https://www.reuters.com/investigates/iran/ |access-date = December 7, 2013 |date = November 11, 2013 |first1 = Steve |last1 = Stecklow |first2 = Babak |last2 = Dehghanpisheh |first3 = Yeganeh |last3 = Torbati }} * {{cite news |title = Iran's bold economic reform{{Snd}} Economic jihad |newspaper = [[The Economist]] |url = http://www.economist.com/node/18867440 |access-date = April 7, 2012 |date = June 23, 2011 }} * {{cite web |title = Where Did Iran's Islamic Economy Come From and Where Did it Go? |url = http://www.payvand.com/news/10/oct/1199.html |publisher = Payvand.com |date = October 25, 2010 |access-date = October 25, 2010 |first = Sohrab |last = Behdad |archive-date = October 28, 2010 |archive-url = https://web.archive.org/web/20101028150310/http://www.payvand.com/news/10/oct/1199.html }} * {{cite news |title = Iran's economic self-mutilation |url = http://www.atimes.com/atimes/Middle_East/JH26Ak01.html |archive-url = https://web.archive.org/web/20081121221444/http://www.atimes.com/atimes/Middle_East/JH26Ak01.html |url-status = unfit |archive-date = November 21, 2008 |work = [[Asia Times Online]] |date = August 26, 2008 |access-date = October 18, 2010 |first = Hossein |last = Askari }} * {{cite news |title=Ambitious modernization program for the Tehran Stock Exchange |url=http://www.albawaba.com/news/iran-%E2%80%93-ambitious-modernization-program-tehran-stock-exchange |access-date=October 18, 2010 |date=June 22, 2007 |work=Global Investment House |archive-url=https://web.archive.org/web/20121115064200/http://www.albawaba.com/news/iran-%E2%80%93-ambitious-modernization-program-tehran-stock-exchange |archive-date=November 15, 2012 }} * {{cite web |title = Inside Iran's Holy Money Machine |url = https://www.wsj.com/news/articles/SB118072271215621679 |date = June 2, 2007 |access-date = July 23, 2014 |first = Andrew |last = Higgins |work = [[The Wall Street Journal]] |archive-url = https://web.archive.org/web/20160314151542/http://www.wsj.com/news/articles/SB118072271215621679 |archive-date = March 14, 2016 }} * {{cite news |title = Still failing, still defiant |newspaper = [[The Economist]] |url = http://www.economist.com/node/3471508 |date = December 9, 2004 |access-date = July 23, 2014 }} * {{cite news |title = Millionaire Mullahs |work = [[Forbes]] |url = https://www.forbes.com/forbes/2003/0721/056.html |date = July 21, 2003 |access-date = March 16, 2008 |first = Paul |last = Klebnikov |author-link = Paul Klebnikov }} {{Refend}} '''Books''' {{Refbegin|40em}} * {{cite book |last = Suzanne |first = Maloney |url = https://books.google.com/books?id=6aIyCgAAQBAJ&q=Iran%27s+Political+Economy+since+the+Revolution&pg=PA13 |title = Iran's Political Economy since the Revolution |place = New York, USA |publisher = [[Cambridge University Press]] |date = June 2015 |isbn = 978-0-521-73814-9 }} * {{cite book |last = Amuzegar |first = Jahangir |author-link = Jahangir Amuzegar |url = https://books.google.com/books?id=rY2bBAAAQBAJ&q=The%20Islamic%20Republic%20of%20Iran%3A%20Reflections%20on%20an%20Emerging%20Economy&pg=PP1 |title = The Islamic Republic of Iran: Reflections on an Emerging Economy |place = New York, USA |publisher = [[Routledge]] |date = October 2014 |isbn = 978-1-85743-748-5 }} * {{cite book |last1 = Parvin |first1 = Alizadeh |url = https://books.google.com/books?isbn=1317963008 |last2 = Hakimian |first2 = Hassan |title = Iran and the Global Economy: Petro Populism, Islam and Economic Sanctions |place = London, U.K. |publisher = [[Routledge]] |date = December 2013 |isbn = 978-1-315-86720-5 }} * {{Cite book |last1 = Ayse |first1 = Valentine |url = http://www.thebusinessyear.com/publication/overview/15/iran-2013 |last2 = Nash |first2 = Jason John |last3 = Leland |first3 = Rice |title = The Business Year 2013: Iran |place = London, U.K. |publisher = The Business Year |date = January 2013 |archive-url = https://web.archive.org/web/20150327120712/http://www.thebusinessyear.com/publication/overview/15/iran-2013 |archive-date = March 27, 2015 |isbn = 978-1-908180-11-7 }} * {{Cite book |last1 = Nash |first1 = Jason John |url = http://www.thebusinessyear.com/publication/7/iran-2011 |last2 = Sasmaz |first2 = Aytng |title = The Business Year 2011: Iran |place = London, U.K. |publisher = The Business Year |date = January 2011 |archive-url = https://web.archive.org/web/20140417043321/http://www.thebusinessyear.com/publication/7/iran-2011 |archive-date = April 17, 2014 |isbn = 978-1-908180-00-1 }} * {{Cite book |last = Gheissari |first = Ali |url = https://books.google.com/books?id=GcmjCqsgN3gC&q=Contemporary+Iran:+Economy,+Society,+Politics |title = Contemporary Iran: Economy, Society, Politics |place = New York, USA |publisher = [[Oxford University Press]] |date = April 2009 |isbn = 978-0-19-537849-8 }} * {{Cite book |last = Wehrey |first = Frederic |url = https://www.rand.org/pubs/monographs/MG821/ |title = The Rise of the Pasdaran: Assessing the Domestic Roles of Iran's Islamic Revolutionary Guards Corps |format = PDF |place = Santa Monica, California, USA |publisher = [[RAND Corporation]] |year = 2009 |isbn = 978-0-8330-4620-8 }} * {{Cite book |last1 = Curtis |first1 = Glenn |url = https://archive.org/details/irancountrystudy00curt_2 |last2 = Hooglund |first2 = Eric |author2-link = Eric Hooglund |title = Iran, a country study |place = Washington, D.C., USA |publisher = [[Library of Congress]] |date = April 2008 |isbn = 978-0-8444-1187-3 }} * {{Cite book |url = http://www.imf.org/External/Pubs/NFT/2007/iran/market/market.pdf |title = Islamic Republic of Iran: Managing the Transition to a Market Economy |last1 = Jbili |first1 = A. |last2 = Kramarenko |first2 = V. |last3 = Bailén |first3 = J. M. |publisher = [[International Monetary Fund]] |date = March 2007 |isbn = 978-1-58906-441-6 }} * {{Cite book |last = Mohammadi |first = Ali |url = https://books.google.com/books?id=lQnt2r5XzkQC |title = Iran encountering globalization: problems and prospects |place = London, U.K. |publisher = [[Routledge]] |date = April 2003 |isbn = 978-0-415-30827-4 }} * {{Cite book |last1 = Parvin |first1 = Alizadeh |url = https://books.google.com/books?id=zu8q4fvh26sC |last2 = Hakimian |first2 = Hassan |title = The Economy of Iran: Dilemmas of an Islamic State |place = London, U.K. |publisher = [[I. B. Tauris]] |date = March 2001 |isbn = 978-1-86064-464-1 }} * {{cite book |last = Homa |first = Katouzian |author-link = Homa Katouzian |url = https://books.google.com/books?id=klmuCwAAQBAJ&q=The%20Political%20Economy%20of%20Modern%20Iran%3A%20Despotism%20and%20Pseudo-Modernism%2C%201926%E2%80%931979&pg=PA51 |title = The Political Economy of Modern Iran: Despotism and Pseudo-Modernism, 1926–1979 |place = London, U.K. |publisher = [[Macmillan Publishers]] |date = 1981 |isbn = 978-1-349-04778-9 }} {{Refend}} '''Governments''' {{Refbegin|40em}} * {{Cite web |title = Annual Review 2013/14 |website= [[Central Bank of Iran]] |date = February 2015 |url = http://www.cbi.ir/Newestdoc.aspx?id=0&dn=AnnualReview_en&dl=1 |format = PDF |access-date = August 22, 2015 |archive-date = May 2, 2019 |archive-url = https://web.archive.org/web/20190502004721/https://www.cbi.ir/Newestdoc.aspx?id=0&dn=AnnualReview_en&dl=1 }} * {{Cite web |title = Annual Review 2012/13 |website= [[Central Bank of Iran]] |date = July 2014 |url = http://www.cbi.ir/page/11992.aspx |format = PDF |access-date = August 8, 2014 |archive-date = August 8, 2014 |archive-url = https://web.archive.org/web/20140808223618/http://www.cbi.ir/page/11992.aspx }} * {{Cite web |title = A Review of the Iranian Tax System |website= [[Ministry of Economic Affairs and Finance (Iran)#Organization of Investment and Economic and Technical Assistance|Organization for Investment Economic and Technical Assistance of Iran]] |date = January 2014 |url = http://www.oietai.ir/en/whyiran1/tax |archive-url = https://web.archive.org/web/20140907125747/http://www.oietai.ir/en/whyiran1/tax |archive-date = September 7, 2014 }} * {{Cite web |last = Katzman |first = Kenneth |title = Iran Sanctions |website= [[U.S. Congressional Research Service]] |date = January 2014 |url = https://fas.org/sgp/crs/mideast/RS20871.pdf }} * {{Cite web |title = Memorandum of the foreign trade regime of Iran |website= [[Ministry of Commerce (Iran)]] |date = November 2009 |url = http://www.irantradelaw.com/wp-content/uploads/2010/03/Irans-Foreign-Trade-Regime-Report.pdf |archive-url = https://web.archive.org/web/20110713054415/http://www.irantradelaw.com/wp-content/uploads/2010/03/Irans-Foreign-Trade-Regime-Report.pdf |archive-date = July 13, 2011 }} * {{Cite web |last = Ilias |first = Shayerah |title = Iran's Economy |publisher = [[U.S. Congressional Research Service]] |date = June 2008 |url = https://fpc.state.gov/documents/organization/107234.pdf }} * {{Cite web |website=Austrade|title =Doing Business in Iran|year =2006|url =http://www.austrade.gov.au/australia/layout/0,,0_S2-1_CLNTXID0019-2_-3_PWB1151550-4_doingbusiness-5_-6_-7_,00.html|archive-url =https://web.archive.org/web/20060525004735/http://www.austrade.gov.au/australia/layout/0%2C%2C0_S2-1_CLNTXID0019-2_-3_PWB1151550-4_doingbusiness-5_-6_-7_%2C00.html|archive-date =May 25, 2006|author-link =Austrade}} * {{Cite web |website= Ministry of Commerce (Iran) |title = The National Report on E-Commerce in Iran |year = 2004 |url = http://www.irtp.com/laws/re/NATIONAL%20REPORT%202004.pdf |url-status= usurped |archive-url = https://web.archive.org/web/20060427124845/http://www.irtp.com/laws/re/NATIONAL%20REPORT%202004.pdf |archive-date = April 27, 2006}} * {{Cite web |website=Management and Planning Organization of Iran |title=Millennium Development Goals |year=2004 |url=http://www.mporg.ir/Iran+MDG+Report+2004.pdf |archive-url=https://web.archive.org/web/20071128182514/http://www.mporg.ir/Iran%20MDG%20Report%202004.pdf |archive-date=November 28, 2007 |author-link=Management and Planning Organization of Iran }} * {{Cite periodical |title=Basic Data on the Economy Of Iran |periodical=Overseas Business Reports |date=December 1971|publisher=U.S. Department of Commerce |url=https://books.google.com/books?id=yf05D9WrMPcC&q=economy+of+Iran}} {{Refend}} '''Papers''' {{Refbegin|40em}} * {{Cite web |title = Science, Technology and Innovation Policy Review{{Snd}} The Islamic Republic of Iran |website= [[United Nations Conference on Trade and Development]] |year = 2016 |url = http://unctad.org/en/PublicationsLibrary/dtlstict2016d3_summary_en.pdf |access-date = December 7, 2016 |archive-date = December 20, 2016 |archive-url = https://web.archive.org/web/20161220085442/http://unctad.org/en/PublicationsLibrary/dtlstict2016d3_summary_en.pdf }} * {{cite web |title = Iran: Concluding Statement of an IMF Staff Visit |url = http://www.imf.org/en/News/Articles/2016/10/03/MS100316-Iran-Concluding-Statement-of-an-IMF-Staff-Visit |access-date = December 12, 2016 |date = October 3, 2016 |website= [[International Monetary Fund]] }} * {{Cite web |title = Entrepreneurship Ecosystem in Iran |website= Iran Entrepreneurship Association |date = Winter 2014 |url = http://www.cgiran.org/main/images/files/20140429102612_IranEntrepreneurshipEcosystemReport-IEA2013-v2.pdf |url-status = usurped |archive-url = https://web.archive.org/web/20150913025022/http://www.cgiran.org/main/images/files/20140429102612_IranEntrepreneurshipEcosystemReport-IEA2013-v2.pdf |archive-date = September 13, 2015 }} * {{Cite web |title = Islamic Republic of Iran |website= [[International Monetary Fund]] |date = April 2014 |url = http://www.imf.org/external/pubs/ft/scr/2014/cr1493.pdf }} * {{Cite web |title =Investment Guide To Iran|website=Atieh Bahar Consulting|date =February 2014|url =http://www.atiehbahar.com/eninvestmentText/103/Iran-Investment-Guide/default.aspx|archive-url =https://web.archive.org/web/20140317015123/http://www.atiehbahar.com/eninvestmentText/103/Iran-Investment-Guide/default.aspx|archive-date =March 17, 2014}} * {{Cite web |title = Regional Economic Outlook: Middle East and Central Asia |website= [[International Monetary Fund]] |date = April 2011 |url = http://www.imf.org/external/pubs/ft/reo/2011/mcd/eng/pdf/mreo0411.pdf }} * {{Cite web |title = Regional Economic Outlook: Middle East and Central Asia |website= [[International Monetary Fund]] |date = October 2010 |url = http://www.imf.org/external/pubs/ft/reo/2010/mcd/eng/10/mreo1024.pdf }} * {{Cite journal |last = Salehi-Isfahani |first = Djavad |author-link = Djavad Salehi-Isfahani |title = Iranian Youth in Times of Economic Crisis |date =November 2011 |url = http://filebox.vt.edu/users/salehi/Iranian%20youth.pdf |journal =Iranian Studies |volume=44 |issue=6 |pages = 789–806 |doi = 10.1080/00210862.2011.570510 |access-date = September 1, 2012 |archive-date = May 3, 2013 |archive-url = https://web.archive.org/web/20130503182833/http://filebox.vt.edu/users/salehi/Iranian%20youth.pdf }} * {{Cite web |author = IMF Staff Report |title = Islamic Republic of Iran |website= [[International Monetary Fund]] |date = March 2010 |url = http://www.imf.org/external/pubs/ft/scr/2010/cr1074.pdf }} * {{Cite web |title = Economic Prospects for the Middle East and North Africa Region |website= [[World Bank]] |date = January 2010 |url = http://siteresources.worldbank.org/INTGEP2010/Resources/GEP2010Summer2010-MENAAnnex.pdf }} * {{Cite web |title = Normalization of Economic Relations: Consequences for Iran's Economy and the United States |website=[[National Foreign Trade Council]] |year = 2008 |url = http://www.nftc.org/default/trade/NFTC%20Iran%20Normalizaton%20Book.pdf }} * {{Cite report |title=The N-11: More Than an Acronym |publisher=[[Goldman Sachs]] |date=March 2007 |url=http://www.chicagobooth.edu/alumni/clubs/pakistan/docs/next11dream-march%20%2707-goldmansachs.pdf |archive-url=https://web.archive.org/web/20100331050553/http://www.chicagobooth.edu/alumni/clubs/pakistan/docs/next11dream-march%20%2707-goldmansachs.pdf |archive-date=March 31, 2010 }} * {{Cite web |title = Science, Technology and Innovation Policy Review – The Islamic Republic of Iran |website= [[United Nations Conference on Trade and Development]] |date = February 2005 |url = http://unctad.org/en/docs/iteipc20057_en.pdf }} * {{Cite web |title = Small and Medium Enterprises in Iran |website= [[United Nations Industrial Development Organization]] |year = 2003 |url = http://www.unido.org/fileadmin/user_media/Publications/Pub_free/Strategy_document_to_enhance_contribution_of_efficient_and_competitive_SME_sector%20_in_Iran.pdf |access-date = January 31, 2010 |archive-date = September 3, 2013 |archive-url = https://web.archive.org/web/20130903060902/http://www.unido.org/fileadmin/user_media/Publications/Pub_free/Strategy_document_to_enhance_contribution_of_efficient_and_competitive_SME_sector%20_in_Iran.pdf }} * {{Cite report |last = Nichols |first = Brian |author2 = Sahay, Sundeep |title = Building Iran's Software Industry |publisher=[[University of Manchester]] |year = 2003 |url = http://unpan1.un.org/intradoc/groups/public/documents/NISPAcee/UNPAN015616.pdf |access-date = March 22, 2014 |archive-date = March 4, 2016 |archive-url = https://web.archive.org/web/20160304042110/http://unpan1.un.org/intradoc/groups/public/documents/NISPAcee/UNPAN015616.pdf |via=United Nations}} * {{Cite web |title=Islamic Republic of Iran{{Snd}} Services for Agriculture and Rural Development |website=[[World Bank]] |date=June 1994 |url=http://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/1994/06/20/000009265_3961004234937/Rendered/PDF/multi_page.pdf |archive-url=https://web.archive.org/web/20080723090455/http://www.austrade.gov.au/Agribusiness-to-Iran/default.aspx |archive-date=July 23, 2008 }} {{Refend}} == External links == {{Wikivoyage|Iran|Iran (including business etiquette information)}}{{Sister project links|Economy of Iran}} <!--PLEASE ADD SITES RELATING TO THE IRANIAN ECONOMY AS A WHOLE. EXTERNAL LINKS PERTAINING TO SPECIFICS SHOULD BE PLACED IN THE CORRESPONDING ARTICLES. YOU CAN ALSO PLACE RESEARCH PAPERS/NEWS ITEMS AT [[Talk:Economy of Iran/helpful links]]--> ;General * [http://news.bbc.co.uk/2/shared/spl/hi/middle_east/06/iran_maps/html/default.stm BBC]{{Snd}} Iran in Maps (Population, land and infrastructure) * [http://www.dmoz.org/Regional/Middle_East/Iran/Business_and_Economy/ DMOZ] {{Webarchive|url=https://web.archive.org/web/20140415000000/http://www.dmoz.org/Regional/Middle_East/Iran/Business_and_Economy |date=April 15, 2014 }}{{Snd}} Business and Economy of Iran (Open Directory) * [http://www.financialtribune.com/ ''Financial Tribune'']{{Snd}} [[Financial Tribune|Iran's economic and business newspaper]] (in English) * [http://www.parstimes.com/business/iran/ Pars Times]{{Snd}} Iran Business Resources (Comprehensive list of resources on the Internet relating to Iran and its economy) ; Governments *{{in lang|en}} [https://www.mefa.gov.ir/ Ministry of Economic Affairs and Finance Of Iran] {{Webarchive|url=https://web.archive.org/web/20101203110805/http://www.mefa.gov.ir/ |date=December 3, 2010 }}{{Snd}} Official Website *{{in lang|en}} [https://en.mimt.gov.ir/ Ministry of Industry, Mine & Trade of Iran] {{Webarchive|url=https://web.archive.org/web/20201217142023/https://en.mimt.gov.ir/ |date=December 17, 2020 }}{{Snd}} Official Website *{{in lang|en}} [https://www.cbi.ir/ Central Bank of Iran] {{Webarchive|url=https://web.archive.org/web/20201124161424/https://www.cbi.ir/ |date=November 24, 2020 }}{{Snd}} Detailed statistics about Iran's economy and sectors, including national accounts and annual reviews * [http://www.freezones.ir/ High Council of Iran Free Trade-Industrial Zone] {{Webarchive|url=https://web.archive.org/web/20120209082957/http://www.freezones.ir/ |date=February 9, 2012 }}{{Snd}} Official site with information on [[Foreign Direct Investment in Iran#Free trade zones and special economic zones|Iran's Free Trade Zones]] * [http://www.investiniran.ir/ Organization For Investment, Economic and Technical Assistance of Iran] {{Webarchive|url=https://web.archive.org/web/20200620224526/https://www.investiniran.ir/ |date=June 20, 2020 }}{{Snd}} [[Ministry of Economic Affairs and Finance (Iran)|Government]] "one-stop institution" for [[foreign direct investment in Iran]] (Including information on labor laws, taxation and customs) * [http://tpo.ir/ Trade Promotion Organization of Iran] {{Webarchive|url=https://web.archive.org/web/20160917175414/http://www.tpo.ir/ |date=September 17, 2016 }}{{Snd}} Many useful information about trade, FDI, economic reports, customs, laws, statistics, links and opportunities for investors in Iran (Affiliated to [[Ministry of Commerce (Iran)|Iran's Ministry of Commerce]]) * [http://www.austrade.gov.au/Australian/Export/Export-markets/Countries/Iran/Market-Profile Austrade] {{Webarchive|url=https://web.archive.org/web/20161002080358/http://www.austrade.gov.au/Australian/Export/Export-markets/Countries/Iran/Market-Profile |date=October 2, 2016 }}{{Snd}} Iran Profile (Many practical information and sector specific reports, with useful websites and resources. Login required for sector reports) *[https://www.gov.uk/government/publications/doing-business-with-iran/frequently-asked-questions-on-doing-business-with-iran U.K. Department for International Trade]{{Snd}} Doing business in Iran (Trade and export guide) * [https://www.cia.gov/the-world-factbook/countries/iran/ U.S. Central Intelligence Agency: Iran's entry]{{Snd}} [[The World Factbook]] * [https://www.eia.gov/international/overview/country/IRN U.S. Department of Energy: Iran's entry]{{Snd}} Oil, gas, electricity, data, profile, analysis and resources ; Publications and statistics * [https://web.archive.org/web/20091006011603/http://www.irantracker.org/global-business-in-iran American Enterprise Institute]{{Snd}} Global Investment in Iran (Indicative list of major international companies investing in Iran broken down by their nationality, sector of activity and amount invested) * [http://store.businessmonitor.com/iran Business Monitor International] {{Webarchive|url=https://web.archive.org/web/20150222064103/http://store.businessmonitor.com/iran |date=February 22, 2015 }}{{Snd}} Iran Business Forecast Report (Login required for sector reports) * [https://www.thebusinessyear.com/iran Business Year – Iran] (VIP interviews, economic data, sector reports, investment opportunities) * [http://country.eiu.com/Iran Economist Intelligence Unit: Iran's entry]{{Snd}} Forecast, factsheet, regulation, economic data & structure (Login required for some reports) * [http://www.imf.org/external/country/IRN/index.htm International Monetary Fund]{{Snd}} Analysis, reports and recommendations for Iran * [https://www.amar.org.ir/english/ Statistical Center of Iran]{{Snd}} Statistics by topic, database and metadata * [http://www.turquoisepartners.com/iraninvestment/ Turquoise Partners] {{Webarchive|url=https://web.archive.org/web/20100111055129/http://www.turquoisepartners.com/iraninvestment/ |date=January 11, 2010 }}{{Snd}} ''[[Turquoise Partners#Iran Investment Monthly|Iran Investment Monthly]]'' (Reports on the [[Tehran Stock Exchange]] and Iran's economy) * [http://www.worldbank.org/en/country/iran World Bank]{{Snd}} Social and economic indicators for Iran {{Navboxes|state= | title = [[File:Flag map of Iran.svg|30px]] Articles related to the economy of Iran | list = {{Economy of Iran}} {{TSE Companies of Iran}} {{Banks of Iran}} {{Energy in Iran}} {{OPEC}} {{Asia in topic|Economy of}} }} [[Category:Economy of Iran| ]] [[Category:OPEC|Iran]]
Summary:
Please note that all contributions to Niidae Wiki may be edited, altered, or removed by other contributors. If you do not want your writing to be edited mercilessly, then do not submit it here.
You are also promising us that you wrote this yourself, or copied it from a public domain or similar free resource (see
Encyclopedia:Copyrights
for details).
Do not submit copyrighted work without permission!
Cancel
Editing help
(opens in new window)
Templates used on this page:
Template:Bar box
(
edit
)
Template:Cbignore
(
edit
)
Template:Citation
(
edit
)
Template:Citation needed
(
edit
)
Template:Citation needed span
(
edit
)
Template:Cite book
(
edit
)
Template:Cite document
(
edit
)
Template:Cite encyclopedia
(
edit
)
Template:Cite journal
(
edit
)
Template:Cite magazine
(
edit
)
Template:Cite news
(
edit
)
Template:Cite periodical
(
edit
)
Template:Cite report
(
edit
)
Template:Cite video
(
edit
)
Template:Cite web
(
edit
)
Template:Clear
(
edit
)
Template:Convert
(
edit
)
Template:Dead link
(
edit
)
Template:Further
(
edit
)
Template:ISBN
(
edit
)
Template:In lang
(
edit
)
Template:Infobox economy
(
edit
)
Template:Legend
(
edit
)
Template:Main
(
edit
)
Template:N/A
(
edit
)
Template:NA
(
edit
)
Template:Navboxes
(
edit
)
Template:PD-notice
(
edit
)
Template:Pie chart
(
edit
)
Template:Portal
(
edit
)
Template:Refbegin
(
edit
)
Template:Refend
(
edit
)
Template:Reflist
(
edit
)
Template:See also
(
edit
)
Template:Short description
(
edit
)
Template:Sister project links
(
edit
)
Template:Snd
(
edit
)
Template:Toclimit
(
edit
)
Template:Update
(
edit
)
Template:Update inline
(
edit
)
Template:Use American English
(
edit
)
Template:Use mdy dates
(
edit
)
Template:Webarchive
(
edit
)
Template:Wikivoyage
(
edit
)
Template:YouTube
(
edit
)
Search
Search
Editing
Economy of Iran
Add topic
