Iran's GDP grows by 3.2% in the first quarter

According to the Central Bank of Iran (CBI), the country's gross domestic product (GDP), including oil, grew by 3.2 per cent in the first quarter of the current Iranian calendar year (20 March to 21 June) compared to the first quarter of last year. Excluding oil, GDP increased by 2.5 per cent. This is reported by Tehran Times, a partner of TV BRICS.

The World Bank had earlier forecast Iran's economy to grow by 3.2 per cent in 2024, while the International Monetary Fund raised its estimate to 3.7 per cent.

Iran's industrial sector is expected to show the highest growth in 2024 (4.9 per cent), followed by the services sector (2.7 per cent) and the agricultural sector (0.9 per cent).

The World Bank also forecasts growth in Iran's exports of goods and services in 2024.

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