Iranian economy shows 4% growth in the first half of the current Iranian year

The Iranian economy showed a 4 per cent growth in the first half of the current Iranian year (March 21-September 22, 2024), according to the latest report of the Iranian Statistical Centre. Excluding the oil sector, the growth was 2.6 per cent.

Iran's gross domestic product (GDP) at constant prices in 2021 reached 5.069 quadrillion rials (about US$101.38 billion) including oil and 3.837 quadrillion rials (about US$76.74 billion) excluding oil, according to the national accounts data. This represents an increase from the same period last year when GDP was 4.872 quadrillion rials (about US$97.44 billion) with oil and 3.740 quadrillion rials (about US$74.8 billion) without oil.

The report showed growth in major sectors of the economy in the first half of the year compared to the same period last year. The agriculture sector posted a growth of 2.9 per cent, industries and mining showed a 5.3 per cent growth, while services grew by 2.5 per cent. This is reported by Tehran Times, a partner of TV BRICS

These data emphasise Iran's stable economic development against the backdrop of a challenging global environment, with important contributions from natural gas distribution and oil production.

Photo: iStock