Current Account in Iran

Iran Current Account | Economic News & Forecasts

Iran - Current Account

The economy remains dejected, under siege from U.S. economic sanctions. In July, oil exports were estimated at roughly 100,000 barrels per day (bpd), down from approximately 400,000 bpd in June. Moreover, according to the EIA, average crude oil production plunged 1.4 million barrels per day (mpbd)––over 35%–in the first seven months of 2019 compared to the same time last year. Exacerbating matters, inflation continues to erode households’ purchasing power, which is likely dampening private consumption. Meanwhile, in the political arena, French President Emmanuel Macron attempted to jump-start negotiations with Iran in late August by offering to broker a Trump-Rouhani meeting. However, the proposal will hinge on the U.S. agreeing to curtail oil sanctions, which currently appears unlikely.

Iran - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)4.7  3.1  0.3  3.9  3.4  

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Iran Current Account Chart

Iran Current Account
Note: Current account balance as % of GDP.
Source: Central Bank of Iran and FocusEconomics calculations.

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