Current Account in Iran

Iran Current Account | Economic News & Forecasts

Iran - Current Account

According to recent data, the economy expanded at a faster pace in Q2 (Q1 SH 2021), due to stronger growth in the non-oil sector. Meanwhile, the expansion in the oil sector moderated slightly in Q2. Turning to H2 2021, GDP growth will likely remain strong, but ongoing U.S. economic sanctions and a spike in new Covid-19 cases in Q3, which led to a nationwide lockdown, should keep economic output relatively downbeat. Oil production continued to pick up in the third quarter and in October, which should be supporting the energy sector. That said, the non-oil sector is likely struggling as Covid-19 restrictions continue to keep non-essential businesses closed in some regions of the country. Nevertheless, new cases have fallen dramatically in recent weeks, boding well for activity ahead. In politics, negotiations to salvage the 2015 nuclear deal resumed in Vienna at the end of November.

Iran - Current Account Data

2015   2016   2017   2018   2019  
Current Account (% of GDP)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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