Current Account in Iran

Iran Current Account | Economic News & Forecasts

Iran - Current Account

The economy contracted 4.9% annually in the fiscal year ending March 2018 according to a statement released by Iran’s Statistical Institute in late June. Far from receding, the recession is expected to deepen this year as U.S. sanctions continue to bite. Oil tanker tracking data estimated that Iran’s oil exports fell to 0.3 mbpd or less in the first three weeks of June, while a recent OPEC report showed oil output declined sharply in April and May. Moreover, it is thought that much of the crude oil leaving Iran is floating at sea due to difficulty finding buyers. Geopolitical tensions have risen in recent weeks, after several oil tanker attacks in the Gulf and Iran’s threat to openly violate the 2015 nuclear accord by exceeding the limit of uranium holdings. This will depress already-battered business confidence, and a solution to the stand-off with the U.S. 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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