Current Account in Iran
Iran - Current Account (billions of U.S. Dollars)The economy remained under siege from U.S. economic sanctions in the third quarter of this calendar year, with estimated oil production slumping to nearly 2.2 million barrels per day (mbpd) in Q3 compared to 3.6 mbpd in Q3 2018. Moreover, oil exports have likely remained below 0.4 mbpd in recent months, down from an average of 2.5 mbpd in 2018, notwithstanding some continued purchases from China. This likely fed through to the non-oil sector and depressed economic activity. In other news, Iran recently unveiled a USD 1.8 billion onshore pipeline project which will span 1,000 km from the Goreh oil terminal located in the southern Bushehr Province to the Jask port terminal, located east of the Strait of Hormuz in the Gulf of Oman. The project will avoid shipping oil through the Strait of Hormuz, and expand Iran’s refining capacities.
Iran - Current Account (USD bn) Data
|Current Account Balance (USD bn)||25.1||13.6||1.2||16.4||15.8|
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