GDP in Iran

Iran GDP | Economic News & Forecasts

Iran - GDP

The economy remains under siege from U.S. sanctions, which are ravaging the public coffers and fueling inflationary pressures. According to the EIA, oil production in Q1 was down roughly 1.2 million barrels per day (mbpd) from Q1 2018, and dropped a further 0.3 mbpd in April relative to March. Moreover, after the U.S. scrapped sanction waivers on Iranian oil imports effective 1 May, Iran exported just 0.4 mbpd of oil in May (May 2018: 2.5 mbpd), according to tanker-tracking data. Exacerbating matters, recent flash floods displaced over half a million people, which likely further hampered domestic economic activity. Meanwhile, tensions between the U.S. and Iran have continued to escalate: In mid-May, government officials in Washington accused Iran of attacking oil tankers in the Strait of Hormuz, which will further depress business sentiment and heightens the risk of armed conflict.

Iran - GDP Data

2013  2014  2015  2016  2017  
Economic Growth (GDP, annual variation in %)-0.2  4.6  -1.3  13.4  -     

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Iran GDP Chart

Iran GDP
Note: Annual variation of gross domestic product (GDP) in %.
Source: Central Bank of Iran.

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