GDP in Iran
Iran - GDPThe 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
|Economic Growth (GDP, annual variation in %)||-0.2||4.6||-1.3||13.4||-|
5 years of economic forecasts for more than 30 economic indicators.
Iran GDP Chart
Source: Central Bank of Iran.
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