GDP in Iran
Iran - GDPThe economy plunged 4.9% in SH 2018, which ran roughly from April 2018 to March 2019, as U.S. sanctions devastated oil output and exports, consequently hammering the energy sector and public coffers. Moving to Q1 SH 2019 (April-June 2019), the downturn likely intensified. According to OPEC, oil production plummeted 1.4 mbpd in the period in annual terms, while by late June, oil exports were reportedly a mere 300,000 barrels per day or less. That said, China appears to have provided some support, by continuing to make purchases and stockpiling Iran’s oil exports at Chinese ports in recent months. In politics, tensions in the Strait of Hormuz escalated after Iran seized a British oil tanker in late July. Geopolitical disputes and Iran’s growing isolation will continue to hamper business sentiment going forward.
Iran - GDP Data
|Economic Growth (GDP, annual variation in %)||-0.2||4.6||-1.3||13.4||3.8|
5 years of economic forecasts for more than 30 economic indicators.
Iran GDP Chart
Source: Central Bank of Iran.
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