Trade Balance in Iran

Iran Trade Balance | Economic News & Forecasts

Iran - Trade Balance

GDP growth should have remained robust in H2 2021, but ongoing U.S. economic sanctions and a spike in new Covid-19 cases in Q3, which led to a nationwide lockdown, likely subdued momentum somewhat. Oil production continued to pick up in July–November, which should have supported the energy sector. That said, the non-oil sector likely struggled as Covid-19 restrictions continued to keep non-essential businesses closed in some regions of the country. Nevertheless, new cases have declined in recent weeks, boding well for activity ahead. On the fiscal front, in mid-December President Ebrahim Raisi submitted next year’s budget proposal, which includes a stark rise in military spending and a steep fall in expected oil exports for the next fiscal year. Meanwhile, progress on reviving the 2015 nuclear deal was made in late December and authorities expect to make a breakthrough in the coming month.

Iran - Trade Balance Data

2015   2016   2017   2018   2019  
Trade Balance (USD billion)5.4  20.8  22.6  32.6  -     

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Iran Trade Balance Chart

Iran Trade Balance
Note: Trade balance in (USD bn).
Source: Central Bank of Iran and FocusEconomics calculations.

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