Trade Balance in Iran
Iran - Trade BalanceGDP 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
|Trade Balance (USD billion)||5.4||20.8||22.6||32.6||-|
5 years of economic forecasts for more than 30 economic indicators.
Iran Trade Balance Chart
Source: Central Bank of Iran and FocusEconomics calculations.
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