The Financial Crisis and its Impacts on the MENA Region

 
Publisher: Middle East Commercial Services Limited
 

Iran

Capital: Tehran
Population: 65.875.223 (June 2008)
Area: 1.648 million SQ KM
Currency: Iranian Rial
Currency Code: IRR
GDP Per Capita (PPP): $ 10, 600
GDP (Purchasing Power Parity): $753 Billion
GDP (Official Exchange Rate): $294.1 Billion
GDP – Real Growth Rate: 5.8%
GDP Composition by Industry Sector: Agriculture: 10.7% - Industry: 42.9% - Services: 46.4%

Industry: Petroleum, Petrochemicals, Fertilizers, Caustic Soda, Textiles, Cement and other Construction Materials, Food Processing (particularly sugar refining and vegetable oil production), Ferrous and Non-Ferrous Metal Fabrication, and Armaments.

 Economy:  The economy of Iran is a transitional economy and is marked by its reliance on the Oil Sector (which provides 85% of all government revenue.)  Most economic activity is controlled by the government , while private sector activity is limited.  High oil prices have enabled Iran to amass close to $70 Billion in Foreign Exchange Reserves.  Increased revenue has not eased economic hardship with the economy seeing double-digit unemployment and inflation.

 

 

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