Iran/

Iran’s economy is marked by an inefficient state sector, reliance on the oil sector, which provides the majority of government revenues, and statist policies, which create major distortions throughout the system. Private sector activity is typically limited to small-scale workshops, farming, and services. Price controls, subsidies, and other rigidities weigh down the economy, undermining the potential for private-sector-led growth. Significant informal market activity flourishes. The legislature in late 2009 passed President Mahmud AHMADI-NEJAD’s bill to reduce subsidies, particularly on food and energy. The bill would phase out subsidies - which benefit Iran’s upper and middle classes the most - over three to five years and replace them with cash payments to Iran’s lower classes. However, the start of the program was delayed repeatedly throughout 2010 over fears of public reaction to higher prices. This is the most extensive economic reform since the government implemented gasoline rationing in 2007. The recovery of world oil prices in the last year increased Iran’s oil export revenue by at least $10 billion over 2009, easing some of the financial impact of the newest round of international sanctions. Although inflation has fallen substantially since the mid-2000s, Iran continues to suffer from double-digit unemployment and underemployment. Underemployment among Iran’s educated youth has convinced many to seek jobs overseas, resulting in a significant “brain drain.”

$863.5 billion (2010 est.)

$838.3 billion (2009 est.)

$825.9 billion (2008 est.)

$337.9 billion (2010 est.)

3% (2010 est.)

1.5% (2009 est.)

2.5% (2008 est.)

$11,200 (2010 est.)

$11,000 (2009 est.)

$11,000 (2008 est.)

25.7 million

14.6% (2010 est.)

10.3% (2008 est.)

18% (2007 est.)

44.5 (2006)

27.6% of GDP (2010 est.)

16.2% of GDP (2010 est.)

16.8% of GDP (2009 est.)

11.8% (2010 est.)

13.5% (2009 est.)

NA% (31 December 2009)

NA% (31 December 2008)

12% (31 December 2009 est.)

12% (31 December 2008 est.)

$50.37 billion (31 December 2010 est)

$48.74 billion (31 December 2009 est)

$167.4 billion (31 December 2010 est.)

$147.2 billion (31 December 2009 est.)

$132.2 billion (31 December 2010 est.)

$120.2 billion (31 December 2009 est.)

$63.3 billion (31 December 2009)

$49.04 billion (31 December 2008)

$45.57 billion (31 December 2007)

wheat, rice, other grains, sugar beets, sugar cane, fruits, nuts, cotton; dairy products, wool; caviar

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, armaments

4.3% excluding oil (2010 est.)

212.8 billion kWh (2007 est.)

206.7 billion kWh (2007 est.)

6.15 billion kWh (2007 est.)

2.06 billion kWh (2007 est.)

4.172 million bbl/day (2009 est.)

1.7 million bbl/day (2009 est.)

2.21 million bbl/day (2009 est.)

162,500 bbl/day (2009 est.)

137.6 billion bbl based on Iranian claims

200 billion cu m (2008 est.)

140 billion cu m

4.246 billion cu m (2008 est.)

5.2 billion cu m (2008 est.)

29.61 trillion cu m (1 January 2010 est.)

$9.76 billion (2010 est.)

$1.913 billion (2009 est.)

$78.69 billion (2010 est.)

$69.04 billion (2009 est.)

petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets

China 16.58%, Japan 11.9%, India 10.54%, South Korea 7.54%, Turkey 4.36% (2009)

$58.97 billion (2010 est.)

$58.97 billion (2009 est.)

industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services

UAE 15.14%, China 13.48%, Germany 9.66%, South Korea 7.16%, Italy 5.27%, Russia 4.81%, India 4.12% (2009)

$75.06 billion (31 December 2010 est.)

$81.31 billion (31 December 2009 est.)

$12.84 billion (31 December 2010 est.)

$12.63 billion (31 December 2009 est.)

$16.82 billion (31 December 2010 est.)

$15.13 billion (31 December 2009 est.)

$2.075 billion (31 December 2010 est.)

$1.825 billion (31 December 2009 est.)

Iranian rials (IRR) per US dollar - 10,308.2 (2010), 9,864.3 (2009), 9,142.8 (2008), 9,407.5 (2007), 9,227.1 (2006)