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Economy of Iran

Iran or Persia is the sovereign nation of Western Asia. The official name of this country is the Islamic Republic of Iran. It is connected with Armenia, Azerbaijan on the northern region; other neighborhood countries include Iraq and Turkey. The GDP of Iran in terms of purchasing power parity (PPP) is $987.1 billion as of 2013, which is the 19th largest when compared to the other countries. It can be said the economy of Iran is a mixture of highest level planning, state ownership and other big enterprises. The small scale private sector and diversified field of agriculture is also contributing to the economic wealth of the country. The private sector of nation is limited to small-scale workspaces, farming and other services. Tehran is the capital and largest city of the nation. Iran has faced some serious monetary constraints that turned the economy to drop a bit, but with the arrival of new elected president Hasan RUHANI, economic improvements are clearly seen by the economic policies implemented by the government authorities. The major industries of Iran include petrochemicals, petroleum, textiles, cement, construction materials, metal fabrication and armaments. The fiscal year of Australia instigates from the 21st of March and ends on 20 March.

Imports of Iran

The estimated import value of Iran is $64.42 billion as of 2013, which is the 46th largest when compared to the other countries. Commodities like industrial supplies, capital goods, foodstuffs, consumer goods are the major imports of the country. The dominant import partners of Iran are UAE, China, Turkey and South Korea.

Exports of Iran

Iran is being working with the major industrialists to expand the volume of exports of the nation. The estimated export value of the nation is $61.22 billion as of 2013. The major exports commodities of Iran include chemicals, petrochemicals, dry fruits, nuts and carpets. Countries like China, India, Turkey, South Korea, and Japan are the major export partners of Iran.

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Dialing Code
Fiscal Year
21 March - 20 March
Iranian Rial (IRR)
$131.8 billion (2011 est.) | Petroleum 80%, Chemical And Petrochemical Products, Fruits And Nuts, Carpets
$76.1 billion (2011 est.) | Industrial Supplies, Capital Goods, Foodstuffs And Other Consumer Goods, Technical Services
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