Middle East - IRAN



Country Profile:

Iran became an Islamic republic in 1979 following the overthrow of the monarchy. It now has a theocratic system of government. Its economy is a mixture of central planning, state ownership of oil and other large enterprises, village agriculture and small-scale private trading and service ventures. Pre-revolution Iran’s economy developed rapidly. Traditionally an agricultural society, by the 1970’s it had achieved significant industrialisation and economic modernisation. However, the pace of growth had slowed dramatically by 1978, just before the revolution. Its economy is very much dependent on its energy industry which provides over 85% of government revenues. Iran holds 10% of the world’s proven oil reserves, it holds the second largest reserves of natural gas and it is OPEC’s second largest exporter.

Main Trade Partners:

China, Japan, S.Korea, Italy, Germany, France, Russia, Turkey, UAE, S.Africa

Main Industries:

Oil & Gas, Agriculture, Food Processing, Textiles, Cement, Fertilizer


65,875,224 (July 2008 CIA World Factbook est.)


1.648 mn. sq. km.


753.0 bn. (2007 IMF est.)

GDP Real Growth Rate:

5.8% (2007 CIA World Factbook est.)

GDP per Capita:

$10,624 (2007 IMF est.)

GDP per Sector:

Services 46.4%, Industry 42.9%, Agriculture 10.7% (2007 CIA World Factbook est.)

Stock Market Capitalisation:

$45.2 bn.

Exchange Rate:

1 Iranian Riyal = 0.000102 US$ (September 2008) 1 US $ = 9,828.59 Iranian Riyals

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