GDP in Iran
Iran - GDPThe economy appears to have taken a hit from the U.S. sanctions in the third quarter. Although the second phase of sanctions, specifically targeting Iran’s oil sector, will take effect on 4 November, in September oil production had already fallen by more than 11% from its Q2 average. The sanctions are poised to push the economy into recession, especially as their effects will be magnified from November. On a more positive note, the Central Bank’s recent intervention in foreign exchange markets appears to have successfully stabilized the currency in past weeks. Meanwhile, European diplomats announced that the special purpose vehicle—designed to help the EU maintain trade ties with Iran—will be legally in place by the effective sanctions date, though it will take a few more months to become operational.
Iran - GDP Data
|Economic Growth (GDP, annual variation in %)||-0.2||4.6||-1.3||13.4||-|
5 years of economic forecasts for more than 30 economic indicators.
Iran GDP Chart
Source: Central Bank of Iran.
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