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IRAN

Global Trade Volume of Iran

The Iranian economy is mainly based on oil and gas exports. Although the public economy is dominant in Iran, which is one of the countries where PraeGlobal is active, there have been developments in the private sector in recent years. Because of the economic embargo imposed on the country since the 1980s, Iran has been less developed than its own potential. As a result of the embargoes imposed, the value of the Iranian riyal has lost its value enormously. The result of the rise in the exchange rate caused cost increases in the manufacturing sector and inflation. As of mid-2014, oil prices dropped, causing production and exports to fall and economic growth to remain low. The government’s priorities include reducing unemployment, reducing inflation, ensuring stability in the exchange rate, ensuring fiscal discipline, improving investments, increasing the share of the private sector in the economy, increasing private sector investments, ensuring economic growth and improving social conditions.

Iran Economy Data

2012 2013 2014 2015 2016 2017
Population (million) 76,45 77,44 78,41 79,36 80,28 81,42
National income per capita ($) 16,840 16,560 17,370 16,500 18,497 20.000
GDP (billion $) 389,2 396,41 423,41 375,4 404,45 427,67
Economic growth (GDP, annual change %) 2,5 -1,5 -1,0 5,0 -5,0 2,3
Export (milyar $) 89 68 68,1 41,2 46 91,99
Import (milyar $) 69,7 63,8 72,1 55,4 46,2 70,53
Jobless rate 13 11 10,5 11,5 11 11,3
Inflation Rate (consumer price index, annual change %) 30,83

 

34,73

 

15,56

 

11,92 9,04 10,53
Trade Balance (billion $) 19,3 4,2 -4 14,2 0,2 21,46

Traiding Qualities

  1. Agriculture

    With investments in recent years, product development, packaging and marketing activities in Iran, the country of Agriculture, have led to the emergence of a new export market. In Iran, rich in climate and soil diversity, agricultural production is usually made in fertile lands in the north and west of the country. Agriculture is carried out in a narrow coastal strip in the northern part of the country without irrigation. In the South, dates are cultivated through irrigation Channels. Major agricultural products include rice, wheat, barley, wheat, corn, sugarcane, sugar beet, citrus, dates, peanuts, Apple grapes, cotton and onions. The production of red and white meat, honey and dairy sector is developing. Mostly sheep are fed in the livestock sector, which has an important place in the country’s economy. Generally, livestock is carried out in high places in the mountains. The wool of the Fed animals is very valuable. Besides, cattle are also fed. In addition, sturgeon and caviar are produced in the Caspian Sea.

  2. The industry sectors

    The Iranian economy is based on oil. Oil was found by foreigners in the country and was nationalized in 1951. This structure is intended to be broken and diversified industrial production. Industrial sector consists of petroleum, fertilizers, sodium hydroxide, cement, textiles, steel and construction materials. In addition, food processing and metal processing sectors are composed of carpet and jewellery sectors.

    Iran is the largest steel sector in the Middle East. For years, the automotive industry has been protected from external competition with high taxes and quotas. In recent years, with the joint efforts of European and Asian foreign enterprises, they have penetrated the Iranian market and established Assembly facilities as well as production.

  3. Mining Sector

    In addition to oil and natural gas, which are the main sources of Iranian economy, zinc, iron, uranium, copper, manganese, chromite, lead, coal and gold are also extracted. The Iranian mining industry gained even more importance after the 1960s with the discovery of new reserves. It has the world’s largest zinc and the second largest copper reserves.

  4. Energy Sector

    Iran is a country with 10.5% of the world’s oil reserves. It also has the third largest crude oil reserve in the world. Iran has 9 refineries with a daily capacity of 1.9 million barrels. Development and modernization are required for crude oil reserves in the south of the country and in the Persian Gulf. More than half of Iran’s energy consumption is natural gas. After the necessary investments and the development of the reserves, Iran will be a full natural gas exporter.

  5. Manufacturing Industry

    The large-scale factories that were founded in the 1920s were significantly damaged by the war. In recent years, small-scale factories have started to be established alongside large factories that have started to be produced. In this way, the dependence on imports has been reduced. In Iran, which produces petroleum products, automobiles, electrical appliances, telecommunications products, cement and industrial machinery are manufactured. In addition, processed food, plastic products, pharmaceuticals, leather products and paper products are produced.

iran

As we have seen above, if you intend to develop business in this Middle East oil-rich country, we are ready to offer you consultancy services as PraeGlobal. We will provide all kinds of support for your company and we will be with you with all consultancy services with our expert staff in the process of establishment of your company.

With PraeGlobal’s active staff, you will feel like you are at home even you are in abroad.

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Contact Informations

1st floor No.10 Haqqani Alley south Kheradmand St. Karimkhan St. Tehran 15848 53868 Islamic Republic of Iran

+98 21 8884 3638

www.global.com

info@praeglobal.com