Iran’s Economy

The economy of Iran is a mixed and transition economy with a large public sector. Some 60 percent of the economy is centrally planned. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange, With 10 percent of the world's proven oil reserves and 15 percent of its gas reserves, Iran is considered an "energy superpower". Iran has fifth highest total estimated value of natural resources, valued at US$27.3 trillion in 2016.

Iran’s nominal GDP is $460 billion, per capita GDP is $5,383 per year, GDP by sector is agriculture 9.8%, industry 35.9% and services 54.3, inflation is 10.5%, interest rate is 14.2%, population is 82 million, labor force is 30.5 million, unemployment is 12.4%, land area is 636,400 square miles. Exports are $97.39 billion going to China, India, South Korea, Turkey and Japan, Imports are $70.53 billion coming from UAE, China, South Korea, Turkey and Germany. Government revenue is $61.95 billion and spending is $68.72 billion.

Iran’s main industry is oil and gas. 80% of Iran’s government revenue comes from their exports of oil and petrochemicals. They also produce fertilizers, caustic soda, metal fabrication, weapons, cement and construction materials. The refine sugar, produce vegetable oil, export fruits and nuts and carpets. They manufacture home appliances, cars, parts and electronics. They produce electric power and have a telecom industry. Their “ease of doing business rank is 120^th.

https://en.wikipedia.org/wiki/Economy_of_Iran

Comments

Iran doesn’t send terrorists to China, because China buys 30.1% of their oil.  Iran doesn’t send terrorists to the UAE, because the UAE provides 37.4% of Iran’s imported goods. Iran will be vulnerable to losing its oil export customers in India, South Korea and Japan as soon as the US can take their place to provide oil and natural gas to these countries. Hopefully, the $70 /bbl. oil prices will accelerate US oil production.

The citizens of Iran are not wealthy and not that happy with their government. They can no longer escape to the US as they once did. They are viewed as an all-around “credit risk”. They are in an economic box and the US is about to tighten the box even more, to get them to stop funding terrorism.

Norb Leahy, Dunwoody GA Tea Party Leader