If Iran’s positive
trade balance is turned into a deep trade deficit, it’s over. The first
casualty will be terrorist funding.
The Nominal Per Capita
GDP in Iran was $5,383 and unemployment was 11.8% reported in 2017. Inflation
in 2018 was 40%. Interest rate 14.2%.
Poverty is 20%. Labor Force is 30.5 million. Population is 82.7
million. Labor force participation is
37%. Land area is 636,400 square miles.
Government revenue was
$61.95 billion, spending was $68.72 billion. Nominal GDP for 2019 is $333.6
billion. Debt to GDP is 40%. GDP growth was -3.6% in 2018. 60% of the economy
is government controlled through central planning. 48% of exports are from state-owned
oil. External debt was $7 billion. Ease of doing business is 120th.
Exports were $110.76
billion sold to China 27.5% and Turkey 11.1%. Those in jeopardy are India
15.1%, South Korea 11.4%, Italy 5.7% and Japan 5.3%; Iran is likely to lose
these customers that now buy 37.5% of Iran’s exports.
Imports were $76.39
billion purchasing from UAE 27.4%, China 13.2%, Turkey 7.8% and Germany 4%.
This includes raw materials and technical services.
If Iran loses 37.5% of
its export business, exports could drop to $41.5 billion.
The government of Iran
is balancing its budget on the backs of the citizens and squandering $billions
on developing nuclear weapons, maintaining and expensive military and funding
terrorists world-wide. Citizens are impoverished and unhappy, but like North
Korea, they are required to suffer in silence.
Norb Leahy, Dunwoody
GA Tea Party Leader
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