TEHRAN - The Iranian economy experienced a 4 percent growth in the first half of the current Iranian fiscal year, spanning March 21 to September 22, 2024, according to a recent report by the Iranian Statistical Centre.
The national accounts data indicates that Iran’s gross domestic product (GDP) at constant prices in 2021 was 5.069 quadrillion rials (approximately $101.38bn), including oil. Without oil, the GDP was 3.837 quadrillion rials (about $76.74bn). These figures reflect an increase compared to the same period last year, when the GDP was 4.872 quadrillion rials (approximately $97.44bn) with oil and 3.740 quadrillion rials (approximately $74.8bn) without oil.
The report highlights growth across key sectors of the Iranian economy during the first half of the year, compared to the same period last year. The agricultural sector saw a 2.9 per cent growth, while the industries and mining sector demonstrated a 5.3 per cent increase. The services sector also experienced growth, expanding by 2.5 per cent.
The growth comes against the backdrop of a challenging global economic environment. Key contributors to the growth include the distribution of natural gas and oil production.