SCI: Iran’s Economic Growth Surges 3.3%

Date: 10 March 2023 - 21:33

News ID: ۱۱۳۲۰۰

TEHRAN - Figures by the Iranian government’s statistics agency (SCI) show the country’s economy grew by 3.3% in the three quarters to December 21 last year.
SCI figures released on Thursday showed that Iran’s gross domestic products (GDP) had reached 58,250 trillion rials ($117 billion) in the nine months to December, up from 56,410 trillion rials reported over the quarter to December 2021.
The GDP in Iran’s non-oil sector of the economy rose by 2.9% year on year in March-December last year to reach 50,010 trillion rial, said the Statistical Center of Iran.
The agency considers fixed prices reported in 2011 as a baseline for its GDP calculations. The price of U.S. dollar in the Iranian market was nearly 18,000 rials in 2011 while its current price is around 498,000 rials.
SCI figures showed that Iran’s manufacturing and mining sector, which includes oil and gas production, had expanded by 5.3% year on year in the three quarters to late December last year.
Iranian services sector grew by 2.6% while agriculture contracted by 4.3% over the March-December 2022, according to the SCI figures.
The figures come as the Central Bank of Iran had posted a GDP growth of 3.6% for Iran’s economy in the quarter to late September.