Iran Economy Overview
Budget
revenues
$60.714 billion (2019 est.)
expenditures
$90.238 billion (2019 est.)
Exports
Exports 2022
$105.752 billion (2022 est.)
Exports 2023
$97.924 billion (2023 est.)
Exports 2024
$100.031 billion (2024 est.)
Imports
Imports 2022
$97.729 billion (2022 est.)
Imports 2023
$113.21 billion (2023 est.)
Imports 2024
$117.176 billion (2024 est.)
Industries
petroleum, petrochemicals, natural gas, fertilizers, caustic soda, textiles, cement and other construction materials, food processing (notably sugar refining and vegetable oil manufacturing), ferrous and nonferrous metal production, armaments
Labor force
28.575 million (2024 est.)
Public debt
Public debt 2017
39.5% of GDP (2017 est.)
Remittances
Remittances 2021
0% of GDP (2021 est.)
Remittances 2022
0% of GDP (2022 est.)
Remittances 2023
0% of GDP (2023 est.)
Exchange rates
Currency
Iranian rials (IRR) per US dollar -
Exchange rates 2019
42,000 (2019 est.)
Exchange rates 2020
42,000 (2020 est.)
Exchange rates 2021
42,000 (2021 est.)
Exchange rates 2022
42,000 (2022 est.)
Exchange rates 2023
42,000 (2023 est.)
Debt - external
Debt - external 2023
$6.759 billion (2023 est.)
Economic overview
historically a state-controlled economy, now reforming state-owned financial institutions; robust oil and gas, agricultural, and service sectors; recent significant inflation attributed to currency depreciation, international sanctions, and uncertainty among investors; rising poverty levels
Unemployment rate
Unemployment rate 2022
9.1% (2022 est.)
Unemployment rate 2023
9.1% (2023 est.)
Unemployment rate 2024
9.2% (2024 est.)
Exports - partners
China 35%, Turkey 16%, India 8%, Pakistan 7%, Armenia 5% (2023)
Imports - partners
China 34%, UAE 20%, Turkey 11%, Brazil 8%, Germany 4% (2023)
Real GDP per capita
Real GDP per capita 2022
$15,300 (2022 est.)
Real GDP per capita 2023
$15,900 (2023 est.)
Real GDP per capita 2024
$16,200 (2024 est.)
Real GDP growth rate
Real GDP growth rate 2022
3.8% (2022 est.)
Real GDP growth rate 2023
5% (2023 est.)
Real GDP growth rate 2024
3% (2024 est.)
Agricultural products
wheat, sugarcane, milk, sugar beets, rice, tomatoes, barley, potatoes, oranges, apples (2023)
Exports - commodities
plastics, iron ore, alcohols, natural gas, refined copper (2023)
Imports - commodities
broadcasting equipment, vehicle parts/accessories, corn, soybeans, vehicle bodies (2023)
GDP (official exchange rate)
$436.906 billion (2024 est.)
GDP - composition, by end use
household consumption
50.5% (2024 est.)
government consumption
12.9% (2024 est.)
investment in inventories
13.3% (2024 est.)
investment in fixed capital
26.7% (2024 est.)
exports of goods and services
22.9% (2024 est.)
imports of goods and services
-26.8% (2024 est.)
Average household expenditures
on food
27.9% of household expenditures (2023 est.)
on alcohol and tobacco
0.5% of household expenditures (2023 est.)
Inflation rate (consumer prices)
Inflation rate (consumer prices) 2022
43.5% (2022 est.)
Inflation rate (consumer prices) 2023
44.6% (2023 est.)
Inflation rate (consumer prices) 2024
32.5% (2024 est.)
Industrial production growth rate
2.8% (2024 est.)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022
$1.373 trillion (2022 est.)
Real GDP (purchasing power parity) 2023
$1.442 trillion (2023 est.)
Real GDP (purchasing power parity) 2024
$1.486 trillion (2024 est.)
Youth unemployment rate (ages 15-24)
male
20% (2024 est.)
total
22.8% (2024 est.)
female
35.5% (2024 est.)
GDP - composition, by sector of origin
industry
36.4% (2024 est.)
services
47.9% (2024 est.)
agriculture
13% (2024 est.)
Household income or consumption by percentage share
lowest 10%
2.8% (2023 est.)
highest 10%
28.2% (2023 est.)
Gini Index coefficient - distribution of family income
Gini Index coefficient - distribution of family income 2023
35.9 (2023 est.)