American Eagle
MILITARY PROFESSIONAL
- Joined
- May 25, 2010
- Messages
- 3,288
- Reaction score
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- Country
- Location
Iran - Economy - overview:
Iran's economy is marked by statist policies and an inefficient state sector, which create major distortions throughout the system, and reliance on oil, which provides a large share of government revenues. Price controls, subsidies, and other rigidities weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity is typically limited to small-scale workshops, farming, some manufacturing, and services. Significant informal market activity flourishes and corruption is widespread. Tehran since the early 1990s has recognized the need to reduce these inefficiencies, and in December 2010 the Majles passed President Mahmud AHMADI-NEJAD's Targeted Subsidies Law (TSL) to reduce state subsidies on food and energy. This was the most extensive economic reform since the government implemented gasoline rationing in 2007. Over a five-year period the legislation sought to phase out subsidies that previously cost Tehran $60-$100 billion annually and mostly benefited Iran''s upper and middle classes. Cash payouts of $45 per person to more than 90% of Iranian households mitigated initial widespread resistance to the TSL program. However, inflation in 2012 reached its highest level in four years, eroding the value of these cash payouts and motivating the Majles to halt planned price increases for the second half of 2012 through at least March 2013. New fiscal and monetary constraints on Tehran, following international sanctions in January against Iran''s Central Bank and oil exports, significantly reduced Iran''s oil revenue, forced government spending cuts, and fueled a 20% currency depreciation. Economic growth turned negative for the first time in two decades. Iran also continues to suffer from double-digit unemployment and underemployment. Underemployment among Iran''s educated youth has convinced many to seek jobs overseas, resulting in a significant "brain drain."
GDP (purchasing power parity):
$988.4 billion (2012 est.)
country comparison to the world: 18
$1.007 trillion (2011 est.)
$977.7 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate):
$541.2 billion (2012 est.)
GDP - real growth rate:
-1.9% (2012 est.)
country comparison to the world: 208
3% (2011 est.)
5.9% (2010 est.)
GDP - per capita (PPP):
$13,000 (2012 est.)
country comparison to the world: 100
$13,400 (2011 est.)
$13,200 (2010 est.)
note: data are in 2012 US dollars
Gross national saving:
30.3% of GDP (2012 est.)
country comparison to the world: 24
36.6% of GDP (2011 est.)
34.7% of GDP (2010 est.)
GDP - composition, by end use:
household consumption: 45.9%
government consumption: 13.3%
investment in fixed capital: 30.6%
investment in inventories: 1.5%
exports of goods and services: 25.3%
imports of goods and services: -16.6%
(2012 est.)
GDP - composition, by sector of origin:
agriculture: 9.8%
industry: 46.2%
services: 44.1% (2012 est.)
Agriculture - products:
wheat, rice, other grains, sugar beets, sugarcane, fruits, nuts, cotton; dairy products, wool; caviar
Industries:
petroleum, petrochemicals, fertilizers, caustic soda, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and non-ferrous metal fabrication, armaments
Industrial production growth rate:
-5.8% (2012 est.)
country comparison to the world: 173
Labor force:
27.05 million
country comparison to the world: 24
note: shortage of skilled labor (2012 est.)
Labor force - by occupation:
agriculture: 25%
industry: 31%
services: 45% (June 2007)
Unemployment rate:
15.5% (2012 est.)
country comparison to the world: 147
14.1% (2011 est.)
note: data are according to the Iranian Government
Population below poverty line:
18.7% (2007 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 29.6% (2005)
Distribution of family income - Gini index:
44.5 (2006)
country comparison to the world: 45
Budget:
revenues: $79.69 billion
expenditures: $92.63 billion (2012 est.)
Taxes and other revenues:
14.7% of GDP (2012 est.)
country comparison to the world: 196
Budget surplus (+) or deficit (-):
-2.4% of GDP (2012 est.)
country comparison to the world: 95
Public debt:
18.4% of GDP (2012 est.)
country comparison to the world: 131
13.9% of GDP (2011 est.)
note: includes publicly guaranteed debt
Fiscal year:
21 March - 20 March
Inflation rate (consumer prices):
19.9% (2012 est.)
country comparison to the world: 216
20.6% (2011 est.)
note: official Iranian estimate
Central bank discount rate:
NA%
Commercial bank prime lending rate:
11% (31 December 2012 est.)
country comparison to the world: 70
11.25% (31 December 2011 est.)
Stock of narrow money:
$42.91 billion (31 December 2012 est.)
country comparison to the world: 50
$40.06 billion (31 December 2011 est.)
Stock of broad money:
$199.9 billion (31 December 2012 est.)
country comparison to the world: 40
$183.5 billion (31 December 2011 est.)
Stock of domestic credit:
$77.74 billion (31 December 2012 est.)
country comparison to the world: 59
$77.6 billion (31 December 2011 est.)
Market value of publicly traded shares:
$107.2 billion (31 December 2011)
country comparison to the world: 43
$86.62 billion (31 December 2010)
$63.3 billion (31 December 2009)
Current account balance:
$-9.307 billion (2012 est.)
country comparison to the world: 174
$59.38 billion (2011 est.)
Exports:
$67.04 billion (2012 est.)
country comparison to the world: 53
$144.9 billion (2011 est.)
Exports - commodities:
petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets
Exports - partners:
China 22.1%, India 11.9%, Turkey 10.6%, South Korea 7.6%, Japan 7.1% (2012)
Imports:
$70.03 billion (2012 est.)
country comparison to the world: 43
$77.81 billion (2011 est.)
Imports - commodities:
industrial supplies, capital goods, foodstuffs and other consumer goods, technical services
Imports - partners:
UAE 33.2%, China 13.8%, Turkey 11.8%, South Korea 7.4% (2012)
Reserves of foreign exchange and gold:
$74.06 billion (31 December 2012 est.)
country comparison to the world: 29
$84.06 billion (31 December 2011 est.)
Debt - external:
$14.84 billion (31 December 2012 est.)
country comparison to the world: 86
$19.11 billion (31 December 2011 est.)
Stock of direct foreign investment - at home:
$37.31 billion (31 December 2012 est.)
country comparison to the world: 57
$32.44 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad:
$3.345 billion (31 December 2012 est.)
country comparison to the world: 67
$2.915 billion (31 December 2011 est.)
Exchange rates:
Iranian rials (IRR) per US dollar -
12,175.5 (2012 est.)
10,616.3 (2011 est.)
10,254.18 (2010 est.)
9,864.3 (2009)
9,142.8 (2008)
Iran's economy is marked by statist policies and an inefficient state sector, which create major distortions throughout the system, and reliance on oil, which provides a large share of government revenues. Price controls, subsidies, and other rigidities weigh down the economy, undermining the potential for private-sector-led growth. Private sector activity is typically limited to small-scale workshops, farming, some manufacturing, and services. Significant informal market activity flourishes and corruption is widespread. Tehran since the early 1990s has recognized the need to reduce these inefficiencies, and in December 2010 the Majles passed President Mahmud AHMADI-NEJAD's Targeted Subsidies Law (TSL) to reduce state subsidies on food and energy. This was the most extensive economic reform since the government implemented gasoline rationing in 2007. Over a five-year period the legislation sought to phase out subsidies that previously cost Tehran $60-$100 billion annually and mostly benefited Iran''s upper and middle classes. Cash payouts of $45 per person to more than 90% of Iranian households mitigated initial widespread resistance to the TSL program. However, inflation in 2012 reached its highest level in four years, eroding the value of these cash payouts and motivating the Majles to halt planned price increases for the second half of 2012 through at least March 2013. New fiscal and monetary constraints on Tehran, following international sanctions in January against Iran''s Central Bank and oil exports, significantly reduced Iran''s oil revenue, forced government spending cuts, and fueled a 20% currency depreciation. Economic growth turned negative for the first time in two decades. Iran also continues to suffer from double-digit unemployment and underemployment. Underemployment among Iran''s educated youth has convinced many to seek jobs overseas, resulting in a significant "brain drain."
GDP (purchasing power parity):
$988.4 billion (2012 est.)
country comparison to the world: 18
$1.007 trillion (2011 est.)
$977.7 billion (2010 est.)
note: data are in 2012 US dollars
GDP (official exchange rate):
$541.2 billion (2012 est.)
GDP - real growth rate:
-1.9% (2012 est.)
country comparison to the world: 208
3% (2011 est.)
5.9% (2010 est.)
GDP - per capita (PPP):
$13,000 (2012 est.)
country comparison to the world: 100
$13,400 (2011 est.)
$13,200 (2010 est.)
note: data are in 2012 US dollars
Gross national saving:
30.3% of GDP (2012 est.)
country comparison to the world: 24
36.6% of GDP (2011 est.)
34.7% of GDP (2010 est.)
GDP - composition, by end use:
household consumption: 45.9%
government consumption: 13.3%
investment in fixed capital: 30.6%
investment in inventories: 1.5%
exports of goods and services: 25.3%
imports of goods and services: -16.6%
(2012 est.)
GDP - composition, by sector of origin:
agriculture: 9.8%
industry: 46.2%
services: 44.1% (2012 est.)
Agriculture - products:
wheat, rice, other grains, sugar beets, sugarcane, fruits, nuts, cotton; dairy products, wool; caviar
Industries:
petroleum, petrochemicals, fertilizers, caustic soda, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and non-ferrous metal fabrication, armaments
Industrial production growth rate:
-5.8% (2012 est.)
country comparison to the world: 173
Labor force:
27.05 million
country comparison to the world: 24
note: shortage of skilled labor (2012 est.)
Labor force - by occupation:
agriculture: 25%
industry: 31%
services: 45% (June 2007)
Unemployment rate:
15.5% (2012 est.)
country comparison to the world: 147
14.1% (2011 est.)
note: data are according to the Iranian Government
Population below poverty line:
18.7% (2007 est.)
Household income or consumption by percentage share:
lowest 10%: 2.6%
highest 10%: 29.6% (2005)
Distribution of family income - Gini index:
44.5 (2006)
country comparison to the world: 45
Budget:
revenues: $79.69 billion
expenditures: $92.63 billion (2012 est.)
Taxes and other revenues:
14.7% of GDP (2012 est.)
country comparison to the world: 196
Budget surplus (+) or deficit (-):
-2.4% of GDP (2012 est.)
country comparison to the world: 95
Public debt:
18.4% of GDP (2012 est.)
country comparison to the world: 131
13.9% of GDP (2011 est.)
note: includes publicly guaranteed debt
Fiscal year:
21 March - 20 March
Inflation rate (consumer prices):
19.9% (2012 est.)
country comparison to the world: 216
20.6% (2011 est.)
note: official Iranian estimate
Central bank discount rate:
NA%
Commercial bank prime lending rate:
11% (31 December 2012 est.)
country comparison to the world: 70
11.25% (31 December 2011 est.)
Stock of narrow money:
$42.91 billion (31 December 2012 est.)
country comparison to the world: 50
$40.06 billion (31 December 2011 est.)
Stock of broad money:
$199.9 billion (31 December 2012 est.)
country comparison to the world: 40
$183.5 billion (31 December 2011 est.)
Stock of domestic credit:
$77.74 billion (31 December 2012 est.)
country comparison to the world: 59
$77.6 billion (31 December 2011 est.)
Market value of publicly traded shares:
$107.2 billion (31 December 2011)
country comparison to the world: 43
$86.62 billion (31 December 2010)
$63.3 billion (31 December 2009)
Current account balance:
$-9.307 billion (2012 est.)
country comparison to the world: 174
$59.38 billion (2011 est.)
Exports:
$67.04 billion (2012 est.)
country comparison to the world: 53
$144.9 billion (2011 est.)
Exports - commodities:
petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets
Exports - partners:
China 22.1%, India 11.9%, Turkey 10.6%, South Korea 7.6%, Japan 7.1% (2012)
Imports:
$70.03 billion (2012 est.)
country comparison to the world: 43
$77.81 billion (2011 est.)
Imports - commodities:
industrial supplies, capital goods, foodstuffs and other consumer goods, technical services
Imports - partners:
UAE 33.2%, China 13.8%, Turkey 11.8%, South Korea 7.4% (2012)
Reserves of foreign exchange and gold:
$74.06 billion (31 December 2012 est.)
country comparison to the world: 29
$84.06 billion (31 December 2011 est.)
Debt - external:
$14.84 billion (31 December 2012 est.)
country comparison to the world: 86
$19.11 billion (31 December 2011 est.)
Stock of direct foreign investment - at home:
$37.31 billion (31 December 2012 est.)
country comparison to the world: 57
$32.44 billion (31 December 2011 est.)
Stock of direct foreign investment - abroad:
$3.345 billion (31 December 2012 est.)
country comparison to the world: 67
$2.915 billion (31 December 2011 est.)
Exchange rates:
Iranian rials (IRR) per US dollar -
12,175.5 (2012 est.)
10,616.3 (2011 est.)
10,254.18 (2010 est.)
9,864.3 (2009)
9,142.8 (2008)