The Gross Domestic Product (GDP) in Iran was worth 404.63 billion US dollars in 2023, according to official data from the World Bank. The GDP value of Iran represents 0.38 percent of the world economy. This dataset provides - Iran GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Det Bruttonationalprodukt (BNP) i Iran steg med 3,40 procent i tredje kvartal af 2024 i forhold til samme kvartal året før. Aktuelle værdier, historiske data, prognoser, statistik, diagrammer og økonomisk kalender - Iran - BNP, Årlig Growth Rate.

Key information about Iran Real GDP Growth

• The Gross Domestic Product (GDP) in Iran expanded 5.0 % YoY in Mar 2022, following a growth of 6.7 % in the previous quarter.
• Real GDP Growth YoY data in Iran is updated quarterly, available from Jun 1989 to Mar 2022, with an average rate of 3.9 %.
• The data reached an all-time high of 22.7 % in Jun 1992 and a record low of -16.0 % in Sep 2008.

CEIC calculates Real GDP Growth from quarterly Real GDP. The Central Bank of the Islamic Republic of Iran provides Real GDP in local currency, at 2016-2017 prices. Real GDP Growth prior to Q1 2020 is calculated from Real GDP at 2011-2012 prices. Real GDP Growth prior to Q2 2005 is calculated from Real GDP at 1997-1998 prices.


Related information about Iran Real GDP Growth

• In the latest reports, Nominal GDP of Iran reached 429.4 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• GDP Per Capita in Iran reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

Iran’s gross domestic product (GDP) inclined by 3.33 percent in 2020 after adjusting for inflation. This figure fell from 13.4 percent growth four years ago, which had been a reaction to sanctions lifting after the Joint Comprehensive Plan of Action (JPCOA) regarding Iran’s nuclear program. United States president Donald Trump ended that country’s participation in the deal, imposing new sanctions.

Political influence on the economy

Political tensions have hampered the economy of Iran, keeping growth low in spite of the country’s considerable oil reserves. The effect of these sanctions becomes obvious when looking at Iran’s oil exports to Europe over the past decade. Some analysts have blamed the new sanctions for the increase in Iran’s inflation rate, as well as the currency depreciation that has accompanied it.

Iran’s options

Although Iran’s main export partners are largely in Asia, many of the transactions are carried out using U.S. dollars. Even though other means of payment are possible, some countries worry about political ramifications of continuing trade relations with Iran. Iran’s greatest strength at the moment may be its low national debt, meaning that it can borrow a substantial amount of money if it can find a willing lender. However, given the instability of the political situation worldwide and regionally, it is difficult to assume that such a borrower exists at the moment.

The Gross Domestic Product per capita in Iran was last recorded at 5667.53 US dollars in 2023. The GDP per Capita in Iran is equivalent to 45 percent of the world's average. This dataset provides - Iran GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross domestic product (GDP) in current prices in Iran was forecast to continuously increase between 2024 and 2029 by in total 165.7 billion U.S. dollars (+38.16 percent). After the sixth consecutive increasing year, the GDP is estimated to reach 599.9 billion U.S. dollars and therefore a new peak in 2029. The gross domestic product at current prices is defined based upon the GDP in national currency converted to U.S. dollars using market exchange rates (yearly average). The GDP represents the total value of final goods and services produced during a year.Find more key insights for the gross domestic product (GDP) in current prices in countries like Jordan, Qatar, and Iraq.

Graph and download economic data for Gross Domestic Product for Islamic Republic of Iran (MKTGDPIRA646NWDB) from 1960 to 2023 about Iran and GDP.

Key information about Iran GDP Per Capita

• Iran Gross Domestic Product (GDP) per Capita reached 11,556.954 USD in Mar 2021, compared with 7,842.602 USD in Mar 2020.
• Iran GDP Per Capita data is updated yearly, available from Mar 1960 to Mar 2021, with an average number of 2,962.524 USD.
• The data reached an all-time high of 14,199.317 USD in Mar 1992 and a record low of 185.008 in Mar 1960.
• CEIC calculates GDP per Capita from annual Nominal GDP and annual Population and converts it into USD. The Central Bank of the Islamic Republic of Iran provides Nominal GDP in local currency. The Statistical Center of Iran provides Population. The Central Bank of the Islamic Republic of Iran average market exchange rate is used for currency conversions. GDP per Capita is in annual frequency, ending in March of each year.

Related information about Iran GDP Per Capita data

• In the latest reports, Iran GDP expanded 4.987 % YoY in Mar 2022.
• Iran Nominal GDP reached 429.427 USD bn in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.545 % in Mar 2022.
• Gross Savings Rate of Iran was measured at 36.850 % in Mar 2022.

The gross domestic product (GDP) per capita in Iran was forecast to continuously increase between 2024 and 2029 by in total 1,573.1 U.S. dollars (+31.38 percent). According to this forecast, in 2029, the GDP per capita will have increased for the sixth consecutive year to 6,585.94 U.S. dollars. This indicator describes the gross domestic product per capita at current prices. Thereby the gross domestic product was first converted from national currency to U.S. dollars at current exchange prices and then divided by the total population. The gross domestic products is a measure of a country's productivity. It refers to the total value of goods and service produced during a given time period (here a year).Find more key insights for the gross domestic product (GDP) per capita in countries like Syria, Lebanon, and Yemen.

The Gross Domestic Product per capita in Iran was last recorded at 15912.03 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in Iran, when adjusted by Purchasing Power Parity is equivalent to 90 percent of the world's average. This dataset provides - Iran GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Key information about Iran Nominal GDP

• Iran Nominal GDP reached 429.4 USD bn in Mar 2022, compared with 429.4 USD bn in the previous quarter.
• Nominal GDP in Iran is updated quarterly, available from Jun 1988 to Mar 2022, with an average number of 90.0 USD bn.
• The data reached an all-time high of 429.4 USD bn in Mar 2022 and a record low of 12.8 USD bn in Mar 1994.

CEIC converts quarterly Nominal GDP into USD. The Central Bank of the Islamic Republic of Iran provides Nominal GDP in local currency. The Central Bank of the Islamic Republic of Iran average market exchange rate is used for currency conversions.


Related information about Iran Nominal GDP

• In the latest reports, Iran GDP expanded 5.0 % YoY in Mar 2022.
• Its GDP deflator (implicit price deflator) increased 51.5 % in Mar 2022.
• Iran GDP Per Capita reached 11,557.0 USD in Mar 2021.
• Its Gross Savings Rate was measured at 36.8 % in Mar 2022.
• For Nominal GDP contributions, Investment accounted for 32.9 % in Mar 2022.
• Public Consumption accounted for 18.0 % in Mar 2022.
• Private Consumption accounted for 45.2 % in Mar 2022.

Iran IR: GDP: Market Price: Linked Series data was reported at 14,827,384,492.000 IRR mn in 2017. This records an increase from the previous number of 13,151,260,000.000 IRR mn for 2016. Iran IR: GDP: Market Price: Linked Series data is updated yearly, averaging 1,258,128,741.594 IRR mn from Dec 1989 (Median) to 2017, with 29 observations. The data reached an all-time high of 14,827,384,492.000 IRR mn in 2017 and a record low of 27,232,178.019 IRR mn in 1989. Iran IR: GDP: Market Price: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iran – Table IR.World Bank: Gross Domestic Product: Nominal. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. Data are in current local currency.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

Iran’s inflation rate rose sharply to 34.79 percent in 2019 and was projected to rise another 14 percentage points before slowly starting to decline. Given the recent sanctions by the United States regarding the nuclear deal, this number has both political and economic implications. Political implications President Hassan Rouhani won the 2017 election based on economic promises, many stemming from the Joint Comprehensive Plan of Action (JCPOA), commonly known as the Iran Nuclear Deal. Lifting these sanctions opened the Iranian economy to many opportunities, including the chance to benefit from increased oil exports. The JCPOA was an integral part of the Rouhani campaign, so any economic hardship that is linked to the deal will likely be blamed on the president. Economic implications High inflation leads to high interest rates, which leads to less borrowing. Less borrowing means less investment, which slows economic growth. This slower growth often leads to higher inflation, which is what economists call an inflationary spiral. As such, Iran will have difficulty achieving substantial GDP growth until inflation returns to manageable rates.

GNI (formerly GNP) is the sum of value added by all resident producers plus any product taxes (less subsidies) not included in the valuation of output plus net receipts of primary income (compensation of employees and property income) from abroad. Data are in current U.S. dollars. GNI, calculated in national currency, is usually converted to U.S. dollars at official exchange rates for comparisons across economies, although an alternative rate is used when the official exchange rate is judged to diverge by an exceptionally large margin from the rate actually applied in international transactions. To smooth fluctuations in prices and exchange rates, a special Atlas method of conversion is used by the World Bank. This applies a conversion factor that averages the exchange rate for a given year and the two preceding years, adjusted for differences in rates of inflation between the country, and through 2000, the G-5 countries (France, Germany, Japan, the United Kingdom, and the United States). From 2001, these countries include the Euro area, Japan, the United Kingdom, and the United States.

Iran recorded a Government Budget deficit equal to 5.50 percent of the country's Gross Domestic Product in 2023. This dataset provides - Iran Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Remittance inflows to GDP (%) in Iran was reported at 0.5744 % in 2020, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iran - Remittance inflows to GDP - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Iran IR: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 8.097 % in 2017. This records an increase from the previous number of 1.607 % for 2016. Iran IR: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 22.739 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 46.172 % in 1993 and a record low of 0.429 % in 2015. Iran IR: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Iran – Table IR.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

Government Spending in Iran increased to 1977377 IRR Billion in 2023 from 1694088 IRR Billion in 2022. This dataset provides - Iran Government Spending- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Trade (% of GDP) in Iran was reported at 52.18 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Iran - Trade (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Key information about Iran Current Account Balance

• Iran Current Account recorded a surplus of 14.2 USD bn in Mar 2023, compared with a surplus of 11.1 USD bn in the previous year.
• Iran Current Account Balance: USD mn data is updated yearly, available from Mar 1997 to Mar 2023, with an averaged value of 11.1 USD bn.
• The data reached an all-time high of 58.5 USD bn in Mar 2012 and a record low of -3.9 USD bn in Mar 1999.
• CEIC extends history for annual Current Account Balance. The Central Bank of the Islamic Republic of Iran provides Current Account Balance in USD based on BPM5. Current Account Balance prior to 1998 is based on BPM4. Current Account Balance is in annual frequency, ending in March of each year.
• Foreign Direct Investment (FDI) increased by 838.3 USD mn in Dec 2021.
• Iran Direct Investment Abroad expanded by 156.0 USD mn in Dec 2018.
• Its Foreign Portfolio Investment increased by 45.6 USD mn in Dec 2021.
• The country's Nominal GDP was reported at 429.4 USD bn in Mar 2022.