{"id":11924,"date":"2024-09-19T08:44:35","date_gmt":"2024-09-19T08:44:35","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=11924"},"modified":"2024-09-19T08:44:35","modified_gmt":"2024-09-19T08:44:35","slug":"irans-gdp-growth-stands-at-3-2-in-q1-cbi","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/11924\/","title":{"rendered":"Iran\u2019s GDP growth stands at 3.2% in Q1: CBI"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Iran’s gross domestic product (GDP) including oil grew 3.2 percent in the first quarter of the current Iranian calendar year (March 20-June 21), compared to the first quarter of last year, according to the Central Bank of Iran (CB).<\/p>\n

According to the CBI Economic Accounts Department, GDP to the base price (fixed prices in 2016), the figure excluding oil increased by 2.5 percent, IRNA reported.<\/p>\n

As previously announced by the CBI, Iran’s GDP grew 4.5 percent in the previous Iranian calendar year compared to a year earlier. The figure excluding oil increased by 3.6 percent.<\/p>\n

In addition, the country\u2019s economic growth without oil included in the mentioned period reached 3.9 percent.<\/p>\n

The realization of 4.5 percent economic growth in the previous Iranian calendar year indicates the continuation of the growing trend of economic activities in the country.<\/p>\n

Earlier, the World Bank (WB), predicted that Iran\u2019s economy would grow 3.2 percent in 2024 and the inflation rate would decrease to 35 percent.<\/p>\n

According to the estimate of the international body, Iran\u2019s economy experienced a five percent growth and a 40.8 percent inflation in 2023.<\/p>\n

The bank has forecast that the industrial sector in Iran will take the lead in 2024, experiencing a 4.9 percent growth, followed by the services and agricultural sectors with a 2.7 and 0.9 percent growth.<\/p>\n

In addition, the World Bank has predicted that Iran\u2019s export of goods and services will exceed 7.1 percent in 2024 compared to the preceding year.<\/p>\n

Also, the bank expects that import of products into the country will experience a 1.8 percent growth in 2024 compared to a year earlier.<\/p>\n

The balance of Iran\u2019s current accounts will also experience positive growth and reach 2.7 percent of the GDP in 2024.<\/p>\n

In late February, the International Monetary Fund (IMF) reported the Iranian economic growth in 2023 to be 5.4 percent.<\/p>\n

The head of Iran\u2019s Plan and Budget Organization (PBO) said the country\u2019s 5.4 percent economic growth in 2023 was the second-highest rate in the world.<\/p>\n

IMF also increased its estimate of Iran\u2019s economic growth in 2024, citing a higher-than-expected surge in the country\u2019s oil production.<\/p>\n

The IMF, in its report published on February 22, forecast a 3.7 percent economic growth for Iran in 2024 while the figure in its October prediction was 2.5 percent.<\/p>\n

The IMF data showed that Iran\u2019s economic growth reached 5.4% in 2023 while the international agency had predicted a three percent growth for the country in the previous year.<\/p>\n

Updated on