Report: Road accidents in Iran equal 8.5 percent of country’s GDP

Business Materials 6 November 2013 12:13 (UTC +04:00)

Baku, Azerbaijan, Nov. 6

By Fatih Karimov - Trend: Road accidents in Iran amount to approximately 8.5 percent of the country's Gross Domestic Product Fars News Agency reported Nov. 6.

The report issued by the Iranian news agency was citing data released by the Iranian Parliament's Research Center.

The report added that the number of road accidents has been on the rise during the past two decades, reaching an all time high of 117,256 accidents in 2011 from 32,505 accidents in 1994.

Moreover, the number of persons who died during the accidents has increased.

The losses are estimated to be over 510 trillion rials (about $21 billion based on the US dollar official exchange rate of 24,900 rials) in the Iranian calendar year 1390 (March 2011-March 2012).

In August, the Central Bank of Iran reported that the country's GDP growth rate (excluding oil sector) was 3.2 percent in the Iranian calendar year 1390, which ended in March 2012, ISNA reported.

This is while the Statistical Center of Iran had put the figure at 3 percent.

The central bank has said that the GDP growth rates were 6.38 percent, 3.16 percent, and 0.83 percent in years 1389, 1388, and 1387 respectively, while the statistical centers has put the figures at 5.8 percent, 3 percent, and 0.8 percent respectively.

In July, former Iranian Finance And Economic Affairs Minister Shamseddin Hosseini said that the country's GDP is on the verge of $1 trillion, and that the country's national economy stands at 17th place in the world.

Meanwhile, the International Monetary Fund has said that Iran's GDP at current US$ stood at $482 billion in 2010, standing at the 25 place in the world. Iran is in 79th place in terms of per GPD per capita.

The World Bank also estimated that Iran's GDP in 2011 was $514.059 billion.

Considering that Iran faced 1.9 percent economic contraction in 2012 and the national currency devalued by 40 percent during that year, the GDP at current US$ has even decreased below $482 billion.