Tehran, Iran, April 18
By Mehdi Sepahvand - Trend:
Iran’s national income showed a 10.1 percent growth in last fiscal year (which ended March 20), according to a report by the Parliament Research Center, IRNA news agency reported.
This is while the growth for the preceding fiscal year was -9.5 percent due mostly to falling global oil prices and Iran’s heavy dependence on oil revenues.
During the last fiscal year, however, Iran’s oil export jumped from 1 mbpd to about 2.5 mbpd as the country was freed from sanctions.
Iran’s highest national income dates back to the 2009-2010 fiscal year when it stood at $150.35 billion for in that year Iran was selling 2 mbpd of crude at about $100 per barrel.
In 2012, however, new sanctions isolated Iran from the world economy and limited its oil sale to 1 mbpd, leading to falling of the national income.
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