Iran’s economic growth stands at 6.5%
Baku, Azerbaijan, Sept. 6
By Fatih Karimov– Trend:
Iran's GDP at purchasing power parity, compared to prices of a base year to March 21, 2012 increased by 6.5 percent during the first three months of current fiscal year (March 20-June 21).
The country's GDP (including the oil sector) reached 1,836.427 trillion rials (about $55 billion based on official rate of 33,000 rials per each USD) during the 3-month period (based on prices in the Iranian fiscal year of 1390), the Statistical Center of Iran reported Sept. 6.
Meanwhile Iran’s GDP (excluding the oil sector) accounted for 1,456.693 trillion rials, registering a growth by 7 percent.
Value growth of the industry sector (including oil, mining, industry, energy and construction) stood at 4.9 percent in the period, meanwhile the service sector (including trade, hospitality, finance and credit, and transportation) registered a 8.3 percent rise, the Statistical Center of Iran said.
Iran's agriculture sector also witnessed a 3.1 percent value growth in the 3-month period.
On May 2, the International Monetary Fund (IMF) forecasted that Iran’s GDP growth will stand at 3.3 percent in 2017.
“Iran’s nominal GDP would stand at $368.5 billion in the current year,” IMF said in its outlook for the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) report.
IMF says Iran is expected to see non-oil growth accelerate from 0.75 percent in 2016 to almost 3.5 percent in 2017.