Baku, Azerbaijan, March 19
By Gazenfer Hamidov – Trend:
Central Bank of Iran (CBI) has published a report unveiling the country’s GDP growth details for the first nine months of the current fiscal year, started March 2017.
The CBI said that Iran's GDP at purchasing power parity, compared to prices of a base year to March 21, 2012, increased by 3.4 percent in the 9-month period.
Meanwhile the country’s statistical center put the figure at 4.4 percent for the period in a report released last week.
According to the CBI, country's GDP (including the oil sector) reached 5,205.8 trillion rials (each USD makes 37,700 rials based on official rate) in the period.
Iran’s GDP (excluding the oil sector) accounted for 4,048 trillion rials, registering a growth by 4.1 percent.
The CBI report covers data on a wide range of economic sectors, such as agriculture, oil, mining, energy, construction, services, trade, hospitality, finance and credit, telecommunication, and transportation sectors.
Value growth of the oil sector stood at 1.3 percent in the 6-month period to Dec. 20, 2017 and accounted to 1,157.8 trillion rials (compared to prices of a base year to March 21, 2012), meanwhile the value of industry and mining sector registered a 4.6 percent rise to 1,213.44 trillion rials.
Iran's agriculture sector also witnessed a 4.1 percent growth in the 9-month period (444.16 trillion rials).
Value of the service sector reached 2,519.72 trillion rials, 3.7 percent more year-on-year.
This CBI put the GDP growth rate for the last fiscal year at 12.5 percent, thanks to Iran’s huge oil exports following the removal of international sanctions.
The International Monetary Fund (IMF) through its latest report has anticipated a GDP growth of 3.8 percent for Iran in 2018.
The figure shows improvement from the international body’s announced outlook for 2017, which was 3.5 percent.
The country’s GDP growth downed to -6.6 percent in 2012 under the pressure of the intensified international sanctions against Tehran due to its disputed nuclear program.
The growth revived to -1.9 and 4.3 percent in subsequent years, but decreased again to 0.4 percent in 2015, the last year of Iran under the sanctions.