GDP growth at 1.8% in spring

September 18, 2018

TEHRAN- Iran's growth of gross domestic product (GDP) stood at 1.8 percent in the first three months of the current Iranian calendar year 1397 (March 21-June 21), corresponding to spring 2018, data released by Central bank of Iran (CBI) showed.

As reported by IRNA, based on the fixed prices in the Iranian year 1390 (ended March 19, 2012), the country’s GDP stood 1.67 quadrillion rials (about $39.9 billion) in this Iranian fiscal year’s first quarter.

Iran’s economic growth, not including the oil sector, stood at 0.7 percent, CBI data indicated.

The significant fall in Iranian rial’s value is said to be the main contributor to the steep decrease in the country’s GDP growth.

According to Statistical Center of Iran (SCI), growth of non-oil GDP hit 4.3 percent in the previous Iranian calendar year 1396 (ended on March 20, 2018).
 
The figure including oil sector reached 3.7 percent, the SCI reported.

Iran’s GDP grew by 6.3 percent during the Iranian calendar year 1395, according to the previous SCI report.

GDP growth, including the oil sector, touched 8.3 percent in that year.  

EF/MG

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