Iran’s non-oil GDP growth seen to reach 1.8%: report

February 12, 2020 - 16:48

TEHRAN - Iran's gross domestic product, excluding the oil sector, is expected to register a positive growth rate of 1.8 percent in the current fiscal year (March 21, 2019-March 19, 2020), Majlis research center said in a report on Iran’s economy.

“Although due to the significant negative growth rate of the oil sector, economic growth in the country will continue to be negative in 1398 [the current calendar year] but oil-free economic growth is estimated at 1.8 percent for the year,” the report said.

The report sees the growth for the country’s agriculture, industries, energy, construction, and services sectors at 5.5 percent, 1.5 percent, and 10 percent, as well as 14.5 and 0.5 percent, respectively for the current Iranian calendar year.

Earlier this week, the Statistical Center of Iran (SCI) reported that the country’s non-oil gross domestic product has recorded a positive growth rate of 0.9 percent in the third quarter of the current fiscal year (September 23-December 21, 2019).

The overall GDP growth, including oil production, however, stood at -1.7 percent for the period, new data provided by the head of the Statistical Center of Iran, Javad Hosseinzadeh, showed.

Economic growth in the first three quarters has been put at -7.6 percent. By excluding oil, the figure stands at 0 percent.

The sectors of agriculture, industries, and mines, and services registered the growth rates of 3.2 percent, -16.6 percent and -0.2 percent, respectively for the three quarters.

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