Early 3% economic growth in Iran last year despite sanctions

Pars Today - The Research Center of Iran’s Parliament announced that the economic growth of the Islamic Republic of Iran for last year (1403 in the Iranian calendar) was nearly 3%.

On Monday, the Research Center of Iran’s Parliament released a report on the latest status of Iran’s economic growth. According to Pars Today, based on the center’s calculations, Iran's economic growth for the fiscal year 1403 compared to 1402 was estimated at 2.8%, while non-oil economic growth was estimated at 2.7%.

According to the report, Iran's economic growth in the month of Esfand (the last month of the Iranian calendar year 1403, corresponding roughly to February-March 2024) compared to the same month the previous year was 3.6%, and non-oil economic growth was estimated at 4.2%.

The estimates from the center also indicate that in Esfand 1403 compared to the same period the previous year, the value added in the "agriculture" sector grew by 4.6%, the "industry and mining" group by 3.1%, and the "services" group by 5.1%.

Based on the results of the estimates from this center, Iran's gross domestic product (GDP), including oil, grew by 3.6% in Esfand 1403, with non-oil GDP growing by 4.2%.

MG/ME