Iran's economy grew at 3.3% in the three quarters up to December

According to data from the Iranian government's statistics agency (SCI), the country's economy grew by 3.3% in the three quarters ending December 21 last year.

Iran (IMNA) - Iran’s Gross domestic product (GDP) increased to 58,250 trillion rials ($117 billion) in the nine months leading up to December from 56,410 trillion rials reported over the quarter  to December 2021, according to the data announced by Statistical Centre of Iran on Thursday.

According to the Statistical Center of Iran, GDP in Iran's non-oil sector increased by 2.9% year over year between March and December last year, reaching 50,010 trillion rials.

For its GDP calculations, the agency uses fixed prices recorded in 2011 as a baseline.

The price of the US dollar in the Iranian market was over 18,000 rials in 2011, and it is now around 498,000 rials.

As announced by SCI, Iran's manufacturing and mining sector, which includes oil and gas production, grew by 5.3% year on year in the three quarters leading up to late December last year.

According to SCI data, the Iranian services sector increased by 2.6% while agriculture fell by 4.3% from March to December 2022.

The findings come after the Central Bank of Iran reported 3.6% GDP growth for the Iranian economy in the three months to late September.

Iran's economy grew at 3.3% in the three quarters up to December

News ID 646668


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