Iran (IMNA) - The country’s gross domestic product (GDP) reached 100,260 trillion rials (over $125 billion at free market prices) for the year 1403, up from 97,301 trillion rials in the previous year.
Using fixed prices from 2021 as the baseline, the SCI reported that Iran’s GDP excluding oil expanded by 2.1%, reaching 76,140 trillion rials. The manufacturing and mining sector, which includes the oil industry, was the strongest performer with a 3.4% growth. Notably, the petroleum sector grew by 6.2% during this period.
Agriculture and services sectors also showed growth, increasing by 3.2% and 2.5%, respectively. However, growth in the oil and gas sector slowed by 1.9% compared to the previous year. Oil accounted for 24.7% of Iran’s economy, with the sector’s GDP totaling 24,119 trillion rials. The services sector contributed more than 40% of the economy, with a GDP of 38,746 trillion rials.
The SCI’s growth figures tend to be more conservative compared to those from the Central Bank of Iran (CBI), which reported approximately 3.7% growth for the three quarters ending in December 2024. Despite challenges such as inflationary pressures from foreign sanctions and global supply chain disruptions, Iran’s economy has maintained steady growth over the past four years.
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