11 April 2023 - 15:44
  • News ID: 471088
Spox: Iran oil sector’s annual economic growth up 15.4%

SHANA (Tehran) – The Central Bank of Iran (CBI) report showed a 15.4 percent economic growth in the country’s oil sector in the previous Iranian year, which ended on March 20, 2023, said the administration’s economic spokesman on Tuesday.

Announcing the growth in a press conference, Seyyed Ehsan Khandouzi pointed to statistics and macroeconomic indicators and added, “Last Year, we managed to handle the government’s budget and financial affairs without borrowing from CBI while last year’s construction budget witnessed an increase.”

Based on the CBI report, he continued, the non-oil economic growth rate in the previous year stood at 4.5 percent and hit 5.3 percent if the oil sector’s growth is calculated.

The oil sector’s annual economic growth was 15.4 percent, reiterated the spokesperson, adding the industrial sector had an 8.4 percent growth.

Elaborating on the country’s imports and exports during the yearlong period, Khandouzi said, “China, Iraq, Turkey, the United Arab Emirates (UAE), and India were respectively the main target markets for exporting Iranian-made products.”

According to him, non-oil exports in the 12-month period fetched the country over $53 billion, a 9.7 percent increase from its preceding year and the highest revenue in the recent past years.

News ID 471088


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