SCI: Iran’s Economy grows 3% in 1403, including oil sector

SHANA (Tehran) – The Statistical Center of Iran (SCI) has reported a 3% economic growth for the country in 1403 (ended March 20) when including oil, and 2.1% without it.

According to the SCI, Iran’s gross domestic product (GDP) at constant 1400 (2021) prices reached 100.26 quadrillion rials including oil, and 76.14 quadrillion rials excluding oil. In comparison, GDP in the previous year was 97.3 quadrillion rials with oil and 74.58 quadrillion rials without oil. This indicates a 3% GDP growth with oil and 2.1% without oil in 1403.

Sectoral data shows that the agriculture sector grew 3.2% in 2024 compared to the previous year. The industry and mining group expanded by 3.4%, broken down as follows: crude oil and natural gas extraction rose 6.2%, other mining activities 0.5%, manufacturing 1.6%, natural gas distribution 0.5%, water and electricity supply 2.4%, and construction 5%. The services sector grew 2.5%.

The SCI conducts quarterly calculations based on 18 main categories comprising 50 subsectors, classified according to ISIC Rev. 7. The agriculture group includes farming, livestock, forestry and fishing. The industry and mining group covers crude oil and gas extraction, other mining, manufacturing, water and electricity supply, gas distribution and construction. The services group includes wholesale and retail trade, accommodation and food services, transportation, warehousing, postal services, information and communications, finance and insurance, real estate, business services, public administration, education, health and social work, and other public, social, personal and household services.

News ID 659699

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