Flag: three equal horizontal bands of green (top), white, and red; the national emblem (a stylized representation of the word Allah) in red is centered in the white band; Allah Akbar (God is Great) in white Arabic script is repeated 11 times along the bottom edge of the green band and 11 times along the top edge of the red band
- Economy Overview: Since the 1979 revolution, the banks, petroleum industry, transportation, utilities, and mining have been nationalized, but the new five-year plan—the first since the revolution—passed in January 1990, calls for the transfer of many government-controlled enterprises to the private sector. War-related disruptions, massive corruption, mismanagement, demographic pressures, and ideological rigidities have kept economic growth at depressed levels. Oil accounts for 90% of export revenues. A combination of war damage and low oil prices brought a 2% drop in GNP in 1988. GNP probably rose slightly in 1989, considerably short of the 3.4% population growth rate in 1989. Heating oil and gasoline are rationed. Agriculture has suffered from the war, land reform, and shortages of equipment and materials. The five-year plan seeks to reinvigorate the economy by increasing the role of the private sector, boosting nonoil income, and securing foreign loans. The plan is overly ambitious but probably will generate some short-term relief.
GNP: $97.6 billion, per capita $1,800; real growth rate 0-1% (1989)
Inflation rate (consumer prices): 50-80% (1989)
Unemployment rate: 30% (1989)
Budget: revenues $NA; expenditures $55.1 billion, including capital expenditures of $11.5 billion (FY88 est.)
Exports: $12.3 billion (f.o.b., 1988); commodities—petroleum 90%, carpets, fruits, nuts, hides; partners—Japan, Turkey, Italy, Netherlands, Spain, France, FRG
Imports: $12.0 billion (c.i.f., 1988); commodities—machinery, military supplies, metal works, foodstuffs, pharmaceuticals, technical services, refined oil products; partners—FRG, Japan, Turkey, UK, Italy
External debt: $4-5 billion (1989)
Industrial production: growth rate NA%