Overview: Iran's economy is a mixture of central planning, state ownership of oil and other large enterprises, village agriculture, and small-scale private trading and service ventures. Over the past several years, the government has introduced several measures to liberalize the economy and reduce government intervention, but most of these changes have moved slowly because of political opposition. Iran has faced increasingly severe financial difficulties since mid-1992 due to an import surge that began in 1989 and general financial mismanagement. At yearend 1993 the Iranian Government estimated that it owed foreign creditors about $30 billion; an estimated $8 billion of this debt was in arrears. At yearend 1994, Iran rescheduled $12 billion in debt. Earnings from oil exports - which provide 90% of Iran's export revenues - are providing less relief to Iran than usual because of reduced oil prices.
National product: GDP - purchasing power parity - $310 billion (1994 est.)
National product real growth rate: -2% (1994 est.)
National product per capita: $4,720 (1994 est.)
Inflation rate (consumer prices): 35% (1994)
Unemployment rate: over 30% (1994 est.)
Budget: revenues: $NA expenditures: $NA, including capital expenditures of $NA
Exports: $16 billion (f.o.b., FY92/93 est.) commodities: petroleum 90%, carpets, fruits, nuts, hides partners: Japan, Italy, France, Netherlands, Belgium/Luxembourg, Spain, and Germany
Imports: $18 billion (c.i.f., FY92/93 est.) commodities: machinery, military supplies, metal works, foodstuffs, pharmaceuticals, technical services, refined oil products partners: Germany, Japan, Italy, UK, UAE
External debt: $30 billion (December 1993)