Iran Economy Shrinks 1.9% in Half-Year Fiscal Performance

Iran’s gross domestic product contracted by 1.9% during the first half of the current fiscal year (March 20-Sept. 21) compared with the corresponding period of last year, the Statistical Center of Iran’s latest report shows.
Economic growth, excluding oil, stood at -1.3%, the report added.
A sectoral breakdown of growth rates in the report shows that only “agriculture” and “industries and mining” sectors experienced growth with 1.7% and 2% respectively.
The “industries and mining” contracted 0.7% and “services” sector contracted 3.5%.
SCI also reported economic growth in the second quarter of the current year (June 21-Sept. 21): Iran’s GDP expanded 0.2% in Q2 while it shrank 0.2%, excluding oil sector. The “agriculture” sector saw a 2.7% expansion, “industries and mining” 4% while “industries and mining sector” expanded 4.2%. The “services” sector, however, contracted by 3% in Q2.