Iran’s gross domestic product growth reaches 3.7% during the first three quarters of the current fiscal year (March 21-Dec. 21, 2022) compared with the preceding year’s corresponding period, the Central Bank of Iran said in a new report.
Excluding oil production, the growth rate stood at 3.2%, the report added.
The economic sectors of “agriculture”, “oil”, “industries and mines”, and “services” registered 1.1%, 9.3%, 5.6% and 2.8% growth during the period, respectively.
“Services” has 12 sub-sectors, among which “accommodation and food services” saw the highest growth rate with 19.4% and “education” saw the lowest of -10.5%.
The CBI report, which put Q1, Q2 and Q3 rates at 2.2%, 3.6% and 5.3% respectively, came a few days after the Statistical Center of Iran put Q1-3 economic growth at 3.3%, saying without oil it reached 2.9%.
According to SCI, the “industries and mines”, and “services” groups registered 5.3% and 2.6% growth respectively while “agriculture” contracted by 4.3%.
The broad “industries and mines” group has five sub-categories of “crude oil extraction”, “other mines”, “industries”, “energy” and “construction”, which registered 5.6%, 0.9%, 5.1%, 9.5% and -2.2% growth rates, the center added.
The SCI report put Q1 and H1 growth at 5.3% and 3.6% respectively. It had earlier put last Iranian year’s (March 2021-22) growth at 4.3%, saying GDP saw a 3.5% rise without taking crude oil production into account and that the sectors of agriculture, industries and services experienced 3.7%, 6% and 4.5% growth respectively.
According to the Central Bank of Iran, the economy registered 4.4% growth in the fiscal 2021-22. It said the GDP growth stood at 3.9% excluding crude oil production. And that the “services”, “oil and gas”, “industries and mines” and “agriculture” groups saw a respective growth rate of 6.5%, 10.1%, 1.1% and -2.6%.
According to the CBI report, the growth rate stood at 3.2% in the three quarters, excluding crude oil production
According to CBI, Iran’s gross domestic product in the fiscal 2020-21 saw 3.6% growth. Economic growth, excluding oil, expanded by 2.5%.
According to SCI, the year’s GDP expanded by 0.7% compared with the year before.
Economic growth, excluding oil, was near zero, SCI reported.
Discrepancies were also seen in SCI and CBI reports on Iran's economic growth in the fiscal 2019-20.
According to SCI, the Iranian economy experienced a -7% contraction in the fiscal 2019-20. It noted that the GDP shrank by -0.6%, without taking oil production into account.
This is while CBI put the fiscal 2019-20 growth at -6.5%. Excluding the oil sector, growth was put at 1.1%.
Iran's gross domestic product shrank by 4.9% in the fiscal 2018-19 compared to the previous year, according to SCI. The center put that year's growth without taking oil production into account at -2.4%.
CBI did not release any report on the fiscal 2018-19 economic growth.
Iran’s economy emerged from recession in the fiscal 2014-15 with a 3% growth after two years of recession when the economy contracted 5.8% and 1.9% back to back, according to the Central Bank of Iran.
Growth in 2015-16 has been put at -1.6% by CBI and 0.9% by SCI.
CBI has put 2016-17 growth at 12.5% while SCI says it was much lower and near 8.3%.
