A sectoral review of the Central Bank of Iran's latest report on Iran's economic growth shows the oil sector had the biggest contribution to the gross domestic product during the first quarter of the current fiscal year (March 21-June 21).
The report released on Sunday shows Iran's economy grew by 1.8% during the period compared with last year's corresponding period. GDP growth, excluding oil production, stood at 0.7%.
In fact, the oil sector, with a 5.2% growth, single-handedly accounted for about 1.2% of the overall 1.8% growth in the overall economy during the first quarter, meaning oil production had a 66.66% share from Iran's economic growth.
The CBI report also shows the services sector grew by 1.1% while the sectors of agriculture and the "industries and mines" grew by 0.3% and 0.1% respectively.
September 17, 2018 19:35
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CBI: Oil Remains Biggest Contributor to Economic Growth
The oil sector, with a 5.2% growth, single-handedly accounted for about 1.2% of the overall 1.8% economic growth during the first quarter, meaning oil production had a 66.66% share in Iran’s economic growth
The services sector grew by 1.1% while the agriculture and the “industries and mines” sectors grew by 0.3% and 0.1% respectively
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