Economy, Domestic Economy
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Uptick in Industrial Activity

Uptick in Industrial ActivityUptick in Industrial Activity

The government issued more than 15,000 permits for the construction of industrial units with an investment of 1.16 quadrillion rials ($30.7 billion) in the 11 months of the past Iranian year (March 20, 2016-February 18, 2017).

This indicates a 4.4% growth in the number of applications and a 13.5% rise in investment compared with the similar period of a year before, according to the Ministry of Industries, Mining and Trade.

During the period, the government issued 4,564 operation permits for industrial projects worth an aggregate of 2.3 quadrillion rials ($60 billion), which indicate a 10% rise in the number of permits and a 50% hike in investment compared with last year’s corresponding period, Mehr News Agency reported.

The industrial sector was the main driver of economic growth during the first three quarters of the previous Iranian year (ended March 20, 2017).

Details of Iran's GDP growth during the period released by the Statistical Center of Iran show that the industrial sector grew by 10.5%.

The Central Bank of Iran says the Iranian economy grew 11.9% during the three quarters, putting industrial growth at 5.8%.

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