Services Exports TOP $7b

Close to $7.34 billion worth of services were exported from Iran during the eight months to Nov. 21, registering a 7.5% increase compared with the corresponding period of last year, an official with the Trade Promotion Organization of Iran announced. “Over the period, $554 million worth of technical and engineering services were exported, indicating an 80% hike year-on-year,” Mahmoud Eskandari was also quoted as saying by IRNA. According to the Statistical Center of Iran, the services sector saw the highest growth of 7.2% among all Iranian economic sectors during the  first half of the current fiscal (March 21-Aug. 22) compared with last year’s corresponding period. Iran’s GDP grew by 5.6% during the period.  SCI has put H1 growth at 6%, without taking into account oil production. The services sector comprises wholesale and retail trade; restaurants and hotels; transport, storage and communications; financing, insurance, real estate and business services; as well as community, social, education, health and personal services. According to First Vice President Es’haq Jahangiri, the domestic services sector accounts for 47-48% of Iran’s gross domestic product.