Page 13 - IRANRptAug18

4.0 Real Economy
Iran - Main Macro Indicators
2011 2012 2013 2014 2015 2016 2017 Mar-2018
Annual GDP (y/y)
3.8 -6.6 -1.9 4.3 4.4 12.5 4.3 2.9
GDP (per capita) (USD)
6,563.55 7,719.77 7,931.07 6,007.46 5,579.25 4,899.68 5,230.09 5,492.19
GDP: Final consumption expenditure: Private (IRR bn)
2,654,281 3,208,428 4,505,167 5,262,427 5,656,000 6,236,000 7,032,000 1,908,000
GDP: Final consumption expenditure: Government (IRR bn)
578,400 713,990 868,334 1,160,266 1,301,000 1,700,000 1,952,000 665,000
GDP: Gross fixed capital formation, (IRR bn)
1,529,548 1,809,515 2,386,025 3,048,276 2,606,000 2,552,000 2,885,000 994,000
GDP: Exports, (lRR bn)
474,863 473,222 376,386 376,240 421,236 / /
GDP: Imports, (IRR bn)
496,227 449,701 345,821 281,210 265,210 / /
Source: CEIC; Central Bank of Iran
4.1 Industrial production
Iran’s industrial production grew 5.7% y/y in the first quarter of 2018, up from 4.4% y/y in the previous quarter, CEIC data showed. Major industrial production includes oil, petrochemical products and automobiles.
4.2 Inflation 4.2.1 CPI dynamics
Iran’s CPI in second Persian month edges down to 9.1% y/y
Iran’s consumer price index (CPI) edged down to 9.1% y/y in the second month of the current Persian year (ended May 21) from 9.2% y/y in the first month, the Central Bank of Iran reported on May 26.
High inflation remains a nagging worry in Iran. However, according to the officials which track the CPI, the Rouhani administration has—in the first year of its second term of office—managed to keep inflation in the single digits. That has been achieved despite the precipitous drop of more than 50% in the Iranian rial’s (IRR’s) value against foreign currencies over the past year on the
13 IRAN Country Report August 2018
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