Page 17 - bne IntelliNews Country Report: Iran Dec17

5.0 External Sector & Trade
5.1 Balance of payments and current account
5.1.1 current account dynamics
Iran current account, USD mn
2011
2012
2013
2014
2015
2016
Balance of payments overall
-947
21,436
12,213
13,189
8,561
2,233
Current account
27,554
58,507
23,362
25,105
15,861
9,016
Current account: Goods
37,330
67,779
28,563
29,326
21,392
12,178
Current account: Exports
112,788
145,806
97,296
92,910
86,471
64,597
Current account: Imports
75,458
78,027
68,734
63,584
65,079
52,419
Current account: Services
-10,040
-9,771
-7,359
-6,820
-6,985
-4,472
Current account: Income
79
93
1,649
2,034
943
763
Current account: transfers
185
406
509
565
511
547
Capital and financial account
-24,296
40,741
-22,161
-22,510
-8,002
-4,746
Errors and omissions
-3,259
-17,766
-1,201
-2,595
-5,635
-4,270
Source: CEIC, Central Bank of Iran
Iran’s current account surplus climbs in 2016
Iran reported a current account surplus of $9,016mn in 2016, down 43% y/y. The World Bank in its recent report of the Middle East and North Africa region (MENA) reported that Iran’s current account surplus rose to 6.5% of GDP in 2016 from 2.7% in 2015. Exports fell 25% to $64,597mn and imports dropped 19% to $52,419mn.
The World Bank projected the current account surplus to remain at 6.5% in 2017, while it will drop to 5.5% and 4.6% in 2018 and 2019, respectively.
17 IRAN Country Report November 2017 www.intellinews.com