• 19 June 2017 - 12:11
  • News Code: 71270
بانک مرکزی

The Central Bank of Iran's latest report on Sunday indicated that Iran’s Gross domestic product (GDP) grew ۱۲.۵% in March ۲۰۱۶-۱۷ compared to the last year.

The strong GDP growth is mainly attributed to oil production increase following the removal of international sanctions against Iran after the JCPOA agreement with the world powers in July ۲۰۱۵.

Study on the contribution of industrial activities to the GDP growth indicates that added value activities such as oil, industry, commercial, hotel and restaurant, transport, storage and communications played major roles in increasing the GDP.

The CBI report indicated that production in the agriculture sector expanded by ۴.۲%.

The industry sector also expanded ۶.۹% last year compared to the -۴.۶% contraction that was registered a year before.

Economic growth showed improvement even without oil sale, such a way that it grow to ۳.۳ last year compared to -۳.۱ the year before that.

Exports and imports of goods and services grew ۴۱.۳% and ۶.۱% respectively.

Government and private consumption recorded a ۳.۸% and ۳.۷% growth respectively.

Gross fixed capital formation contracted by ۳.۷%.

Construction was the only sector that contracted last year and registered a -۱۳.۱% growth.

The CBI report comes after the Statistical Center of Iran put last year’s growth at ۸.۳% in a report released late May. According to the SCI, without taking the oil sector into consideration, the economy expanded by ۶.۳%

The SCI report indicated that the agriculture sector grew by ۵%, the industry group, including mines, manufacturing, energy and construction, expanded by ۱۱.۳% and the services sector registered a ۷.۱% growth.

CBI and SCI both publish periodic statistics on Iran’s economy, but the two bodies’ data often differ, as they use different base years to calculate their data.

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