Iranian SCI announces economic growth of 4.2% for the July-September quarter



Iran’s statistics agency says GDP grew 4.2 percent in the quarter to the end of September.

Iran’s Statistical Center (SCI) updated its quarterly figures on the country’s main economic indicators, indicating that the Iranian economy grew 4.2% in the quarter leading up to September 22.

SCI figures covered in a report released by the official IRNA news agency on Saturday showed that Iran’s non-oil gross domestic product (GDP) reached more than 1.623 billion rials in the September quarter, up 3.3% compared to the end of June quarter.

The SCI takes into account the fixed prices declared in 2011 for its calculation of economic growth. That means Iran’s oil-less GDP was equal to nearly $ 135.2 billion in the quarter through September, taking into account currency prices reported about nine years ago.

The figures showed that the annual consumer price index rose 45.8% in September, up 338.7% from inflation figures released in 2016.

Iran has experienced high but controlled levels of inflation over the past three years as the country struggled under economic pressures from US sanctions and the spread of the coronavirus pandemic.

It comes as the sanctions triggered growth in activity in the non-oil sector of Iran’s economy, with the government reporting increased jobs and better levels of production in the manufacturing and agricultural sectors.

Figures from SCI showed Iran’s unemployment rate rose 0.8% from the previous quarter to 9.6% at the end of September.

They showed that the money supply reached a total of 40,676 billion rials (nearly $ 137 billion) in the September quarter, an increase of 17% from figures released at the end of the year. at the end of March.

Trade indicators studied by the SCI showed that Iran imported more than $ 12.8 billion worth of goods in the three months to the end of September, up 37.6% from the similar quarter of l ‘last year.

Non-oil exports rose 52.1 percent year-on-year to a total value of $ 10.98 billion in the July-September quarter, according to the figures.



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