Iran economy grew by 3% in year to late March: SCI

The Iranian economy expanded by 3% in the calendar year to March 20, according to figures released by the Statistical Center of Iran (SCI).

News ID: ۲۰۰۱۳۷۶

01 June 2025

The Statistical Center of Iran (SCI) said in a report published late on Saturday that Iran’s gross domestic product (GDP) had reached 100,260 trillion rials (over $125 billion on free market prices) in the calendar year 1403, up from 97,301 trillion rials reported in the year to March 2024, according to Press TV.

The SCI considers fixed prices reported in 2021 as a baseline for its calculation of GDP.

It said that Iran’s GDP without oil had also expanded by 2.1% to reach 76,140 trillion rials.

The manufacturing and mining sector, which includes the oil industry, was the best performer of the Iranian economy in the calendar year to late March with a GDP growth of 3.4% as Iran’s petroleum sector expanded by 6.2% over the period, the figures showed.

The figures showed that Iran’s agriculture and services sectors had grown by 3.2% and 2.5%, respectively, in the year to late March.

Tables published by the SCI on its website showed that growth in the Iranian oil and gas sector had slowed down by 1.9% from the year to March 2024.

Oil accounted for 24.7% of Iran’s economy in the calendar year to March 2025 as the GDP of the sector reached a total of 24,119 trillion rials over the period, the tables showed.

The GDP of the Iranian services sector reached 38,746 trillion rials, accounting for more than 40% of the Iranian economy.

SCI figures on economic growth are normally lower than rates reported by the Central Bank of Iran (CBI).

CBI had reported economic growth rates of around 3.7% for the three quarters to late December 2024.

Iranian economy has been growing in the past four years despite the inflationary pressures caused by foreign sanctions and issues with the global supply and demand chains./ Mehr