Iran Economy GDP is expected to decline this year

The economy of Iran is a mixed and transition economy with a large public sector. About 60% of Iran's economy is centrally planned. The economy is focused on oil and gas production. However, more than 40 industries are directly involved in the Tehran Stock Exchange. This was one of the best performing exchanges in the world over the past decade. Iran has 10% of the world's proven oil reserves and 15% of its gas reserves. Iran is certainly an energy superpower. Most of the country's exports are oil and gas. This accounted for a majority of government revenue in 2010. In 2012, oil exports contributed to about 80% of Iranian public revenue. Oil export revenues enabled Iran to amass well over $135 billion in foreign exchange reserves as of December 2016. Iran has one of the fastest rates of development in telecommunication globally.

Both the World Bank and the International Monetary Fund estimate Iran's gross domestic product is expected to decline by about 9% this year.