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Iran - Country Profile

Iran's economy is marked by a bloated, inefficient state sector, over reliance on the oil sector, and statist policies that create major distortions throughout. Most economic activity is controlled by the state. Private sector activity is typically small-scale - workshops, farming, and services. President KHATAMI has continued to follow the market reform plans of former President RAFSANJANI, with limited progress. Relatively high oil prices in recent years have enabled Iran to amass some $30 billion in foreign exchange reserves, but have not eased economic hardships such as high unemployment and inflation. The proportion of the economy devoted to the development of weapons of mass destruction remains a contentious issue with leading Western nations.


Economic Statistics
Exports : $38.79 billion f.o.b. (2004 est.)
Export
Commodities :
petroleum 80%, chemical and petrochemical products, fruits and nuts, carpets
Export
Partner
Japan 18.4%, China 9.7%, Italy 6%, South Africa 5.8%, South Korea 5.4%, Taiwan 4.6%, Turkey 4.4%, Netherlands 4% (2004)
Imports $31.3 billion f.o.b. (2004 est.)
Import
Commodities :
industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services, military supplies
Imports
Partners :
Germany 12.8%, France 8.3%, Italy 7.7%, China 7.2%, UAE 7.2%, South Korea 6.1%, Russia 5.4% (2004)