latest five-year plan. A
combination of price controls and subsidies, particularly on food
and energy, continue to weigh down the economy, and administrative
controls, widespread corruption, and other rigidities undermine the
potential for private-sector-led growth. As a result of these
inefficiencies, significant informal market activity flourishes and
shortages are common. High oil prices in recent years have enabled
Iran to amass nearly $70 billion in foreign exchange reserves. Yet
this increased revenue has not eased economic hardships, which
include double-digit unemployment and inflation - inflation climbed
to 26% as of June 2008. The economy has seen only moderate growth.
Iran's educated population, economic inefficiency and insufficient
investment - both foreign and domestic - have prompted an increasing
number of Iranians to seek employment overseas, resulting in
significant "brain drain."

GDP (purchasing power parity):

$762.9 billion (2007 est.)

GDP (official exchange rate):

$294.1 billion (2007 est.)

GDP - real growth rate:

6.2% (2007 est.)

GDP - per capita (PPP):

$11,700 (2007 est.)

GDP - composition by sector:

agriculture: 10.7%
industry: 42.9%
services: 46.5% (2007 est.)

Labor force:

28.7 million
note: shortage of skilled labor (2006 est.)

Labor force - by occupation:

agriculture: 25%
industry: 31%
services: 45% (June 2007)

Unemployment rate:

12% according to the Iranian government (2007 est.)

Population below poverty line:

18% (2007 est.)

Household income or consumption by percentage share:

lowest 10%: 2%
highest 10%: 33.7% (1998)

Distribution of family income - Gini index:

44.5 (2006)

Investment (gross fixed):

27.6% of GDP (2007 est.)

Budget:

revenues: $104 billion
expenditures: $101 billion (2008 est.)

Fiscal year:

21 March - 20 March

Public debt:

17.2% of GDP (2007 est.)

Inflation rate (consumer prices):

17.1% (2007 est.)

Commercial bank prime lending rate:

12% (31 December 2007)

Stock of money:

$46.13 billion (31 December 2007)

Stock of quasi money:

$68.71 billion (31 December 2007)

Stock of domestic credit:

$109.7 billion (31 December 2007)

Agriculture - products:

wheat, rice, other grains, sugar beets, sugar cane, fruits, nuts,
cotton; dairy products, wool; caviar

Industries:

petroleum, petrochemicals, fertilizers, caustic soda, textiles,