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Iran is a mixed economy with a large public sector. Some 60% of Iran's economy is centrally planned.. Iran's economy is characterized by its hydrocarbon, agricultural, and service sectors, in addition to manufacturing and financial services, with over 40 industries are directly involved in the Tehran Stock Exchange. The stock exchange has been one of the best performing exchanges in the world over the past decade. With 10% of the world's proven oil reserves and 15% of its gas reserves, Iran is considered an "energy superpower".
The National Iranian Oil Company is a government-owned national oil and natural gas producer and distributor under the direction of the Ministry of Petroleum of Iran. NIOC was established in 1948 and restructured under The Consortium Agreement of 1954. NIOC ranks as the world's second largest oil company, after Saudi Arabia's state-owned Aramco.
Asaluyeh is a city in the Central District of Asaluyeh County, Bushehr province, Iran, and serves as capital of the county. Alternate spellings include: Assalouyeh, Asalouyeh, Asaloyeh, Asalooyeh, Asaluye, Assaluyeh, and Asalu. UNCTAD codes: IR YEH, IR PGU, and IR ASA.
The Tehran Stock Exchange (TSE) is Iran's largest stock exchange, which first opened in 1967. The TSE is based in Tehran. As of May 2023, 666 companies with a combined market capitalization of US$1.45 trillion were listed on TSE. TSE, which is a founding member of the Federation of Euro-Asian Stock Exchanges, has been one of the world's best performing stock exchanges in the years 2002 through 2013. TSE is an emerging or "frontier" market.
The Industrial Development & Renovation Organization of Iran (IDRO) known as IDRO Group was established in 1967 in Iran. IDRO Group is one of the largest companies in Iran. It is also one of the largest conglomerates in Asia. IDRO's objective is to develop Iran's industry sector and to accelerate the industrialization process of the country and to export Iranian products worldwide. Today, IDRO owns 117 subsidiaries and affiliated companies both domestically as well as internationally.
The economy of the Middle East is very diverse, with national economies ranging from hydrocarbon-exporting rentiers to centralized socialist economies and free-market economies. The region is best known for oil production and export, which significantly impacts the entire region through the wealth it generates and through labor utilization. In recent years, many of the countries in the region have undertaken efforts to diversify their economies.
The National Petrochemical Company (NPC), a subsidiary to the Iranian Petroleum Ministry, is owned by the government of the Islamic Republic of Iran. It is responsible for the development and operation of the country's petrochemical sector. Founded in 1964, NPC began its activities by operating a small fertilizer plant in Shiraz.
Roughly one-third of Iran's total surface area is suited for farmland, but because of poor soil and lack of adequate water distribution in many areas, most of it is not under cultivation. Only 12% of the total land area is under cultivation but less than one-third of the cultivated area is irrigated; the rest is devoted to dryland farming. Some 92 percent of agricultural products depend on water. The western and northwestern portions of the country have the most fertile soils. Iran's food security index stands at around 96 percent.
The energy system of Iran relies primarily on fossil fuels. However, the country has made steps to decrease its dependency on fossil fuels by investing in wind power. In 2004 Iran generated only 25 megawatts from wind power, 32 megawatts in 2005, and 45 megawatts in 2006. By 2009, total wind power capacity reached 130 megawatts. This was a result of the production of larger wind farms in more coastal and windy areas of Iran, such as Manjeel and Binaloud. In 2021, Iran's total capacity of onshore wind power grew by 0.6%.
According to the Fourth Five-Year Economic Development Plan (2005–2010), the Privatization Organization of Iran affiliated with the Ministry of Economic Affairs and Finance is in charge of setting prices and ceding shares to the general public and on the Tehran Stock Exchange. The privatization effort is primarily backed by reformist members of the Iranian government and society who hope that privatization can bring about economic and social change.
Iran has the Third largest oil reserves and the 2nd largest natural gas reserves in the world. The nation is a member of OPEC, and generates approximately 50% of state revenue through oil exports.
Iran LNG, also known as NIOC LNG, is a LNG plant under development at Tombak Port, approximately 50 kilometres (31 mi) north of Assaluyeh Port and 15 kilometres (9.3 mi) southeast of Kangan, Iran.
Prior to 1979, Iran's economic development was rapid. Traditionally an agrarian society, by the 1970s the country had undergone significant industrialization and economic modernization. This pace of growth had slowed dramatically by 1978 as capital flight reached $30 to $40 billion 1980 US dollars just before the revolution.
The Ministry of Commerce of Iran was the main organ of the Government in charge of the regulation and implementation of policies applicable to domestic and foreign trade. This includes:
According to a report by The Economist, Iran has been ranked 39th for producing $23 billion of industrial products in 2008. From 2008 to 2009 Iran has leaped to 28th place from 69th place in annual industrial production growth rate.
Iran is an energy superpower and the petroleum industry in Iran plays an important part in it. In 2004, Iran produced 5.1 percent of the world's total crude oil, which generated revenues of US$25 billion to US$30 billion and was the country's primary source of foreign currency. At 2006 levels of production, oil proceeds represented about 18.7% of gross domestic product (GDP). However, the importance of the hydrocarbon sector to Iran's economy has been far greater. The oil and gas industry has been the engine of economic growth, directly affecting public development projects, the government's annual budget, and most foreign exchange sources.
Sadid is a village in Naharjan Rural District, Mud District, Sarbisheh County, South Khorasan Province, Iran. At the 2006 census, its population was 47, in 11 families.
The Shahed 129 is an Iranian single-engine medium-altitude long-endurance unmanned combat aerial vehicle (UCAV) designed by Shahed Aviation Industries for the Islamic Revolutionary Guard Corps (IRGC). The Shahed 129 is capable of combat and reconnaissance missions and has an endurance of 24 hours; it is similar in size, shape and role to the American MQ-1 Predator and is widely considered as one of the most capable drones in Iranian service.
The Sadid-1 is an Iranian TV-guided anti-tank missile derived from Iran's Toophan missiles.
References
- ↑ "Iran Daily - Domestic Economy - 12/03/08". Archived from the original on 2008-12-07. Retrieved 2008-12-03.
- ↑ "New Page 3". www.sadid.ir. Archived from the original on 2006-05-15.