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Iran (Islamic Republic of)

Capital City: Teheran
%T:%M %A in Teheran
Iran's growth has been steady for several years: GDP growth rate was 6.6% in 2003, 6.5% in 2004 and 5.7% in 2005. Iran is experiencing a favourable economic and financial situation, thanks to high oil prices. The state is the dominant economic power of the country. In order to loose its dependence on oil sector, the government tries to open up the economy's key sectors to foreign investors, but the reforms process is slow and foreign investments currently remain limited. Employment and social climate are still worrying : the unofficial unemployment rate is estimated between 15% and 20% and young people are particularly suffering from it. The country's political stability could be questioned in the future, because of the Iranian nuclear programme and of the compliance with its obligations concerning the Non-proliferation Treaty (NPT).

The agriculture sector adds up to 11% of the GDP. The main crops are pistachios (world leading producer), oranges, tea, cereals and cotton. Iran is one of the largest wheat buyers in the world. The country benefits from exceptional ore resources: copper (5% of the world's reserves), oil (4th largest world producer) and gas (2nd largest world producer) constitute the country's most important resources. Almost half of the State's revenues is generated by the oil sector. Manufacturing industry essentially relies on carpets, jewellery, textile and heavy industry sectors.

Its three largest export countries are the United Arab Emirates, Iraq and Japan.
Iran's three largest import countries are Germany, France and Italy. 80% of export earnings come from oil. Iran mainly imports machinery, metal and steel, cereals and equipment goods. Petrochemical, building and services industries are particularly dynamic sectors.

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