WANA (Sep 13) – The U.S. Central Intelligence Agency (CIA) has placed Iran’s economy 23rd among more than 200 countries in its latest economic assessment for 2024.
The CIA’s economic unit reviewed key macroeconomic indicators across 221 countries. According to the ranking, Iran outperformed countries such as Singapore, Pakistan, Sweden, Switzerland, Qatar, Oman, Malaysia, the Netherlands, Iraq, Norway, Azerbaijan, South Africa, Belgium, the UAE, and Greece.
China Tops Global GDP
The CIA report noted that China remained the world’s largest economy in 2024 with a gross domestic product (GDP) of $33.5 trillion, followed by the United States at $25.6 trillion and India at $14.2 trillion.
Iran’s Economic Indicators
Iran’s GDP in 2024 was estimated at $1.486 trillion—an increase of $44 billion compared to 2023. Per capita GDP rose by $300, from $15,900 in 2023 to $16,200 in 2024.
However, Iran’s economic growth slowed, falling from 5% in 2023 to 3% in 2024. Inflation was projected to decline from 44.6% in 2023 to 32.5% in 2024, though unemployment edged slightly higher, from 9.1% to 9.2%.
Iran’s labor force stood at 28.57 million. The services sector accounted for the largest share of the economy at 47.9%, followed by industry at 36.4% and agriculture at 13%.
Trade Trends
The CIA estimated that Iran’s imports grew by $4 billion in 2024, compared to a $2 billion increase in exports.
In 2023, Iran’s top export partners were China (35%), Turkey (16%), India (8%), Pakistan (7%), and Armenia (5%). On the import side, the leading partners were China (34%), the UAE (20%), Turkey (11%), Brazil (8%), and Germany (4%).
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