Gross Domestic Product for Islamic Republic of Iran
MKTGDPIRA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
436,906,331,671.86
Year-over-Year Change
-32.16%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for the Islamic Republic of Iran measures the total value of all goods and services produced within the country. It is a key indicator of economic activity and growth used by policymakers and analysts.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
GDP is the broadest measure of a country's economic output and performance. It represents the market value of all final goods and services produced within Iran's borders over a specific time period, typically a quarter or a year. This metric is widely used to assess the overall health and trajectory of the Iranian economy.
Methodology
The Iranian GDP data is collected and calculated by the World Bank using national accounts information and statistical methods.
Historical Context
GDP is a central metric for evaluating the state of the Iranian economy and informing policymaking decisions.
Key Facts
- Iran's GDP was $591 billion in 2021.
- GDP per capita in Iran was $7,052 in 2021.
- The Iranian economy contracted by 6.8% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for the Islamic Republic of Iran measures the total value of all goods and services produced within the country during a specific time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country's economic performance and is widely used by policymakers, investors, and analysts to assess the overall health and trajectory of the Iranian economy.
Q: How is this data collected or calculated?
A: The Iranian GDP data is collected and calculated by the World Bank using national accounts information and statistical methods.
Q: How is this trend used in economic policy?
A: GDP is a central metric for evaluating the state of the Iranian economy and informing policymaking decisions, such as fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The GDP data for Iran is typically published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Islamic Republic of Iran (MKTGDPIRA646NWDB), retrieved from FRED.