TEHRAN– Iran’s gross domestic product (GDP) grew by 4.4% in the last Iranian calendar year 1400 (which ended on March 20), the Central Bank of Iran (CBI) said. ).

According to the CBI, the figure was 3.9% excluding oil.

Iran’s Statistical Center (SCI) previously estimated the country’s GDP growth at 4.3% including oil and 3.5% non-oil in the previous year.

As reported by the center, based on fixed prices in the Iranian year 1390 (ending March 19, 2012), the country’s GDP was 7.569 quadrillion rials (about $27.725 billion), including the sector oil, and 6.511 quadrillion rials (approximately $23.849 billion) outside the oil sector over the past year, when the figures were 7.254 quadrillion rials (approximately $26.571 billion) and 6.289 quadrillion rials (approximately 23.036 billion), respectively, in 1399.

The SCI reported that the agricultural sector saw negative growth of 3.7%, while the industries and mining sector increased by 6% and the growth of the services sector stood at 4.5%. the previous year.

According to the World Bank’s Global Economic Prospects (GEP) report released on June 7, Iran’s economy is expected to grow by 3.7% in 2022, while average global economic growth is estimated at 2.9% this year. -the.

“Production in the Islamic Republic of Iran is expected to increase by 3.7% in 2022, boosted by the decline of the pandemic and rising oil prices,” the bank said in the report.

Last April, in a report on Iran’s economy, the bank revised up its forecast for Iran’s gross domestic product (GDP) growth in 2022, expecting the country’s economy to grow by 3, 7% this year.

The entity had previously estimated the Islamic Republic’s GDP growth at 2.4% for 2022, in the GEP report released in January.

“The Iranian economy continues its gradual recovery that began in mid-2020, driven by the oil sector and services. However, water and energy shortages have led to a contraction of the agricultural and industrial sectors,” the recent report states.

A recovery in Iran’s oil and services sectors (growth of 11.7 and 6.5%, respectively) – following a return to global and domestic activity after the onset of the pandemic – led to annual growth of 5 % end of 2021-beginning of 2022, the bank says.

MOM