Iran’s Economy structure: GDP, share of main sectors

Iran’s Economy structure: GDP, share of main sectors

Iran’s GDP and main economic sectors.

Iran’s GDP for 2019 is estimated at US$440 billion, for a population of 83 million. We know Iran’s economy by its petroleum, agricultural, and service sectors, as well as a noticeable industry and financial services. Iran got second rank in natural gas reserves and fourth in proven crude oil reserves. While its economic base is diversified for Iran (which is an oil exporting country), government revenues still rely on oil revenues.

Iran's main economic sectors

Share of each sector in GDP:

Iran’s GDP, share of each sector, excluding Oil and Gas sector

agriculture: 9.6%
industry: 35.3%
services: 55%

The distribution gives the percentage contribution of agriculture, industry, and services to total GDP, and will total 100 percent of GDP (Oil and Gas sector is excluded).

Agriculture includes: farming, fishing, and forestry.

Industry includes: mining, manufacturing, energy production, and construction.

Services includes: government activities, communications, transportation, finance, and private economic activities.

Oil and Gas sector in Iran’s economy

Iran holds 157 billion barrels of proven crude oil. The country’s official production capacity is around 4 million barrels per day (mbpd). According to OPEC’s secondary sources, Iran’s actual production stood less than 1 mbpd due to sanctions (at 2020). Which left Iran’s government with lot’s of pressure.

With 33.6 trillion cubic meters of proven natural gas reserves Iran now sits upon the
second largest gas reserves in the world. Current gas production stands at 550 million cubic meters per day (mcm/d) and is projected to grow extensively by 2016 as new phases of the giant South Pars gas field come on stream. Incidentally, the new petroleum minister
of Iran, Bijan Namdar Zanganeh, has stated that he will dedicate most of his attention
to gas sector developments.