bands of green (top), white, and red; the national
emblem (a stylized representation of the word Allah) in red is centered in
the white band; Allah Alkbar (God is Great) in white Arabic script is
repeated 11 times along the bottom edge of the green band and 11 times along
the top edge of the red band

*Iran, Economy

Overview:
Iran's economy is a mixture of central planning, state ownership of oil and
other large enterprises, village agriculture, and small-scale private
trading and service ventures. After a decade of economic decline, Iran's
real GDP grew by 10% in FY90 and 6% in FY91, according to Iranian Government
statistics. An oil windfall in 1990 combined with a substantial increase in
imports contributed to Iran's recent economic growth. Iran has also begun
implementing a number of economic reforms to reduce government intervention
(including subsidies) and has allocated substantial resources to development
projects in the hope of stimulating the economy. Lower oil revenues in 1991
- oil accounts for more than 90% of export revenues - together with a surge
in imports greatly weakened Iran's international financial position. By
mid-1992 Iran was unable to meet its obligations to foreign creditors.
Subsequently the government has tried to boost oil exports, curb imports
(especially of consumer goods), and renegotiate terms of its foreign debts.
National product:
GNP - exchange rate conversion - $90 billion (FY92)
National product real growth rate:
6% (FY91)
National product per capita:
$1,500 (FY91)
Inflation rate (consumer prices):
23.7% (September 1991-September 1992)
Unemployment rate:
30% (1991 est.)
Budget:
revenues $63 billion; expenditures $80 billion, including capital
expenditures of $23 billion (FY90 est.)
Exports:
$17.2 billion (f.o.b., FY91 est.)
commodities:
petroleum 90%, carpets, fruits, nuts, hides
partners:
Japan, Italy, France, Netherlands, Belgium/Luxembourg, Spain, and Germany
Imports:
$21.0 billion (c.i.f., FY91 est.)
commodities:
machinery, military supplies, metal works, foodstuffs, pharmaceuticals,
technical services, refined oil products
partners:
Germany, Japan, Italy, UK, France
External debt:
$17 billion (FY91 est.)
Industrial production:
growth rate 12% (1990 est.); accounts for almost 30% of GDP, including
petroleum
Electricity: 15,649,000 kW capacity; 43,600 million kWh produced, 710 kWh per c