Oil, gas and petrochemicals Iran's oil and gas industry is the most active industry of the country. Iran has the fourth largest reserves of oil and second largest reserves of gas in the world.
Iran's economy is characterized by its hydrocarbon, agricultural, and service sectors, as well as a noticeable state presence in the manufacturing and financial services.
Sweets, nuts, and spices
Besides, Iran is considered to be the center of pistachio production in the world and is the best place for foreign tourists to buy it as a souvenir. Saffron is another famous souvenir of Iran, known as red gold and is widely used in Iranian foods and pastries.
Iran is a mixed economy with a large state-owned sector. It is the world's 21st largest by purchasing power parity (PPP). Some 60% of Iran's economy is centrally planned. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange.
Oil and natural gas are Iran's most important exports, accounting for 82 percent of the country's export revenues. Other exports include chemicals, plastics, fruits, ceramic products and metals. Iran's main exports partners are: China (36 percent of total exports), Iraq (25 percent) and Turkey (18 percent).
Iran main imports are: non-electrical machinery (17 percent of total imports), iron and steel (14 percent), chemicals and related products (11 percent), transport vehicles (9 percent) and electrical machinery, tools and appliances (7 percent).
Yearly Trade
The most recent exports are led by Ethylene Polymers ($3.2B), Other Nuts ($925M), Semi-Finished Iron ($816M), Refined Copper ($673M), and Acyclic Alcohols ($561M). The most common destination for the exports of Iran are China ($5.94B), Turkey ($2.72B), Pakistan ($614M), Armenia ($406M), and India ($379M).
Iran has a long history of scholarship that has created a rich culture of art, literature, poetry, music, cuisine, and architecture. Ancient Iranian thinkers wrote influential texts on philosophy and medicine, and it was an Iranian mathematician who invented algebra.
Iran is the fifth richest country in the world in terms of natural resources such as oil, gas, coal, war and wood, gold, silver, copper, uranium, crude iron and phosphate, With one percent of the world's population, it has more than 7 percent of the world's mineral resources.
Iran is an Islamic country in which Shia, also known as Shiite Muslims make up the majority. Iran has one of the biggest gas reserves in the world. Iran has 24 UNESCO World Heritage Sites. Iran is considered the only home to the critically endangered Asiatic Cheetah.
It is a founding member of the United Nations, the ECO, the OIC, and the OPEC. It has large reserves of fossil fuels—including the second largest natural gas supply and the third-largest proven oil reserves. The country's rich cultural legacy is reflected in part by its 26 UNESCO World Heritage Sites.
Iran is known for its rich historical artifacts and sites, Persian literature and craftsmanship, large oil reserves, and distinctive cuisine with signature spices. Iran is a part of Western Asia. It was formerly known as Persia, before 1935, when the ruler at the time declared the change.
Apart from petroleum, the country's other natural resources include natural gas, coal, chromium, copper, iron ore, lead, manganese, zinc and sulphur. The national currency is the rial. The Islamic Republic of Iran's President is HE Ebrahim Raisi. The country is a Founder Member of OPEC.
C hina has remained Iran's largest trading partner for 10 consecutive years as of 2022, according to the Chinese Ministry of Commerce.
Iran has a GDP per capita of $12,400 as of 2020, while in Australia, the GDP per capita is $48,700 as of 2020.
Australia is considered a wealthy nation with a market-based economy that has a comparatively high gross domestic product and per capita income. Its economy is driven by the service sector and the export of commodities. [Explore the top universities in Australia.]
Politeness and etiquette are demonstrated on a daily basis in Iran. It is often exhibited through the traditional verbal and nonverbal system of politeness – 'taarof'. Under taarof, Iranians strive to make the other person in the interaction feel as appreciated and welcomed as possible.
The extraction and processing of petroleum is unquestionably Iran's single most important economic activity and the most valuable in terms of revenue, although natural gas production is increasingly important.
The northern seaside lands of the Caspian Sea, and the country supplies finest conditions for citrus production. Iran ranks 1st in the world in the production of pomegranates, 2nd in dates, 3rd in figs, 3rd in cherries, 7th in grapes, and 7th in oranges.
The National Iranian Oil Company (NIOC; Persian: شرکت ملّی نفت ایران, romanized: Sherkat-e Melli-ye Naft-e Īrān) is a government-owned national oil and natural gas producer and distributor under the direction of the Ministry of Petroleum of Iran.
Following the coup, the United States financed the re-installed Shah. In the first three weeks, Washington gave Iran $68 million in emergency aid, and an additional $1.2 billion over the next decade. In this era that ensued, until the fall of the Shah in 1979, Iran was one of the United States' closest allies.