News in Brief
Iran’s economy to grow 3.2%
in 2024:
World Bank
The World Bank (WB) has predicted in its latest report that Iran’s economy will grow by 3.2 percent in 2024 as the inflation rate will undergo a 35-percent decrease.
As estimated by the international financial institution, Iran’s economy experienced a 5-percent growth and a 40.8-percent inflation in 2023. The bank has forecast that the industrial sector in Iran will take the lead in 2024, experiencing a 4.9-percent growth, followed by the services and agricultural sectors with a 2.7 and 0.9 percent increase.
In addition, the World Bank has announced that Iran’s export of goods and services will exceed 7.1 percent in 2024 compared to the previous year.
Also, the bank predicted that the import of products into the country will undergo a 1.8-percent rise in 2024 in comparison with a year earlier. The balance of Iran’s current accounts will also experience a positive growth and reach 2.7 percent of the gross domestic product (GDP) in 2024.
US non-oil exports to
Iran up 51%
The exports of non-oil products from the United States to Iran in the first four months of 2024 registered a 51-percent growth compared to the same period last year, according to a report by the US Bureau of Statistics, cited by IRNA.
The statistics put the total value of the trade exchanges between Iran and the United States from January to April 2024 at more than $30 million.
Also, the trade exchanges between Iran and United States from January to April 2024 reached $30.6 million, showing a 72-percent growth compared to the last year’s corresponding period.
Iran and the United States had exchanged over $17.8 million worth of products from January to April 2023.
According to the report, the United States exported $26.5 million worth of products to Iran from January to April 2024, indicating a 51-percent growth in comparison with the same period last year. The US Bureau of Statistics said the United States exported over $17.5 million worth of goods to Iran from January to April 2023.