Iran, the Untapped Market
Iran is the 17th largest country in the world in terms of area at 1,648 (1000 sq. km).
It is a country of particular Geo-strategic significance owing to its location in the Middle East and central Eurasia.
Iran is the homeland to more than 80 million people, the second largest population in the MENA region after Egypt.
1/3rd of this population is between 15 to 30 years old and the growth rate is 1.14 (2017).
Economy
Iran’s economy can be named “The Last Untapped Emerging Economy” with numerous investment opportunities as it is the second largest economy in the Middle East and North Africa (MENA) after Saudi Arabia, with an estimated GDP of 438.3 billion USD in 2017.
However, Iran has experienced severe sanctions and these sanctions have weakened Iran’s economy at least twenty percent.
Before sanctions (2007-2008), Iran’s GDP growth rate was 7.8 percent.
Iran is currently welcoming foreign investors and has set many rules and regulations to support foreign investments by the help of Organization for Investment Economic and Technical Assistance of Iran (OIETAI).
Iran is a founding member of the GECF, IEF and OPEC; and a member of ECO, IMF, NAM, OIC and the UN.
Annual Income
Iran is placed in the second level (Upper middle = $4,126 – $12,745) of Gross national income (GNI) ranking according to World Bank estimates of 2013 GNI per capita. Iran GNI PPP (Purchasing Power Parity) is 21,010 USD per capita (2017)
Natural Resources
Iran ranks as the 2nd in the world in natural gas reserves and 4th in proven crude oil reserves.
Almost the most important industry of Iran is its “Petroleum Industry” and “Fossil-Fuel-Resources”.
The main oil and gas fields of Iran are located in South Western region of the country.
Iran has very important mining fields, differing from precious stones to coal and cement, Turquoise stone, Gold, Cement, Lead, Coal, Zinc.
As of 2010, Iran’s crude oil and natural gas liquids production ranked fourth in the world.
It is said to have 15.8% of the world’s proven natural gas reserves and 9.9% of world’s proven oil reserves.
Production statistics of mineral commodities in 2015 are provided below:
- Gypsum and pumice – 9% of the world’s total production
- Feldspar – 5.3%
- Barite – 4%
- Sulfur – 3%
- Molybdenum – 2%
- Nitrogen – 2%
- Cement, iron ore, and silica sand – more than 1%
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