• GDP: US$181.2 billion (2005).
• Main exports: Petroleum, chemical and petrochemical products, carpets, fruits and nuts.
• Main imports: Industrial raw materials and intermediate goods, capital goods, food and other consumer goods, technical services and military supplies.
• Main trade partners: Germany, Japan, France, Italy, United Arab Emirates, China (PR) and UK.

Iran’s main sources of income are its huge oil and gas deposits, which are among the world’s largest. The agricultural sector is important for the numbers employed, although output has been depressed by drought and migration of rural labour to the cities. Both subsistence crops, mainly wheat, barley and sugar, and cash crops are grown.

The manufacturing sector, which accounts for about one-sixth of total output, produces textiles, food-processing and transport equipment. Apart from hydrocarbons, Iran also has viable deposits of coal, magnesium ores and gypsum.

Government policy has sought to promote the agricultural and light industry in order to reduce the economy’s dependence on oil and increase the influence of the private sector – about 80% of economic activity is state controlled. The economy is performing fairly steadily at present: annual growth is about 6% (2005).

As in other areas, economic policy is dominated by fundamental difference of approach between the elected government and the ruling clergy. On the trade front, Iran has developed important new links with the newly independent states of central Asia as well as Turkey and China but, more importantly, existing trade with traditional partners in Europe, Japan and the Middle East have been restored. Bilateral trade with the USA remains, not surprisingly, at a low level.

Most Iranian businesspeople speak English and are polite and conservative in manner and expect an appropriate response from visitors. Exchanging business cards is normally restricted to senior people. Appointments should be made and punctuality is expected for business meetings. Business gifts are quite acceptable.

Office hours: Sat-Wed 0800-1600, Thurs 0900-1200 (some offices may close all day).

Export Promotion Centre
PO Box 1148, Tadjrish, Dr Chamran Highway, Tehran, Iran
Tel: (21) 21911.
Website: www.iran-export.com

Iranian Trade Association in the USA
PO Box 927743, San Diego, CA 92192, USA
Tel: (619) 368 6790.
Website: www.iraniantrade.org