• GDP: US$193.5 billion (2006).
• 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.
• Main trade partners: Germany, Japan, China, Turkey and United Arab Emirates.

Iran's main sources of income are its huge oil and gas deposits, which are among the world's largest. It also has viable deposits of coal, magnesium ores and gypsum.

The agricultural sector is important, although output has been depressed by drought and migration of rural labour to the cities. Government policy has promoted 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. Annual growth is about 4.3% (2006) with unemployment at 15% (2007). The rate of inflation in 2006 was estimated at 12%.

Economic policy is dominated by the fundamental difference of approach between the elected government and the ruling clergy. 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.

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).

Trade Promotion Organisation of Iran
PO Box 1148, Tadjrish, Tehran, Iran
Tel: (21) 21919.
Website: www.iranexporters.org

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