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. Iran ranks second in the world for natural gas reserves and fourth for proven crude oil reserves. While relatively diversified for an oil exporting country, economic activity and government revenues still rely on oil revenues and have, therefore, been volatile. With a population of over 80 million, Iran has a substantial domestic market and a well-educated workforce.
Following several years of growth, Iran’s economy is facing mounting pressures from structural challenges, the repercussions of the conflict in the Middle East, intensified sanctions and growing water and energy shortages that disrupt economic activity.
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