The International Monetary Fund in its report "Regional Economic Outlook: Middle East and Central Asia" has reviewed Iran's 8 macro-economic indexes including economic growth, GDP, oil output, inflation, foreign exchange reserves, liquidity, exports and imports, and current accounts balance.
Iran's Oil and Non-oil Economic Growth
Based on the report the average economic growth of 40 countries in the Middle East and Central Asia will reach 3.9 percent in 2011. Iran's economic growth will stand at 2.5 percent in the same year, the report read. Iran's non-oil sector will experience a growth of 2.6 percent in 2011. While the index in 2010 stood at 3.6 percent. The growth of Iran's oil sector will also increase to 1.5 percent from -3.7 percent in 2009 and 0 percent in 2010. Based on the report, Iran's economic growth in 2012 will increase to 3.4 percent.
Iran's GDP to Increase $68 bln
According to IMF's report, Iran's gross domestic product in 2010 surged $407 billion and the index is predicted to surge $475 billion in 2011 showing $68 billion growth over the last year.
The region's total GDP will increase from $2,580 trillion in 2010 to 42.970 trillion in 2011. Iran's GDP in 2012 is predicted to increase to $494 billion.
Iran's Oil Output and Exports Show no Change
IMF has predicted that Iran's oil output and exports indexes will show no change in 2011 over the previous year. According to the report, Iran's oil output in 2011 will stand at 3.6 million bpd. The total oil output in the Middle East and Central Asia will decrease from 24.5 million bpd in 2010 to 24.1 bpd in 2011. In 2010, Iran's crude oil exports reached 2 million bpd and the figure will show no change in 2011, as well. The total oil exports from the Middle East and Central Asia reached 18.1 million bpd in 2010 which will decrease to 17.9 million bpd in 2011.
Iran's Inflation on Remarkable Growth
Iran's inflation rate will increase from 12.4 percent in 2010 to 22.5 percent in 2011. The average inflation rate in the Middle East and Central Asia will increase from 7.4 percent in 2010 to 10.6 percent in 2011. Iran's inflation rate in 2012 will decrease to 12.5 percent.
Iran's Foreign Exchange Reserves to Hit Record
IMF has predicted that Iran's foreign exchange reserves in 2011 will hit a new record increasing to $104.6 billion. It is for the first time that Iran's foreign exchange reserves exceed $100 billion. The index stood at $79.6 billion in 2008; 478 billion in 2009; and 78.9 billion in 2010. In 2011, the region's total foreign exchange reserves will increase to $1,143 billion from $1,096 billion in 2010. Iran is ranked third among the region's 40 countries in terms of foreign exchange reserves. Saudi Arabia (with $538 billion) and Algeria (with $189 billion) are ranked the second and third countries in terms of foreign exchange reserves. Iran's foreign exchange reserves will reach $138 billion in 2012.
Iran's Liquidity Growth to Fall
Iran's liquidity growth in 2010 reached 26.7 percent which will fall to 23.8 percent in 2011, according to IMF. The average liquidity growth in the Middle East and Central Asia will increase to 13.5% in 2011 from 12.3% in 2010. Iran's liquidity growth in 2012 will reach 15.9%, IMF predicted.
Iran's Exports to Increase 18%
Iran's exports in 2011 will reach $137 billion showing 18 percent ($21 billion) growth over the last year. The total exports in the Middle East and Central Asia will increase to $1,450 billion in 2011 from $1,248 billion in 2010. Iran's imports will also increase from $92.4 billion in 2010 to $1003 billion in 2011. The region's total imports will increase from $976 billion in 2010 to $1,099 billion in 2011.
Iran's Current Accounts Balance on Rise
IMF predicted that Iran's current accounts balance will increase from $24.4 billion in 2010 to $37 billion in 2011. The total current accounts balance in the Middle East and Central Asia will also increase from $180 billion in 2010 to $308 billion in 2011. The index for Iran will decrease to 435.2 billion in 2012, IMF predicted.