Source for data, estimates and forecast: World Bank

Iran’s economy will have shrunk by 4.9% over the course of this year and by a further 8.7% during 2020¹, according to estimates produced by the World Bank². The country is reeling in the fallout of the Trump administration’s decision to withdraw from the nuclear treaty it signed in 2015 with the Obama administration and other world powers³. The deal had been a boon for the Islamic Republic where the lifting of sanctions contributed to growth of 13.4% during 2017. Once the effects of the latest sanctions are absorbed, World Bank forecasters predict flat growth of 0.1% in 2021 and 1% in 2022.