The agriculture sector remains the main driver of growth in Iran’s economy, the data released by the Statistical Center of Iran (SCI) shows.
According to the SCI, the economy grew by 0.8% during the third quarter of the current fiscal year (Sept. 22-Dec. 20, 2020).
Growth, excluding oil, was at 0.2% during the three-month period.
The agriculture sector saw a 5.5% expansion during the period, making it the highest scorer among economic sectors.
The industries and mining expanded with 3.7% while industries and mining, excluding oil hit 3.1%.
The services sector contracted by 1.8% during the third quarter of the current year.
Construction, which is a subsector of industries and mining group, expanded by 8.5% in Q3.
The SCI report also shows Iran’s gross domestic product during the nine-month period leading to Dec. 20, 2020 (Q1-3), contracted by 1.2% compared with the corresponding period of the year before.
Economic growth, excluding oil, saw a 1% decline during the three quarters.
A sectoral breakdown of growth rates during the nine-month period shows agriculture also topped the list of growth with 3%.
Industries and mining and industries and mining, excluding oil experienced a growth rate of 0.8% and 2.5% respectively.
The services sector contracted by 3.3% and the construction subsector expanded by 3.9%.
Agriculture was also the only sector that experienced growth in the last Iranian year (March 2019-20).
According to the Statistical Center of Iran, the sector expanded by 3% during the fiscal 2019-20, while the overall Iranian economy experienced a -7% contraction.
SCI noted that GDP shrank by -0.6%, excluding oil production.
The sectors of industries and mines, and services saw a respective contraction of 14.7% and 0.3%.