Iran Doubles GDP in 5 Years despite Sanctions

[PERSIAN GOD KING]

TEHRAN (FNA)- Iranian Economy Minister Seyed Shamseddin Hosseini said that the country's Gross Domestic Product (GDP) has doubled during the last five years, saying that the powerful growth proves Tehran's ability to successfully defuse the western sanctions.




Addressing a parliament session here in Tehran on Tuesday, Hosseini cited the statistical figures released by the International Monitory Fund (IMF) on the growth of Iran's GDP from $241bln to $482bln during the last five years, and said based on the figures Iran is now the 17th world economy.

He added that despite all animosities, Iran has managed to increase foreign investment from $1.6bln to $4.3bln and non-oil exports from $15.3bln to $43bln.

He further announced that the value of Iran's stock exchange has witnessed a 280% growth, and said all these figures show powerful growth in Iranian economy which, in turn, proves that the country has prevailed over sanctions.

"Due to the Islamic Republic of Iran's economic capacities we have been able to move through the sanctions and will do the same in future as well," Hosseini reiterated.

Washington and its Western allies accuse Iran of trying to develop nuclear weapons under the cover of a civilian nuclear program, while they have never presented any corroborative evidence to substantiate their allegations. Iran denies the charges and insists that its nuclear program is for peaceful purposes only.

Tehran stresses that the country has always pursued a civilian path to provide power to the growing number of Iranian population, whose fossil fuel would eventually run dry.

Despite the rules enshrined in the Non-Proliferation Treaty (NPT) entitling every member state, including Iran, to the right of uranium enrichment, Tehran is now under four rounds of UN Security Council sanctions for turning down West's calls to give up its right of uranium enrichment.

Tehran has dismissed the West's demand as politically tainted and illogical, stressing that sanctions and pressures merely consolidate Iranians' national resolve to continue the path.
Fars News Agency :: Minister: Iran Doubles GDP in 5 Years despite Sanctions

 

[Chinese-Dragon]

Well done to Iran.

China's GDP doubles every 5 years as well, which means that Iran along with China are two of the fastest growing economies in the world.

 

[PERSIAN GOD KING]

Well done to Iran.

China's GDP doubles every 5 years as well, which means that Iran along with China are two of the fastest growing economies in the world.

Iran needs to invest in agriculture, we are connecting our caspian sea to central Iran, that water will be an huge help for our agriculture. we will become an huge exporter of food in the future. also Iran is turning itself into a power hub in the region. we will sell electricty to other countries, we already make about 2 billion a year from that, and in the future that will increase greatly.

China needs to become an innovating country, meaning you need to create the product and export them, not just manufacture ipads and so on and export them. China is making giant leaps in this regard you are starting to become a innovating nations.
if you achieve this and create your own BRICS currency then you will destroy the USA

 

[lem34]

Well done to Iran & and welcome back PGK

 

[Pakistanisage]

Iran and China are a GDP exploding factories...

Well done, Guys...

 

[Adnan Faruqi]

Best of luck to the brother Iran

 

[Hyde]

The figures are even more interesting if you see from 2005

In 2005 Iran's GDP was around 202 billion dollars, in 2011 that was around 482 billion dollars and expected to be 496 billion dollars in 2012 as per the IMF's indicators

Source: Report for Selected Countries and Subjects

Technically all of the oil rich nations has quickly doubled their GDP's in last few years due to high oil prices in the world. Western economies doomed and oil rich nations prospered. I have listed few oil rich nations for glance

Report for Selected Countries and Subjects

Venezuela from 144 billion dollars in 2005 to 337 billion dollars in 2012
Iraq: from 31 billion dollars to 144 billion dollars in 2012
Saudi Arabia from 315 billion dollars to 651 billion dollars
Iran from 202 billion dollars to 496 billion dollars in 2012

PS: You can play with the IMF tools to create the report of your choice

 

[lem34]

Iran and China are a GDP exploding factories...

Well done, Guys...

The common strand in China and Iran is that they are disliked by America for asserting their independence and doing the best for their people

 

[PERSIAN GOD KING]

Well done to Iran & and welcome back PGK

LOL thank hopefully I wont be banned again...

 

[xdrive]

Are these figures in U.S Dollars or national currency?

The only reason Irans GDP has doubled is because the country as seen basic development and population consumerism which outside sanctions have no effect on whatsoever.

Iran is not a rich country, nor could it be compared to other countries development like China.

 

[Hyde]

Are these figures in U.S Dollars or national currency?

The only reason Irans GDP has doubled is because the country as seen basic development and population consumerism which outside sanctions have no effect on whatsoever.

Iran is not a rich country, nor could it be compared to other countries development like China.

Yes it is in US dollars

Iran progressed because the oil prices jumped from 40~ dollars per barrel in 2005 to 148 dollars in 2008. So basically for one barrel where Iran was earning 40 dollars, they got 150 dollars in pocket... All money can be considered as profit.

True they don't have the best of infrastructures but I am very impressed with Iran's consistent attempt to become a self-dependent nation so they have already managed to build enough structure to begin with. They are still behind but may not be behind in the next few years. About 3/4 of Iran's exports are oil only but they are gradually being industrialized so all good for them.

 

[lem34]

The only reason Irans GDP has doubled is because the country as seen basic development and population consumerism which outside sanctions have no effect on whatsoever.

Sanctions do not work especially when you have countries like Chin and Russia are prepared to ignore them.


Sanctions are all very well, but if they are to work they must be universally applied. And as Nicholas Burns, the most senior professional US diplomat in the Bush Administration says, as far as Iran is concerned this is just not happening.

"Many countries are effectively ignoring them or, like China, undercutting them," he says.

Indeed he argues that China has become the largest trading partner with Iran since these UN sanctions have come into effect.

"They are a very difficult and sensitive policy instrument", he concludes and, echoing Adam Roberts' view, he says "there are very few examples looking back over the last 25 to 30 years where sanctions have actually succeeded".

BBC News - Analysis: Do economic sanctions work?

 

[Zulkarneyn]

Well Turkey isn't doing bad either
2005: 482 billion dollars
2012: 817 billion dollars

Without huge natural resources. While Iran and Saudi Arabia's income is 90% from natural resources at least.

Therefore China and Turkey is better comparable than China and Iran. Both China and Turkey is huge importer of oil and gas. But still doubling its economy every 5 years.

 

[Chinese-Dragon]

Sanctions do not work especially when you have countries like Chin and Russia are prepared to ignore them.

I have been trying to learn some Persian words recently, and apparently they do call us "Chin".

Which is where the name "China" came from.

(It was a Persian transliteration of the name of the Qin Emperor, which later became the word China).

 

[PERSIAN GOD KING]

Well Turkey isn't doing bad either
2005: 482 billion dollars
2012: 817 billion dollars

Without huge natural resources. While Iran and Saudi Arabia's income is 90% from natural resources at least.

Therefore China and Turkey is better comparable than China and Iran. Both China and Turkey is huge importer of oil and gas. But still doubling its economy every 5 years.

so what? just because we are lucky to have world largest hydrocarbon reserves and we use them means we are not as good as turkey? Iran's economy was growing much better than your before sanctions, so don't compare yourself to a nation under 30+ years of sanctions.

even so under these sanctions we still manufacture more cars than you, so our industry is not that bad.