Iran Industry Sectors

By: Liz Zuliani   Date: 12 April 2011

About The Author

Liz Zuliani

Diverse background in digital media, with experience working across large networks, to boutique

Liz Zuliani, EconomyWatch Contributor

 

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Iran has a diverse range of industries, however the primary focus remains the oil and petroleum industry which represents 60 percent of the government’s budget. Iran is also the 3rd largest producer of natural gas in the world, generating more than 200 billion cubic metres of natural gas in 2010 alone. The emergence of Iran's natural gas industry could decrease the country's dependence on oil.

Despite possessing the 2nd largest proven natural gas reserves in the world behind Russia, there remains numerous locations in Iran, both on and offshore, that potentially hold greater supplies of natural gas and oil yet. Iran is listed among eleven countries besides the BRICs with the potential to become among the world’s largest economies in the 21st century.

Iran Industry Sectors

Iran’s GDP in 2010 was made up of; agriculture contributing 10.8 percent to GDP, industry contributing 44.3 percent and services; 44.9 percent.

Iran’s industries include the production of petroleum, petrochemicals, fertilizers, caustic soda, textiles, cement and other construction materials, food processing (particularly sugar refining and vegetable oil production), ferrous and non-ferrous metal fabrication and armaments.

Another potential industry for Iran is mining of its mineral deposits. The country possesses the world's largest zinc reserves and the second largest reserves of copper. In addition, Iran also possesses significant reserves of iron, uranium, lead, chromite, manganese, coal and gold.

Unfortunately, mining is underdeveloped and the Iranian government needs foreign investment to develop the mining industry.


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