Baku, Azerbaijan, Sept. 28
By Umid Niayesh - Trend:
Iran's industry sector has contracted by 2 percent in the spring (March 21-June 22) compared to the preceding year, the Statistical Center of Iran reported Sept. 28.
The center published a report on the Index of Industrial Production (IIP) over the past four years, according to which industry sector shrunk by 2 percent in the first quarter of the Iranian fiscal year.
Setting the Iranian fiscal year 1390 (March 21, 2011 to March 20, 2012) as the main one, that is 1390=100, the IIP reached 85.9 for the spring this year.
Based on the report, the industrial production contracted by 9.9 percent and 4.6 percent in Iranian fiscal years 1391 (March 2012-March 2013) and 1392 (March 2013-March 2014), but expanded by 2.8 percent in Iranian fiscal year 1393 (March 2014-March 2015).
Iran's mining sector also contracted by 0.6 percent in the spring this year, according to the Statistical Center 's report.
Meanwhile, the mineral production contracted by 0.4 percent and 0.7 percent in Iranian fiscal years 1391 (March 2012-March 2013) and 1392 (March 2013-March 2014), but expanded by 1.3 percent in Iranian fiscal year 1393 (March 2014-March 2015).
The International Monetary Fund forecast a 0.6 percent gross domestic product growth for Iran in 2015 in its April World Economic Outlook.
The IMF report put Iran 's GDP growth at 3 percent in 2014, while predicting a 1.3 percent GDP growth for the country in 2016.
The report also said Iran maintained its 2013 rank as the World's 18th largest economy in 2014 based on the purchasing power parity.
Edited by CN
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