Iran economy

What a Halt in Oil Revenues Would Mean for Iran’s Economy

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Iran’s floating oil storage in Asian waters—the last supply available for delivery to buyers, predominantly in China—has run dry amid the ongoing U.S. naval blockade, according to tanker-tracking data.  Energy intelligence firm Kpler reports that Iranian oil transit halted in mid-July and loadings stopped completely by mid-August. Once the roughly 15 million barrels stored off

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Accelerating Depletion of Industrial Raw Material Inventories in Iran

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Iran’s Chamber of Commerce has reported an accelerating depletion of raw material inventories across the industrial sector. According to the report, the Raw Material Inventory Index fell from around 44.5 in July to 39.3 in August 22. Meanwhile, the Purchasing Managers’ Index (PMI) for the overall economy also fell to 46.9, signaling economic contraction and

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Iran’s appliance industry is collapsing, and so is the market it was built for

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When a refrigerator breaks in Iran now, the family often cannot replace it, and increasingly cannot afford to repair it either. Behind that is an industry losing its raw materials, its customers and, since March, two of the industrial hubs that supplied it. Iranian manufacturers are being squeezed from both ends at once. The steel

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Iran loses ground on trade as war hits oil and non-oil exports

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Iran’s foreign trade has contracted sharply since the conflict with the United States began, with non-oil exports and imports falling by around a quarter or more, according to customs data released after months of delay. Iran exported about $15 billion worth of non-oil goods, including natural gas and LPG, through August 16, nearly five months

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UAE trade halt threatens one of Iran’s remaining economic lifelines

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The United Arab Emirates’ decision to halt all trade and financial transactions with Iran threatens one of Tehran’s most important routes for imports, petroleum-product sales and access to international commercial and financial networks. The UAE Foreign Ministry said this week that all trade, commercial exchanges and financial transactions with Iran had been halted until further

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Iran Records the Region’s Sharpest Decline in Trade with China

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New Chinese customs data show that Iran has experienced the steepest decline in trade with China among countries in the region during the first seven months of 2026.Bilateral trade between Iran and China fell 57% year-on-year to just $2.58 billion during the January–July period.Iraq recorded a similarly sharp decline, while Oman suffered the least disruption

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First red meat, now dairy: Iran’s household diet keeps shrinking

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Soaring food prices are reshaping what Iranian families eat, with new figures showing a steep decline in dairy consumption alongside a longer retreat from red meat as household purchasing power erodes. Annual dairy consumption has fallen from around 130 kilograms per person in 2010 to just 40 kilograms today, according to Ali Ehsan Zafari, head

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Iran’s Petrochemical Industry: One-Third of Capacity Sitting Idle

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Iran’s petrochemical industry — the country’s second-largest source of foreign currency earnings after oil — is grappling with the fallout from the recent war, even though it had already fallen off its growth trajectory before the Israeli and U.S. attacks. The industry faces three major challenges: chronic feedstock shortages stemming from the country’s natural gas

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Why Israel Targeted Iran’s Karun Petrochemical Complex

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When Israel launched retaliatory strikes against Iranian targets on June 8, 2026, following missile attacks by the Islamic Republic, much of the attention focused on military installations and infrastructure linked to Iran’s security apparatus. Yet among the targets, one facility attracted attention inside Iran: the Karun Petrochemical Complex in the Mahshahr Special Economic Zone in

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