Iran economy

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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Iran may get a lifeline, but major obstacles remain

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The agreement between Tehran and Washington holds out the prospect of sanctions relief and potentially unprecedented foreign investment, but many of its economic promises remain uncertain and some may prove difficult to deliver even if negotiations succeed. The relative strengthening of the Iranian rial suggests the agreement has already had a positive psychological impact. The

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Detailed view of Iranian rial banknotes held in hand, illustrating finance and economy in Iran.

Iran’s services imports surge as goods trade slumps

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Iran’s imports of services surged to a record $25.5 billion in 2025 while merchandise imports fell sharply, according to newly released data from the Central Bank of Iran, highlighting a significant shift in the country’s trade structure. Services imports accounted for roughly one-third of Iran’s total imports during the year, an unusually high share for

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Iran’s Capital Flight Has Surged 4.5-Fold in Five Years

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New data released by Iran’s Central Bank show that despite recording a trade surplus of nearly $27 billion in 2025, the country experienced a capital account deficit of roughly the same magnitude. In practical terms, Iran lost around $27 billion through capital flight last year alone—equivalent to approximately 8 percent of the country’s gross domestic product. The figure

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Major Disruptions Hit China’s Trade with Gulf Arab States

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Author: Dalga Khatinoglu/The Islamic Republic of Iran’s disruption of oil tanker traffic through the Strait of Hormuz has not only triggered a surge in oil prices and reduced China’s crude oil imports, but has also severely affected Beijing’s non-oil trade with Arab Gulf countries.China is the largest trading partner of the member states of the

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China’s Iran balancing act grows more costly

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China is showing growing unease over the economic and strategic costs of Iran’s confrontation with the United States, even as it continues to shield Tehran diplomatically at the United Nations. US President Donald Trump said during his recent visit to Beijing that Chinese President Xi Jinping stressed the importance of keeping the Strait of Hormuz

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