Iran's Service Economy Analysis (By Sunil Jamil)

·         Introduction:

Ø  The economy of Iran is a mixed and transition with a large public sector. Some 50% of the economy is centrally planned. It is dominated by oil and gas production, although over 40 industries are directly involved in the Tehran Stock Exchange.The country is a member of Next Eleven because of its high development potential.A unique feature of Iran's economy is the presence of large religious foundations called Bonyad, whose combined budgets represent more than 30% of central government spending.Most of the country's exports are oil and gas, accounting for a majority of government revenue in 2010. Oil export revenues enabled Iran to amass well over $100 billion in foreign exchange reserves as of 2010.Due to increasingly stringent sanctions imposed by the international community as a result of the country's nuclear program,

·         Pie Chart:

·         Conclusion:

Ø  Iran should improve their relation with international community, so that the sanctions imposed against them should be removed.

Ø  Iran should increase their oil and gas exports and recapture the export market from Iraq because Iran Oil & Gas Exports were badly affected due the sanctions so Iraq took advantage of the situation and captured the Oil and Gas Market.

Ø  Iran should also give impotence to its mining sector; it would be very beneficial for them.

Ø  According to IMF Iran is weak but its economy is growing.