A look at the state of Iran’s feeble economy

The Islamic Republic is a big player in regional geopolitics, but its economy is weak, its people in revolt and its enemies growing bolder. Simon Wilson reports.

Iran’s dependency on oil makes it vulnerable
(Image credit: © 2018 Bloomberg Finance LP)

How big is Iran’s economy?

In 2017, the last year for which it has published final figures, the World Bank put Iran’s GDP at $448bn, making its economy the second biggest in the Middle East and North Africa (after Saudi Arabia). It is also the second biggest country in the region in terms of population (after Egypt) with about 83 million people. Iran’s GDP is about the size of Thailand’s, Venezuela’s or Austria’s. But in terms of GDP per head (about $5,400) it’s less well off: Iran’s population is around ten million more than Thailand, 50 million more than Venezuela and ten times as many as Austria.

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Simon Wilson’s first career was in book publishing, as an economics editor at Routledge, and as a publisher of non-fiction at Random House, specialising in popular business and management books. While there, he published Customers.com, a bestselling classic of the early days of e-commerce, and The Money or Your Life: Reuniting Work and Joy, an inspirational book that helped inspire its publisher towards a post-corporate, portfolio life.   

Since 2001, he has been a writer for MoneyWeek, a financial copywriter, and a long-time contributing editor at The Week. Simon also works as an actor and corporate trainer; current and past clients include investment banks, the Bank of England, the UK government, several Magic Circle law firms and all of the Big Four accountancy firms. He has a degree in languages (German and Spanish) and social and political sciences from the University of Cambridge.