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Iran – Important Facts

Iran also known as Persia officially the Islamic Republic of Iran is a sovereign state in Western Asia. It is bordered to the north west by Armenia, the de facto Nagorno-Karabakh Republic, and Azerbaijan; to the north east by Turkmenistan; to the east by Afghanistan and Pakistan; to the south by the Persian Gulf and the Gulf of Oman; to the north by the Caspian Sea; and to the west by Turkey and Iraq. Comprising a land area of 1,648,195 km2 (636,372 sq mi), it is the second-largest country in the Middle East and the 18th-largest in the world. With 78.4 million inhabitants, Iran is the world’s 17th-most-populous country. It is the only country with both a Caspian Sea and an Indian Ocean coastline. The country’s central location in Eurasia and Western Asia, and its proximity to the Strait of Hormuz, make it of great geostrategic importance. Tehran is the country’s capital and largest city as well as its leading economic centre.

Iran is the second largest economy in the Middle East and North Africa (MENA) region after Saudi Arabia, with an estimated Gross Domestic Product (GDP) in 2015 of US$393.7 billion. It also has the second largest population of the region after Egypt, with an estimated 78.8 million people in 2015. Iran’s economy is characterized by a large hydrocarbon sector, small scale agriculture and services sectors, and a noticeable state presence in manufacturing and financial services. Iran ranks second in the world in natural gas reserves and fourth in proven crude oil reserves. Economic activity and government revenues still depend to a large extent on oil revenues and therefore remain volatile.

Facts:Islamic Republic of Iran Capital: Tehran, Population: 75 million, Area: 1.65 million sq km (636,372 sq miles), Major language: Persian, Major religion: Islam, Life expectancy: 71 years (men) and 74 years (women), Currency rial.

Important Details

  • Country ISO3: IRN
  • Country Code: 364
  • Income Group: Middle East & North Africa
  • Lending Category: Upper middle income
  • Region: IBRD
  • Currency Unit: Rial
  • WTO Member: No
  • Trade organisations: ECO, OPEC, GECF, WTO (observer) and others
  • world rank: 171
  • Regional Ranking: 14th in the Middle East/North Africa Region