Iran reports 10.1% GDP contraction as oil and gas activity falls during war
Iran's statistics agency reported that GDP fell 10.1% year over year from March 21 through June 20, while oil and gas activity contracted 26.4%.
Data from the government-administered Statistical Center of Iran showed the economy contracted in the first quarter of the Persian calendar, covering the opening months of the U.S.-Israel war with Iran.
The agency reported a 4.6% decline when oil was excluded, while industry and mining, services, and manufacturing also contracted and agriculture grew.