Knowra Economy of Iran Economy of Iran Iran’s system of production, trade, and consumption is shaped by major oil and gas resources, extensive state involvement, international sanctions, and a large domestic market.
National Iranian Oil Company : Iran’s state-owned company responsible for the exploration, production, and export of oil and natural gas. It controls much of the hydrocarbon sector that generates export earnings and public revenue.
Iranian oil industry : The sector that explores, produces, refines, and exports crude oil and petroleum products in Iran. Oil production and exports are central channels through which global prices affect Iran’s economy.
Iranian automotive industry : Iran’s vehicle manufacturing sector, led by domestic producers and shaped by trade restrictions. It demonstrates how sanctions and import limits affect industrial production and consumer choice.
Command economy : An economic system in which a central authority directs production and allocates resources. Iran has extensive state control but also markets, private firms, and decentralized trade.
United States sanctions against Iran : Restrictions imposed by the United States on Iranian trade, finance, investment, and other activities. They limit access to markets, technology, foreign investment, and international payment systems.
Islamic Revolutionary Guard Corps : Iranian military organization with political influence and extensive involvement in economic activities. Its affiliated businesses and contracting networks are part of the economy’s powerful state-linked sector.
Iranian natural gas industry : The extraction, processing, and distribution of natural gas in Iran. Large reserves support domestic energy use, while export capacity remains constrained.
Iranian agriculture : The cultivation of crops and raising of livestock in Iran. Agriculture supports employment and food supply while facing water scarcity and input constraints.
Mixed economy : An economic system combining private enterprise with government ownership, regulation, and spending. This broad category captures Iran’s coexistence of market activity and substantial state involvement.
European Union sanctions against Iran : Restrictive measures imposed by the European Union on Iran and Iranian entities. European restrictions have affected trade and finance alongside U.S. measures.
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