Market News

In Brief: Iran’s Economic Contraction

Submitted by Taps Coogan on the 14th of January 2020 to The Sounding Line.

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Amid ongoing geopolitical tensions between the US and Iran, and mounting anti-government protests in Iran, it is important remember that the Iranian economy is in the midst of its largest contraction in recent memory. As the following infographic from Statista.com highlights, the Iranian economy shrunk by a whopping 9.5% in 2019 once the country’s persistently high inflation rate is accounted for.

Chart Courtesy of Statista

While a 9.5% contraction in real GDP is worse than the US during the worst year of the Great Depression, it is nothing compared to Venezuela which likely suffered a mind boggling 35% contraction in its economy last year.

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Source: thesoundingline.com

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