Being situated in the located in southwest Asia, Iran is is surrounded by the Persian Gulf and Gulf of Oman to the south, the Caspian Sea to the north, and the Caspian Sea to the east. Iraq and Turkey, as well as Armenia, Azerbaijan, and Turkmenistan, all share its northern, eastern, and western borders. Iran is the 18th-largest nation in the world in terms of total land area, covering about 1 point 6 million square kilometers.
With a population of more than 83 million, Iran is one of the most populous countries in the Middle East. In addition to the Iranian majority, there are numerous ethnic and linguistic minorities in the country, including Arabs, Kurds, Baloch, and Turkmen.
Iranian officials must speak Persian, also known as Farsi. Although Iran’s economy is diverse, it is heavily dependent on the energy sector. The country is a significant exporter of these commodities and produces some of the most oil and natural gas in the world.
Iran is a major producer of petroleum products like diesel and gasoline. In addition to its energy industry, Iran’s agriculture sector is well-developed and generates a large amount of fruits, vegetables, livestock, and dairy products. The country also exports a sizeable amount of non-oil products like textiles, carpets, and handicrafts. Iran is a major transit country for goods moving between Europe, Asia, and the Middle East thanks to its geographic location and accessibility to regional markets.
Both the Economic Cooperation Organization (ECO) and the Organization of Petroleum Exporting Countries (OPEC) include the country as a member. In conclusion, Iran is a country with a rich history, a diverse population, and tremendous economic potential. Iran is a major player in the world economy, especially in the energy sector, as a result of its favorable location and access to regional markets.
Iran has a robust economy, but recently has had to deal with challenges like international sanctions and a challenging economic environment. Iran is still a significant player in the region despite this.
Author: Pooyan Ghamari, Swiss Economist
Friday, May 5, 2023