How wealthy is iran?

IRAN NEWS NATIONAL DESK

How one can say a country is rich or poor? What are the parameters for naming a country a rich one? The World Bank and IMF have similar criteria for rating countries as being rich or poor. But the criteria for being rich are different for the citizens and the people. Many believe Iran is one of the richest countries in the world and in the region. But when it comes to the World Bank and IMF reports and statistics, it sometimes differs and it seems the country lacks enough wealth.

But the truth is something else. The Islamic Republic of Iran is actually one of the countries which lures investors and historians because it is one of the richest countries in the world in terms of wealth and culture, blessed by God and with huge natural wealth and pleasant four-season climate. But a question is raised by those who live out of the country: if the country is rich why they cannot see impacts of the wealth in the daily life.

Iran is rich in mineral resources but those resources are needed to be exploited and managed properly. This is the reason why some people think that what they have heard about Iran’s wealth is not accurate.

At least the international body and public have accepted that Iran is rich in oil and gas as the country is the second in the world in terms of its gas reserves. Its wealth is not limited to oil and gas, as it enjoys having several other mineral resources but since the country has not exploited those Heavenly wealth, most people know the country only for its oil and gas.

If you have a look at the World Bank reports, you find Iran among the top 40 countries in terms of gross domestic product and per capita income. According to the World Bank’s forecast for 2019, it is expected Iran’s GDP in 2019 to exceed $413.1b and the per capita income is expected to be $4982 despite sanctions and economic woes.

How wealthy is iran? The country is not only rich in natural resources but also it is rich in history and historic sites. So it helps the country to attract foreign tourists who love seeing historic sites and works.

Iran, despite severe sanctions for decades, has a fairly large economy, second only to Saudi Arabia in the Middle East/Northern Africa.

Having 11 climates out of the world’s 13, Iran’s climate is diverse, ranging from arid and semi-arid, to subtropical along the Caspian coast and the northern forests.

How wealthy is iran? The country has the world’s second largest proved gas reserves after Russia, with 33.6 trillion cubic meters, and the third largest natural gas production after Indonesia and Russia. It also ranks fourth in oil reserves with an estimated 153,600,000,000 barrels. It is OPEC’s second largest oil exporter, and is an energy superpower.

Despite above-mentioned resources, the wealth has not been distributed fairly or even has not been exploited and people feeling the heat of economic problems.

How wealthy is iran? Iran with more than 83m population enjoys human resources and workforce which make the country stronger.

Sanctions have made some rating offices or bodies to have negative view on Iran and they have predicted Iran to rank 81 in terms of GDP and per capita due to the sanctions. But it seems their forecast is unfair because economic condition does not mean the country is poor but it indicates mismanagement.

Bu truth is that Iran’s wealth does not limit to oil and gas as its huge reserves of mineral resources could push up the country in the richest countries’ rankings.

How wealthy is iran? Mining in Iran is underdeveloped, yet the country is one of the most important mineral producers in the world, ranked among 15 major mineral-rich countries, holding some 68 types of minerals, 37 billion tons of proven reserves and more than 57 billion tons of potential reserves worth $770 billion in 2014. Mineral production contributes only 0.6 percent to the country’s GDP. Add other mining-related industries and this figure increases to just four per cent (2005). Many factors have contributed to this, namely lack of suitable infrastructure, legal barriers, exploration difficulties, and government control over all resources.

The most important mines in Iran include coal, metallic minerals, sand and gravel, chemical minerals and salt. Khorasan has the most operating mines in Iran. Other large deposits which mostly remain underdeveloped are zinc (world’s largest), copper (world’s ninth largest reserves in 2011, according to the managing director of National Iranian Copper Industries Company), iron (world’s 12th largest in 2013 according to the U.S. Geological Survey),[6] uranium (world’s tenth largest) and lead (world’s eleventh largest. Iran with roughly 1% of the world’s population holds more than 7% of the world’s total mineral reserves.

Despite having abundant wealth, one cannot see the country as a rich one from outside. In case the country is run and managed wisely and calculatedly, it can change its image from a developed country to a developed otherwise it will be a rich but will live like a poor.

Yes. Iran is rich in culture, history and natural resources and it needs to be looked wisely and evaluated fairly based on its wealth and beauties rather than a fist of figures and statistics. Of course it needs international bodies’ reconsideration for their criteria in their evaluating countries regarding their wealth rather than performance of managements.