Economy of Iran
About one-fourth of Iran is comprised of farm lands. Most of these areas are in the northwestern part of the country. The plains of Gorgan and Gonabad, Gilan and Mazandaran, Khorasan, Azarbaijan, Fars and Khuzestan are among the most fertile areas of the country. Most of the gardening activities are also carried out in these areas. The most important agro-products of the country are wheat, barley, vegetables, grain, fruits, cotton, tobacco, dates, rice, olive, corn, tea, hemp, citrus fruit, sugarcane, and sugar beet. There are fertile pieces of land and abundant water resources in the coastal plains of the Caspian Sea region and the basins of the northwestern part of the country. Citrus fruits and grapes are grown in these areas. The inhabitants of the Zagross heights and the central region are mostly farmers and stock breeders. They depend on farm and livestock products as their main source of income. Wheat, barley, sugarcane, and vegetables are grown in the plains of Khuzestan and the southern coastal areas. According to the available statistics, wheat is grown in some 6.3 hectares of the farmlands. Some 36 percent of the wheat is cultivated by water farming and the remaining 64 percent cultivated by dry farming.
- Iran ranks sixth in the world and fourth in the Middle East in terms of oil (petroleum) resources. Iran is among the top four countries of the world, which will have oil resources for the next 70 years. It produces about 4.5 million barrels of oil per day, some 2.9 million of which are exported to other countries.
- Iran ranks second in the world in terms of its gas reserves (23 trillion cubic meters). Most of these reserves are located in Aghajari (Khuzestan province), Kangan (Bushehr province), the Qeshm Island (Hormuzgan province), and Khangiran-e-Sarakhs (Khorasan province). Over two third of the urban and rural areas have access to gas pipelines. Over 17 percent of the power plants of the country operate on gas.
- The main coalmines are situated in the Alborz region and the provinces of Khorasan and Kerman. Every year, over 1.5 million tons of coals are exploited for steel production. The largest coalmine of the country
- Some 87 percent of the country's electrical power is produced by power plants which operate on natural gas, furnace oil, and gas oil. This is due to the fact that fossil fuel is found in abundance in Iran. Due to the water shortage in the country, only 13 percent of the power plants operate on steam. The recommended voltages for home appliances and industrial machines are 220 V and 380 V respectively. Iran is working on the utilization of wind and atomic energies in order to boost its electrical power system. Iran currently exports electrical power to Turkey and the Republic of Azerbaijan.
The monetary unit in Iran is the Rial. It is available in coins of 5, 10, 50, 100, 250, and 500 Rials; and banknotes of 100, 200, 500, 1000, 2000, 5000, 10000, and 20000 Rials. Although Rial is the official currency in everyday life people usually deal in Toomans. Each Toman is equivalent to 10 Rials. All the Iranian banks may provide Iranians and foreigners with traveler's checks of 200,000; 500,000; 1,000,000; 2,000,000; and 5,000,000 Rials with no banking charge in order to facilitate the transport of money.