Iran's Economy Contracted 10.1 Percent in Spring 1405, Oil the Main Driver

According to the latest data from Iran's Statistical Center, published by EcoIran, Iran's economy contracted 10.1 percent in the Iranian spring quarter of 1405 (the quarter ending in July 2026). More than 60 percent of the decline, equal to 6.7 percentage points, came from falling oil sector output. The services sector subtracted 1.9 percentage points and industry and mining subtracted 1.6 percentage points. Agriculture was the only sector with positive growth, adding 0.1 percentage points. The report noted that industry accounted for about 30 percent of economic growth in the spring of 1400 (2021), but that share has shrunk in recent quarters.