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Iran reports 6.6% rise in manufacturing activity in H1 calendar year

US Rep. Ilhan Omar (D-MN) (L) talks with Speaker of the House Nancy Pelosi (D-CA) during a rally with fellow Democrats before voting on H.R. 1, or the People Act, on the East Steps of the US Capitol on March 08, 2019 in Washington, DC. (AFP photo)
Large-scale manufacturing activity in Iran rose by 6.6% in the two quarters to late September.

Central Bank of Iran (CBI) figures show manufacturing activity in the country rose by 6.6% in the two quarters to late September last year compared to the same period in 2021.

CBI figures published in a Tuesday report by the Iranian finance ministry showed that large-scale manufacturing index (LSMI) had reached 119.2 in the country in March-September.

The figures showed that the LSMI had increased in all but three of the 33 categories considered in the index.

The finance ministry report said that production of motor vehicles had increased by 20.8% in Iran in the six months to late September last year, adding that other manufacturing sectors had reported growth figures of up to 56.8% compared to the same period in 2021.

The LSMI index covers activity in all manufacturing units staffed by more than 100 people.

Iran has counted on increased manufacturing activity to boost non-oil exports since its oil sales came under American sanctions in 2018. That comes as the policy has also helped Iran create more jobs for its youth while it has led to increased investment in relatively impoverished regions of the country that are rich in resources.

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