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Iran reports 11.3% rise in manufacturing activity in Dec quarter

Iran’s manufacturing sector experienced a double-digit growth in the quarter to late December.

Central Bank of Iran (CBI) figures show manufacturing activity in the country rose by 11.3% in the quarter to December 21 last year compared to the same period in 2021.

CBI figures published in a Wednesday report by Tasnim news agency showed that large-scale manufacturing index (LSMI) in Iran had reached 130.5 in the third quarter of the last calendar year.

The figure was also an increase of 22.6% compared to December quarter of 2019, said the report.

It said the LSMI, an index that covers activity in manufacturing units staffed by more than 100 people, had increased by 8.3% in Iran in the three quarters to late December last year compared to the same period in 2021.

The report added that 15 out the 33 manufacturing categories considered in the LSMI index had experienced a double-digit growth in the December quarter.

CBI figures showed that manufacturing categories like garment and shoes, machinery and equipment, textiles and motor vehicles had reported higher growth in activity compared to energy-intensive industries like petrochemicals and oil products industries.   

It said manufacturing of machinery and equipment in Iran had nearly doubled year on year in the quarter to late December.

Iran has sought increased activity in its manufacturing sector in recent years as part of plans to diversify the economy away from crude and to create more jobs for the youth in the country. 

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