Iran has a GDP of $437B compared to $23.6B for Mongolia, ranking 37/197 and 121/197 by economy size, respectively.
Iran has $161B in government debt (39.9% of GDP), compared to $10.5B (42.6% of GDP) in Mongolia.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Iran
|
Mongolia
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | $4,199,134,390 | $50,350,548,203 | - | - |
| 1961 | $4,426,949,095 | $55,582,432,558 | - | - |
| 1962 | $4,693,566,416 | $59,978,596,071 | - | - |
| 1963 | $4,928,628,018 | $64,202,333,927 | - | - |
| 1964 | $5,379,845,648 | $69,643,628,269 | - | - |
| 1965 | $6,197,319,929 | $81,507,915,873 | - | - |
| 1966 | $6,789,938,672 | $90,883,288,326 | - | - |
| 1967 | $7,555,383,690 | $101,110,205,808 | - | - |
| 1968 | $8,623,172,960 | $115,674,304,557 | - | - |
| 1969 | $9,743,089,607 | $133,623,091,839 | - | - |
| 1970 | $10,976,245,154 | $148,224,891,000 | - | - |
| 1971 | $13,731,802,833 | $168,534,047,458 | - | - |
| 1972 | $17,153,463,263 | $192,969,825,710 | - | - |
| 1973 | $27,081,698,250 | $207,330,025,747 | - | - |
| 1974 | $46,209,092,072 | $219,357,345,963 | - | - |
| 1975 | $51,776,222,350 | $218,641,766,675 | - | - |
| 1976 | $68,055,295,081 | $258,566,705,735 | - | - |
| 1977 | $80,600,122,702 | $251,395,157,267 | - | - |
| 1978 | $77,994,316,621 | $219,113,865,436 | - | - |
| 1979 | $90,391,877,326 | $192,774,712,987 | - | - |
| 1980 | $94,362,275,580 | $151,136,050,943 | $2,101,394,100 | - |
| 1981 | $100,499,312,750 | $142,526,151,688 | $2,310,099,100 | $2,484,401,291 |
| 1982 | $125,948,756,439 | $175,551,236,248 | $2,552,401,933 | $2,691,653,428 |
| 1983 | $156,365,156,618 | $195,014,104,732 | $2,725,736,633 | $2,848,685,511 |
| 1984 | $162,276,728,620 | $181,090,389,202 | $2,098,734,600 | $3,017,709,971 |
| 1985 | $180,183,629,600 | $184,472,523,734 | $2,186,505,475 | $3,190,107,887 |
| 1986 | $209,094,561,833 | $166,422,061,469 | $2,896,178,867 | $3,489,180,327 |
| 1987 | $134,009,995,923 | $166,135,636,308 | $3,020,611,600 | $3,609,858,809 |
| 1988 | $123,057,861,334 | $156,031,272,523 | $3,204,461,567 | $3,794,249,397 |
| 1989 | $120,496,362,916 | $165,599,290,647 | $3,576,966,800 | $3,952,780,564 |
| 1990 | $124,813,263,926 | $188,112,392,401 | $2,560,785,660 | $3,826,905,841 |
| 1991 | $131,637,664,958 | $212,033,043,459 | $2,379,018,326 | $3,494,212,070 |
| 1992 | $119,768,691,217 | $219,025,854,895 | $1,317,611,864 | $3,170,771,528 |
| 1993 | $63,743,623,231 | $215,803,959,419 | $768,401,634 | $3,070,296,388 |
| 1994 | $71,841,461,172 | $212,138,990,732 | $925,817,092 | $3,135,828,262 |
| 1995 | $96,419,225,745 | $217,232,542,412 | $1,452,165,005 | $3,335,782,059 |
| 1996 | $120,403,931,883 | $231,027,951,541 | $1,345,719,472 | $3,410,339,918 |
| 1997 | $113,919,163,421 | $234,147,751,321 | $1,180,934,203 | $3,543,231,097 |
| 1998 | $110,276,913,362 | $239,018,052,132 | $1,124,440,205 | $3,661,572,769 |
| 1999 | $113,848,450,089 | $243,804,857,658 | $1,057,408,589 | $3,773,996,565 |
| 2000 | $109,591,707,801 | $258,056,537,600 | $1,136,896,124 | $3,817,248,911 |
| 2001 | $126,878,750,296 | $264,229,695,673 | $1,267,997,934 | $3,929,961,222 |
| 2002 | $128,626,917,504 | $285,576,361,692 | $1,396,555,720 | $4,115,965,440 |
| 2003 | $151,911,222,120 | $310,248,155,726 | $1,595,297,356 | $4,404,273,778 |
| 2004 | $187,754,571,247 | $323,702,581,959 | $1,992,066,808 | $4,872,245,747 |
| 2005 | $224,970,371,329 | $334,028,060,130 | $2,523,471,601 | $5,225,662,153 |
| 2006 | $265,602,187,406 | $350,728,779,278 | $3,414,055,662 | $5,672,782,077 |
| 2007 | $349,736,591,836 | $379,333,424,180 | $4,234,999,704 | $6,254,129,712 |
| 2008 | $406,070,949,551 | $380,285,006,931 | $5,623,216,608 | $6,810,770,268 |
| 2009 | $414,059,094,950 | $384,115,942,808 | $4,583,850,368 | $6,724,368,909 |
| 2010 | $487,069,570,461 | $406,386,748,156 | $7,189,481,999 | $7,152,385,862 |
| 2011 | $629,082,257,472 | $417,138,595,177 | $10,409,797,378 | $8,389,088,994 |
| 2012 | $644,019,315,004 | $401,507,697,046 | $12,292,770,632 | $9,422,609,645 |
| 2013 | $500,399,839,840 | $395,396,833,391 | $12,582,122,604 | $10,520,241,545 |
| 2014 | $462,284,793,281 | $415,106,476,158 | $12,226,514,668 | $11,349,786,312 |
| 2015 | $409,191,686,497 | $409,191,686,497 | $11,619,892,591 | $11,619,892,591 |
| 2016 | $459,042,684,193 | $445,262,288,195 | $11,181,350,649 | $11,793,003,948 |
| 2017 | $489,168,731,811 | $457,544,871,773 | $11,480,847,741 | $12,457,761,003 |
| 2018 | $398,880,231,367 | $449,135,162,389 | $13,178,094,720 | $13,422,599,720 |
| 2019 | $333,519,146,339 | $435,344,072,057 | $14,206,359,018 | $14,174,566,537 |
| 2020 | $262,186,179,356 | $449,842,285,446 | $13,312,981,429 | $13,528,524,951 |
| 2021 | $383,436,202,447 | $471,073,841,462 | $15,286,441,738 | $13,749,955,732 |
| 2022 | $394,362,621,793 | $488,864,564,083 | $17,146,471,714 | $14,441,951,079 |
| 2023 | $404,625,655,076 | $513,527,244,544 | $20,325,121,394 | $15,513,848,973 |
| 2024 | $436,906,331,672 | $529,138,474,367 | $23,586,055,802 | $16,268,442,809 |
Economic indicators
|
Iran
|
Mongolia
|
|
|---|---|---|
| Gross domestic product |
$437B
2024 |
$23.6B
2024 |
| GDP rank |
37/197
2024 |
121/197
2024 |
| GDP growth |
7.98%
2023-2024 |
16%
2023-2024 |
| GDP per capita |
$4,771
2024 |
$6,691
2024 |
| GDP per capita rank |
122/197
2024 |
107/197
2024 |
| GDP per capita, PPP |
$18,442
2024 |
$19,098
2024 |
| Government debt |
$161B
2024 |
$10.5B
2024 |
| Debt-to-GDP ratio |
39.9%
2025 |
42.6%
2025 |
| Government debt per person |
$1,758
2024 |
$2,969
2024 |
| Government debt per person rank |
121/185
2024 |
101/185
2024 |
| Average annual personal income after taxes |
$2,970
2025 |
$6,196
2025 |
| Market capitalization of domestic companies |
$172B
2024 |
n/a |
| Income share by richest 10% |
28.2%
2023 |
24.6%
2022 |
| Income share by poorest 10% |
2.8%
2023 |
3.4%
2022 |
| Government expenditure, % of GDP |
15%
2025 |
36.6%
2025 |
| Consumer prices inflation |
32.5%
2023-2024 |
8.3%
2024-2025 |
| Central bank interest rate |
23%
2023 |
12%
2025 |
| Unemployment rate |
8.13%
2023 |
5.18%
2023 |
| Population |
93020793
|
3599274
|
GDP per capita in Iran vs Mongolia
Iran's GDP per capita is $4,771, ranking 122/197, compared to $6,691 in Mongolia, ranking 107/197. Adjusted for purchasing power (GDP per capita PPP), Iran ranks 101st at $18,442, while Mongolia ranks 96th at $19,098.
| Year | Current $ | |||
|---|---|---|---|---|
|
Iran
|
Mongolia
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | $195.6 | - | - | - |
| 1961 | $200.1 | - | - | - |
| 1962 | $205.8 | - | - | - |
| 1963 | $209.6 | - | - | - |
| 1964 | $221.7 | - | - | - |
| 1965 | $247.5 | - | - | - |
| 1966 | $262.9 | - | - | - |
| 1967 | $283.7 | - | - | - |
| 1968 | $314 | - | - | - |
| 1969 | $345 | - | - | - |
| 1970 | $377 | - | - | - |
| 1971 | $457 | - | - | - |
| 1972 | $555 | - | - | - |
| 1973 | $851 | - | - | - |
| 1974 | $1,409 | - | - | - |
| 1975 | $1,532 | - | - | - |
| 1976 | $1,954 | - | - | - |
| 1977 | $2,243 | - | - | - |
| 1978 | $2,101 | - | - | - |
| 1979 | $2,352 | - | - | - |
| 1980 | $2,368 | - | $1,235 | - |
| 1981 | $2,393 | - | $1,325 | - |
| 1982 | $2,845 | - | $1,430 | - |
| 1983 | $3,397 | - | $1,490 | - |
| 1984 | $3,395 | - | $1,120 | - |
| 1985 | $3,634 | - | $1,138 | - |
| 1986 | $4,064 | - | $1,469 | - |
| 1987 | $2,513 | - | $1,493 | - |
| 1988 | $2,234 | - | $1,543 | - |
| 1989 | $2,125 | - | $1,684 | - |
| 1990 | $2,138 | $7,256 | $1,220 | $3,479 |
| 1991 | $2,194 | $8,229 | $1,099 | $3,183 |
| 1992 | $1,957 | $8,524 | $608 | $2,951 |
| 1993 | $1,038 | $8,567 | $355 | $2,929 |
| 1994 | $1,168 | $8,585 | $423 | $3,021 |
| 1995 | $1,550 | $8,877 | $653 | $3,229 |
| 1996 | $1,915 | $9,510 | $596 | $3,310 |
| 1997 | $1,790 | $9,688 | $515 | $3,449 |
| 1998 | $1,709 | $9,864 | $484 | $3,555 |
| 1999 | $1,740 | $10,060 | $449 | $3,664 |
| 2000 | $1,650 | $10,729 | $476 | $3,740 |
| 2001 | $1,881 | $11,061 | $524 | $3,889 |
| 2002 | $1,891 | $12,041 | $570 | $4,083 |
| 2003 | $2,209 | $13,192 | $643 | $4,399 |
| 2004 | $2,672 | $13,835 | $794 | $4,942 |
| 2005 | $3,132 | $14,402 | $995 | $5,406 |
| 2006 | $3,619 | $15,256 | $1,330 | $5,977 |
| 2007 | $4,688 | $16,673 | $1,628 | $6,678 |
| 2008 | $5,377 | $16,831 | $2,127 | $7,297 |
| 2009 | $5,416 | $16,894 | $1,703 | $7,119 |
| 2010 | $6,291 | $17,866 | $2,625 | $7,532 |
| 2011 | $8,026 | $18,487 | $3,736 | $8,862 |
| 2012 | $8,114 | $16,325 | $4,329 | $10,152 |
| 2013 | $6,223 | $15,552 | $4,340 | $10,442 |
| 2014 | $5,672 | $15,408 | $4,126 | $10,900 |
| 2015 | $4,953 | $13,690 | $3,839 | $10,458 |
| 2016 | $5,477 | $14,573 | $3,620 | $10,511 |
| 2017 | $5,753 | $15,070 | $3,646 | $11,096 |
| 2018 | $4,632 | $14,840 | $4,108 | $12,317 |
| 2019 | $3,831 | $13,348 | $4,348 | $13,605 |
| 2020 | $2,989 | $14,110 | $4,001 | $13,693 |
| 2021 | $4,335 | $14,952 | $4,518 | $14,792 |
| 2022 | $4,405 | $16,424 | $4,994 | $16,402 |
| 2023 | $4,466 | $17,660 | $5,839 | $18,005 |
| 2024 | $4,771 | $18,442 | $6,691 | $19,098 |
Spending and national debt comparison
In 2024, Iran's government spending was $64.6B, accounting for 15% of its GDP, while Mongolia's spent $8.92B, or 36.6% of GDP.
Debt-to-GDP ratio is 39.9% in Iran and 42.6% in Mongolia, ranking 135/185 and 129/185, respectively.
| Year | % of GDP | |||
|---|---|---|---|---|
|
Iran
|
Mongolia
|
|||
| Government spending | Government debt | Government spending | Government debt | |
| 1962 | 15.6% | 13.4% | - | - |
| 1963 | 14.8% | 12.4% | - | - |
| 1964 | 15.4% | 15.2% | - | - |
| 1965 | 16.3% | 14.9% | - | - |
| 1966 | 20.5% | - | - | - |
| 1967 | 22.3% | - | - | - |
| 1968 | 23.6% | - | - | - |
| 1969 | - | - | - | - |
| 1970 | - | 14.1% | - | - |
| 1971 | - | 14.2% | - | - |
| 1972 | - | 12.7% | - | - |
| 1973 | - | 12.8% | - | - |
| 1974 | - | 6.68% | - | - |
| 1975 | - | 8.81% | - | - |
| 1976 | - | 6.92% | - | - |
| 1977 | - | 9.23% | - | - |
| 1978 | - | - | - | - |
| 1979 | - | - | - | - |
| 1980 | 35.8% | 35.5% | - | - |
| 1981 | 33.7% | 47.6% | - | - |
| 1982 | 29.7% | 47.7% | - | - |
| 1983 | 27.5% | 35.7% | - | - |
| 1984 | 23.7% | 10% | - | - |
| 1985 | 21.6% | 8.73% | - | - |
| 1986 | 19% | 47.4% | - | - |
| 1987 | 18.6% | 48.6% | - | - |
| 1988 | 23.6% | 53.2% | - | - |
| 1989 | 20% | 48.8% | - | - |
| 1990 | 20% | 37% | 51.7% | - |
| 1991 | 17.1% | 29.3% | 46% | - |
| 1992 | 17.6% | 25.2% | 29.1% | 29.3% |
| 1993 | 33.2% | 25.6% | 38.3% | 57.8% |
| 1994 | 28.1% | 41.7% | 32.2% | 57.6% |
| 1995 | 25.6% | 31.2% | 26.6% | 40.2% |
| 1996 | 21.1% | 35.8% | 28.6% | 49.7% |
| 1997 | 21.2% | 37.7% | 30.8% | 61% |
| 1998 | 20.6% | 36.2% | 36.2% | 77.5% |
| 1999 | 19.2% | 27.1% | 33.2% | 103.7% |
| 2000 | 16.3% | 22.2% | 34.5% | 79.3% |
| 2001 | 16.6% | 25.6% | 35.2% | 69.2% |
| 2002 | 19.1% | 28.5% | 35.5% | 72% |
| 2003 | 19.1% | 26.8% | 33.7% | 90% |
| 2004 | 18.4% | 25.7% | 31.8% | 75% |
| 2005 | 21.7% | 22.2% | 25.1% | 55.9% |
| 2006 | 22.4% | 18.2% | 26.2% | 40.9% |
| 2007 | 17% | 16.1% | 35.3% | 36.1% |
| 2008 | 19.7% | 12.4% | 37.6% | 31% |
| 2009 | 18.1% | 13.3% | 35.5% | 48.5% |
| 2010 | 16.3% | 14.8% | 31.6% | 31% |
| 2011 | 16.9% | 12.3% | 37.9% | 32.7% |
| 2012 | 13.2% | 13.6% | 36.1% | 43.7% |
| 2013 | 13.3% | 11.8% | 32.2% | 49.4% |
| 2014 | 14.2% | 12.6% | 32.1% | 44% |
| 2015 | 16.3% | 37% | 31.2% | 50.5% |
| 2016 | 17% | 47.9% | 39.7% | 78.7% |
| 2017 | 17.1% | 45% | 32.2% | 86.9% |
| 2018 | 15.3% | 42.9% | 28.4% | 76.5% |
| 2019 | 14.1% | 46.6% | 30.8% | 66.8% |
| 2020 | 13% | 48.3% | 37.1% | 83.4% |
| 2021 | 14.2% | 42.4% | 35.9% | 67.7% |
| 2022 | 13.8% | 36.9% | 33.7% | 64.5% |
| 2023 | 14.8% | 33.5% | 31.9% | 45.9% |
| 2024 | 14.8% | 36.8% | 37.8% | 44.4% |
| 2025 | 15% | 39.9% | 36.6% | 42.6% |
Government deficit by year
In 2024, Iran's government deficit, the difference between spending and revenue, was -$18B, equivalent to -4.11% of GDP. This compares to Mongolia's surplus of $332M, or 1.41% of GDP.
Over the past 35 years, Iran recorded a fiscal deficit in 33 of those years, while Mongolia ran a deficit in 26 years. On average, Iran posted an annual deficit equal to -2.48% of GDP, compared to deficit of -4.23% of GDP for Mongolia.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Iran
|
Mongolia
|
|
| 1962 | -1.39% | - |
| 1963 | 0.26% | - |
| 1964 | -0.04% | - |
| 1965 | -1.23% | - |
| 1966 | -2.63% | - |
| 1967 | -4% | - |
| 1968 | -4.57% | - |
| 1969 | -4.57% | - |
| 1970 | -4.57% | - |
| 1971 | -4.57% | - |
| 1972 | -4.57% | - |
| 1973 | -4.57% | - |
| 1974 | -4.57% | - |
| 1975 | -4.57% | - |
| 1976 | -4.57% | - |
| 1977 | -4.57% | - |
| 1978 | -4.57% | - |
| 1979 | -4.57% | - |
| 1980 | -14.2% | - |
| 1981 | -10.7% | - |
| 1982 | -5.55% | - |
| 1983 | -6.15% | - |
| 1984 | -4.02% | - |
| 1985 | -3.74% | - |
| 1986 | -7.84% | - |
| 1987 | -6.84% | - |
| 1988 | -10.3% | - |
| 1989 | -4.45% | - |
| 1990 | -2.11% | -9.37% |
| 1991 | -2.01% | -6.37% |
| 1992 | -1.05% | -8.1% |
| 1993 | -6.28% | -13.3% |
| 1994 | -4.1% | -9.74% |
| 1995 | -3.21% | -4.97% |
| 1996 | -0.91% | -6.88% |
| 1997 | -2.21% | -8.09% |
| 1998 | -6.14% | -12.3% |
| 1999 | -0.62% | -9.91% |
| 2000 | 6.61% | -5.82% |
| 2001 | 0.02% | -4.33% |
| 2002 | -3.52% | -4.74% |
| 2003 | -3.36% | -3.38% |
| 2004 | -2.98% | -1.62% |
| 2005 | -2.95% | 2.43% |
| 2006 | -5.88% | 7.58% |
| 2007 | -2.87% | 2.64% |
| 2008 | -5.14% | -4.52% |
| 2009 | -3.82% | -5.2% |
| 2010 | -0.97% | 0.43% |
| 2011 | -0.76% | -4.01% |
| 2012 | -0.58% | -6.24% |
| 2013 | -0.83% | -0.93% |
| 2014 | -1.05% | -3.73% |
| 2015 | -1.5% | -5.04% |
| 2016 | -1.77% | -15.3% |
| 2017 | -1.61% | -3.72% |
| 2018 | -1.64% | 2.85% |
| 2019 | -4.48% | 1% |
| 2020 | -5.22% | -9.24% |
| 2021 | -3.2% | -3.05% |
| 2022 | -2.83% | 0.67% |
| 2023 | -3.82% | 2.73% |
| 2024 | -4.11% | 1.41% |
| 2025 | -5.47% | 0.95% |
Inflation comparison by year
Over the past 29 years, Iran has recorded an average annual inflation rate of 21.8%, compared with 10.7% in Mongolia. In 2024, inflation was 32.5% in Iran and 8.3% in Mongolia.
| Year | Inflation | ||
|---|---|---|---|
|
Iran
|
Mongolia
|
Iran
|
Mongolia
|
| 1996 | 28.9% | 46.8% | |
| 1997 | 17.3% | 30% | |
| 1998 | 17.9% | 9.5% | |
| 1999 | 20.1% | 7.6% | |
| 2000 | 14.5% | 11.3% | |
| 2001 | 11.3% | 6.4% | |
| 2002 | 14.3% | 0.9% | |
| 2003 | 16.5% | 5.2% | |
| 2004 | 14.8% | 8.3% | |
| 2005 | 13.4% | 12.6% | |
| 2006 | 10% | 4.4% | |
| 2007 | 17.3% | 9.6% | |
| 2008 | 25.4% | 28% | |
| 2009 | 13.6% | 7.6% | |
| 2010 | 10.1% | 8.3% | |
| 2011 | 26.3% | 8.8% | |
| 2012 | 27.3% | 13.8% | |
| 2013 | 36.6% | 10.6% | |
| 2014 | 16.6% | 12.9% | |
| 2015 | 12.5% | 6.8% | |
| 2016 | 7.25% | 0.8% | |
| 2017 | 8.04% | 4.3% | |
| 2018 | 18% | 6.8% | |
| 2019 | 39.9% | 7.3% | |
| 2020 | 30.6% | 3.7% | |
| 2021 | 43.4% | 7.4% | |
| 2022 | 43.5% | 15.1% | |
| 2023 | 44.6% | 10.4% | |
| 2024 | 32.5% | 6.2% | |
| 2025 | - | 8.3% | |
Top exports between countries
|
Iran
|
|
|---|---|
| Export category | Export value |
| Animal & marine products | $275K |
| Textiles & consumer goods | $275K |
| Processed food, beverages & tobacco | $86K |
| Miscellaneous | $33K |
| Raw agricultural goods | $23K |
| Wood & paper products | $8K |
| Chemicals & pharma | $5K |
| Metals | $4K |
| Raw materials & minerals | $1K |
|
Mongolia
|
|
|---|---|
| Export category | Export value |
| Animal & marine products | $79.6M |
| Processed food, beverages & tobacco | $280K |
| Textiles & consumer goods | $150K |
Balance of trade
|
Iran
|
Mongolia
|
|
|---|---|---|
Current account balance
|
$12.5B
2000 |
-$2.49B
2024 |
| Current account balance ranking |
23/189
2000 |
147/189
2024 |
| Current account balance, % of GDP |
+11.4%
2000 |
-10.5%
2024 |
| Goods imports |
$15.2B
2000 |
$11.7B
2024 |
| Goods exports |
$28.3B
2000 |
$14.7B
2024 |
| Service imports |
$2.3B
2000 |
$4.92B
2024 |
| Service exports |
$1.38B
2000 |
$1.6B
2024 |
| Imports of goods and services, % of GDP |
26.8%
2024 |
69.8%
2024 |
| Exports of goods and services, % of GDP |
22.9%
2024 |
69.1%
2024 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Iran
|
Mongolia
|
|
|---|---|---|
| Economic freedom | 42.5 | 62.6 |
| Economic freedom ranking | 185/197 | 82/197 |
| Property rights | 23.3 | 49.7 |
| Government integrity | 16.3 | 35.5 |
| Judicial effectiveness | 18.6 | 55.4 |
| Tax burden | 81.3 | 85.7 |
| Government spending | 94 | 72.6 |
| Fiscal health | 84.1 | 73.5 |
| Business freedom | 38.4 | 67.9 |
| Labor freedom | 43.6 | 68.1 |
| Monetary freedom | 39 | 68.8 |
| Trade freedom | 55.8 | 74.4 |
| Investment freedom | 5 | 50 |
| Financial freedom | 10 | 50 |
Economic freedom by year comparison
The Economic Freedom Index for Iran is 42.5, ranking 185/197, compared to 62.6 for Mongolia, ranking 82/197. The chart below displays a comparison of annual changes in economic freedom indexes.
| Year | Economic freedom index | |
|---|---|---|
|
Iran
|
Mongolia
|
|
| 1995 | - | 47.8 |
| 1996 | 36.1 | 47.4 |
| 1997 | 34.5 | 52.9 |
| 1998 | 36 | 57.3 |
| 1999 | 36.8 | 58.6 |
| 2000 | 36.1 | 58.5 |
| 2001 | 35.9 | 56 |
| 2002 | 36.4 | 56.7 |
| 2003 | 43.2 | 57.7 |
| 2004 | 42.8 | 56.5 |
| 2005 | 50.5 | 59.7 |
| 2006 | 45 | 62.4 |
| 2007 | 45 | 60.3 |
| 2008 | 45 | 63.6 |
| 2009 | 44.6 | 62.8 |
| 2010 | 43.4 | 60 |
| 2011 | 42.1 | 59.5 |
| 2012 | 42.3 | 61.5 |
| 2013 | 43.2 | 61.7 |
| 2014 | 40.3 | 58.9 |
| 2015 | 41.8 | 59.2 |
| 2016 | 43.5 | 59.4 |
| 2017 | 50.5 | 54.8 |
| 2018 | 50.9 | 55.7 |
| 2019 | 51.1 | 55.4 |
| 2020 | 49.2 | 55.9 |
| 2021 | 47.2 | 62.4 |
| 2022 | 42.4 | 63.9 |
| 2023 | 42.2 | 61.7 |
| 2024 | 41.2 | 60.6 |
| 2025 | 42.5 | 62.6 |
More economic indicators
|
Iran
|
Mongolia
|
|
|---|---|---|
| Services, % of GDP |
47.9%
2024 |
44.2%
2024 |
| Industry, % of GDP |
36.4%
2024 |
38.1%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
13%
2024 |
7.38%
2024 |
|
GNI, Atlas method
|
$426B
2024 |
$18.9B
2024 |
| GNI per capita, PPP |
$18,420
2024 |
$16,930
2024 |
| Total reserves including gold |
$7.69B
1982 |
$5.51B
2024 |
| Total reserves ranking |
85/177
1982 |
95/177
2024 |
|
Net foreign direct investment
|
-$39M
2000 |
-$2.73B
2024 |
|
Net inflows of foreign direct investment
|
$1.45B
2024 |
$2.78B
2024 |
|
Net outflows of foreign direct investment
|
$89.4M
2024 |
$55.5M
2024 |
|
Servicing debt to the IMF, % of GNI
|
0.09%
2023 |
26.8%
2023 |
| Poverty at national poverty lines |
18.7%
2020 |
27.1%
2022 |
|
Gross capital formation, % of GDP
|
40%
2024 |
34.6%
2024 |
GDP per capita map
GDP per capita
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Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.