Iran becomes world’s 21st largest economy in world: IMF

TEHRAN, Oct. 19 (MNA) – The International Monetary Fund (IMF) in its latest report introduced Iran as the 21st largest economic power in the world, announcing that 171 countries in the world have a smaller economy than Iran in 2022.

The IMF in its fresh report has predicted the gross domestic product (GDP) of 192 countries of the world including Islamic Republic of Iran.

The body expects Iran's GDP to reach $1,599 billion in the current year based on the Purchasing Power Index (PPI), the rate of which will increase by $150 billion as compared to last year.  

According to the IMF statistics, Iran is the 21st largest economic power in the world in 2022 with its economy of $1,599 billion in spite of tough economic sanctions imposed against the country.

Accordingly, Iran's economy is bigger than the economies of 171 other countries in the world, and only 20 countries will have a higher GDP than Iran this year.

Another IMF statistic indicated that Iran’s economy is twice as large as economies of Switzerland, Sweden, Austria and Ireland.

Iran used to be the 18th biggest economy in the world before the unprecedented sanctions imposed by the US in 2018. While the sanctions were aimed at crippling the Iranian economy, is is recovering very quickly and its GDP is gettting bigger and bigger while the sanctions are still in place.

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