Iran has a diverse and mixed economy that is considered to be the second-largest in the Middle East and North Africa region. The country’s economy is characterized by a combination of traditional sectors, such as agriculture and handicrafts, alongside modern industries and a significant presence in the oil and gas sector.

Iran is known for its vast oil reserves, which have played a crucial role in shaping its economy. The country is one of the world’s leading oil producers and exporters, with oil revenue traditionally being a major source of income. However, in recent years, Iran has been working to diversify its economy and reduce its dependence on oil.

Apart from the oil and gas sector, Iran has a strong manufacturing base, including industries such as automotive, petrochemicals, steel, textiles, and food processing. The country is also known for its rich mineral resources, including significant deposits of copper, zinc, lead, and iron ore.

Agriculture is another important sector of Iran’s economy, employing a significant portion of the population. The country is self-sufficient in several agricultural products and is a major producer of wheat, rice, fruits, vegetables, and dairy products. Iran’s geographical diversity allows for a wide range of agricultural activities, including farming, horticulture, and animal husbandry.

In recent years, Iran has faced economic challenges due to various factors, including international sanctions, political uncertainties, and fluctuations in oil prices. However, the government has implemented economic reforms and diversification strategies to enhance private sector participation, attract foreign investment, and promote non-oil industries.

Overall, Iran’s economy reflects a mix of traditional and modern sectors, with efforts focused on expanding non-oil industries, boosting exports, and attracting foreign investment. The country’s economic potential, vast resources, and strategic location make it an important player in the region’s economy.