Iran: Key Economic Indicators 3Q 2016 to 1Q 2017

Transcription

1. No . 86 Third Quarter 1395 (2016/17) Key Economic Indicators Real Sector National Accounts Energy Manufacturing Construction Price Trends External Sector Balance of Payments External Debt Foreign Trade Exchange Rate Financial Sector Deposit and Lending Rates Monetary and Credit Aggregates Tehran Stock Exchange Activities Fiscal Sector Government Budget Appendix Monetary and Credit Policy
2. Central Bank of the Islamic Republic of Iran Prepared by : Economic Research and Policy Department Publisher: Public Relations Department P.O. Box: 15875/7177 TEHRAN – IRAN Telex: (98)(21) 213965-8 Tel.: (98)(21) 29951 Email: g.secdept@cbi.ir Website: http://www.cbi.ir SYMBOLS __ Negligible fraction. .. Figures not available.  Figures are provisional.  More than 500 percent increase. ▲ Figures are revised.  The figure is not a significant decimal fraction.  Calculation (of percentage change) is not possible. Published in: June 2017
3. In the Name of God , The Compassionate, The Merciful
4. Key Economic Indicators External Sector (million US$) (Nine months, 1395) Population and Labor Force (1395) Population 79.9 million Current Account Balance 11,915 Urban 59.2 million Trade Balance (goods account) 16,036 1 20.7 million Exports (FOB) 60,292 Population Growth 1.2 percent Imports (FOB) 44,256 Population Density 48.5 per sq km Total External Debt (end of period) 7,840 Active Population (1395, Q3) 25.5 million Exchange Rate (US$/IRR) Unemployment Rate (1395, Q3) 12.3 percent Rural Rls. 31,066 Urban 13.3 percent Rural 9.3 percent Male 10.4 percent Monetary Sector (growth rate, percent) Female 20.4 percent (Azar 1395 compared with Esfand 1394) 15-29 years old 26.4 percent Liquidity (M2) 16.5 15-24 years old 30.4 percent Money (M1) 12.7 Quasi-money 17.1 Non-public Sector Deposits 17.5 Source: Statistical Center of Iran (SCI). 1 Interbank Market (average) Includes non-resident population. Real Sector (1395, Q3) GDP Growth (1390=100) Oil 15.7 percent Government Fiscal Position (trillion Rls.) (1395, Q3) Non-oil 4.6 percent Revenues 295.6 Expenses 449.2 Disposal of Non-financial Assets 177.9 Acquisition of Non-financial Assets 36.0 Net Lending / Borrowing 14.7 Performance of 1395, Q3 (current prices; trillion Rls.) GDP (at basic price) 3,104 Gross Fixed Capital Formation 539 Private Consumption Expenditures 1,625 Public Consumption Expenditures 382 Changes in Consumer Price Index (CPI) of Goods and Services (1390=100) Tehran Stock Exchange (1395, Q3) Tehran Stock Exchange Price Index (TEPIX) (end of period) 80,123.0 Twelve months ending Azar 1395 compared with same period previous year (inflation rate) 8.6 percent Azar 1395 compared with previous month 1.4 percent Azar 1395 compared with same month previous year 9.2 percent Value of Shares and Rights Traded Volume of Shares and Rights Traded Rls. 119.6 trillion 55.5 billion CBI Economic Trends 1395, Q3 1
5. National Accounts (at Current Prices) 1, 2 GDP at basic 3 price Non-oil GDP (trillion rials) Sectoral value-added Oil Agriculture Industries & mining 4 Manufacturing & mining Construction Services (Figures in parentheses indicate share percent) 1391 1392 1393  1394  7,284 6,279 1,005 559 2,177 1,140 672 3,732 (100.0) (86.2) (13.8) (7.7) (29.9) (15.6) (9.2) (51.2) 9,843 8,171 1,671 969 2,588 1,459 750 4,802 (100.0) (83.0) (17.0) (9.8) (26.3) (14.8) (7.6) (48.8) 11,260 9,725 1,535 1,127 3,029 1,681 851 5,748 (100.0) (86.4) (13.6) (10.0) (26.9) (14.9) (7.6) (51.0) 11,129 10,088 1,041 1,197 2,723 1,494 697 6,381 (100.0) (90.6) (9.4) (10.8) (24.5) (13.4) (6.3) (57.3) 3,191 2,750 441 555 808 434 239 1,428 (100.0) (86.2) (13.8) (17.4) (25.3) (13.6) (7.5) (44.8) 1393 : Q2 Q3 Q4 2,790 2,443 347 289 779 419 242 1,416 (100.0) (87.6) (12.4) (10.4) (27.9) (15.0) (8.7) (50.8) 2,519 2,272 247 39 742 421 195 1,549 (100.0) (90.2) (9.8) (1.5) (29.4) (16.7) (7.8) (61.5) 2,731 2,412 319 277 658 372 154 1,529 (100.0) (88.3) (11.7) (10.1) (24.1) (13.6) (5.6) (56.0) 3,107 2,836 272 592 733 393 197 1,563 (100.0) (91.3) (8.7) (19.1) (23.6) (12.6) (6.3) (50.3) 1394 : Q1 Q2 Q3 Q4 2,652 2,414 238 287 645 357 160 1,533 (100.0) (91.0) (9.0) (10.8) (24.3) (13.5) (6.0) (57.8) 2,639 2,427 212 41 686 372 187 1,756 (100.0) (92.0) (8.0) (1.5) (26.0) (14.1) (7.1) (66.5) 2,838 2,487 351 285 624 374 114 1,644 (100.0) (87.6) (12.4) (10.0) (22.0) (13.2) (4.0) (57.9) 1395 : Q1 Q2 Q3 3,492 3,121 370 627 764 407 205 1,797 (100.0) (89.4) (10.6) (18.0) (21.9) (11.6) (5.9) (51.5) 3,104 2,702 402 311 680 416 125 1,775 (100.0) (87.1) (12.9) (10.0) (21.9) (13.4) (4.0) (57.2) Source: Economic Accounts Department, CBI. 1 Figures are revised due to the change of base year from 1383 to 1390. 2 Quarterly data are not seasonally adjusted and are subject to revision. 3 Discrepancy in GDP and the total value-added of sectors is due to imputed bank service charges. 4 Discrepancy in total is due to value-added in "water, electricity and gas" sub-sector. 2 CBI Economic Trends 1395, Q3
6. National Accounts (at Constant 1390 Prices) 1, 2 GDP at basic price 3 Non-oil GDP (trillion rials) Sectoral value-added Oil Agriculture Industries & 4 mining Manufacturing & mining Construction Services (Figures in parentheses indicate percentage change over the previous year) 1391 1392 1393  1394  5,873 4,986 887 365 1,629 798 468 3,159 (-7.7) (0.4) (-36.5) (4.7) (-2.3) (-3.8) (-3.2) (1.5) 5,854 5,013 841 385 1,561 764 424 3,231 (-0.3) (0.5) (-5.1) (5.5) (-4.2) (-4.2) (-9.2) (2.3) 6,043 5,163 880 405 1,646 823 421 3,277 (3.2) (3.0) (4.5) (5.4) (5.4) (7.6) (-0.9) (1.4) 5,947 5,003 943 424 1,546 781 349 3,202 (-1.6) (-3.1) (7.2) (4.6) (-6.1) (-5.0) (-17.0) (-2.3) (Figures in parentheses indicate percentage change over respective period of the previous year) 1393 : Q2 Q3 Q4 1,639 1,420 219 200 435 209 117 826 (5.3) (4.6) (10.1) (4.0) (8.8) (6.5) (12.0) (2.7) 1,490 1,273 217 105 413 201 116 796 (4.6) (4.2) (7.1) (3.0) (7.2) (7.0) (8.8) (2.5) 1,435 1,216 219 13 409 211 96 835 (-1.6) (-0.8) (-5.8) (6.1) (0.5) (8.7) (-17.9) (-2.0) 1,465 1,236 229 97 373 189 80 806 (-1.0) (-1.5) (1.8) (11.3) (-4.2) (-6.5) (-11.9) (-1.7) 1,605 1,372 233 210 410 202 98 793 (-2.1) (-3.4) (6.4) (5.0) (-5.8) (-3.3) (-16.9) (-4.0) 1,409 1,186 223 102 369 189 79 757 (-5.4) (-6.8) (2.8) (-2.2) (-10.7) (-6.0) (-31.8) (-4.9) 1,469 1,210 259 15 395 202 92 846 (2.3) (-0.5) (18.0) (8.3) (-3.4) (-4.5) (-4.2) (1.3) 1,574 1,217 357 101 354 191 58 802 (7.4) (-1.5) (56.1) (3.5) (-4.9) (1.1) (-27.4) (-0.5) 1,796 1,410 386 219 422 209 96 811 (11.9) (2.8) (65.7) (4.1) (3.1) (3.9) (-2.0) (2.3) 1,629 1,241 389 107 378 211 59 799 (15.7) (4.6) (74.6) (5.0) (2.4) (11.3) (-25.4) (5.6) 1394 : Q1 Q2 Q3 Q4 1395 : Q1 Q2 Q3 Source: Economic Accounts Department, CBI. 1 Figures are revised due to the change of base year from 1383 to 1390. 2 Quarterly data are not seasonally adjusted and are subject to revision. 3 Discrepancy in GDP and the total value-added of sectors is due to imputed bank service charges. 4 Discrepancy in total is due to value-added in "water, electricity and gas" sub-sector. CBI Economic Trends 1395, Q3 3
7. National Accounts (at Current Prices) 1, 2 GDP at market price (trillion rials) Gross fixed capital formation Consumption expenditures Private Public Private Public Machin- Construcery tion Total Machin- Construcery tion Net exports Gross National national income savings (Figures in parentheses indicate share percent) 1391 1392 1393  1394  7,342 3,500 694 571 1,069 77 362 2,079 65 (100.0) (47.7) (9.5) (7.8) (14.6) (1.0) (4.9) (28.3) (0.9) 9,934 4,527 918 754 1,219 99 449 2,522 341 (100.0) (45.6) (9.2) (7.6) (12.3) (1.0) (4.5) (25.4) (3.4) 11,517 5,334 1,184 942 1,312 123 624 3,000 193 (100.0) (46.3) (10.3) (8.2) (11.4) (1.1) (5.4) (26.1) (1.7) 11,414 5,741 1,449 817 1,083 121 573 2,594 54 (100.0) (50.3) (12.7) (7.2) (9.5) (1.1) (5.0) (22.7) (0.5) .. 832 65 (25.7) (2.0) 839 77 (29.2) (2.7) 6,008 3,078 8,037 4,252 9,175 4,824 8,963 3,967 .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. (Figures in parentheses indicate share percent) 1393 : Q2 Q3 Q4 3,239 1,345 290 (100.0) (41.5) (9.0) 2,875 1,358 270 (100.0) (47.2) (9.4) 2,638 1,388 359 (100.0) (52.6) (13.6) 2,773 1,426 304 (100.0) (51.4) (11.0) 3,174 1,435 333 (100.0) (45.2) (10.5) 2,732 1,407 305 (100.0) (51.5) (11.2) .. .. .. .. .. .. .. .. .. .. .. 760 -67 (28.8) (-2.6) 529 59 (19.1) (2.1) 704 -26 (22.2) (-0.8) 613 90 (22.5) (3.3) 1394 : Q1 Q2 Q3 Q4 2,735 1,472 508 (100.0) (53.8) (18.6) 2,922 1,528 314 (100.0) (52.3) (10.7) 3,528 1,581 496 (100.0) (44.8) (14.0) .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 748 -69 (27.3) (-2.5) 458 113 (15.7) (3.9) 761 19 (21.6) (0.5) 1395 : Q1 Q2 Q3 3,206 1,625 382 (100.0) (50.7) (11.9) .. .. .. Source: Economic Accounts Department, CBI. 1 Figures are revised due to the change of base year from 1383 to 1390. 2 Quarterly data are not seasonally adjusted and are subject to revision. 4 CBI Economic Trends 1395, Q3 .. .. .. .. .. .. .. .. .. 539 48 (16.8) (1.5)
8. National Accounts (at Constant 1390 Prices) 1, 2 GDP at market price Gross fixed capital formation Consumption expenditures Private Public (trillion rials) Private Public Machin- Construcery tion Total Machin- Construcery tion Net exports National income Gross national savings 4,731 2,188 (Figures in parentheses indicate percentage change over the previous year) 1391 1392 1393  1394  5,920 2,714 587 358 730 48 251 1,387 (-7.4) (-2.2) (-4.7) (-33.1) (1.1) (-37.7) (-33.7) (-19.0) 5,909 2,664 592 324 675 43 238 1,279 (-0.2) (-1.9) (0.8) (-9.5) (-7.5) (-11.8) (-5.2) (-7.8) 6,181 2,718 616 357 668 47 307 1,379 (4.6) (2.0) (4.2) (10.1) (-0.9) (9.7) (29.2) (7.8) 6,099 2,623 646 298 586 44 285 1,213 (-1.3) (-3.5) (4.8) (-16.5) (-12.4) (-5.1) (-7.1) (-12.0) 335 (-14.6) 456 4,654 2,161 (-1.6) 573 4,632 2,195 (-0.5) 867 4,167 1,848 (-10.1) (Figures in parentheses indicate percentage change over respective period of the previous year) 1393 : Q2 Q3 Q4 1,663 698 154 (6.2) (2.6) (12.6) 1,534 675 137 (6.6) (4.1) (0.3) 1,501 671 176 (1.5) (-1.7) (-6.3) .. .. .. .. 384 135 .. .. 151 .. .. 147 .. .. 196 .. .. 199 .. .. 245 .. .. 226 .. .. 371 .. .. 353 .. .. 354 .. .. (28.4) .. .. .. .. 385 (19.6) .. .. .. .. 346 (-13.7) 1394 : Q1 Q2 Q3 Q4 1,487 666 142 (0.4) (-1.3) (-5.2) 1,639 663 149 (-1.4) (-5.1) (-3.1) 1,451 639 134 (-5.4) (-5.4) (-2.5) 1,522 656 222 (1.3) (-2.2) (26.0) .. .. .. .. 241 (-8.7) .. .. .. .. 332 (-13.5) .. .. .. .. 286 (-25.7) .. .. .. .. 354 (2.2) 1395 : Q1 Q2 Q3 1,620 667 140 (8.9) (0.2) (-1.3) 1,815 671 167 (10.7) (1.2) (12.2) 1,683 676 141 (16.0) (5.8) (5.4) .. .. .. .. 202 (-16.1) .. .. .. .. 350 (5.5) .. .. .. .. 230 (-19.5) Source: Economic Accounts Department, CBI. 1 Figures are revised due to the change of base year from 1383 to 1390. 2 Quarterly data are not seasonally adjusted and are subject to revision. CBI Economic Trends 1395, Q3 5
9. National Accounts 1 (trillion rials) Gross fixed capital formation in construction by economic sectors Total Agriculture Oil & gas (at current prices) 1391 1392 1393  1394  1392 1393  1394  Agriculture Oil & gas Industries & Services mining 43 26 61 1,301 648 36 24 241 348 (100.0) (3.0) (1.8) (4.2) (90.9) (100.0) (5.5) (3.7) (37.2) (53.6) 1,668 57 36 65 1,510 853 60 33 319 441 (100.0) (3.4) (2.2) (3.9) (90.5) (100.0) (7.0) (3.9) (37.3) (51.7) 1,936 62 32 61 1,781 1,065 82 28 413 543 (100.0) (3.2) (1.6) (3.1) (92.0) (100.0) (7.7) (2.6) (38.8) (51.0) 1,656 44 29 46 1,536 938 45 24 393 476 (100.0) (2.7) (1.7) (2.8) (92.8) (100.0) (4.8) (2.6) (41.9) (50.8) (Figures in parentheses indicate percentage change over the previous year) 981 30 16 42 892 406 25 13 144 225 (-10.8) (-43.3) (6.8) (-39.2) (-7.3) (-33.7) (-27.5) (21.8) (-35.9) (-34.5) 913 31 16 35 831 366 28 11 128 200 (-6.9) (3.1) (-1.2) (-17.9) (-6.9) (-9.8) (10.8) (-9.8) (-11.4) (-11.1) 976 31 14 30 901 403 30 8 146 220 (6.9) (0.2) (-13.9) (-13.3) (8.4) (10.0) (7.3) (-27.3) (14.1) (9.9) 871 22 11 24 814 342 15 7 128 192 (-10.7) (-27.9) (-16.6) (-22.0) (-9.7) (-15.2) (-49.5) (-18.0) (-12.0) (-12.6) Figures are revised due to the change of base year from 1383 to 1390. 6 Total 1,431 Source: Economic Accounts Department, CBI. 1 Services (Figures in parentheses indicate share percent) (at constant 1390 prices) 1391 Industries & mining Gross fixed capital formation in machinery by economic sectors CBI Economic Trends 1395, Q3
10. Energy Production of electricity Petroleum (billion kW/h) 1 (thousand barrels per day) Production Export 2 Steam Gas and combined cycle Hydroelectric, diesel, wind, and nuclear power plants Total 3 , 4 (Figures in parentheses indicate percentage change over the previous year) 1391 1392 1393 1394 3,732 1,900 92.0 143.5 14.7 250.2 (3.1) (-9.8) (-4.1) (9.1) (15.7) (4.2) 3,481 1,685 90.7 153.3 19.4 263.3 (-6.7) (-11.3) (-1.4) (6.8) (31.9) (5.3) 3,063 1,435 85.6 170.2 18.7 274.5 (-12.0) (-14.8) (-5.6) (11.0) (-3.5) (4.2) 3,231 1,574 87.0 176.4 17.4 280.7 (5.5) (9.7) (1.6) (3.6) (-7.1) (2.3) (Figures in parentheses indicate percentage change over the previous period) 1394: Q2 Q3 Q4 3,161 1,533 26.5 57.8 6.9 91.2 (2.2) (7.9) (20.7) (29.8) (57.2) (28.7) 3,299 1,561 20.2 38.6 2.6 61.4 (4.4) (1.8) (-23.9) (-33.1) (-63.1) (-32.7) 3,379 1,787 18.3 35.4 3.4 57.2 (2.4) (14.4) (-9.4) (-8.3) (34.2) (-6.9) 3,544 2,008 21.8 42.4 5.8 70.0 (4.9) (12.4) (19.3) (19.6) (67.8) (22.4) 3,639 2,157 26.4 60.5 7.5 94.5 (2.7) (7.4) (21.0) (42.8) (30.6) (35.0) 3,963 2,426 19.5 39.7 5.3 64.5 (8.9) (12.5) (-26.2) (-34.4) (-29.7) (-31.7) 1395 : Q1 Q2 Q3 Source: Ministry of Petroleum, Ministry of Energy. 1 Includes electricity generated by power plants affiliated to the Ministry of Energy, private sector, and large industries. 2 Includes crude oil exports and net exports of oil products. 3 Components may not sum to total because of rounding. 4 As of 1391, power generated by the nuclear power plants has been added to total power generated. CBI Economic Trends 1395, Q3 7
11. Manufacturing Production index of large manufacturing establishments 1 ▲ Establishment permits of manufacturing units 2 Number (1390=100) Investment Operation permits of manufacturing units 2 , 3 Number (trillion rials) Investment (trillion rials) (Figures in parentheses indicate percentage change over the previous year) 1391 1392 1393 1394  91.7 14,456 548.1 3,987 83.2 (-8.3) (-8.4) (-31.6) (-37.0) (-46.9) 88.7 17,249 1,104.2 4,168 148.6 (-3.3) (19.3) (101.5) (4.5) (78.6) 94.7 16,841 971.1 4,966 146.6 (6.8) (-2.4) (-12.1) (19.1) (-1.4) 92.0 14,844 1,160.7 4,838 175.0 (-2.9) (-11.9) (19.5) (-2.6) (19.4) (Figures in parentheses indicate percentage change over respective period of the previous year) 1394 : Q2 Q3 ▲ Q4 ▲ 94.4 3,720 245.3 1,200 35.4 (-1.6) (-10.1) (-30.3) (-1.3) (-18.3) 89.3 3,648 346.7 1,248 54.7 (-3.5) (-5.5) (52.9) (11.2) (79.7) 95.9 4,155 350.5 1,401 60.2 (-1.3) (-23.1) (163.9) (-6.3) (57.3) 89.9 3,111 298.0 1,094 81.9 (1.7) (-6.3) (36.6) (10.6) (230.6) 98.6 4,230 432.0 1,357 43.0 (4.4) (13.7) (76.1) (13.1) (21.3) 102.3 3,624 225.5 1,290 46.8 (14.6) (-0.7) (-35.0) (3.4) (-14.3) 1395 : Q1 Q2 Q3 1 Source: Economic Statistics Department, CBI - Includes manufacturing establishments with 100 employees or more. 2 Source: Ministry of Industry, Mine and Trade. 3 Data on operation permits include both the newly-established units and development of existing manufacturing units. 8 CBI Economic Trends 1395, Q3
12. Construction Number of construction permits issued in urban areas (thousand) Tehran Other large cities Other urban areas All urban areas Estimated floor space Construction indices (million square meters) 1 Tehran Other large cities Other urban areas (1390=100) All urban areas Const. services price index PPI of construction materials (Figures in parentheses indicate percentage change over the previous year) 1391 1392 1393 1394  25.7 50.6 110.6 186.8 32.0 39.1 45.4 116.6 133.9 147.5 (-22.8) (19.8) (-4.6) (-2.4) (-17.5) (31.9) (-13.1) (-3.5) (33.9) (47.5) 21.2 47.7 103.8 172.6 32.5 42.3 45.8 120.6 182.8 187.2 (-17.6) (-5.7) (-6.1) (-7.6) (1.5) (8.1) (0.8) (3.4) (36.5) (26.9) 10.2 30.5 76.6 117.2 16.4 24.2 31.6 72.1 219.2 194.9 (-52.0) (-36.1) (-26.2) (-32.1) (-49.7) (-42.8) (-31.0) (-40.2) (19.9) (4.1) 8.1 27.2 66.2 101.5 12.4 22.0 27.5 62.0 247.5 182.9 (-20.5) (-10.7) (-13.6) (-13.4) (-24.1) (-8.9) (-12.9) (-14.1) (12.9) (-6.2) (Figures in parentheses indicate percentage change over respective period of the previous year) 1394: Q2 Q3 ▲ Q4 ▲ 2.3 7.5 15.4 25.1 3.1 6.7 6.5 16.3 245.1 186.5 (-1.7) (-7.6) (-14.1) (-11.3) (-32.2) (4.7) (-21.6) (-15.4) (13.3) (-5.6) 1.7 5.1 13.2 20.0 2.8 3.9 5.4 12.2 250.8 182.8 (-9.2) (-12.3) (0.7) (-3.8) (1.4) (-15.0) (6.1) (-2.7) (11.7) (-7.2) 1.8 7.0 20.6 29.4 2.6 5.5 8.3 16.5 255.1 175.7 (-25.2) (-21.5) (-14.2) (-16.8) (-36.0) (-24.9) (-11.2) (-21.0) (10.8) (-7.7) 1.8 6.5 19.2 27.5 3.8 4.6 7.7 16.1 261.4 183.8 (-21.4) (-15.1) (12.6) (1.8) (-0.2) (-22.0) (5.3) (-5.4) (9.5) (-1.3) 2.4 6.2 18.8 27.4 3.5 4.7 7.4 15.6 268.1 185.7 (7.0) (-16.4) (22.0) (9.2) (10.8) (-29.6) (14.8) (-4.1) (9.4) (-0.4) 1.9 5.5 16.1 23.5 2.6 3.9 6.5 13.0 273.1 196.8 (11.8) (8.0) (22.1) (17.6) (-9.2) (-1.7) (20.0) (6.2) (8.9) (7.6) 1395 : Q1 Q2 Q3 Source: Economic Statistics Department, CBI. 1 Components may not sum to total because of rounding. CBI Economic Trends 1395, Q3 9
13. Construction (trillion rials) Private sector investment in new buildings in urban areas 1 by construction phases Newly-started Semi-finished Completed by geographical distribution Total Tehran Other large cities Other urban All urban areas areas (Figures in parentheses indicate percentage change over the previous year) 1391 2 1392 1393 1394 157.8 352.9 101.9 612.5 168.7 206.0 237.9 612.5 (26.4) (48.9) (198.8) (54.7) (102.6) (54.5) (32.7) (54.7) 181.7 406.0 166.5 754.2 183.0 305.6 265.6 754.2 (15.2) (15.0) (63.4) (23.1) (8.5) (48.3) (11.7) (23.1) 188.3 448.7 173.6 810.6 205.4 336.2 269.0 810.6 (3.6) (10.5) (4.2) (7.5) (12.3) (10.0) (1.3) (7.5) 155.1 394.5 151.9 701.4 178.9 280.6 241.9 701.4 (-17.6) (-12.1) (-12.5) (-13.5) (-12.9) (-16.5) (-10.1) (-13.5) (Figures in parentheses indicate percentage change over respective period of the previous year) 1394: Q2 Q3 Q4 41.8 103.7 47.0 192.5 48.7 83.3 60.5 192.5 (-4.2) (-11.2) (5.6) (-6.1) (-0.7) (0.2) (-16.9) (-6.1) 28.1 92.0 31.2 151.3 35.9 62.1 53.3 151.3 (-40.8) (-17.2) (-24.3) (-24.3) (-27.7) (-26.7) (-18.6) (-24.3) 37.9 91.6 30.1 159.7 42.6 62.8 54.2 159.7 (-9.6) (-12.7) (-36.3) (-17.8) (-15.4) (-25.6) (-8.6) (-17.8) 39.1 90.5 23.4 153.0 33.4 65.0 54.5 153.0 (-17.3) (-15.5) (-46.3) (-22.7) (-35.3) (-10.1) (-26.3) (-22.7) 50.7 91.7 29.7 172.2 37.0 66.6 68.7 172.2 (21.2) (-11.6) (-36.7) (-10.6) (-24.1) (-20.1) (13.5) (-10.6) 21.2 93.3 24.8 139.4 33.3 58.0 48.1 139.4 (-24.5) (1.5) (-20.5) (-7.9) (-7.3) (-6.6) (-9.7) (-7.9) 1395: Q1▲ Q2 ▲ Q3 Source: Economic Statistics Department, CBI. 1 Figures are at current prices and exclude the cost of land. 2 In 1391, due to statistical revisions, data related to private sector investment in new buildings in urban areas are not comparable with previous years. 10 CBI Economic Trends 1395, Q3
14. Price Trends (1390=100) Consumer price index (percentage change over previous period) Housing, Furnishings, water, household Food Clothing Miscellaneous General electricity, equipment Medical Transpor- Commu- Recreation Restaurants Tobacco Education & & goods & care tation nication & culture & hotels gas, & & routine index beverages footwear services other household fuels maintenance 1391 30.5 44.6 82.5 47.8 12.9 50.9 24.7 29.5 7.5 41.0 14.1 38.7 46.6 1392 34.7 41.7 46.6 48.5 20.1 52.9 38.4 34.3 7.1 35.1 12.6 39.2 50.6 1393 15.6 9.1 -6.1 18.5 16.7 10.6 31.7 24.0 10.8 22.0 12.8 18.8 15.9 1394 11.9 10.4 -3.1 10.4 12.3 5.7 23.8 11.1 3.6 14.9 16.4 16.2 11.1 (Figures in parentheses indicate percentage change over respective period of the previous year) 1394: Q2 Q3 Q4 1.2 -2.9 -0.7 1.2 2.9 1.1 7.7 3.8 4.3 0.8 1.1 2.9 1.6 (12.8) (12.6) (-4.5) (10.8) (12.5) (6.0) (24.6) (11.2) (2.0) (18.9) (11.0) (17.7) (11.1) 1.9 -0.3 0.7 3.3 3.4 0.8 3.1 0.2 2.3 1.6 18.6 2.4 2.5 (10.1) (6.3) (-1.7) (9.6) (11.7) (5.0) (21.6) (10.1) (5.4) (10.5) (21.5) (15.2) (10.6) 1.9 2.2 -0.5 1.4 2.1 1.1 1.7 1.0 -0.3 5.3 0.9 1.8 2.4 (8.9) (4.7) (-1.1) (8.3) (11.1) (4.6) (17.9) (9.5) (5.1) (9.7) (21.5) (13.1) (9.8) 2.1 3.3 7.7 1.0 1.5 1.3 2.2 1.7 -0.4 -0.3 0.7 2.6 2.5 (7.2) (2.2) (7.1) (7.0) (10.4) (4.3) (15.4) (6.8) (5.9) (7.5) (21.9) (10.0) (9.3) 2.9 2.7 3.7 1.2 2.1 1.1 9.3 2.9 0.2 2.1 0.8 2.2 2.6 (9.0) (8.1) (11.8) (7.0) (9.5) (4.3) (17.1) (5.8) (1.8) (8.9) (21.6) (9.2) (10.4) 1395: Q1 Q2 Q3 2.0 0.6 -0.5 2.6 3.0 1.6 3.3 1.8 0.5 2.7 8.6 2.0 1.7 (9.2) (9.1) (10.5) (6.3) (9.0) (5.2) (17.3) (7.6) (0.0) (10.0) (11.3) (8.8) (9.5) (Figures in parentheses indicate percentage change over respective month of the previous year) 1395: Tir Mordad Shahrivar Mehr Aban Azar 0.8 -0.2 -0.1 0.3 0.5 0.1 5.1 0.9 0.2 0.8 0.4 0.8 1.1 (8.1) (5.3) (11.6) (7.0) (9.9) (4.1) (15.9) (4.9) (6.7) (7.7) (21.6) (10.1) (10.2) 1.1 1.1 -0.1 0.5 1.1 0.4 3.0 1.0 0.2 0.6 0.1 0.9 0.8 (9.4) (9.5) (12.0) (7.0) (9.5) (4.5) (17.3) (5.8) (-0.7) (8.1) (21.5) (9.1) (10.9) 0.7 -0.2 0.0 0.5 1.1 0.5 1.7 0.9 0.2 3.3 0.4 0.5 0.7 (9.5) (9.5) (11.9) (6.9) (9.1) (4.5) (18.1) (6.8) (-0.1) (10.7) (21.7) (8.6) (10.2) 0.4 -0.4 -0.1 1.0 0.5 0.6 0.6 0.5 0.0 -0.6 7.8 0.8 0.3 (9.3) (9.5) (10.2) (6.3) (9.0) (4.9) (17.5) (7.4) (-0.3) (10.4) (11.3) (9.0) (9.9) 0.6 0.0 -0.4 1.3 1.3 0.5 0.5 0.3 0.3 0.6 0.5 0.4 0.5 (9.1) (8.9) (10.2) (6.1) (8.8) (5.2) (17.2) (7.7) (0.1) (11.1) (11.4) (8.7) (9.3) 1.4 2.4 0.0 0.7 1.5 0.7 0.6 0.4 0.2 1.5 0.3 0.6 0.7 (9.2) (9.0) (11.0) (6.5) (9.3) (5.6) (17.1) (7.6) (0.4) (8.5) (11.1) (8.8) (9.4) Source: Economic Statistics Department, CBI. CBI Economic Trends 1395, Q3 11
15. Price Trends (1390=100) Producer price index (percentage change over previous period) General index Agriculture, Manufacforestry Services 1 turing & fishing Other community, General index of social & Transport personal exportable Hotels & & CommuniHealth & services goods 2 restaurants storage cation Education social work activities 1391 32.4 39.3 37.4 20.1 33.0 20.3 3.8 14.5 26.6 28.9 124.1 1392 34.5 43.5 34.9 27.9 36.1 29.9 6.6 13.4 35.7 36.6 21.8 1393 14.8 13.7 9.9 25.7 20.8 25.8 16.8 13.8 35.4 25.7 -0.5 1394 4.9 5.7 -0.4 13.8 18.1 8.7 8.2 17.0 27.8 22.7 -16.0 (Figures in parentheses indicate percentage change over respective period of the previous year) 1394: Q2 Q3 Q4 1.7 -0.1 0.8 4.6 2.8 3.6 5.6 1.7 9.2 3.8 -5.5 (5.3) (7.3) (0.1) (13.2) (18.9) (8.2) (6.7) (12.2) (28.7) (25.4) (-15.4) 0.4 0.0 -1.9 4.2 2.2 2.7 2.9 17.3 3.3 2.7 -1.5 (4.0) (6.0) (-2.8) (14.7) (16.9) (10.3) (9.6) (21.5) (24.8) (20.2) (-16.9) -0.4 0.5 -1.5 0.6 1.8 0.0 0.1 1.1 1.7 3.8 -4.3 (3.2) (1.1) (-1.7) (13.0) (15.0) (9.0) (9.7) (21.5) (20.2) (18.8) (-17.5) 1395: Q1 Q2 Q3 1.0 -1.0 2.0 0.8 4.0 -0.1 1.5 1.0 1.8 3.2 -2.7 (2.7) (-0.7) (-0.6) (10.5) (11.2) (6.3) (10.3) (21.8) (16.8) (14.1) (-13.4) 2.0 2.2 0.9 3.6 2.7 1.9 0.6 1.2 10.1 2.7 1.7 (3.0) (1.7) (-0.5) (9.4) (11.1) (4.6) (5.2) (21.1) (17.8) (13.0) (-6.8) 2.6 1.6 3.0 2.5 1.9 1.2 0.3 8.4 3.4 2.3 4.3 (5.2) (3.3) (4.4) (7.6) (10.7) (3.0) (2.6) (11.9) (17.8) (12.5) (-1.3) (Figures in parentheses indicate percentage change over respective month of the previous year) 1395: Tir Mordad Shahrivar Mehr Aban Azar 0.9 2.0 -0.4 2.2 1.1 1.3 0.1 0.5 6.1 0.8 0.6 (2.7) (2.0) (-1.6) (10.2) (11.9) (6.0) (10.8) (21.1) (16.6) (12.8) (-7.3) 0.7 -0.3 0.7 1.3 0.8 0.9 0.3 0.2 3.3 0.8 2.0 (2.6) (1.5) (-1.3) (9.7) (10.9) (5.2) (2.7) (20.9) (17.9) (13.0) (-7.0) 0.7 0.2 0.8 0.8 0.6 0.5 0.1 0.5 2.0 0.9 -0.3 (3.6) (1.5) (1.4) (8.4) (10.4) (2.7) (2.5) (21.4) (18.8) (13.0) (-6.0) 0.5 0.4 0.1 1.1 0.8 0.3 0.1 7.2 0.6 1.0 -0.2 (3.9) (1.7) (2.4) (7.6) (10.7) (2.9) (2.5) (12.0) (18.0) (13.2) (-6.2) 0.9 0.9 1.4 0.3 0.3 0.1 0.1 0.9 0.4 0.4 1.9 (4.9) (3.2) (3.9) (7.6) (10.7) (3.0) (2.6) (12.1) (17.9) (12.2) (-2.0) 2.0 1.7 3.1 0.4 0.4 0.4 0.1 0.3 0.6 0.6 8.1 (6.8) (4.9) (7.1) (7.6) (10.9) (3.2) (2.6) (11.7) (17.7) (12.2) (4.4) Source: Economic Statistics Department, CBI. 1 Includes "hotels and restaurants", "transport and storage", "communication", "education", "health and social work", and "other community, social and personal services activities". 2 Compilation of the non-oil exportable goods price index is carried out based on the Iranian rial local price of goods and its parity to dollar at free market rate. In 1391, remarkable rise in this index was mainly due to sharp increase in the parity rate of the US dollar vis-à-vis the Iranian rial. 12 CBI Economic Trends 1395, Q3
16. Balance of Payments - Current Account (million dollars) Exports (FOB) Imports (FOB) Goods account (net) 3 Oil 1 Non-oil Total Gas & oil products 2 1391 68,083 29,213 97,296 2,652 66,082 68,734 28,563 1392 64,540 28,369 92,910 3,263 60,321 63,584 29,326 1393 55,406 33,569 88,976 2,597 68,318 70,915 18,060 1394  33,569 31,028 64,597 2,233 50,186 52,419 12,178 First six months 20,065 13,551 33,616 1,090 24,983 26,073 7,542 Nine months 27,093 23,291 50,384 1,711 36,872 38,583 11,801 Twelve months 33,569 31,028 64,597 2,233 50,186 52,419 12,178 First three months 11,640 7,264 18,905 301 12,081 12,383 6,522 First six months 24,807 13,337 38,144 624 26,872 27,495 10,649 Nine months 39,877 20,415 60,292 1,172 43,085 44,256 16,036 Other goods Total 1394 : 1395 : 1 Value of crude oil, oil products, natural gas, natural gas condensate and liquids (Tariff codes: 2709, 2710 and 2711) exported by National Iranian Oil Company (NIOC), National Iranian Gas Company (NIGC), National Iranian Oil Refining and Distribution Company (NIORDC), petrochemical companies, and others (customs and non-customs). 2 Value of oil products, natural gas, natural gas condensate and liquids (Tariff codes: 2710 and 2711) imported by NIOC, NIGC, NIORDC, and others (customs and non-customs). 3 Discrepancy between the figures of this column and the components is due to rounding. Balance of Payments - Current Account (Cont.) Services account 1 (million dollars) Income account 1 Credit Debit Net 2 Current account (net) 2 1,649 885 376 509 23,362 1,175 2,034 915 349 565 25,105 3,478 1,633 1,845 925 383 543 13,571 -4,472 2,326 1,562 763 948 401 547 9,016 7,517 -2,283 1,259 662 597 472 193 280 6,136 7,730 10,772 -3,042 1,778 993 786 710 303 408 9,953 9,982 14,454 -4,472 2,326 1,562 763 948 401 547 9,016 First three months 2,637 4,247 -1,610 579 380 198 249 128 121 5,231 First six months 5,389 8,183 -2,794 1,294 736 558 498 221 277 8,690 Nine months 7,581 12,802 -5,222 1,919 1,235 685 748 332 416 11,915 Export Import Net 2 Credit Debit 1391 8,483 15,843 -7,359 3,112 1,463 1392 9,374 16,194 -6,820 3,209 1393 10,572 17,450 -6,877 1394  9,982 14,454 First six months 5,234 Nine months Twelve months Current transfers account Net 2 1394 : 1395 : 1 Classification of services account and income account is based on the IMF Balance of Payments Manual, 5th edition. 2 Discrepancy between the figures of this column and the components is due to rounding. CBI Economic Trends 1395, Q3 13
17. Balance of Payments (Capital Account and Change in International Reserves) (million dollars) Capital account (net) Short-term Long-term Total Change in international reserves 1, 2 1391 -10,054 106 -9,948 12,213 1392 -12,355 3,033 -9,321 13,189 1393 -198 758 559 8,561 -3,816 1,303 -2,513 2,233 First six months -784 731 -52 1,562 Nine months 1,203 867 2,070 3,768 Twelve months -3,816 1,303 -2,513 2,233 -5,548 526 -5,022 -6,171 1394  1394 : 1395 : First three months First six months -11,472 637 -10,836 -7,644 Nine months -14,546 412 -14,134 -7,875 1 Includes changes in CBI foreign assets (excluding special and clearing accounts). 2 Excludes changes in foreign exchange rate. External Debt (End of period) 1 (million dollars) Short-term Medium- and long-term Total 1391 943 6,739 7,682 1392 777 5,878 6,655 1393 432 4,676 5,108 1394 2,019 5,456 7,476 First six months 441 5,035 5,476 Nine months 337 5,339 5,675 2,019 5,456 7,476 First three months 2,225 5,346 7,571 First six months 2,611 5,299 7,910 2,794 5,046 7,840 1394: Twelve months 1395: 2 Nine months External Debt Profile (End of Azar 1395) (million dollars) Maturity 1395 1396 1397 1398 1399 onwards Value 2,304 1,564 977 1,022 1,973 Source: External Debt Department, CBI. 1 Classification of external debt under the heading of short-term and medium- and long-term is based on original maturity. Moreover, interest on actual obligations on accrual basis is included in short-term debts. 2 Total external debt, including $2,471.3 million arrears, amounted to $10,311.5 million at the end of Azar 1395. 14 CBI Economic Trends 1395, Q3
18. Foreign Trade 1 Non-oil exports 2 Volume Value (thousand tons) (million US$) Imports (CIF) Average value per ton (US$) Volume Value (thousand tons) (million US$) Average value per ton (US$) (Figures in parentheses indicate percentage change over respective period of the previous year) 1391 1392 1393 1394  69,936 32,567 466 39,481 53,451 1,354 (5.3) (-3.7) (-8.5) (2.9) (-13.5) (-15.9) 81,103 31,552 389 33,684 49,709 1,476 (16.0) (-3.1) (-16.5) (-14.7) (-7.0) (9.0) 81,634 36,555 448 43,016 53,569 1,245 (0.7) (15.9) (15.1) (27.7) (7.8) (-15.6) 77,561 35,750 461 35,069 41,490 1,183 (-5.0) (-2.2) (2.9) (-18.5) (-22.5) (-5.0) 1394 : Q2 Q3 Q4 18,456 8,019 434 8,330 10,507 1,261 (-10.4) (-10.6) (-0.2) (-20.6) (-24.5) (-4.9) 19,370 10,327 533 8,506 9,316 1,095 (0.5) (10.8) (10.2) (-16.1) (-26.3) (-12.2) 20,270 8,955 442 9,365 11,322 1,209 (-5.7) (-11.1) (-5.7) (-24.5) (-23.1) (1.8) 23,595 8,781 372 7,263 9,001 1,239 (21.2) (3.9) (-14.3) (-18.1) (-13.0) (6.2) 22,465 7,489 333 8,525 11,307 1,326 (21.7) (-6.6) (-23.3) (2.3) (7.6) (5.2) 1395 : Q1 Q2 Q3 23,319 8,248 354 9,078 11,230 1,237 (20.4) (-20.1) (-33.7) (6.7) (20.6) (12.9) 1395 : Tir Mordad Shahrivar Mehr Aban Azar 7,452 2,655 356 2,695 3,864 1,434 (26.9) (4.9) (-17.3) (5.7) (10.2) (4.2) 7,571 2,462 325 3,208 3,844 1,198 (19.9) (-10.6) (-25.4) (21.2) (14.9) (-5.2) 7,442 2,372 319 2,622 3,599 1,372 (18.8) (-13.2) (-26.9) (-16.3) (-1.5) (17.8) 7,038 2,385 339 2,940 3,743 1,273 (1.9) (-14.4) (-16.0) (-1.2) (16.1) (17.5) 8,321 2,991 359 2,835 3,333 1,176 (14.2) (-42.9) (-50.0) (2.6) (9.6) (6.8) 7,960 2,871 361 3,303 4,155 1,258 (53.9) (24.7) (-19.0) (19.4) (36.3) (14.1) Source: Islamic Republic of Iran Customs Administration. 1 Discrepancy between the figures on this page and the corresponding figures on page 13 is due to the adjustments applied to customs figures (in terms of classification, coverage, and value) to calculate the "balance of payments" figures. 2 Excludes natural gas condensate and liquefied natural gas. CBI Economic Trends 1395, Q3 15
19. Exchange Rate (US$/IRR) Interbank market rate Foreign exchange transaction rate 2 Parallel market rate 12,260 21,253 26,509 29,580 24,752 24,738 – – 26,059 31,839 32,801 34,501 29,681 29,999 30,180 – – – 33,513 35,446 35,791 30,358 31,015 31,850 – – – 34,732 35,334 36,975 30,764 31,006 31,274 31,533 31,864 32,154 – – – – – – 35,042 35,377 35,571 35,915 36,424 38,633 (average reference rate/CBI rate) 1391 1392 1393 1394 1394: Q2 Q3 Q4 1395: Q1 Q2 Q3 1395: Tir Mordad Shahrivar Mehr Aban Azar 1 (average selling rate) 1 Source: International Department and Economic Statistics Department of CBI. As of Tir 12, 1392, reference rate was eliminated and the CBI 2 released foreign exchange rate on a daily basis. Available as of Mehr 4, 1391 until Tir 11, 1392 in Foreign Exchange Transactions Center. Deposit and Lending Rates (% per annum) Rate of return on facilities 1 Term investment deposit rates (provisional) Shortterm Special Oneshortyear term Twoyear Threeyear Fouryear Fiveyear Construction ManufacTrade, and housing turing & Housing Others Agriculture services and Exports 3 mining Savings miscellaneous Fund Public banks 4, 5 1392 (year-end) 6 1393 (year-end) 7 1394 (year-end) 8 1395 (end-Azar) 7-20 10-22.2 10-18 10 10-23 11-23 11-18 11-15 17-21.5 18-21.75 18.5-22 19-22.25 20-22.75 22-24 – – – – 18-20 – – – – 15 – – – – 14 , 15 22 (max.) 20 , 21 18 2 11 , 13 14 14 8-11 14 , 15 16 16 17.5 14 , 15 22 (max.) 20 , 21 15 , 18 Term investment deposit rates (provisional) Private banks & non-bank credit institutions 4, 5 1392 (year-end) 6 1393 (year-end) 7 1394 (year-end) 8 1395 (end-Azar) 1 14 , 15 22 (max.) 20 , 21 18 14 , 15 22 (max.) 20 , 21 18 Short-term Special short-term One-year Two-year Three-year Four-year Five-year Rate of return on facilities 1 7-22 7-22 7-22 7-20 7-23 10-23 10-22 8-20 17-23.5 17-22 17-22 15-22 17.5-23.75 – – – 18-24 – – – 19-24.5 – – – 20-25 – – – 14 , 15 22 (max.) 20 , 21 18 Rate of return on facilities extended for transaction (non-PLS) contracts. 2 Based on MCC Approval on Mehr 27, 1395, it includes Housing Savings Fund, First Time Home Buyers, Housing Construction, and Housing for the Youth Accounts. 3 Based on MCC Approval on Dey 19, 1391, profit rate of rial facilities for export sector was lowered by 2 percent compared to other sectors. The eligibility criterion for export facilities was the Letter of Guarantee by Exports Guarantee Fund. This Approval was communicated to public and private banks (excluding Gharz-al-hasaneh banks) and credit institutions under Circular No. 91/294711 dated Bahman 4, 1391. 4 Based on Monetary, Credit, and Supervisory Policies of Banking System approved on Dey 20, 1390, lending rate on facilities extended under non-PLS contracts was set at 14 percent for credits up to 2 years maturity and 15 percent for credits of longer term maturity. Lending rate on facilities extended for Islamic contracts under Mehr Housing Program was set at 11 percent for the construction period of new projects and 12 percent for installment sale after the completion of projects. Lending rate on facilities extended for installment sale contracts in the housing sector was set at 13 percent. Based on Article 2, the decision on annual provisional profit rate of term investment deposits and general and special Certificates of Deposit (CDs) would be taken on banks' discretion. 5 The rate of special one-year CDs of Bank Sepah and special two-year CDs of Karafarin Bank was set at 20 percent. 6 Based on Article 1, Monetary and Credit Policy for 1393, upon agreement between banks, credit institutions, and CBI on Ordibehesht 8, regarding the provisional banks' deposit rates, the MCC approved the rate for one-year deposits at a maximum of 22.0 percent. Based on Article 2, maximum lending rate on banking facilities extended under non-PLS contracts was set at 22.0 percent. Based on Note 1, lending rate on loans extended to the housing sector under Bank Maskan's installment sale contracts was set at 16.0 percent and under the Housing Savings Fund Program, 14.0 percent. According to Note 2, lending rate on facilities extended for Islamic contracts under Mehr Housing Program was set at 11.0 percent for the construction period of new projects and 12.0 percent for installment sale after the completion. 7 Based on MCC Approval on Ordibehesht 8, 1394, maximum lending rate on loans extended under non-PLS contracts was set at 21.0 percent and expected maximum profit rate of PLS contracts at the beginning of conclusion of contracts between banks and credit institutions and their clients was set at 24.0 percent. The ceiling on provisional profit rate of deposits was set at 20.0 percent, proportionate to the maturity of deposits (maximum maturity of one year). However, based on the Council's Approval on Bahman 27, maximum lending rate on loans extended under non-PLS contracts was set at 20.0 percent and expected maximum profit rate of PLS contracts, 22.0 percent. Banks' provisional deposit rate for one-year deposits was set at 18.0 percent at most and for short-term deposits of less than three months, 10.0 percent. 8 Based on the MCC Approval on Tir 8, 1395, lending rate on non-PLS contracts as well as PLS contracts was set at 18 percent. Lending rate on investment facilities extended by Bank Keshavarzi Iran was set at 15 percent and on other facilities, 18 percent. Banks' provisional deposit rate on one-year deposits was set at a maximum of 15 percent. 16 CBI Economic Trends 1395, Q3
20. Monetary and Credit Aggregates (End of the period) 1, 2 Monetary base Money (M1) Currency with the public (trillion rials) Sight deposits Non-sight deposits Total non-public (quasi–money) sector deposits Liquidity (M2) (Figures in parentheses indicate percentage change over the last month of the previous year) 1391 975.8 (27.6) 1,136.7 (26.6) 330.2 (25.4) 806.6 (27.1) 3,470.2 (31.2) 4,276.8 (30.4) 4,606.9 (30.0) 1392 1,184.9 (21.4) 1,196.0 (5.2) 334.1 (1.2) 861.9 (6.9) 5,199.5 (49.8) 6,061.4 (41.7) 6,395.5 (38.8) 1393 1,311.5 (10.7) 1,207.6 (1.0) 351.7 (5.3) 855.9 (-0.7) 6,616.3 (27.2) 7,472.2 (23.3) 7,823.8 (22.3) 1394 1,533.6 (16.9) 1,367.0 (13.2) 371.9 (5.7) 995.1 (16.3) 8,805.8 (33.1) 9,800.9 (31.2) 10,172.8 (30.0) (Figures in parentheses indicate percentage change over the last month of the previous year) 1394: Q2 1,375.0 (4.8) 1,180.2 (-2.3) 306.4 (-12.9) 873.8 (2.1) 7,547.3 (14.1) 8,421.1 (12.7) 8,727.5 (11.6) Q3 1,427.8 (8.9) 1,158.1 (-4.1) 301.2 (-14.4) 856.9 (0.1) 8,093.6 (22.3) 8,950.5 (19.8) 9,251.7 (18.3) Q4 1,533.6 (16.9) 1,367.0 (13.2) 371.9 (5.7) 995.1 (16.3) 8,805.8 (33.1) 9,800.9 (31.2) 10,172.8 (30.0) Q1 1,585.2 (3.4) 1,364.4 (-0.2) 311.6 (-16.2) 1,052.8 (5.8) 9,230.6 (4.8) 10,283.4 (4.9) 10,595.0 (4.2) Q2 1,655.1 (7.9) 1,480.3 (8.3) 329.2 (-11.5) 1,151.1 (15.7) 9,746.8 (10.7) 10,897.9 (11.2) 11,227.1 (10.4) Q3 1,704.7 (11.2) 1,540.7 (12.7) 327.7 (-11.9) 1,213.0 (21.9) 10,307.9 (17.1) 11,520.9 (17.5) 11,848.6 (16.5) 1395: (Figures in parentheses indicate percentage change over respective month of the previous year) 1395: Tir 1,598.7 (20.3) 1,394.5 (24.2) 324.9 (6.0) 1,069.6 (31.1) 9,424.3 (30.9) 10,493.9 (30.9) 10,818.8 (30.0) Mordad 1,603.5 (17.9) 1,474.9 (29.7) 323.4 (6.1) 1,151.5 (38.4) 9,517.1 (29.1) 10,668.6 (30.1) 10,992.0 (29.2) Shahrivar 1,655.1 (20.4) 1,480.3 (25.4) 329.2 (7.4) 1,151.1 (31.7) 9,746.8 (29.1) 10,897.9 (29.4) 11,227.1 (28.6) Mehr 1,659.8 (18.3) 1,450.0 (25.9) 326.5 (7.5) 1,123.5 (32.4) 9,929.9 (28.7) 11,053.4 (29.0) 11,379.9 (28.3) Aban 1,691.3 (18.0) 1,497.2 (27.6) 333.6 (10.4) 1,163.6 (33.6) 10,121.0 (28.1) 11,284.6 (28.7) 11,618.2 (28.0) Azar 1,704.7 (19.4) 1,540.7 (33.0) 327.7 (8.8) 1,213.0 (41.6) 10,307.9 (27.4) 11,520.9 (28.7) 11,848.6 (28.1) 1 Excludes commercial banks' branches abroad. 2 In 1392, the data related to the six banks of "Iran Zamin Bank", "Resalat Gharz-al-hasaneh Bank", "Middle East Bank", "Kish International Free Zone Bank (IFB)", "Iran-Venezuela Bi-National Bank (IVBB)", and "Ghavamin Bank" as well as two non-bank credit institutions of "Kosar Finance and Credit Institution" and "Askariye Credit Institution" were added to money and banking data. Moreover, consolidated financial statements of "Salehin Finance and Credit Institutions" and "Pishgaman Finance and Credit Institution (Ati)" have been included in the financial statement of "Ayandeh Bank". The addition of these newly covered banks and credit institutions has taken place in two phases for which Economic Trends Nos. 74-78 include only the first phase of data coverage. Given that the end-Esfand 1392 covers all newly licensed institutions and that the banking data from Farvardin to Bahman 1393 were also adjusted to be comparable with base 1392 data, hence the published data in Economic Trends Nos. 74, 75, 76, 77, and 78 (Q3 and Q4, 1392 and Q1, Q2, and Q3, 1393) for Esfand 1392 to Bahman 1393 were adjusted to be consistent with regard to institutions under coverage. Economic Trends Nos. 79-86 include the revised figures. Accordingly, percentage changes related to months Esfand 1392 through Bahman 1393 are not comparable with previous years. Contents of this footnote apply to all monetary and credit aggregates mentioned in pages 18 through 20. CBI Economic Trends 1395, Q3 17