FEDERATION OF EURO-ASIAN STOCK EXCHANGES
ANNUAL REPORT JUNE 2013
TEHRAN STOCK EXCHANGE
CAPITAL MARKET DEVELOPMENT
AND ECONOMIC OUTLOOK
In 2012, the second phase of Iran’s Targeted
Subsidy Program was not implemented, due to
the considerable increasing in national liquidity
and inflation rate through the first phase.
Following this, reforming subsidies on energy
carriers was postponed.
Gross Domestic Product (GDP) by the current
price has been $ 496 billion during 2012 with an
annual growth of 0.4%. Additionally, the inflation
rate in October 2012 was 24.9% comparing the
same month of the last year.
According to the Iranian Central Bank (CBI)
report on 27 October, growth of Monetary Base
from 23/7/2011 to 22/7/2012 has been 24%;
while it was 10.5% in the same period of the last
year (23/7/2010 - 23/7/2011).
During this period, the liquidity growth has also
been 25.5% compared to 21.5% for the same
time in the last year.
Liquidity was IRR 392 trillion at the end of July
2012 which has increased by IRR 40,400 billion
in about four months.
Reviewing the changes in the Mandatory Base
components during a 50-month period, ended
to 20 August 2012, indicates that rising of the
banks’ debt to the Central Bank (Central Bank’s
receivables from banks) is the most important
item in growth of the index during the period.
As the CBI’s report (27 Oct. 2012) shows, the
banks’ debt has grown 10.8% during the period,
from 20 March to 22 August 2012.
The other effective factor on the Mandatory
Base growth is the increasing of the
government’s debt to the Central Bank.
Besides, according to the Central Bank’s report
on 27 November 2012, Iran’s export in the first
3-month of the last Persian year (20 March to
20 June 2011), has been $38,751 million, and
in the same time in 2012, it has been $25,918
million, which shows a 33.1% decline.
Iran’s Import in the same time has been $17,816
million in 2011 and $16,043 million in 2012,
which shows a 10% drop.
(1 US$= IRR 12,260, December 2012 - http://cbi.ir)
ECONOMIC CHARTS AND TABLES
Real GDP Growth (Annual Change;%)
Consumer Price Inflation (Year Average;%)
Current Account Balance (% of GDP)
Real GDP Growth (Annual Change;%)
Oil and Non-Oil Real GDP Growth (Annual Change;%)
Current Oil Production and Exports (Million barrels day)
Consumer Price Inflation (Year Average;%)
General Government Fiscal Balance (% of GDP)
General Government Non-Oil Fiscal Balance (% of Non-Oil GDP)
General Government Non-Oil Revenue (% of Non-Oil GDP)
Exports of Goods and Services (Billion U.S Dollars)
Imports of Goods and Services (Billion U.S Dollars)
Current Account Balance (Billion U.S dollars)
Current Account Balance (% of GDP)
Gross Official Reserves (Billion U.S dollars)
Average
2000-05 2006 2007 2008 2009 2010 Estimation
2011
2012
5.5
13.5
5.1
5.5
5.9
3.7
13.5
2.9
-17.8
10.1
41.4
35.4
605
5.1
25.9 5.8
11.9
9.3
5.8
6.2
4
11.9
2.3
-25.3
12.4
82.3
62.1
20.6
9.3
60.5 10.8
18.4
10.5
10.8
11.4
4.1
18.4
7.4
-18.1
12.8
105.2
73.9
32.6
10.5
82.9 0.6
25.4
6.5
0.6
0.9
3.9
25.4
0.7
-26.1
14.1
109.9
88.4
22.9
6.5
79.6 3.5
10.8
3
3.5
4.3
3.6
10.8
1
-15.2
12.5
95.6
85
10.9
3
78 3.2
12.4
6
3.2
3.6
3.6
12.4
1.7
-16.5
10.8
116.5
92.4
24.4
6
78.9 2.5
22.5
7.8
2.5
2.6
3.6
22.5
2.4
-16.8
12.1
137.1
100.3
36.9
7.8
104.6
3.4
12.5
7.1
3.4
3.5
3.7
12.5
1
-16.1
11.9
140.8
105.1
35.2
7.1
138.7
Source: IMF, Regional Economic Outlook, Middle East and Central Asia, October 2011
Key Information Contacts
Tehran Stock Exchange Corporation www.iranbourse.com
Securities and Exchange Organization www.seo.ir
Iranian Privatization Organization www.en.ipo.ir
TSE’s Technology Management Company http://english.tsetmc.com
Central Bank of the Islamic Republic of Iran www.cbi.ir
Iranian Chamber of Commerce, Industries and Mines (ICCIM) www.iccim.com
Organization for Investment, Economic & technical Assistance (OIETAI) a division of the Ministry of Finance www.investiniran.ir
Iran Farabourse www.irfarabourse.com
Central Securities Depository of Iran (CSDI) www.csdieng.com
Iran Mercantile Exchange http://ime.co.ir
CONTACT INFORMATION
Contact Name Mr. Amir Yousefianpour
PAGE 88
E-mail [email protected]
Website www.iranbourse.com