In a meeting with Supreme LeaderAyatollah Ali Khamenei on Monday, Hosseini said that the prospect of the national economy is promising and hopeful despite the intensified international sanctions, according to ISNA.
The International Monetary Fund has said that Iran's GDP at current US$ stood at $482 billion in 2010, standing at the 25 place in the world. Iran is at the 79th place in terms of per GPD per capita.
The World Bank also estimated that Iran's GDP in 2011 was $514.059 billion.
Considering that Iran faced 1.9 percent economic contraction in 2012 and the national currency devalued by 40 percent during that year, the GDP has even decreased below $482 billion at current US$.
The GDP at current US$ is estimated by converting the rial-based GDP into US dollar using single year official exchange rate.
There is another way to calculate the GDP based on standards of living and general index of prices and is called the GDP at purchasing power parity (PPP). This method of calculation is solely used to compare countries for their share in the global production. Tehran, YJC. -- Iranian finance and economic affairs minister Shamseddin Hosseini has said that the country's gross domestic product (GDP) is on the verge of $1 trillion, and that the country's national economy stands at 17th place in the world....