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→Economy
*Industry: Types—petroleum, petrochemicals, textiles, cement and building materials, food processing (particularly sugar refining and vegetable oil production), metal fabricating (particularly steel and copper), armaments.
*Industry: Types—petroleum, petrochemicals, textiles, cement and building materials, food processing (particularly sugar refining and vegetable oil production), metal fabricating (particularly steel and copper), armaments.
*Trade (2007 est.): Exports--$56.9 billion: petroleum 80%, chemical and petrochemical products, carpets, fruits, nuts. Major export partners (2006): Japan (17.3%), China (11.4%), Italy (6.2%), South Korea (5.2%), South Africa (5.5%), Turkey (5.7%), Netherlands (4.6%), France (4.1%), Taiwan (4.1%). Imports--$48.1 billion: industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services, military supplies. Major import partners: Germany (14.2%), U.A.E. (6.7%), China (8.3%), Italy (7.5%), France (6.2%), South Korea (5.4%), Russia (4.9%).
*Trade (2007 est.): Exports--$56.9 billion: petroleum 80%, chemical and petrochemical products, carpets, fruits, nuts. Major export partners (2006): Japan (17.3%), China (11.4%), Italy (6.2%), South Korea (5.2%), South Africa (5.5%), Turkey (5.7%), Netherlands (4.6%), France (4.1%), Taiwan (4.1%). Imports--$48.1 billion: industrial raw materials and intermediate goods, capital goods, foodstuffs and other consumer goods, technical services, military supplies. Major import partners: Germany (14.2%), U.A.E. (6.7%), China (8.3%), Italy (7.5%), France (6.2%), South Korea (5.4%), Russia (4.9%).
===Oil production and reserves===
About 70% of Iran's crude oil fields are located onshore, with the remainder mostly situated offshore in the Persian Gulf. The Islamic Republic also holds proved oil reserves in the Caspian Sea, where exploration has been at a standstill.
Iran’s oil reserves are the world’s third-largest (after Saudi Arabia and Venezuela) amounting to a whopping 208,6 billion barrels, which is tantamount to 12% of total global reserves.
The Islamic Republic’s oil production capacity currently stands at about 3.2 million barrels of crude per day (bpd), which makes Tehran the third-largest producer in the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia and Iraq. The Iranian government earlier this year made it clear it has a plan to boost oil production to 4 million barrels per day in the near future.
The production is spread across 10 main locations, including the biggest refineries such as Persian Gulf Star refinery (450,000 bpd), Isfahan plant (370,000 bpd), the Abadan refinery (360,000 bpd), the Bandar Abbas site and (320,000 bpd) and the Kharg Oil Terminal, which is capable of containing up to 28 million barrels of crude.
In the first five months of 2024, Iran reportedly exported 1.65 million bpd, a significant increase as compared to 1.194 bpd exported in 2023 within the same period.
==Law==
==Law==