According to Xinhua News Agency, Iran's economy has shrunk by about 10% since mid-February when the U.S. launched its attacks.
Data released by the Iranian Statistics Center on September 20 showed that from late March to late June (the first quarter of the Persian calendar), the country's Gross Domestic Product (GDP) decreased by 10.1% year-on-year.
Since late February, Iran has been in a state of war with the United States. At that time, air strikes by the United States and Israel led to the death of Iran's supreme leader and several senior military officials, marking the beginning of a large-scale offensive.
These attacks led to Iran’s retaliatory actions against the Strait of Hormuz. Subsequently, global oil prices soared, and the conflict spread to the Middle East.
Apart from the war-related factors, Iran's economy has been affected by long-term sanctions imposed by the United States, and it has been plagued by hyperinflation and currency devaluation.
