Iran's GDP drops over 10% amid war

Iran's economy experienced a significant decline during the first quarter of the year according to the Persian calendar, with GDP contracting by 10.1% year-on-year. This downturn was largely due to the impact of the bombing the country faced from Israel and the United States. Iran's economy is heavily reliant on oil exports, and it was directly affected by the repercussions of these events, leading to a noticeable deterioration in economic performance during that period.

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