Iran's manufacturing sectors plunge into recession amid economic depression, U.S. sanctions

0 Comment(s)Print E-mail Xinhua, February 21, 2019
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TEHRAN, Feb. 20 (Xinhua) -- Iran's manufacturing sectors have been hit amid the economic depression and U.S. sanctions, Eghtesdad Online news website reported Wednesday.

"Up to 30 percent of industrial towns' manufacturing enterprises are operating at less than half their full capacity," Mohsen Salehinia, deputy Minister of Industry, Mine and Trade, was quoted as saying.

The 43,000 manufacturing units, based in 973 industrial towns, generate 45 percent of Iran's total employment, according to Salehinia.

Depressed demand and the impacts of the re-imposed U.S. sanctions against Iran are cited as the main causes of the weakening performance of manufacturing units in Iran, the report said. Enditem

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