who are iran's major trading partners?
Madagascar
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 Total import volume rose by 189 % from $ 13 @.@ 7 billion in 2000 to $ 39 @.@ 7 billion in 2005 and $ 55 @.@ 189 billion in 2009 . Iran 's major commercial partners are China , India , Germany , South Korea , Japan , France , Russia and Italy . From 1950 until 1978 , the United States was Iran 's foremost economic and military partner , playing a major role in infrastructure and industry modernization . It is reported that around 80 % of machinery and equipment in Iran is of German origin . 

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 Most of the country 's exports are oil and gas , accounting for a majority of government revenue in 2010 . Oil export revenues enabled Iran to amass well over $ 100 billion in foreign exchange reserves as of 2010 . Iran ranked first in scientific growth in the world in 2011 and has one of the fastest development in telecommunication globally . 

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 Unfavorable or complex operating requirements and international sanctions have hindered foreign investment in the country , despite liberalization of relevant regulations in the early 2000s . Iran absorbed $ 24 @.@ 3 billion of foreign investment between the Iranian calendar years 1993 and 2007 . The EIU estimates that Iran 's net FDI will rise by 100 % between 2010 and 2014 . 

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 It is the world 's eighteenth largest by purchasing power parity ( PPP ) and twenty @-@ nine by nominal gross domestic product . The country is a member of Next Eleven because of its high development potential . A unique feature of Iran 's economy is the presence of large religious foundations called Bonyad , whose combined budgets represent more than 30 percent of central government spending . 

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 Since the mid @-@ 1990s , Iran has increased its economic cooperation with other developing countries in " south @-@ south integration " including Syria , India , China , South Africa , Cuba and Venezuela . Iran 's trade with India passed $ 13 billion in 2007 , an 80 % increase within a year . Iran is expanding its trade ties with Turkey and Pakistan and shares with its partners the common objective to create a common market in West and Central Asia through ECO . 
