Iran's petrochemical exports touch $838mn in 4 months

08 Aug '14

2 min read

The exports of petrochemical products from Iran earned US$ 838 million in the first four months of the current Iranian calendar year that began on March 21, 2014, according to an IRNA report.

During the four-month period, Iran exported 831,000 tons of petrochemical products, which mainly included propane and butane, followed by styrene, paraxylene, benzene, polyethylene, PET and other petrochemicals.

According to the data, Iran’s petrochemical exports increased by about five percent year-on-year during the four-month period.

In the last calendar year, Iran’s petrochemical exports increased by about one percent year-on-year to US$ 10.723 billion. Asian, African and Eastern European countries were the main buyers of Iran’s petrochemical products.

In the current Iranian calendar year, Iran’s petrochemical exports are likely to touch $12 billion.

At present, over 70 petrochemical projects are under construction in Iran, of which, around 12 to 15 projects are likely to come on stream within the next four years. Once operational, these projects are estimated to raise Iran’s petrochemical output by 10 million tons and bring $26 million in foreign exchange for the country.

Iran has the world’s largest natural gas reserves and the third-largest proven oil reserves. The country is now aiming to become the largest petrochemical producer in the Middle East region, and it has significantly expanded the range and volume of its petrochemical production over the past few years.

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