Iran earns $8bn from petrochemical exports in nine months

01 Jan '14

1 min read

Iran earned US$ 8.116 billion from exports of petrochemical products in the first nine months of the current Iranian calendar year, which began on March 21, 2013, according to the data released by the Iran Customs Administration (IRICA).

The exports of methanol fetched US$ 877 million for Iran during the nine-month period, according to the report of public relations office of IRICA.

Petrochemical products accounted for over 25 percent of Iran’s total export earnings of US$ 29.241 billion.

In the previous calendar year ending March 20, 2013, Iran exported petrochemical products worth US$ 12 billion, mainly to Asian and African countries.

The Government of Iran has set an ambitious target of producing over 75 million tons of petrochemical products in the ongoing Iranian calendar year from the previous year’s production of 60 million tons.

The Government expects the country’s petrochemical production to reach 100 million tons in 2015, as enshrined in Iran’s fifth Five-year Economic Development Plan.

To achieve the 100 million ton production target, the National Petrochemical Company (NPC) has defined twenty new petrochemical projects and has invited both Iranian and foreign investment in those projects.

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