Azerbaijan, Baku, Oct. 17 / Trend A.Gurbanova/
The production of petrochemical products in Iran increased by 10 percent after removing subsidies, Mehr News Agency reported quoting the Economic Affairs and Finance Ministry.
Iran's petrochemical output increased to 24 million tons within seven months of removing subsides, compared to13.8 million tons recorded in the first four months of current solar year (started on March 20, 2011).
Iran's petrochemical products export grew by 17.7 percent after removing subsides, while the value of products increased by 17.3 percent during the first four months of current year.
Meantime, domestic prices of petrochemical products were higher than prices on global market in this period.
Production of petrochemical products is predicted to reach 46 million tons in Iran by the end of current year, whereas their export to foreign countries will hit 19 million tons.