BAKU, Azerbaijan, April 28. The value of Iran's petrochemical exports increased by 8 percent, over the last Iranian year (March 21, 2021 through March 20, 2022), compared to the preceding Iranian year (March 20, 2020 through March 20, 2021), the Secretary of Iran's Association of Petrochemical Industry Corporation Ahmad Mahdavi told IRNA, Trend reports.
According to Mahdavi, Iran exported $14.5 billion worth of petrochemical products over the last Iranian year.
The secretary added that Iran's petrochemical exports are expected to increase again this year (March 21, 2022, through March 20, 2023).
“When there is an increase in prices of energy carriers, it affects all areas, including petrochemicals. At present, the price of all Iranian petrochemical products, excluding methanol, has increased,” he said.
Mahdavi also noted that of Iran’s total petrochemical export earnings, $12.5 billion were sold to Iranian banks under the NIMA exchange rate (the exchange rate created for exporters to sell a portion of their export earnings to banks) in the last Iranian year.
Over the last Iranian year, the sale of the currency obtained from the export of petrochemical products in Iran to Iranian banks under the NIMA exchange rate increased by 86 percent compared to the preceding Iranian year.
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