Petrochemicals share 33% of Iran ’s non-oil exports

Business Materials 30 May 2015 14:48 (UTC +04:00)

Baku, Azerbaijan, May 30

By Umid Niayesh - Trend:

Iran's petrochemical products export accounted for $2.57 billion during the first two months of current Iranian fiscal year (March 21-May 22), indicating an increase by 23.7 percent year-to-year, Iranian Customs Administration said in its latest monthly report released May 30.

The value of Iran 's petrochemical product exports before the West-imposed sanctions (2011) was at $1.25 billion per month on average, but decreased significantly afterwards.

However, after reaching an interim nuclear deal in November 2013 and eliminations of petrochemical-related sanctions on the country, Iran increased the petrochemicals export.

During last fiscal year, ended March 20, Iran exported 18.8 million metric tons of petrochemical products, worth $14.241 billion.

Iran exported 3.9 million metric tons of petrochemical products during the first two months of current fiscal year (March 21-May 22), indicating a huge rise of 63 percent compared to the same period of preceding year.

Petrochemical products share 32.65 percent of Iran 's overall non-oil exports (including the gas condensates) during the two-month period, which was $7.861 billion.

Meanwhile the condensate exports decreased by 20.34 percent and accounted for $2.468 billion in the period.

Tehran exported 5.832 million metric tons of condensates during the two months, 16.23 percent more year on year.

Condensate exports shared 31.4 percent of Iran 's total non-oil exports in the period.

Gas condensate, also known as ultra-light oil- shared about one fourth of the country's total non-oil exports in last fiscal year and stood at $14 billion.

On the other hand, Iran's propane and butane exports decreased by 21.2 percent and 19.2 percent respectively to $306 million and $208 million in terms of value in the two-month period.

Meanwhile the volume of the two mentioned exports increased by 52.4 percent for propane and 44.5 percent for butane and stood at 558,000 and 366,000 metric tons respectively during the period.

Iran experienced positive non-oil trade balance for the first two months of current Iranian fiscal year as the figure stood at $1.517 billion.

The Islamic Republic imported about $6.344 billion worth of goods during the period, which indicates a fall by 13.82 percent in value year on year.

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