Iran exports $61b worth of products amid sanctions

Iran exports $61b worth of products amid sanctions
(Monday, July 3, 2023) 23:45

TEHRAN (NIPNA) -- Iran’s petrochemical industry has exported 120 million tonnes of petrochemicals worth $61 billion in the past four years despite sanctions, and injected 81 percent of it into the NIMA system, the deputy head of the Petrochemical Employers Association said on Tuesday.

Fariborz Karimaei said at the 32nd conference of petrochemical CEOs that the petrochemical industry played a significant role in the country’s economy in recent years, and said: “The petrochemical industry with a current nominal capacity of about 92 million tonnes per year, produced about 70 million tonnes of products in 1401 (March 2022-March 2023), of which about 40 million tonnes are final products for sale.”

He added: “Last year, about 28 million tonnes of petrochemical products were exported and 12 million tonnes were sold domestically, which generated a total of $27 billion in revenue.”

The deputy head of the Petrochemical Employers Association continued: “The share of petrochemical exports from non-oil exports in 1401 was about 30 percent.”

Karimaei elaborated on the performance of the petrochemical industry in the country’s economy, and said: “The petrochemical industry has exported 120 million tonnes of petrochemical products worth $61 billion in the years 1397 to 1401 (March 2018-March 2022) despite sanctions, and injected 81 percent of it into the NIMA system.”

He added: “More than 27 million tonnes of raw materials for downstream industries worth $26 billion and more than 11 million tonnes of urea fertilizer at subsidized prices worth $3.2 billion for the agricultural sector were supplied by petrochemical companies at the peak of sanctions in the years 1397 to 1401.”

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