BAKU, Azerbaijan, April 2. Iran's petrochemical exports decreased by 28.6 percent in value and 11.3 percent in weight in the last Iranian year (from March 21, 2023 through March 19, 2024) compared to the previous year (from March 21, 2022 through March 20, 2023), Iran's Deputy Minister of Economy and Finance and Director General of Iran's Customs Administration Mohammad Rezvanifar said, Trend reports.
According to Rezvanifar, Iran exported 48.8 million tons of petrochemical products worth $19.4 billion last year.
Rezvanifar added that the reason for the decline in Iran's petrochemical exports was the drop in prices of petrochemical products around the world.
The official said that the main petrochemical product exported by Iran is methanol.
To note, Iran's petrochemical production potential currently stands at 92 million tons per year. By the end of the current Iranian year (March 19, 2024), the petrochemical production potential is expected to increase to 95 million tons.
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