Iran’s export of petrochemicals exceeds $3.6bn in 5 months

Iran has exported over 3.6 billion dollars worth of an array of petrochemicals during the first five months of the current Iranian calendar year, which started on March 20.

The country sold more than 8.724 million tons of a variety of petrochemicals at international markets in the aforementioned period.

The figure points to a growing trend in the exports following the implementation of last year’s nuclear agreement, known as the Joint Comprehensive Plan of Action (JCPOA), and easing of sanctions as well as banking restrictions, IRNA reported.

The National Petrochemical Company (NPC) said on Saturday that Iran’s petrochemical industry produced over 21.238 million tons of petrochemicals in the same period.

Iran exported 1.859 million tons of petrochemicals valued at over 569 million dollars to global markets only in the Persian calendar month of Mordad (July 22-August 21).

The country currently has the capacity to produce 61 million tons of petrochemicals but the figure can reach 120 million tons by 2025 providing the completion of the construction of half-finished projects.

On January 16, Iran and the five permanent members of the United Nations Security Council – the United States, Britain, France, China and Russia – plus Germany started implementing the JCPOA, which they had clinched on July 14, 2015.

Under the nuclear agreement, Iran agreed to limit its nuclear program in return for the termination of all nuclear-related sanctions against the Islamic Republic.

By Press TV