Iran Earns $61 Billion in Five Years from Petchem Exports despite Sweeping Sanctions

TEHRAN (Tasnim) – Iran has earned $61 billion by exporting 120 million tons of petrochemical products from the beginning of 2018 to the end of 2022 amid growing sanctions, the deputy head of the Iranian Association of Petrochemical Industry Corporation (APIC) said on Monday.

Fariborz Karimaei made the remarks in the 32nd Meeting of Managing Directors of Petrochemical Companies, adding that about 40 million tons of petrochemicals were produced in the previous Iranian calendar year (ended on March 20, 2023).

Of those products, 28 million tons were exported and 12 million tons were sold inside the country, he said, adding that the annual sales were valued at $27 billion, SHANA reported.

More than 27 million tons of raw materials worth $26 billion and over 11 million tons of urea fertilizers valued at $3.2 billion calculated according to compulsory prices were supplied to downstream and agricultural industries respectively by petrochemical complexes during the five-year period, he went on to say.

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