Petchem sales grew 9.4% in two months
Iranian petrochemical exports surged by nearly 9.4% in the first two months of the Persian calendar year which started on March 20, the head of the Islamic Republic of Iran Customs Administration (IRICA) said on Monday.
Mohammad Rezvanifar said petrochemical manufacturers earned some $3.5bn from exports during the two-month period, surpassing the previous year’s revenues in the same timespan by $300,000.
The weight of petrochemical overseas sales also climbed almost 3.8%, rising from 8 million tons to 8.3 million tons compared to the same timeframe last year, he said, ISNA reported.
Rezvanifar added that petrochemical products accounted for 44% of Iran’s non-oil exports in terms of value during the two-month timeframe. According to the IRICA chief, the bulk of petrochemical exports comprised liquefied propane, methanol, butane, liquefied natural gas and petroleum gases.
He did not give any details about the destination of the exported commodities.
“The growth rate in the weight and value of petrochemical exports during the first two months of the year is a promising sign, suggesting an upward trend in the sales of petrochemicals,” Rezvanifar pointed out.
The petrochemical industry witnessed a severe slump in exports last year. Export values plunged to $19.4bn, a sharp dip of 28.6% from the previous year’s $27.2bn, official figures showed.
Experts put the blame on a decline in the average price per ton of exported items.
The head of the Tehran Chamber of Commerce, has said the value per ton of petrochemical goods took a nosedive of around 20%, from $496 to $398.
Last year, petrochemical plants cranked out 96 million tons of goods. Deputy Oil Minister for Petrochemicals Morteza Shahmirzaei has said that the sector’s output is expected to hit the 100 million tons milestone this year.
“A total of 15 petrochemical projects will come onstream this year, bringing the number of operating petrochemical plants to 80 factories by yearend,” Shahmirzaei said earlier this
month.