Iran forecasts annual petrochemical exports to reach $14 billion

TEHRAN,Feb.19(MNA)--Iran exported over $11 billion worth of petrochemicals in the first ten months of the current calendar year, ended on January 20, the National Petrochemical Company (NPC) managing director said, forecasting the figure would reach $14 billion by the end of the year. Abdolhossein Bayat added that the NPC is currently exporting its products to 60 countries of the world, ranking the first in exporting methanol to Asian countries specifically. For the time being, Iran holds 24.5 percent share and 2.4 percent share in the Middle East’s and the world’s petrochemical production, respectively, he said. Bayat noted that Iran produced more than 40 million tons of petrochemical goods in the last Iranian calendar year. Statistics show that the Islamic Republic exports annually some $2 billion worth of petrochemicals to 17 European countries. The country also exported 18 million tons of petrochemical products worth $11.6 billion last year, showing a 26-percent increase compared to two years ago, he added.