Mar 1, 2020, 3:00 PM
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Iran’s exports of petrochemical products rises by 5 pc

Tehran, March 1, IRNA – Iran’s exports of chemical products has risen by 5% over the first ten months of the Iranian calendar year (started on March 21, 2019), according to the spokesman of the Union for Exporting Oil Products.

Speaking to IRNA economic correspondent on Sunday, Hamid Hosseini said that the increase in the exports of petrochemical products is mostly due to inauguration of new petrochemical units in Iran.

On the negative impact of the global coronavirus outbreak on the energy market, he said that the spread of the virus shut down some oil and petrochemical complexes in China on the one hand and reduced the prices of oil products which has been caused by a fall in demand on the other hand.

Noting that Iran exports its petrochemical products mainly to Iraq and Turkey, the official said that if the uncertainty and shutting down of the borders continues, it will leave a negative impact on the country’s export market.

Exports of non-oil products from the Customs Administration of the Pars Special Economic Energy Zone have been increasing despite US restrictions and sanctions. Over $ 500 million worth of non-oil products were exported in November, up by 39 percent in terms of weight and a 5 percent growth in terms of value compared to the same period last year.

In addition, there were many restrictions on shipping and insurance of ships and oil tankers against Iran, but these measures did not prevent the growth of non-oil exports, which were dominated by petrochemicals.

Customs Director General of Pars Special Economic Energy Zone in an interview with IRNA on December 4 referred to the export of 1 million and 626,458 tons of products in November, noting that these products include methanol, propane, butane, lightweight and heavy polyethylene and, ammonia, sulfur, styrene, crude oil, etc.

The export value of these products in the eighth month of this current Iranian year (starting on March 21) is estimated at over $ 574 million and $ 665,754, Ahmad Pourheidar went on to say.

The official made the remark that the goods have been exported to China, the United Arab Emirates, South Korea, India, Japan, Hong Kong, Indonesia, Turkey, Egypt, Kuwait and so on," he said.

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