Petrochemical Sector’s Revenues Reach $15 Billion in 11 Months

EghtesadOnline: Iran’s petrochemical revenues are projected to increase by $4 billion compared to last Iranian year (March 2021-22) and reach $19 billion by the end of the current fiscal year (March 2023)

News ID: ۷۵۲۳۱۳

28 February 2023

Petrochemical revenues from the export of 22 million tons of products have reached $15 billion during the first 11 months of the current Iranian year (March 21, 2022-Feb. 19), the National Petrochemical Company’s director for planning and development said.

“Out of this amount, 90% were injected into the secondary foreign exchange market, locally known as Nima,” Hassan Abbaszadeh was also quoted as saying by the Oil Ministry’s news agency Shana.

Nima is an online platform affiliated to the Central Bank of Iran where exporters sell their overseas currency income and companies buy for importing machinery, equipment and raw materials.

According to the official, the sector’s total earnings in the last fiscal year stood at $15 billion and 65 petrochemical companies contributed $13 billion of their revenue to Nima.