TEHRAN, Apr 26 (NNN-IRNA) – Iran’s revenues from exports of petrochemical products will decrease by nearly one-third, as the COVID-19 pandemic posed an adverse effect on the international market.
Revenues from petrochemical exports will fall by at least 30 percent in the current year, compared with that of the previous year, said a report of the parliament’s Research Centre.
The main reason for the slump will be the depressed prices in the international market, as well as, problems with transportation of goods across the borders and on the sea, it said.
The slump in demand will directly affect Iran’s sale of methanol, liquefied petroleum gas, and aromatics, while the demand for other products like polymers, urea and ammonia will gradually decrease, over the next months, it added.
The petrochemical exports have served as a main component of Iran’s foreign currency income, since the United States imposed its sanctions on the country’s crude exports in Nov, 2018.
According to Press TV, Iran’s petrochemicals sector generates around 12 billion U.S. dollars per year in export revenues.– NNN-IRNA
