Iran petrochemicals export plunging in value & volume
Despite a relative increase in petrochemical products export since 2013, the figures are expected to decrease both in volume and value during the current year. According to a report, released by Shana on Sep.14, Iran is expected to export 17.5 million metric tons (MT) of petrochemical products during the current fiscal year, which will end on March 20, 2016. Before The imposition of sanctions, Iran was exporting 21.226 MT of petrochemical exports, but the figure decreased to 14.492 MT in a fiscal year to March 2013. However, Iran and P 5+1 (the US, UK, France, Russia, China + Germany) reached an interim nuclear deal in November 2013, which led to elimination of petrochemical-related sanctions on Iran. Iran's petrochemicals export reached 18.8 MT in the last fiscal year, ended on March 20, 2015, increasing by 28.35 percent in volume and 31.79 percent in value year-to-year. Petrochemicals production (MT) Petrochemical export (MT) Petrochemical export ($ Billion) 20