Press TV cited National Petrochemical Company (NPC) production manager Ali Mohammad Bosaqzadeh as saying that the figure shows represents a 7% increase in terms of value compared to the corresponding figure of last year.

Iran’s petrochemical output marked 22.8 million tons during the six-month period, which coincides with Iran’s calendar year first half, according to official figures.

In the last calendar year, which ended 20 March, Iran generated 40 million tons of petrochemicals and exported $9bn worth of the petrochemicals products.

A major oil exporter, Iran is planning to boost its petrochemical exports to $12bn in 2014 and is determined to become the biggest petrochemical producer in the Middle East.

Over the past few years, the country has strengthened the range and volume of its petrochemical production.