Iran’s currency revenues surge by 275 percent via exporting more energy

TABNAK, Jul, 06: “The rise in Iran’s energy exports not only have led to considerable growth in the country’s currency revenues, but also has brought 275 percent more currency revenues collected from exporting crude and condensates, an energy expert Ali Mortazavi said.

According to the energy expert, Iran’s exports have grown up by 300 percent, gas exports by 30 percent and LPG exports jumped by 100 percent over last three years.

Mortazavi further continued that Iran’s efforts to redesign its energy trade, increase oil production, explore new markets, diversify energy exports and attract foreign investment over last three years have yielded fruit which led to considerable rise in Iran’s crude exports and jump in the country’s currency revenues.

According to the energy expert, Iran’s oil and gas sector managed to receive US$5.5 billion foreign investment in 2023, breaking a record over last 17 years.