In October, the total output value of petrochemical industry increased by 11.7% year-on-year

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Since the fourth quarter of 2011, China Drying Network Co., Ltd. has been affected by the weak domestic and overseas consumer goods market demand. The growth rate of the petrochemical industry in the first half of this year has been falling month by month. In order to promote the steady growth of economic growth, the State Council executive meeting on May 23 called for a steady increase in the importance of the position, and related departments have successively introduced a series of measures for steady growth. Starting from the end of the second quarter, the petrochemical industry basically reversed the trend of continued decline in growth rate and gradually stabilized and recovered.

First, the growth rate of output rebounded and output growth stabilized

From January to October this year, the petrochemical industry accumulated a total industrial output value of 8857.0 billion yuan, a year-on-year increase of 11.7%; the industrial value-added increased by 10% year-on-year, of which the oil refining industry increased by 5.8% year-on-year, and the chemical industry increased by 11.9% year-on-year. Since May, the output value of the petrochemical industry has reversed the trend of continued decline in growth rate, and the output value has gradually stabilized and steadily rebounded. In October, the output value reached 955.6 billion yuan, a year-on-year increase of 15.6%.

From January to October, petrochemical industry production maintained a certain growth except for ethylene and some post-processed products, of which crude oil processing volume was 383 million tons, an increase of 2.6% year-on-year; refined oil was 231.63 million tons, an increase of 5%; ethylene was 12.33 million tons. A year-on-year decrease of 2.4%; synthetic resin 42.84 million tons, an increase of 6.3%; synthetic rubber 3.12 million tons, an increase of 7%; chemical fertilizer 62.95 million tons, an increase of 12.8%; pesticides 2.87 million tons, an increase of 19.3%; tires 729.32 million Article, a year-on-year increase of 3.6%.

Second, product prices stop falling, business efficiency is getting better

Since the third quarter, the national crude oil price has rebounded, and the price of Daqing crude oil has rebounded from US$101/barrel in July to US$110/barrel in October. Affected by this, the price index of petroleum products and the price index of chemical products have stabilized, and most of them have risen to more than 100, and the efficiency of refineries has improved.

From January to September, the petrochemical industry realized profits of 223.4 billion yuan, a year-on-year decrease of 22.6%. Among them, the net loss of the refining industry increased from 5 billion yuan in the same period of last year to 27.2 billion yuan; the profits from the chemical industry reached 239.2 billion yuan, a year-on-year decrease of 16.1%. From March to September, the growth rate of the petrochemical industry's profits gradually recovered from the January-February decline of 55% year-on-year and gradually increased to 23% year-on-year in September. In August and September, the refining industry suffered a loss of 8.2 billion yuan in July. Turned into a profit of RMB 1,351 million, achieving profitability and pulling up the profit growth of the petrochemical industry.

Third, investment has grown steadily and investment has been continuously optimized

From January to October this year, the petrochemical industry investment continued to maintain its steady growth momentum since last year, with an investment of 1,216.4 billion yuan, a year-on-year increase of 31.6%, and an increase of nearly 11 percentage points over the same period. Among them, the refinery industry invested 139.9 billion yuan, an increase of 23.3%; the chemical industry invested 10106 billion yuan, an increase of 31.2%. From January to October, there were 15,372 construction projects in the entire industry, an increase of 4.8% year-on-year. Among them, 10,341 new projects were started, an increase of 8.5% year-on-year. In the specific investment direction, the increase in high-end manufacturing industry was relatively large. Among them, the investment in synthetic materials increased by 55.8% year-on-year, and the investment in special equipment increased by 61.7% year-on-year, indicating that the industry has stepped up structural adjustment efforts in the face of declining overall efficiency.

Fourth, foreign trade bottomed out, and both growth rates rebounded

From January to October this year, the petrochemical industry completed a total foreign trade of US$327.3 billion, a year-on-year decrease of 0.3%. Of this total, imports were 187.4 billion U.S. dollars, down 0.4% year-on-year; exports were 139.8 billion U.S. dollars, down 0.1% year-on-year; trade deficits were 47.5 billion U.S. dollars, basically the same as last year.

Starting in May, the petrochemical industry reversed the downward trend in imports and exports since the fourth quarter of last year, gradually stopped falling and stabilized, fluctuated at low levels, and the monthly import and export volume had recovered to the level of the same period of last year. Compared with August, the growth rate of both imports and exports in September and October achieved positive growth. The growth rate of imports rebounded from a year-on-year decrease of 7.7% to a year-on-year increase of 2.6% and remained unchanged. The growth rate of exports rebounded from a year-on-year decrease of 3.2% to a year-on-year increase of 4.1% and 3.1%.

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