The petrochemical industry started its economy well in 2011

The previous two months of the China Petroleum and Chemical Industry Federation’s release of the petrochemical industrial economy shows that the petroleum and chemical industries have a good start to the economy, with a rapid increase in output value, strong market demand, active import and export trade, and accelerated investment growth. Affected by the turbulent situation in North Africa and the Middle East, the recent international crude oil prices have risen rapidly and the prices of resource products have risen sharply.

As of the end of February, there were 26,255 large-scale enterprises in the industry, with an aggregate output value of 1.5 trillion yuan, a year-on-year increase of 32.9%, accounting for 13.7% of the country's total industrial output value. By sector, the growth rate of the chemical industry is leading. From January to February, the output values ​​of the three major industries of chemical industry, oil refining, and oil and gas exploration were 847.87 billion yuan, 441.03 billion yuan, and 176.32 billion yuan, respectively, an increase of 35.5%, 30.7%, and 25.7% year-on-year, respectively; and accounted for 56.7% of the total industry output value. , 29.5% and 11.8%. From a production point of view, of the 78 (species) key products tracked by the China Petrochemical Federation, 90% of the product's output increased year-on-year. Among them, potash fertilizer, monoammonium phosphate, oil drilling equipment and other products increased by as much as 98.6%, 63.2%, and 52.3%, respectively, with strong growth momentum.

At the same time, the domestic consumer demand for energy and some of the major chemical products grew strongly, the market demand was strong, and coupled with the turmoil in the external environment, the petrochemical market prices continued to increase. In the first two months, the petrochemical industry's price index totaled 109.1 points (the price for the same period in the previous year was 100). On the whole, the price increase is higher in the upper reaches than in the downstream, and oil is greater than chemical industry. From January to February, the petrochemical industry's product sales rate was 97.82%, an increase of 1.1 percentage points year-on-year, and the industry's production and sales convergence remained smooth.

The import and export trade of the whole industry is active, and the increase in imports is obviously higher than that of exports. From January to February, the total import and export volume of the industry was 84.207 billion U.S. dollars, an increase of 31.4% year-on-year. Among them, total imports reached US$62.058 billion, up 34% year-on-year; total exports were US$21.149 billion, up 24.5%. In the first two months, the trade deficit was 39.909 billion U.S. dollars, a year-on-year increase of 39.9%.

The growth rate of investment in the entire industry was accelerating, with the proportion of chemical industry rising. From January to February, the accumulated investment in the petrochemical industry was 75.259 billion yuan, a year-on-year increase of 18.9%, and the growth rate was 11.8 percentage points higher than the same period of last year. Among them, the investment in the chemical industry was 54.847 billion yuan, a year-on-year increase of 20.8%.