In April, the quality of petrochemical economy was good
The report on the economic operation released by the China Petroleum and Chemical Industry Federation recently showed that in April, the economic operation of the petroleum and chemical industries generally maintained a good momentum. The output value continued to grow rapidly; the market supply and demand were generally stable, and the price shocks increased; the import and export trade maintained an active momentum, the investment growth rate accelerated, and the quality of the industry's economic growth continued to improve. However, commodity prices continue to climb, corporate operating costs remain high, refining profits have fallen sharply, and the price of petrochemical products has become more difficult to transmit.
According to statistics, in April, the total output value of enterprises above designated size in the industry reached 921.23 billion yuan, an increase of 34% year-on-year. The growth rate dropped 2.1 percentage points from the previous month and 0.2% from the previous month. From January to April, the cumulative output value of the industry was 33,400. Billion yuan, a year-on-year increase of 33.9%.
In April, the main domestic petrochemical products maintained a relatively rapid growth, and the growth rate of most of the product production slowed down from the first quarter, due to the overall slowdown in demand for the petrochemical market. Of the 78 (species) key products tracked, output increased by more than 90% year-on-year. Among them, pesticides, ammonium phosphate, oil drilling equipment, basic chemical raw materials and other products grew more strongly.
In April, the fixed assets investment in the petrochemical industry was 109.82 billion yuan, a year-on-year increase of 24.9%. The growth rate was 7.8 percentage points higher than that in March, but the number of new projects continued to decline. The total import and export volume of the industry was 51.657 billion U.S. dollars, an increase of 32.3% year-on-year. Among them, total imports amounted to 37.474 billion U.S. dollars, an increase of 30.7% year-on-year; exports totaled 14.183 billion U.S. dollars, an increase of 37%, and the export structure continued to improve.
In addition, in the first quarter, the profits of the petrochemical industry continued to grow rapidly. The total profit of enterprises above designated size in the industry was 20.288.7 billion yuan, a year-on-year increase of 37.8%.
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