In November, the output value of the petrochemical industry exceeded 800 billion yuan

According to the latest industry economic operation report released by the China Petroleum and Chemical Industry Federation, the economic operation of the petroleum and chemical industries maintained a good momentum in November. The economic growth rate continues to accelerate; the market supply and demand are generally stable, and the price increase continues to expand; investment growth has declined significantly. It is worth noting that the current increase in energy and raw material prices is still accelerating, and the cost pressure on enterprises is further increasing. Under the background of high oil prices, the difficulty in the transmission of petrochemical product prices has gradually increased, and the trend of slowing market demand growth has not fundamentally changed.

In November, the growth rate of the petrochemical industry continued to accelerate and the output value hit a record. According to statistics, in November, the industry realized a total output value of 842.59 billion yuan, for the first time standing on the level of 800 billion yuan, an increase of 32.2% year-on-year, an increase of 5.5%. From January to November, the total output value of the industry was 7.99 trillion yuan, an increase of 34.6% year-on-year. Among the sub-sectors, the refinery industry is leading the growth rate, and the output value in November increased by 34.2% year-on-year.

In November, the output of major domestic petrochemical products continued to increase substantially. In particular, oil products, coatings, chemical minerals, and some basic chemical raw materials grew rapidly. The output of 78 (species) petrochemical and related products that were tracked by the China Petroleum and Chemical Industry Federation showed that there were 68 (species) and 87.2% of the products with a year-on-year increase and flat, up 2.6 percentage points from the previous month.

In November, the price increase of the petrochemical industry continued to expand, with the oil and gas exploration industry showing the strongest growth. The petrochemical industry price index for the month was 109.61 points, up 9.61 points year-on-year and 1.43 percentage points month-on-month. In November, the petrochemical industry's product sales rate was 97.9%, and the industry's production and sales convergence remained basically smooth.

In November, the import and export trade of the petrochemical industry doubled. The total import and export trade volume of the industry was US$42.26 billion, an increase of 40.9% year-on-year. Among them, the total import value was 29.598 billion U.S. dollars, an increase of 39.9% year-on-year; the total export value was 12.66 billion U.S. dollars, an increase of 43.1% year-on-year. In November, the trade deficit was 16.93 billion U.S. dollars, a year-on-year increase of 37.6%.