According to the latest statistics from the China Petroleum and Chemical Industry Federation, in August, the petroleum and chemical industries operated steadily and the growth rate slowed down. The market supply and demand are basically stable, and the overall price level continues to climb; the growth rate of import and export trade is accelerating, and investment maintains steady growth; the overall industry benefit continues to improve. However, the cost of economic operations continues to rise, oil refining continues to suffer losses, investment in oil and gas exploration is insufficient, and the uncertainty and instability of the external economic environment increase.
In August, the main features of the economic operation of the petrochemical industry were: economic growth slowed down. As of the end of August, there were 26,667 large-scale and above-enterprise enterprises (companies with a main income of over 20 million yuan), with a total output value of 949.36 billion yuan (current price), an increase of 34.0% year-on-year, and an increase of 3.2 percentage points from the previous month; 1 to 8 In the month, the cumulative output value was 7.23 trillion yuan, an increase of 35.0% over the same period of last year. The increase was unchanged from January to July, accounting for 13.4% of the country's total industrial output value.
Industry profits continue to grow faster. From January to July, the total profit of enterprises above designated size in the industry was 486.363 billion yuan, an increase of 30.9% year-on-year. The increase rate was 1.1 percentage points lower than that of the period from January to June, accounting for 17.38% of the total profits of industrial enterprises above designated size in the same period.
The increase in output of major products has declined. In August, the output of major petroleum and chemical products continued to grow at a relatively fast rate overall, but the growth rate of most products declined from the previous month. The growth of inorganic chemical raw materials, oil drilling equipment, chemical fertilizers, and chemical reagents remained strong.
Import and export trade increased significantly. In August, the total import and export volume reached 54.155 billion U.S. dollars, a record high, an increase of 41.3% year-on-year, an increase of 5.5 percentage points from the previous month and an increase of 5.4% from the previous month. From January to August, the total import and export trade volume of the industry was 397.452 billion U.S. dollars, a year-on-year increase of 34.2%.
Investment growth is stable and investment in oil and gas exploration continues to decline. From January to August, the fixed assets investment in the petrochemical industry was 822.271 billion yuan, a year-on-year increase of 18.9%, which was the same as the increase from January to July. Among them, the investment in oil and gas exploration was 126.704 billion yuan, a year-on-year decrease of 3.0%.
The overall market demand is strong. Demand for oil continued to slow, demand for chemical fertilizers continued to increase, demand for basic chemical raw materials was strong, and composite materials rebounded.
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