On March 23, the China Petroleum and Chemical Industry Association released the report on the economic operation of the petrochemical industry. In February, the economic operation of the entire industry continued to maintain a recovery trend. The industry achieved gross output value of 562.36 billion yuan, an increase of 41% over the same period of last year. According to the analysis of the Petrochemical Association, the industry economy will show rapid growth. The output value in the first quarter will increase by about 40%, and the annual economic growth rate will be high and low.
The report analysis pointed out that in February, the economic operation of the petrochemical industry showed the following characteristics: the continued recovery of industrial output value growth; the major product production has increased substantially, the operating rate of the device has rebounded; the overall level of the industry prices continue to rise, production and sales are relatively smooth; investment increase The speed has slowed down markedly, and new projects have fallen; import trade has risen strongly, and export growth has been relatively weak; Xinjiang, Fujian, Shanghai and other six provinces (autonomous regions and municipalities) have grown rapidly.
Data show that in February, the total output value of the petrochemical industry, the new product output value 30.59 billion yuan, an increase of 58.8%. The higher growth of new products means that the industry has made progress in product structure adjustment and new product development. In February, there were 73 (species) products with a year-on-year growth, accounting for 97.3%. Among them, agrochemicals maintained a substantial growth trend. Under the impetus of demand for spring ploughing and ploughing, from January to February, the national chemical fertilizer output reached 101.62 million tons, a record high in the same period, an increase of 19.6% year-on-year. The output of pesticides was 354,000 tons, an increase of 31.1% year-on-year. In February, the overall price level of the industry rose by 27.7% year-on-year.
Affected by the state's macro-control and market factors, the growth rate of investment in fixed assets in the petrochemical industry slowed down significantly from January to February. The cumulative investment amount was 59.27 billion yuan, a year-on-year increase of 7.1%, and the growth rate slowed by 15.5 percentage points, a deceleration of 5.8 percentage points from the previous month. The lowest increase since the same period in 2005. However, investment growth in some industries with excess capacity is still very fast. Statistics show that from January to February, the phosphate fertilizer industry increased by 85.2%, the compound fertilizer industry increased by 61.6%, and the rubber product industry increased by 50.5%. At the same time, import trade has become increasingly active.
The petrochemical association pointed out that in the first quarter, the industry economy will show rapid growth, but in the second quarter, under the influence of capacity expansion and imports, the industry economy will show a steady and rapid trend, which may be slightly lower than the first quarter.
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