China Petroleum and Chemical Industry Federation recently released the industry-wide economic performance report in November last year.The report shows that the whole month the economy maintained a good momentum in the industry.The country's oil and gas and major chemicals production basically stable, the general price level rise continued to accelerate, Export continued good momentum, the industry continued to improve efficiency, but investment is still weak, further increase the pressure on imports, such as rising inventories to speed up should be vigilant.
As of the end of November, the cumulative value-added of the oil and chemical industry increased by 3.9% in 2017, up 0.1% from January to October. From January to November, the revenue from main business of the industry was 12.83 trillion yuan, up 16.3% over the same period of last year.
The production of energy and major chemicals was basically stable from January to November, with a total national output of 296 million tons of oil equivalent, up 0.9% over the same period of last year. The total output of major chemicals increased by about 2.6%.
The total import and export volume continued to grow rapidly and the export growth rate further accelerated.Customs statistics show that in November the total import and export volume of the whole industry was 55.11 billion USD, the highest in 3 years, up 27.6% over the same period of previous year, an acceleration of 4.7 percentage points from the previous month.
From January to November, the total profit of the whole industry was 807.02 billion yuan, up 51.4% over the same period of last year. According to the industries, the total profit of the oil and gas mining industry was 480.5 billion yuan, a loss of 43.6 billion yuan over the same period of last year; the total profit of the oil refining industry 1836.4 billion yuan, an increase of 22.5%; total profits of chemical industry 559.89 billion yuan, an increase of 35.7%.
At the same time, the entire industry, especially the chemical industry investment decline continued to expand from January to November, the industry completed 1.86 trillion yuan in fixed asset investment, down 3.2%, a decline of 1 to 10 months to expand 0.6 percentage points, of which the chemical industry Investment 1.38 trillion yuan, down 5.7%, a decline of 1% increase from January to October.
In the first 11 months, the inventory of industrial inventories increased by 13.4%, of which the chemical industry rose by 14.2%, the largest increase in recent years.
In the petrochemical market, the import pressure is still great .In November, the import volume of synthetic materials in our country continued to increase rapidly. The import volume of organic chemical materials maintained rapid growth, and the related products continued to be imported in large quantities.