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The report pointed out that in September, the national oil and chemical industry realized a total output value of 613.97 billion yuan, a record high this year, an increase of 3.3% year-on-year, ending the negative growth for nine consecutive months since the end of last year, and accelerating 9.5 times over the previous month. percentage point. Among them, the output value of the chemical industry increased by 11.9% year-on-year, an increase of 4.5% from the previous month; the output value of the oil and natural gas extraction industry decreased by 23.7% year-on-year, but the decrease was reduced by 13.7% from the previous month; the output value of the oil refining industry increased by 1.2% compared to the same period of last year; Positive growth for the first time.
From January to September, the total output value of the oil and chemical industry reached 4.68 trillion yuan, a year-on-year decrease of 7.9%, a decrease of 1.7 percentage points from January to August. From a quarterly perspective, the growth rate in the first quarter was -14%; in the second quarter, it was -7.9%; in the third quarter, it was -3.1%.
The petrochemical association said that the recovery of the petrochemical industry is continuously strengthening and it is expected that positive growth can be achieved in the fourth quarter. If the domestic macro economy continues to maintain its current stable trend, it is initially judged that before the end of this year, the petrochemical industry economy may end the trend of low recovery. Expansion phase.
However, the report also pointed out that there are still some problems in the economic operation of the petrochemical industry: First, there is no major change in the downturn in the chemical market; Second, the overcapacity problem in some industries is prominent, and structural adjustment pressures increase; Third, the spread of international trade protectionism, the industry The export situation is grim.
Petrochemical industry says goodbye to negative growth in September
According to the latest analysis report from the China Petroleum and Chemical Industry Association, in September, the pace of economic recovery in the oil and chemical industry was significantly accelerated, output value rose sharply, production continued to grow rapidly, industry utilization rate improved, and investment in the chemical industry continued to grow rapidly. The decline in export trade has been significantly reduced.