The China Petroleum and Chemical Industry Federation recently released the latest report on the economic performance of the industry. In October, the economic operation of the oil and chemical industry continued to maintain a good momentum, and the growth was noticeably accelerated. The overall supply and demand in the market was stable and the price increase widened. However, the Federation also warned that due to the continuous devaluation of the U.S. dollar, world trade protectionism is showing a trend of strengthening and exports of industrial products are facing a more complicated situation. In addition, the rapid increase in the prices of energy and raw materials also continues to increase the pressure on corporate costs.
Statistics show that in October the industry realized a total output value of 799.07 billion yuan, a record high, an increase of 30%, an increase of 3.9 percentage points over the previous month, accounting for 12.71% of the country's total industrial output value. From January to October, the total output value of the industry was 7.13 trillion yuan, a year-on-year increase of 34.8%. In terms of sub-sectors, the growth rate of the chemical industry in October reached 31.5%, clearly ahead of other industries. Among them, pesticides, synthetic materials and specialty chemicals have grown faster. The increase in output value of the oil and gas exploration and refining industries was 28.6% and 27.7% respectively.
It is worth noting that the growth rate of the entire industry's export trade continued to slow in October. According to statistics, domestic export delivery value for the month was 40.09 billion yuan, an increase of 19% year-on-year, an increase of 2.8 percentage points from the previous month, the lowest increase during the year. Since the second half of the year, the growth rate of the export delivery value of the entire industry has slowed down significantly, and the external demand environment has been deteriorating.
Statistics show that in October the industry realized a total output value of 799.07 billion yuan, a record high, an increase of 30%, an increase of 3.9 percentage points over the previous month, accounting for 12.71% of the country's total industrial output value. From January to October, the total output value of the industry was 7.13 trillion yuan, a year-on-year increase of 34.8%. In terms of sub-sectors, the growth rate of the chemical industry in October reached 31.5%, clearly ahead of other industries. Among them, pesticides, synthetic materials and specialty chemicals have grown faster. The increase in output value of the oil and gas exploration and refining industries was 28.6% and 27.7% respectively.
It is worth noting that the growth rate of the entire industry's export trade continued to slow in October. According to statistics, domestic export delivery value for the month was 40.09 billion yuan, an increase of 19% year-on-year, an increase of 2.8 percentage points from the previous month, the lowest increase during the year. Since the second half of the year, the growth rate of the export delivery value of the entire industry has slowed down significantly, and the external demand environment has been deteriorating.
Frp Store Tank,Underground Frp Storage Tanks,Frp Chemical Storage Tanks,Frp Storage Tank
Hebei Chunfeng International Trade Co., Ltd , https://www.cfcastiron.com