In the first quarter of this year, the economy of the petroleum and chemical industries was on the whole running smoothly.Production of oil, gas and major chemicals continued to accelerate, and the market stabilized.Foreign trade maintained growth;Investment picked up and consumption maintained rapid growth.But the industry economic operation downward pressure is still very big;Cost high operation, the benefit decreases greatly.
According to statistics, from January to march, the added value of the petroleum and chemical industries increased by 4.8% year-on-year.Operating income was 2.94 trillion yuan, up 4.6 percent year-on-year.The total profit was 159.05 billion yuan, down 21.9% year-on-year.Imports and exports totaled us $174.02 billion, up 3.3 percent year-on-year.China's total oil and gas production totaled 8.6929 million tons (oil equivalent), up 4.4 percent year-on-year.Total output of major chemicals increased by about 4.1 percent year-on-year.
The acceleration of investment growth in the chemical industry has been one of the highlights.According to the data released by the national bureau of statistics, in the first three months of this year, the fixed asset investment in the chemical raw material and chemical products manufacturing industry increased by 11.3% year-on-year, 3.2 percentage points faster than that in the first two months of this year.
The second bright spot is the growth of foreign trade.In the first quarter, the import and export trade of the petroleum and chemical industries maintained a momentum of growth, among which the export growth was steady and accelerated.According to the customs data, from January to march, the total import and export volume of the whole industry reached 174.02 billion us dollars, up by 3.3% year-on-year, accounting for 16.9% of the total import and export volume of the whole country.Exports totaled us $54.23 billion, up 5.7 percent, 3 percentage points faster than the previous two months.Imports totaled us $119.79 billion, up 2.3 percent.The trade deficit shrank 0.3 percent year-on-year in the january-march period.
From the performance of the industry, data show that the decline in the first quarter of the industry slowed down, the decline in profits narrowed.From January to march, the total profit of petroleum and chemical industry reached 159.05 billion yuan, down 21.9% year on year, and the decline narrowed 15.5% compared with January and February.The operating cost per 100 yuan of revenue was 82.68 yuan, up 1.33 yuan year-on-year.The loss area of the industry was 25.5 percent, an increase of 3.2 percentage points year-on-year.From January to march, the operating profit margin of the whole industry was 5.41%, down 1.83 points year-on-year.
According to the analysis and judgment of macroeconomic operation trend, industrial production, price trend, structural adjustment and other comprehensive factors, it is expected that the operating revenue of the petroleum and chemical industry will increase by about 10% in 2019, and the total profit of the industry will be roughly flat with that of the previous year.