OREANDA-NEWS. April 12, 2013. The petrochemical industry in China saw its total output value increase 11.6% YoY to RMB 1.72 trillion in the first two months of this year, according to figures released by the National Development and Reform Commission.

The NDRC said that the output value in oil refining sector rose 7% to RMB 549.9 billion during the period from January to February, while the output value of the chemical industry increased 13.6% YoY to RMB 1.12 trillion during the period.

The industry processed 80.65 million tonnes of crude oil during the period, up 3% YoY. The output of oil products increased 5.1% from a year earlier to 49 million tonnes, and that of ethylene rose 2.2% YoY to 2.71 million tonnes.

The export and import value of the petrochemical industry amounted to USD 33.4 billion in January 2013, 15.4% more than in the same period of last year. Export value grew 5% from a year earlier to USD13.8 billion and import value increased 24.1% YoY to USD 19.6 billion.

In the first two months, the petrochemical industry realized RMB 96 billion in investment, 13.6% more than in the corresponding period of last year.