The report of the China Petroleum and Chemical Industry Federation shows that in 2021, China's petroleum and chemical industry will achieve operating income of 14.45 trillion yuan, an increase of 30% over 2020; total profits of 1.16 trillion yuan, an increase of 126.8% over 2020 ; The total import and export volume was 860.08 billion US dollars, an increase of 38.7% over 2020. This set of data far exceeded the expectations at the beginning of the year, especially the operating income and profits have created new historical records. However, it is worth noting that in 2021, the losses of the coal chemical industry in the chemical industry will expand, and other sub-sectors will achieve profitability.
Data from the China Petroleum and Chemical Industry Federation show that the petrochemical industry will have four record highs in 2021. First, operating income hit a record high. The entire industry achieved operating income of 14.45 trillion yuan, 400 billion yuan higher than the best year in history. Second, the total profit reached a record high. The whole industry realized a total profit of 1.16 trillion yuan, the first time in history that the profit exceeded one trillion yuan. Third, the total profit of the chemical sector hit a record high. The total profit of enterprises above designated size in the chemical sector was 793.22 billion yuan, exceeding the best year of the "13th Five-Year Plan" by 31%. Fourth, the revenue and profit margin of the chemical sector hit a record high. The profit margin of the chemical sector reached 9.16% for the first time, 2.27 points higher than the best year of the "13th Five-Year Plan".
Relevant persons from the China Petroleum and Chemical Industry Federation pointed out that in 2021, driven by factors such as the dislocation of supply and demand recovery and the oversupply of monetary aggregates, global energy and commodity prices will rise sharply, and domestic petroleum and chemical product prices will rise significantly. Some major commodity chemical prices hit record highs. At the same time, in 2021, the foreign trade of my country's petroleum and chemical industries will continue to grow at a high speed. In 2021, investment in the petrochemical industry will resume a comprehensive growth trend, of which the investment in chemical raw materials and chemical product manufacturing will increase by 15.7% year-on-year.
Currently, my country's petrochemical industry is in an important stage of moving from big to strong, with great growth potential, but also great challenges. Relevant persons from the China Petroleum and Chemical Industry Federation predict that in 2023, the industry as a whole will focus on stability, and the basic trend of stability and quality improvement will remain unchanged, but the growth rate of major indicators will slow down. In the first half of 2023, the growth rate of main indicators may be low, and it will accelerate in the second half of the year, showing a trend of "low before and then high" throughout the year.