According to figures released by the National Development and Reform Commission, 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.

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 USD 13.8 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.