Metallurgy / Chemicals / Rubber & Plastics

The total import and export volume was 2024.7 billion US dollars, a year-on-year increase of 11.9%, and the total import and export volume of China's five minerals and chemical industry achieved double-digit growth throughout the year. Looking back at the import and export situation of China's five minerals and chemical industry last year, a spokesperson for the China Five Minerals and Chemical Import and Export Chamber of Commerce stated that the data from last year showed that the sustained growth of exports to emerging markets and the continuous optimization of trade methods were the main factors for the outstanding performance of import and export.

Specifically, in 2022, the import and export of China's five mineral and chemical industries showed four major characteristics:

One is the sustained growth of exports to other members of RCEP.

According to import and export data, for the entire year of 2022, the export value of China's mining and chemical industry to other members of the Regional Comprehensive Economic Partnership Agreement (RCEP) was 265 billion US dollars, accounting for 34.8% of the total export value of China's mining and chemical industry, a year-on-year increase of 20.3%, 4.5 percentage points higher than the industry average. Other members of RCEP contributed as much as 43.1% to the export growth of China's mining and chemical industry.

At present, RCEP is the largest free trade zone in the world, covering about 30% of the world's population, 30% of the total economic output, and 30% of foreign trade. The official entry into force of the Regional Comprehensive Economic Partnership Agreement (RCEP) in early 2022 has brought opportunities for China's mining and chemical industry exports, "said a spokesperson for the Chamber of Commerce.

Secondly, the proportion of imports and exports in the five mineral and chemical industries in the central and western regions continues to increase, and the regional layout is becoming more coordinated.

According to import and export data, in the entire year of 2022, the import and export volume of the five mineral and chemical industries in the central and western regions was 339.5 billion US dollars, accounting for 16.8% of the total import and export volume, an increase of 1.8 percentage points compared to 2021, a year-on-year increase of 25.4%, and 13.5 percentage points higher than the national average. Among them, the export volume was 152.5 billion US dollars, accounting for 20.0% of the total export volume, an increase of 3.0 percentage points compared to 2021, a year-on-year increase of 36.0%, and 20.2 percentage points higher than the national average; The import volume is 187 billion US dollars, accounting for 14.8% of the total import volume, an increase of 1.0 percentage points compared to 2021, a year-on-year increase of 18.0%, and 8.3 percentage points higher than the national average.

In recent years, China has further improved its policies to support the development of the western region, the revitalization of the Northeast, and the rise of the central region. The pace of opening up in the central and western regions has accelerated, and the growth rate of imports and exports is higher than the national average. The proportion of imports and exports continues to increase, and the regional layout is becoming more coordinated, "said a spokesperson for the Chamber of Commerce.

The third is the increase in the proportion of general trade exports and the continuous optimization of trade methods.

According to import and export data, for the entire year of 2022, the general trade export volume of China's mining and chemical industry was 608.7 billion US dollars, a year-on-year increase of 19.8%, which is 4.0 percentage points higher than the export growth rate of China's mining and chemical industry, accounting for 79.8% of the total export volume, and an increase of 2.7 percentage points compared to 2021; The export value of processing trade in China's five mineral and chemical industries was 62.8 billion US dollars, a year-on-year decrease of 0.4%, accounting for 8.2% of the total export volume, a decrease of 1.3 percentage points compared to 2021; The export value of other trade in China's mining and chemical industry was 91 billion US dollars, a year-on-year increase of 4.1%, accounting for 11.9% of the total export volume, a decrease of 1.3 percentage points compared to 2021.

General trade has the characteristics of a long domestic industrial chain, high added value, and good industrial security and stability. The increase in the proportion of general trade exports indicates the continuous optimization of trade methods, "said a spokesperson for the Chamber of Commerce.

Fourthly, price growth has driven a significant increase in import and export volume.

According to import and export data, for the entire year of 2022, the export value of China's five minerals and chemical industry was 762.5 billion US dollars, an increase of 15.8% year-on-year, and export prices increased by 14.9% year-on-year; The import volume of China's five minerals and chemical industry was 1262.1 billion US dollars, an increase of 9.7% year-on-year, and the import price increased by 11.9% year-on-year.

From an export perspective, steel and finished oil were the top two commodities exported by China's mining and chemical industry last year, with significant increases in export prices. For the entire year of last year, China's steel exports amounted to $97 billion, a year-on-year increase of 19.2%. Steel is a high energy consuming industry, and the sharp rise in energy prices has led to an increase in steel production costs. The average export unit price has increased by 17.9% year-on-year, to $1438/ton, setting a new historical high. China's export gold for finished oil has reached a new high The amount was 47.9 billion US dollars, a year-on-year increase of 47.6%. Finished oil is processed from crude oil, and the surge in crude oil prices directly led to a surge in finished oil prices. The average export unit price increased by 65.5% year-on-year.

Import and export data shows that in terms of imports, crude oil and iron ore were the top two commodities imported by China's five mining and chemical industries last year. For the entire year of last year, China's crude oil imports amounted to $361.6 billion, a year-on-year increase of 39.9%. Affected by the Ukrainian crisis, the average unit price of crude oil imports increased by 41.2% year-on-year to 711 US dollars per ton, setting a new high in nearly 8 years. China's iron ore imports amounted to $126.3 billion, a year-on-year decrease of 30.7%. Affected by the speculation of financial capital, the import price of iron ore in 2021 soared to 162 dollars/ton, a new high in nearly a decade. With the withdrawal of financial capital, the average unit price of iron ore import in 2022 fell 29.6% year-on-year, falling back to 114 dollars/ton, but still the second highest since 2014. " A spokesperson for the Chamber of Commerce stated.