China Q3 economy expands 7.8% on year; Jan-Sept C2 output up 6.4%

18 October 2013 08:19  [Source: ICIS news]

China Q3 economy expands 7.8% on year; up 2.2% on quarterSINGAPORE (ICIS)--China’s economy expanded at a faster annual rate of 7.8% in the third quarter, from a 7.5% clip in the previous three months, backed by higher manufacturing output, official data showed on Friday.

On a quarter-on-quarter basis, the world’s second biggest economy posted a 2.2% growth.

In the first nine months of 2013, China’s GDP growth averaged 7.7%, higher than the official full-year target of 7.5%, data from the National Bureau of Statistics (NBS) showed.

On the production side, industrial value-added in January-September 2013 was up 9.6 % year on year, with manufacturing posting a 10.3% growth

China’s ethylene (C2) output in the first nine months of 2013 rose 6.4% year on year to 11.8m tonnes, NBS data showed.

Its crude processing volumes over the same period grew 4.2% to 356m tonnes.

Meanwhile, the country’s sulfuric acid and caustic soda production in January-September 2013 increased by 4.8% to 60.2m tonnes and by 4.4%  21.1m tonnes, respectively, according to official statistics.

A gradual recovery in more developed economies helped to boost China’s exports, NBS spokesperson Shen Laiyun said.

Overall exports rose by 8.0% year on year to yuan (CNY) 1,615bn ($265bn) in January-September this year, while imports were up by 7.3% at CNY1,446bn, it said.

China is a major importer of petrochemicals in Asia, with end-products mostly exported.

($1 = CNY6.10)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections

By: Viola Pan
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index