The latest statistics show that in the fourth quarter of 2011, the total output value of Taiwan's petrochemical industry (including chemical raw materials, synthetic plastics, and synthetic rubber) reached 426.6 billion yuan, a decrease of 5.7% from the previous period and a year-on-year decrease of 6.8%. In 2011, the output value of the petrochemical industry in Taiwan reached 1.9076 trillion yuan, with an annual growth rate of 4.7%.
In the fourth quarter of 2011, the major factor in the decline in the output value of the Taiwanese petrochemical industry was the impact of the international market on the weak demand for petrochemical products. In terms of sub-sectors, the output value of the petrochemical raw material manufacturing industry located in the uppermost reaches in the fourth quarter of last year was 267.5 billion yuan, a decrease of 4.9% from the previous quarter and a year-on-year decrease of 5.5%. The output value of synthetic resins and plastics manufacturing in the middle reaches of the industry in the fourth quarter was 144.2 billion yuan, a decrease of 7.7% from the previous quarter and a decrease of 10.9% year-on-year. The best performer in the fourth quarter of last year was the synthetic rubber manufacturing industry. The single-quarter production value was 15 billion yuan, up by 1.5% from the previous month and up 19.5% year-on-year, mainly due to the impact of the butadiene price stoppage and rebound, and the sales price of synthetic rubber followed the rise.
Looking forward to the first quarter of 2012, based on the full rise in the prices of supplementary stocks and petrochemical products, IEK expects the output value of the first quarter to be 434.2 billion yuan, up 1.8% from the previous quarter. Chen Baolang, chairman of Taiwan Formosa Petrochemical Co., Ltd., said that Formosa Petrochemical's first-quarter operation will also rise significantly due to the rise in prices of related petrochemical products in the fourth quarter of last year. However, IEK said that the petrochemical industry will still be affected by global issues such as European and American debt throughout the year, and the total output value for 2012 is expected to be 1008.2 billion yuan.
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