Affected by various factors, imports have decreased significantly, and exports have increased. China's three major synthetic materials have narrowed their foreign trade deficits.

In the first half of 2005, China's petrochemical sector faced a complex environment shaped by domestic macroeconomic controls, rising international oil prices, and increasing trade tensions. These factors collectively influenced the import and export dynamics of synthetic resins, synthetic fibers, and synthetic rubber. Domestic users struggled to absorb high-priced imported products, leading to suppressed demand in some areas. However, the expansion of domestic production capacity for key petrochemical products helped reduce reliance on imports, narrowing the trade deficit. One of the most notable trends was the sharp decline in synthetic resin imports. This was primarily driven by high international oil prices, which kept polyolefin prices at elevated levels. At the same time, new domestic facilities came online, significantly boosting local production. As a result, the import volume of synthetic resins fell by 14.4% year-on-year to 8.973 million tons, while the import value rose by 11.7%. The five general-purpose resins saw a drop in imports, with only polyvinyl chloride (PVC) showing relatively stable performance due to its lower dependence on oil prices. The price of general-purpose resins, except PVC, remained high, pushing up average import unit prices by over 20% compared to the same period in 2004. Meanwhile, exports of certain resin products increased, especially as domestic manufacturers capitalized on higher production capacity and favorable pricing. The export volume of the five general-purpose resins reached 129,000 tons, up by 53,000 tons from the previous year. Despite this, demand for specialized resins with high added value remained undersupplied domestically. Synthetic fiber imports also declined sharply during the first half of 2005, even as domestic output grew by 5.3%. A total of 712,000 tons were imported, a 19% decrease compared to the same period in 2004. The drop was attributed to both increased domestic supply and higher import costs. Polyester remained the dominant imported fiber, but its share decreased slightly, while imports of nylon and acrylic staple fibers saw modest increases due to higher domestic demand. Exports of synthetic fibers rose significantly, reaching 276,000 tons in the first half of the year—an increase of 111,000 tons compared to the previous year. Polyester and nylon exports led the growth, with polyester staple fiber seeing the largest rise. This trend reflected improved competitiveness and expanding markets for Chinese-manufactured fibers. In the case of synthetic rubber, imports hit a record low for the same period, falling by 6.5% to 520,000 tons. This was partly due to slower growth in the automotive industry and trade disputes affecting downstream demand. Although domestic production increased by 7.7%, it still lagged behind the growth rate of the previous year. Prices of synthetic rubber continued to climb, with import values rising by 24.1% and average unit prices up by 32.7%. Styrene-butadiene rubber, the largest imported variety, saw a 15.1% drop in volume, but import values and prices still increased significantly. Other types of synthetic rubber, such as butyl and nitrile rubber, continued to rely heavily on imports despite reduced growth rates. Overall, the first half of 2005 marked a period of transition for China’s petrochemical industry, with domestic production capacity expanding and import patterns shifting in response to global market conditions.

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