China’s GDP increases by 8.1% in 2021

China’s GDP was 114,367 billion yuan in 2021, an increase of 8.1 per cent over the previous year at constant prices with the average two-year growth of 5.1 per cent, according to preliminary estimates. By quarter, the GDP for the first quarter went up by 18.3 per cent year on year, up by 7.9 per cent for the second quarter, 4.9 per cent for the third quarter and 4 per cent for the fourth quarter.

By industries, the value added of the primary industry was 8,308.6 billion yuan, up by 7.1 per cent over the previous year, that of the secondary industry was 45,090.4 billion yuan, up by 8.2 per cent and that of the tertiary industry was 60,968.0 billion yuan, up by 8.2 per cent, the National Bureau of Statistics (NBS) of China, said in a media release.

The total value added of industrial enterprises above the designated size increased by 9.6 per cent over the previous year, an average two-year growth of 6.1 per cent. In 2021, the national industrial capacity utilisation rate reached 77.5 per cent, 3 percentage points higher than that of the previous year.

The GDP of China was 114,367 billion yuan in 2021, an increase of 8.1 per cent over the previous year at constant prices with the average two-year growth of 5.1 per cent, according to preliminary estimates. By quarter, the GDP for Q1 went up by 18.3 per cent year on year, up by 7.9 per cent for Q2, 4.9 per cent for Q3 and 4 per cent for Q4.

In the first eleven months, the total profits made by industrial enterprises above the designated size were 7,975 billion yuan, up by 38 per cent year on year with the average two-year growth of 18.9 per cent. The profit rate of the business revenue of industrial enterprises above the designated size was 6.98 per cent, up by 0.9 percentage points year on year.

In 2021, the total retail sales of consumer goods reached 44,082.3 billion yuan, up by 12.5 per cent over the previous year with the average two-year growth of 3.9 per cent. The national online retail sales reached 13,088.4 billion yuan, growing by 14.1 per cent over the previous year, as per the NBS.

In 2021, the total value of imports and exports of goods was 39,100.9 billion yuan, an increase of 21.4 per cent over the previous year. Specifically, the total value of exports was 21,734.8 billion yuan, up by 21.2 per cent; the total value of imports was 17,366.1 billion yuan, up by 21.5 per cent. The trade balance was 4,368.7 billion yuan in surplus.

Fibre2Fashion News Desk (KD)