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Zhejiang's GDP expands 5.1 percent in Q1

ezhejiang.gov.cn| Updated: April 26, 2022 L M S

East China's Zhejiang province saw steady and robust growth in the first quarter of 2022, according to the Provincial Bureau of Statistics.

Figures released on Monday show that in the first three months of this year, Zhejiang's GDP expanded by 5.1 percent year-on-year, reaching 1.7886 trillion yuan ($272.086 billion). The added value of its primary industry rose by 2.4 percent year-on-year, reaching 33.6 billion yuan, while that of the secondary industry increased 7.6 percent year-on-year to 740.8 billion yuan. Meanwhile, the added value of Zhejiang's tertiary industry grew by 3.5 percent year-on-year, reaching 1.0142 trillion yuan.

According to the Provincial Bureau of Statistics, the added value of industrial enterprises above designated size increased 9.9 percent year-on-year. Among them, the added value of private enterprises increased 11.0 percent year-on-year, accounting for 69.2 percent of the overall growth. The added value of core industries of digital economy and high-tech industries rose by 17.8 percent and 11.7 percent year-on-year respectively.

In addition, the total retail sales of social consumer goods in Zhejiang increased to 711.9 billion yuan, growing by 5.5 percent year-on-year. Specifically, retail sales of social consumer goods in urban and rural areas rose by 5.6 percent and 4.7 percent year-on-year respectively. Sales of new energy vehicles, in particular, increased by 1.2 times.

In the first quarter, the per capita disposable income in the province reached 19,366 yuan, a year-on-year increase of 6.0 percent — 4.5 percent in real terms after deducting price factors. The per capita disposable income of urban and rural residents stood at 22,784 yuan and 12,541 yuan respectively, an increase of 5.5 percent and 7.3 percent year-on-year in nominal terms, and 3.9 percent and 6.4 percent in real terms.