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Zhejiang's GDP rises 2.5 percent in H1

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


The Zhoushan Port in Ningbo, Zhejiang province. [Photo/zjol.com.cn]

The GDP of East China's Zhejiang province in the first half of 2022 expanded by 2.5 percent year-on-year to reach 3.62 trillion yuan ($536.45 billion), according to the Provincial Bureau of Statistics.

Figures released on July 25 show that the added value of Zhejiang's primary industry was 95.5 billion yuan, an increase of 3.4 percent year-on-year, in the first six months of this year. During this period, the added value of the secondary industry rose by 3.7 percent year-on-year to hit 1.55 trillion yuan. Meanwhile, the added value of the tertiary industry grew 1.5 percent year-on-year to reach 1.97 trillion yuan.

In the first half of 2022, Zhejiang's agricultural economy remained stable, and the province's added value of agriculture industry reached 98.7 billion yuan, a year-on-year increase of 3.4 percent. In terms of industry, the added value of industrial enterprises above designated size increased 5.5 percent year-on-year. In terms of the service industry, the added value drove the province's GDP to an increase of 0.9 percentage points. Specifically, the added value of the financial industry, the leasing and business service industry and the wholesale and retail industry rose by 7.4 percent, 4.3 percent and 3.8 percent year-on-year respectively.

In addition, Zhejiang's total retail sales of social consumer goods increased to 1.42 trillion yuan, a 2 percent year-on-year increase, while the Consumer Price Index (CPI) expanded by 2 percent year-on-year.

The prices of transportation and communication, education, culture and entertainment, other supplies and services, daily necessities and services, housing, food, tobacco and alcohol, and medical care rose by 6.2 percent, 4.3 percent, and 4.3 percent, 1.7 percent, 1.5 percent, 1.3 percent, 0.6 percent and 0.5 percent respectively, while clothing prices decreased by 0.3 percent.

According to the Provincial Bureau of Statistics, the per capita disposable income in the province in the first six months of 2022 reached 32,443 yuan, a year-on-year increase of 2.6 percent in real terms after deducting price factors.

The per capita disposable income of urban and rural residents stood at 37,749 yuan and 21,639 yuan respectively, an increase of 1.9 percent and 4.5 percent year-on-year in real terms.