Home> Latest

Zhejiang economy continues recovery in November

ezhejiang.gov.cn| Updated: December 22, 2024 L M S

Zhejiang province's economy continued to recover in November, driven by stronger consumer spending and robust trade, according to the Zhejiang Provincial Bureau of Statistics.

Retail sales for the first 11 months totaled 3.07 trillion yuan ($420.77 billion), a four percent rise year-on-year. November's sales reached 321.7 billion yuan, up one percent.

Demand for lifestyle upgrades stood out: sales of wearable smart devices jumped 46.8 percent, new energy vehicles 35.6 percent, and household electronics 15.7 percent.

Trade also surged. Zhejiang's total goods trade from January to November hit 4.81 trillion yuan, growing 6.9 percent, with exports up 9 percent and imports rising 1.2 percent. The province contributed 15.5 percent of national exports, ranking second in the country.

Private firms played a major role, with 108,000 companies driving 3.9 trillion yuan in trade, a 7.6 percent increase.