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Zhejiang sees GDP rise 3.1% from Q1-Q3

ezhejiang.gov.cn| Updated : Nov 7, 2022 L M S

The GDP of East China's Zhejiang province in the first three quarters of 2022 expanded by 3.1 percent year-on-year to 5.58 trillion yuan ($536.45 billion), according to the provincial bureau of statistics.

Figures show that the added value of Zhejiang's primary industry was 146.3 billion yuan, an increase of 2.8 percent year-on-year, in the first nine months of this year, while the added value of the secondary industry rose by 4 percent year-on-year to 2.4 trillion yuan, and the added value of the tertiary industry grew 2.3 percent year-on-year to 3.03 trillion yuan.

In the first nine months of 2022, the total output value of the agricultural, forestry, animal husbandry and fishing industries in Zhejiang reached 233 billion yuan, a year-on-year increase of 3.2 percent.

The added value of industrial enterprises above designated size increased 5.4 percent year-on-year, while the added value of the service industry drove the province's GDP up 1.3 percentage points. The manufacturing industry, the core industry of the digital economy, grew by 12.7 percent, driving the growth of industries above designated size by 1.8 percentage points.

In the first three quarters, the total retail sales of consumer goods reached 2.1778 trillion yuan, an increase of 4.2 year-on-year, while the consumer price index (CPI) rose 2.3 percent year on year.

In addition, the per capita disposable income of all residents was 47,023 yuan, a nominal increase of 5.2 percent year on year, and a real increase of 2.8 percent year on year after deducting price factors. The per capita income ratio of urban and rural residents was 1.81, down 0.04 from the same period last year.