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Ningbo sees GDP surpsss 1t yuan in first three quarters

chinadaily.com.cn| Updated:  November 3, 2022 L M S


A view of Ningbo, East China's Zhejiang province. [Photo/VCG]

Ningbo in East China's Zhejiang province saw its gross domestic product grow 3.5 percent year-on-year in the first three quarters of 2022 to hit 1.12 trillion yuan ($172.3 billion), according to local statistics authorities.

The added value of the city's primary, secondary, and tertiary industries reached 23.99 billion yuan, 541.61 billion yuan, and 555.1 billion yuan, a year-on-year growth of 3.9 percent, 4 percent, and 3.2 percent respectively.

Its agriculture, forestry, animal husbandry, and fishery industries registered a year-on-year increase of 4 percent to 25.3 billion yuan during the nine-month period.

The added value of industrial enterprises above designated size in Ningbo expanded 4.9 percent year-on-year to 397.28 billion yuan. Their profits totaled 106.44 billion yuan, shrinking by 17.5 percent from a year earlier.

Twenty-two out of 35 major industries in the city reported positive growth in added value. Stable growth was seen in its service sector, which recorded a year-on-year increase of 3.2 percent.

From January to September, the city's investment in fixed assets achieved a year-on-year growth of 10.2 percent.

Meanwhile, foreign trade volume rose by 10.3 percent to 962.51 billion yuan. Specifically, exports increased by 12 percent to 624.33 billion yuan, accounting for 3.09 percent of the nation's total and 0.01 percentage points higher than the same period last year. Imports and exports of local private enterprises were valued at 690.39 billion yuan, making up 71.7 percent of the city's total.

Ningbo also posted a strong recovery in consumption in the past nine months. The city's retail sales of social consumption goods during this period amounted to 348.91 billion yuan, a jump of 5.8 percent year-on-year.

The city's fiscal revenue decreased 2.1 percent to 77.28 billion yuan.

Income levels also improved. The city's overall per capita disposable income in the first nine months of this year increased by 5.9 percent to 54,460 yuan. Per capita disposable income of urban residents rose to 60,902 yuan, while the figure for rural residents was 37,526 yuan.