Ningbo's GDP up 8.2% in 2021

chinadaily.com.cn| Updated: January 26, 2022 L M S

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

Ningbo's gross domestic product (GDP) totaled 1.45949 trillion yuan ($224.53 billion) in 2021, rising 8.2 percent on a yearly basis and 5.7 percent on a two-year average basis, according to preliminary statistics released by the Ningbo Bureau of Statistics on Jan 25.

The added value of the city's primary, secondary, and tertiary industries reached 35.61 billion yuan, 699.72 billion yuan, and 724.16 billion yuan, representing a year-on-year growth of 2.6 percent, 9.8 percent, and 7.1 percent respectively.

The industrial added value of enterprises above the designated size in Ningbo expanded 11.9 percent year-on-year to 486.5 billion yuan in the past year.

Their combined profits stood at 172.41 billion yuan, up 10.2 percent year-on-year.

Stable growth was seen in the city's service sector, which registered a year-on-year increase of 7.1 percent to 724.16 billion yuan in 2021.

As the prime engines fueling local economic growth, investment in fixed assets and foreign trade also showed good performances.

In 2021, the city's investment in fixed assets achieved a year-on-year growth of 11 percent. Its foreign trade value rose 21.6 percent year-on-year to 1.19261 trillion yuan, with exports expanding 19 percent to 762.43 billion yuan.

Ningbo also posted a strong recovery in consumption in the previous year. The city's retail sales of social consumption goods in 2021 amounted to 464.91 billion yuan, a jump of 9.7 percent year-on-year.

The city's fiscal revenue rose by 15.1 percent to 326.44 billion yuan.

The income gap between its urban and rural residents has been further narrowed. The city's overall per capita disposable income increased by 9.1 percent to 65,436 yuan. Per capita disposable income of urban residents rose to 73,869 yuan, while the figure for rural residents was 42,946 yuan.

Ningbo Zhoushan Port handled 1.224 billion metric tons of cargo in 2021, up 4.4 percent year-on-year. The port's container throughput reached 31.08 million TEUs last year, up 8.2 percent year-on-year.