Copyright 2024 - Ningbo Life / Ningbo Expat

Ningbo's Total GDP Exceeded 1.5 Trillion Yuan

Yesterday, the Ningbo Municipal Bureau of Statistics and the Ningbo Investigation Team of the National Bureau of Statistics announced the city's economic operation in 2022. According to the results of the unified accounting of the province's gross regional product, Ningbo's total GDP reached 1.57043 billion yuan last year, an increase of 3.5% year-on-year at comparable prices, an increase of 0.5 percentage points higher than the national and 0.4 percentage points higher than that of the province; the total GDP accounted for more than 20% of the province for the first time, reaching 20.2%, an increase of 0.3 percentage points over the previous year.

In the past year, Ningbo has fully implemented a series of decisions and deployments of the state, provinces, and municipalities to stabilize the economic market, promoted economic stability and quality improvement with extraordinary efforts, and joined hands with various market entities to tide over the difficulties, and the city's economy showed a positive trend of stabilization under pressure. The three industries have gradually recovered, the three major needs have made concerted efforts, the cultivation of emerging kinetic energy has been accelerated, and the social and people's livelihood protection has been strong, achieving a good start in the construction of a modern coastal metropolis.

By industry, the primary industry achieved an added value of 38.20 billion yuan, a year-on-year increase of 4.1%; The added value of the secondary industry reached 741.35 billion yuan, an increase of 3.2%; The added value of the tertiary industry reached 790.88 billion yuan, an increase of 3.8%. The ratio of tertiary industries was 2.4:47.2:50.4, and the contribution rates of tertiary industries to GDP growth were 2.9%, 42.1% and 55.0% respectively.

Agricultural production is steadily improving. The added value of agriculture, forestry, animal husbandry and fishery in the city reached 40.04 billion yuan, a year-on-year increase of 4.2%. The city's grain sowing area was 1.724 million mu, an increase of 1.9%; The total grain output was 716,000 tons, a 10-year high, an increase of 5.6%.

The industry maintained steady growth. The added value of industries above the designated size in the city reached 533.94 billion yuan, a year-on-year increase of 3.8%. The added value of high-tech, high-tech industry, strategic emerging industry, new materials and artificial intelligence industries increased by 6.3%, 6.3%, 5.8%, 4.4% and 4.3% respectively, all higher than the overall growth rate of industries above designated size.

Investment in fixed assets achieved rapid growth. The city's fixed asset investment increased by 10.4% year-on-year, of which private project investment increased by 16.3%. From the perspective of the main composition of investment, manufacturing investment increased by 14.8%, infrastructure investment increased by 14.1%, and the total contribution rate to the growth of fixed asset investment was 57.7%.

The recovery of the service industry has accelerated, and the popularity of online retail has not decreased. In the whole year of last year, the added value of the city's service industry increased by 3.8% year-on-year, 1.8 percentage points faster than the first half of the year. The consumer market continued to recover, and the total retail sales of social consumer goods in the city reached 489.67 billion yuan, a year-on-year increase of 5.3%, of which the total retail sales of social consumer goods above the designated size were 196.62 billion yuan, an increase of 9.0%.

The guarantee of people's livelihood expenditure is strong. The city's total fiscal revenue reached 335.86 billion yuan, a year-on-year increase of 2.9%; The general public budget revenue was 168.02 billion yuan, an increase of 5.1% after deducting the factor of tax rebates. The city completed the general public budget expenditure of 218.78 billion yuan, an increase of 12.5%, of which health expenditure, energy conservation and environmental protection expenditure, social security and employment expenditure increased by 38.4%, 27.3% and 22.3% respectively

Exchange rate approx 6.5Yuan=1 USD

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