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China's GDP in 2021 estimated at 114,367 bn yuan, up by 8.1% over 2020

23 Mar '22
2 min read
Pic: Shutterstock
Pic: Shutterstock

China’s gross domestic product (GDP) in 2021 was estimated to be 114,367 billion yuan, up by 8.1 per cent over the previous year with an average two-year growth of 5.1 per cent. The per capita GDP and the gross national income last year were 80,976 yuan (up by 8 per cent over 2020) and 113,351.8 billion yuan (up by 7.9 per cent over 2020) respectively.

Of the total GDP, the value added of the primary industry was 8,308.6 billion yuan, up by 7.1 per cent over 2020; that of the secondary industry was 45,090.4 billion yuan, up by 8.2 per cent; and that of the tertiary industry was 60,968.0 billion yuan, up by 8.2 per cent.

The value added of the primary industry accounted for 7.3 per cent of the GDP; that of the secondary industry accounted for 39.4 per cent; and that of the tertiary industry accounted for 53.3 per cent, according to an official statistical communiqué on the 2021 national economic and social development.

The contribution of the final consumption expenditure to GDP growth rate was up by 5.3 percentage points, that of the gross capital formation to GDP growth rate up by 1.1 percentage points and that of the net exports of goods and services to GDP growth rate up by 1.7 percentage points.

In 2021, the sown area of grain was 117.63 million hectares, an increase of 0.86 million hectares compared with the 2020 figure. The sown area of cotton in 2021 was 3.03 million hectares, a decrease of 0.14 million hectares. In 2021, the output of cotton was 5.73 million tonnes, down by 3 per cent over the previous year.

Fibre2Fashion News Desk (DS)

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