Ningbo's GDP hits 1.57t yuan in 2022

chinadaily.com.cn| Updated:  March 1, 2023 L M S


A view of Ningbo Zhoushan Port in East China's Zhejiang province. [Photo/WeChat account: nbfb0574]

Ningbo in East China's Zhejiang province saw its gross domestic product grow 3.5 percent year-on-year in 2022 to hit 1.57 trillion yuan ($227.54 billion), according to local statistics authorities.

The added value of the city's primary, secondary, and tertiary industries was 39.2 billion yuan, 741.35 billion yuan, and 790.88 billion yuan, up 4.1 percent, 3.2 percent, and 3.8 percent respectively.

Its agriculture, forestry, animal husbandry, and fishery industries registered a year-on-year increase of 4.2 percent to 40.04 billion yuan in the past year.

Ningbo's industrial added value expanded 3.3 percent year-on-year to 668.17 billion yuan. The profits of above-designated-size companies in the city totaled 141.37 billion yuan, shrinking by 18.2 percent from a year earlier.

Fifteen out of 35 major industries in the city reported positive growth in added value. Stable growth was seen in the chemical raw materials, computer communications, and automobile manufacturing sectors, which grew 24.8 percent, 15.1 percent and 14.5 percent respectively.

In 2022, the city's investment in fixed assets achieved a year-on-year growth of 10.4 percent.

Meanwhile, its foreign trade volume rose by 6.3 percent to about 1.27 trillion yuan. Specifically, exports increased by 8 percent year-on-year to 823.06 billion yuan, while imports were valued at 444.07 billion yuan, up 3.4 percent.

Imports and exports of local private enterprises reached 923.75 billion yuan, making up 72.9 percent of the city's total.

Ningbo also posted a strong recovery in consumption in the past year. The city's retail sales of social consumption goods amounted to 489.67 billion yuan, a jump of 5.3 percent year-on-year.

The city's fiscal revenue increased by 2.9 percent to 335.86 billion yuan.

Income levels also improved. The city's overall per capita disposable income in 2022 increased by 4.5 percent to 68,348 yuan. The per capita disposable income of urban residents rose to 76,690 yuan, while the figure for rural residents was 45,487 yuan.