Economy in 2023

North China's Shanxi province posted 5.0 percent growth in its gross domestic product in 2023, with GDP exceeding 2.57 trillion yuan ($359.35 billion), according to the annual report issued by the Shanxi Statistics Bureau.

The secondary industry played a prominent role in driving economic growth last year, with 5.1-percent growth in added value, followed by 5.0-percent growth by the tertiary industry and 4.0-percent growth by the primary industry. 

The province's general public budget revenue came in at 347.91 billion yuan, an increase of 0.7 percent. 

Annual investment in fixed assets decreased 6.6 percent year-on-year. 

Retail sales of consumer goods totaled 798.18 billion yuan, up 5.5 percent year-on-year. The province's consumer prices declined 0.1 percent from 2022.

According to the statistics issued by the bureau, 489,000 people were newly employed in the province's urban areas.

The per capita disposable income of urban residents totaled 41,327 yuan, an increase of 4.5 percent, while that of rural residents was 17,677 yuan, up 8.3 percent.

Agriculture 

The province's grain output in 2023 was 14.65 million metric tons, up 0.9 percent year-on-year and the total production of pork, beef, mutton and poultry was 1.54 million tons, up 8.3 percent year-on-year. The added value of the farming, forestry, animal husbandry and fishery industries grew 4.0 percent year-on-year to 146.88 billion yuan last year. 

Industries 

The added value of industrial enterprises above a designated size – those with annual sales revenue of 20 million yuan or more – increased 4.6 percent compared with 2022. 

Among its leading sectors, the strategic emerging industries increased 10.9 percent year-on-year in added value. 

Foreign trade

The value of Shanxi's foreign trade in 2023 was 169.37 billion yuan, decreasing 7.4 percent year-on-year. Imports were worth 64.34 billion yuan, up 2.0 percent, and exports totaled 105.03 billion yuan, down 12.3 percent.

Energy

Last year, Shanxi's coal, electricity and gas production all maintained stable growth.

The raw coal output of local coal producers above a designated size increased 3.3 percent to 1.36 billion tons, while unconventional natural gas output was 14.59 billion cubic meters, up 9.6 percent. 

The province's power generation capacity last year reached 437.61 billion kilowatts-hours, an increase of 4.6 percent year-on-year. 

Throughout 2023, Shanxi transmitted 157.60 billion kWh of electricity to other regions in China, an increase of 7.7 percent year-on-year.