Overview

Home> Overview

Inner Mongolia's GDP up by 5.9% in Q1

2024-05-08 (goinnermongolia.com.cn)

In the first quarter of 2024, the economic landscape of North China's Inner Mongolia autonomous region has shown a steady and promising growth trajectory.

Data reveals that the region's GDP for the first quarter reached 560.4 billion yuan ($76.77 billion), marking a 5.9 percent year-on-year increase.

Within this, the added value by the region's primary industry amounted to 17.7 billion yuan, up by 7.2 percent compared to the same period of last year; the secondary industry saw an added value of 273 billion yuan, reflecting an 8.1 percent growth year-on-year; and the tertiary industry contributed an added value of 269.7 billion yuan, showing a 4.1 percent increase year-on-year.

Meanwhile, during the first quarter, the added value of agriculture, forestry, animal husbandry, and fishery in the region grew by 7.1 percent year-on-year.

Spring farming preparations progressed in an orderly fashion, with ample agricultural production resources guaranteed.

Livestock production maintained a positive trend, with the total output of pork, beef, mutton, and poultry meat across the region reaching 440,000 metric tons, up by 8.0 percent compared to the same period last year.

Moreover, in the first quarter, the added value of industries above designated size in the region increased by 7.1 percent year-on-year.

Looking at the production of the region's major industrial products, raw coal output reached 320 million tons, a 2.9 percent increase year-on-year; electricity generation amounted to 195.04 billion kilowatt-hours, rising by 12.3 percent; dairy product output reached 1.14 million tons, up by 2.1 percent; and steel production hit 8.53 million tons, showing a 12.1 percent increase.

The added value of the service industry in the region grew by 4.1 percent year-on-year in the first quarter, and fixed asset investment surged by 31.5 percent year-on-year. Meanwhile, the total retail sales of consumer goods reached 132.22 billion yuan, up by 2.8 percent year-on-year.

Additionally, in terms of consumer prices, the region saw a 0.6 percent year-on-year increase in the Consumer Price Index (CPI). The per capita disposable income for all residents in the region stood at 10,736 yuan, a nominal increase of 6.6 percent year-on-year.