Tai'an's GDP grows 4.2% in Jan-Sept

(chinadaily.com.cn) Updated: 2022-11-02

Tai'an in East China's Shandong province generated 242.84 billion yuan ($33.59 billion) in GDP in the first three quarters of this year, up 4.2 percent year-on-year, according to statistics released by the city's statistics bureau.

These figures also showed that the city's primary industries grew 4.3 percent to 29.01 billion yuan, while its secondary and tertiary industries grew 5.6 percent and 3.1 percent, respectively, to 91.63 bilion yuan and 122.2 billion yuan in the first nine months.

During the same period, the city's agricultural industry grew steadily, generating 59.12 billion yuan in total output value for agriculture, forestry, animal husbandry and fishery.

The city's total added value of industries increased by 5.4 percent year-on-year, accounting for 31.1 percent of the economic growth contribution and driving the GDP growth rate by 1.3 percentage points, showcasing the robust development of the city's industries during the same period.

Investment, consumption and exports are three major drivers that have boosted the city's economic growth.

During the first three quarters of this year, the city's fixed asset investment soared 14.7 percent year-on-year, its total retail sales of consumer goods amounted to 83.32 billion yuan, and its total export volume surged 58.4 percent year-on-year.