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Zhejiang's GDP up 7.1% in Q1

Apr. 26, 2012 (China Knowledge) - East China's Zhejiang Province saw its gross domestic product grow 7.1% year on year to RMB 672.5 billion in the first quarter of this year, according to the latest statistics released by the Zhejiang Statistics Bureau.

The growth rate was 1 percentage point lower than the national average of 8.1%.
 
Value-added output in the primary industry rose 0.8% year on year to RMB 24.3 billion, and that in the secondary sector grew 6.4% year on year to RMB 334.4 billion. The tertiary sector generated RMB 313.8 billion, 8.2% more than in the same period of 2011.
 
The province's value-added industrial output was RMB 230.4 billion in the period, up 4.8% year on year. The growth rate, the lowest level since the third quarter of 2009, was 8.1 percentage points lower than that in the same period of 2011 and 6.1 percentage points lower than that in the whole of 2011.

Zhejiang's fixed-asset investment jumped 17% year on year to RMB 288.8 billion in the period, including RMB 96 billion in property development, reflecting a growth of 24.5% year on year.

Retail sales in the province rose 13.2% year on year to RMB 318.5 billion. The province's foreign trade climbed 5.2% year on year to US$69.95 billion.






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