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Jiangsu's GDP up 9.8% in Q1

May. 2, 2012 (China Knowledge) - East China's Jiangsu Province saw its gross domestic product grow 9.8% year on year to RMB 1.09 trillion in the first quarter of this year, according to the latest statistics released by the Jiangsu Statistics Bureau.

The growth rate was 1.7 percentage points higher than the national average of 8.1%.
Value-added output in the primary industry rose 4.1% year on year to RMB 42.06 billion, and that in the secondary sector grew 10.7% year on year to RMB 611.57 billion. The tertiary sector generated RMB 434.52 billion, 8.8% more than in the same period of 2011.
The province's value-added industrial output was RMB 634.11 billion in the period, up 12% year on year. Medium and large enterprises in the province realized RMB 2.65 trillion in core business revenue, reflecting growth of 12.8% year on year. However, these enterprises saw gross profit fall 3.7% year on year to RMB 122.54 billion in the first quarter.

Jiangsu's fixed-asset investment jumped 22% year on year to RMB 663.14 billion in the period, including RMB 130.66 billion in property development, reflecting a growth of 19.3% year on year.

Retail sales in the province rose 15.2% year on year to RMB 455.72 billion. The province's foreign trade climbed only 0.3% year on year to US$121.51 billion.

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