China's Gross Domestic Product Increases 9% in 2008

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Researched by Industrial Info Resources (Sugar Land, Texas)--China's gross domestic product (GDP) in 2008 totaled $4.39 trillion, up 9% year over year, according to preliminary estimates by the National Bureau of Statistics of China released on January 22.

Click on the image at right for a breakdown of China's gross domestic product for 2008.

Quarterly Growth

• First quarter: 10.6%
• Second quarter: 10.1%
• Third: 9%
• Fourth: 6.8%

By Sector

• First industry (agriculture, forestry, livestock and fisheries): $496.4 billion, up 5.5% year over year
• Second industry (construction, manufacturing and energy production): $2.13 trillion, up 9.3% year over year
• Third industry: $1.76 trillion, up 9.5% year over year

Production Output

• Grain: 528.5 million tons, up 26.9 million tons, or 5.4%
• Summer grain: 120.41 million tons, up 3.05 million tons
• Rice: 31.58 million tons, up 60,000 tons
• Autumn grain: 376.51 million tons, up 23.79 million tons
• Oil-bearing seeds: up 12%
• Sugar: up 6%
• Meat: 72.5 million tons, up 5.9%

According to the report, the added value of industrial enterprises rose 12.9% in 2008, although that growth was 5.6 percentage points lower compared with 2007. An analysis of different types of enterprises showed that the added value of state-owned enterprises grew 9.1%. Collective-owned enterprises grew 8.1%; share-holding enterprises grew 15%; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan grew 9.9%. The growth of the heavy industry and the light industry reached 13.2% and 12.3%, respectively. The heavy industry refers to sectors involving the major production of basic equipment and technology for various uses, including excavation and exploitation, raw materials and processing. The light industry refers to sectors mainly engaged in the supply of consumer goods.

The growth rates in the eastern, central and western regions were 11.6%, 15.8% and 15%, respectively.

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