China's 2021 Economic Growth Surpasses Expectations at 8.1%

Economics & Macro

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Reza Pahlevi 17/01/2022 17:00 WIB

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According to China's National Bureau of Statistics, China's gross domestic product (GDP) was recorded at 114.37 trillion yuan in 2021. This represents an 8.1% growth from the 2020 GDP.

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China's 2021 Economic Growth Surpasses Expectations at 8.1%

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China's Economic Growth, 2017-2021

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According to China's National Bureau of Statistics, China's gross domestic product (GDP) was recorded at 114.37 trillion yuan in 2021. This GDP grew by 8.1% from the 2020 GDP.

This 8.1% economic growth in China exceeded the previously set target. At the National People's Congress in March 2021, the government targeted economic growth of 6%.

China's economic growth last year was mainly driven by economic growth in Q1 2021. In that quarter, economic growth reached 18.3% (yoy).

Afterwards, China's economic growth continued to slow. Economic growth was recorded at 7.9% (yoy) in Q2 2021, 4.9% (yoy) in Q3 2021, and 4% in Q4 2021.

By industry, the added value of the primary industry was recorded at 8.31 trillion yuan, the secondary industry at 45.09 trillion yuan, and the tertiary industry at 60.97 trillion yuan.

Editor : Annissa Mutia

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."