Zhuhai GDP hit 291b yuan in 2018

Zhuhai's GDP climbed 8 percent to 291 billion yuan ($43 billion) in 2018, 1.4 percentage points higher than the national average and 1.2 percentage points higher than the provincial average. The city grew throughout various economic indicators.

According to official statistics, the added value of the city's primary, secondary, and tertiary industries were 5 billion yuan, 143 billion yuan, and 143 billion yuan, respectively, up 1.2 percent, 12.6 percent, and 3.5 percent. Zhuhai's economic aggregate has risen from 10th to 9th place among cities in Guangdong Province.

In 2018, the added value among industries above a designated size hit 108 billion yuan, a year-on-year increase of 14.1 percent. The natural gas mining, home and electrical appliances, and bio-pharmaceutical industries maintained high growth rates of 44.7 percent, 24.8 percent and 23.4 percent, respectively. Meanwhile, the petrochemical industry grew steadily, rising 8.9 percent. The decline in the precision instrument manufacturing industry was reversed, growing 8.9 percent. The electronic information and energy industries grew by 7.2 percent and 7.0 percent, respectively.

Analyses show that 74.8 percent of economic growth was attributed to industry, increasing from 50.4 percent in 2017 and 30.0 percent in 2016.

Additionally, over 186 billion yuan was invested in fixed-assets, a staggering increase of 20.7 percent, and 10 percentage points higher than the provincial average. Total retail sales of consumer goods grew 7.4 percent, reaching 116 billion yuan.

Zhuhai also maintained strong growth in foreign trade as the total value of the city's imports and exports climbed 8.5 percent to 325 billion yuan. The actual absorption of foreign direct investment rose by 26.9 percent to 15.6 billion yuan.