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Guangxi records 4.1% GDP growth in 2023

Updated: Jan 24, 2024 Print
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Guangxi Zhuang autonomous region achieved a total GDP of 2.72 trillion yuan ($380.32 billion) in 2023, an increase of 4.1 percent over the previous year, according to the economic operation data released on Jan 21, 2023. 

The added value of the primary industry increased by 4.7 percent to 446.82 billion yuan, compared to the previous year. The added value of the secondary industry was 892.41 billion yuan, which represents a 3.2 percent growth. In contrast, the tertiary sector's added value was 1.38 trillion yuan, showing an increase of 4.4 percent.

The added value of large-scale industries increased by 6.6 percent over the previous year, with the added value of the electrical machinery and equipment manufacturing industry increasing by 89 percent. The operating income of large-scale high-tech service enterprises increased by 19.4 percent year-on-year, with e-commerce services rising by 36 percent and information services increasing by 25.8 percent.

Total retail sales of consumer goods went up by 1.3 percent, with the retail sales of new energy vehicles surging by 35.8 percent, driving a 2.8 percentage point increase in the total retail sales of consumer goods above the designated size.

Total import and export volume of foreign trade last year hit 693.65 billion yuan, an increase of 7.3 percent. Specifically, exports amounted to 363.95 billion yuan, an increase of 1.5 percent, while imports climbed 14.6 percent to 329.7 billion yuan. 

Regarding trade methods, general trade import and export increased by 7.6 percent, and border small-scale trade increased by 5.9 percent. Imports and exports to other RCEP member countries, ASEAN, Africa, and the European Union increased by 23.7 percent, 22.8 percent, 27.2 percent, and 12.9 percent, respectively. Imports and exports of State-owned enterprises increased by 17.2 percent, while private enterprises increased by 7.5 percent. 

Expenditure in improving people's livelihood reached 484.88 billion yuan, accounting for 79.5 percent of the total spending of the general public budget. Health, social security, employment, and education expenditures increased by 12.5 percent, 9.0 percent, and 4.9 percent, respectively.

The per capita disposable income of residents in the region was 29,514 yuan, a nominal increase of 5.5 percent over the previous year, exceeding the economic growth rate.

Several new urban jobs created during the year were 399,000, with 118,400 unemployed persons and 45,500 persons with employment difficulties finding jobs.

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