Home / Knowledge / News / Textiles / China's GDP increases 6.7 % in first half of 2016
China's GDP increases 6.7 % in first half of 2016
18
Jul '16
In the first half of 2016, the Chinese economy achieved a “moderate and steady” development with its Gross Domestic Product (GDP) showing a year-on-year increase of 6.7 % at comparable prices, the country's National Bureau of Statistics said on Friday.

Preliminary estimation showed at 34,063.7 billion yuan, the year-on-year GDP in the first half of 2016 was 6.7% higher at comparable prices. More specifically, the year-on-year growth of GDP in the first quarter was 6.7 % more than that in second quarter.

The GDP of the second quarter of 2016 went up by 1.8 % on a quarter-on-quarter base while agricultural production went down by 1.2 %.

However, general trade structure improved with the gap in the total value of exports and imports narrowing down and balance of trade showing a surplus of 1,672.0 billion yuan. This, despite the pace of growth at 3.3 % being slower than the 3.6% witnessed in the first quarter.

In June, the total value of imports and exports was 2,037.8 billion yuan, a year-on-year decrease of 0.3 %. Of this total, the value of exports was 1,174.5 billion yuan, up by 1.3 %; and that of imports was 863.3 billion yuan, down by 2.3 %.

General trade accounted for 56.4 % of the total value of imports and exports, an increase of 1.2 % points compared with the same period last year. Specifically, the export of general trade accounted for 55.7 % of the total value of exports – an increase of 1.3 % points.

Among the country's major exports were mechanical and electronic goods (57.2 %), followed by private enterprises (46.6 % -- an increase of 3.6 %).

The export to some the countries along the “Belt and Road” increased: Exports to Pakistan by 22.5 % while those to Russia, Bangladesh, India and Egypt increased by 16.6 %, 9.0 %, 7.8 % and 4.7 % respectively.

On the other hand, the import of certain bulk commodities continued to grow during the period. China imported 494 million tons of iron ore, an increase of 9.1 %; 187 million tons of crude oil (+14.2 %) ; coal 108 million tons (+8.2 %) and ; 2.74 million tons of copper (+22 %).

The value added of the primary industry at 2,209.7 billion yuan was up by 3.1 % while. The secondary industry (13,425.0 billion yuan, up by 6.1 %; while the tertiary industry at 18,429.0 billion yuan, was up by 7.5 %.

Meanwhile, the total retail sales of consumer goods reached 15,613.8 billion yuan, a nominal year-on-year rise of 10.3 % (a real growth of 9.7 % after deducting price factors), growing at the same speed as the first quarter.

Specifically, the retail sales of the enterprises above the designated size stood at 7,107.5 billion yuan, up by 7.5 %. Analyzed by different areas, the retail sales in urban areas reached 13,424.9 billion yuan, up by 10.2 %, and the retail sales in rural areas stood at 2,188.9 billion yuan, up by 11.0 %.


Must ReadView All

Indian apparel exporters losing competitiveness by 9%: AEPC

Apparel/Garments | On 24th Nov 2017

Indian apparel exporters losing competitiveness by 9%: AEPC

Indian apparel exporters want a higher reimbursement of central and...

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Apparel/Garments | On 24th Nov 2017

Chinese e-commerce firm JD.com invests $44 mn in Tiki.vn

Chinese e-commerce firm JD.com has invested $44 million in Tiki.vn, a ...

Vietnamese footwear exporters need to prepare for EV-FTA

Apparel/Garments | On 24th Nov 2017

Vietnamese footwear exporters need to prepare for EV-FTA

Vietnamese leather and footwear exporters must comply with the...

Interviews View All

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

November 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.5%
No
12.4%
Skip
19.1%

Total Votes: 89

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.8%
No
30.3%
Skip
7.9%

Total Votes: 89

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
86.5%
No
10.1%
Skip
3.4%

Total Votes: 89

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
80.9%
No
9.0%
Skip
10.1%

Total Votes: 89


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search