China GDP Annual Growth Rate

The Gross Domestic Product (GDP) in China expanded 7.40 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in China is reported by the National Bureau of Statistics of China. GDP Annual Growth Rate in China averaged 9.14 Percent from 1989 until 2014, reaching an all time high of 14.20 Percent in the fourth quarter of 1992 and a record low of 3.80 Percent in the fourth quarter of 1990. In China, Gross Domestic Product is divided by three sectors: Primary, Secondary and Tertiary. The Primary Industry includes Farming, Forestry, Animal Husbandry, and Fishery and accounts for around 9 percent of GDP. The Secondary sector, which includes Industry (40 percent of GDP) and Construction (9 percent of GDP) is the most important. The Tertiary sector accounts for the remaining 44 percent of total output and consist of Wholesale and Retail Trades; Transport, Storage, and Post; Financial Intermediation; Real Estate; Hotel and Catering Services and Others. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. 2014-04-18

Actual Previous Highest Lowest Forecast Dates Unit Frequency
7.40 7.70 14.20 3.80 7.40 | 2014/06 1989 - 2014 Percent Quarterly

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China GDP Annual Growth Rate
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CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2013-07-15 03:00 AM China
GDP Growth Rate YoY
Q2 2013 7.5% 7.7% 7.5% 7.51%
2013-10-18 03:00 AM China
GDP Growth Rate YoY
Q3 2013 7.8% 7.5% 7.8% 7.61%
2014-01-20 02:00 AM China
GDP Growth Rate YoY
Q4 2013 7.7% 7.8% 7.6% 7.5%
2014-04-16 03:00 AM China
GDP Growth Rate YoY
Q1 2014 7.4% 7.7% 7.3% 7.5%
2014-07-16 02:00 AM China
GDP Growth Rate YoY
Q2 2014 7.4% 7.4%
2014-10-21 02:00 AM China
GDP Growth Rate YoY
Q3 2014 7.59%
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GDP Last Previous Highest Lowest Forecast Unit
Gross Fixed Capital Formation 241756.80 2012-06-29 215682.00 241756.80 80.70 243937.80 2012-12-31 CNY HML [+]
Gross National Product 516282.10 2012-06-29 468562.40 516282.10 679.00 520586.64 2012-12-31 CNY HML [+]
GDP per capita 3348.01 2012-12-31 3120.93 3348.01 85.52 3566.43 2013-12-31 USD [+]
GDP per capita PPP 7957.62 2012-12-31 7417.89 7957.62 523.95 8490.65 2013-12-31 USD [+]
GDP Growth Rate 1.40 2014-02-15 1.70 2.60 1.40 2.06 2014-06-30 Percent [+]
GDP Annual Growth Rate 7.40 2014-03-31 7.70 14.20 3.80 7.40 2014-06-30 Percent [+]
GDP 8230.00 2012-12-31 7320.00 8230.00 46.50 9272.35 2013-12-31 USD Billion [+]
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Chinese GDP Growth Slows in Q1

China’s economy advanced 7.4 percent in the first quarter of 2014, slowing from a 7.7 percent expansion in the previous period, but beating market forecasts. It is the lowest growth since the third quarter of 2012, as exports and imports contracted and growth in fixed asset investment eased.

In the first quarter of 2014, industrial production growth rose to 7.3 percent yoy. Mining output advanced 3.3 percent,  manufacturing increased 9.9 percent and the production and supply of electricity, heat, gas and water went up by 4.5 percent. The value added of the state-owned and state holding enterprises rose by 4.5 percent; collective enterprises by 3.1 percent; share-holding enterprises by 10.0 percent and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan provinces by 7.8 percent.

The services sector advanced by 7.8 percent, with retail sales growing 12 percent. 

Investment in fixed assets advanced by 17.6 percent, below the 20.9 percent expansion in the first quarter of 2013 and exports and imports contracted by 1 percent. 

The value added of the primary industry went up by 3.5 percent. The planting area for rice increased 0.15 percent; wheat went down by 0.56 percent; corn rose by 1.75 percent and cotton fell by 6.77 percent. Total output of pork, beef, mutton and poultry reached rose 2 percent yoy.

Quarter-on-quarter, the GDP expanded 1.4 percent, compared with a revised 1.7 percent pace in the last three months of 2013. 

NBS | Joana Taborda | joana.taborda@tradingeconomics.com
4/16/2014 11:34:37 AM

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GDP Annual Growth Rate | Notes
The annual growth rate in Gross Domestic Product measures the increase in value of the goods and services produced by an economy over the period of a year. Therefore, unlike the commonly used quarterly GDP growth rate the annual GDP growth rate takes into account a full year of economic activity, thus avoiding the need to make any type of seasonal adjustment.


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