Chinese Economy Slows in Q4 of 2013


In the fourth quarter of 2013, China’s GDP advanced 7.7 percent over a year earlier, slowing from 7.8 percent in the previous quarter, but beating market expectations. The economy expanded 7.7 percent in 2013, the same rate recorded in 2012 and higher than the official target of 7.5 percent.

The total grain output in 2013 rose 2.1 percent. The total output of pork, beef, mutton and poultry in 2013 increased 1.8 percent; the output of poultry eggs 0.5 percent, and cow milk decreased 5.7 percent.

Industrial production in 2013 was up by 9.7 percent at comparable prices. Production in state-owned and state holding enterprises went up by 6.9 percent; collective enterprises rose by 4.3 percent; share-holding enterprises by 11.0 percent; and enterprises funded by foreign investors or investors from Hong Kong, Macao and Taiwan province by 8.3 percent. 

The growth for mining industry was up by 6.4 percent year-on-year; manufacturing up by 10.5 percent; and the production and supply of electricity, gas and water up by 6.8 percent. 

Investment in fixed assets (excluding rural households) grew 19.6 percent (a real growth of 19.2 percent after deducting price factors). Specifically, the investment in the state-owned and state holding enterprises rose 16.3 percent; private investment went up by 23.1 percent, accounting for 63 percent of the total investment. The investment in the primary industry increased 32.5 percent; the secondary industry expanded 17.4 percent; and the tertiary industry 21.0 percent.

Total investment in real estate showed a nominal annual growth of 19.8 percent (a real growth of 19.4 percent after deducting price factors). In particular, the investment in residential buildings went up by 19.4 percent.

Total retail sales of consumer goods showed a nominal annual rise of 13.1 percent (a real growth of 11.5 percent after deducting price factors).

The total value of imports and exports in 2013 was 4,160.3 billion US dollars, an annual increase of 7.6 percent. The total value of exports was 2,210.0 billion dollars, up by 7.9 percent; the total value of imports was 1,950.3 billion dollars, a year-on-year increase of 7.3 percent.

Chinese Economy Slows in Q4 of 2013


NBS | Joana Taborda | joana.taborda@tradingeconomics.com
1/20/2014 9:11:18 AM