China GDP Growth Eases to 1.6% QoQ in Q1


In the first quarter of 2013, the Chinese economy expanded by 1.6 percent quarter-on-quarter and by 7.7 percent year-on-year, according to a report by the National bureau of Statistics of China.

According to the preliminary estimation, the gross domestic product of China in the first quarter of this year was 11,885.5 billion yuan. The gross domestic product went up by 1.6 percent on quarterly basis.

In the first quarter, the total value added of the industrial enterprises above designated size was up by 9.5 percent year-on-year, or 2.1 percentage points lower than that in the same period of last year and 0.5 percentage point lower than that in the year of 2012.
 
In the first quarter, the investment in fixed assets (excluding rural households) was 5,809.2 billion yuan, a year-on-year growth of 20.9 percent (a real growth of 20.7 percent after deducting price factors), the same growth with that in the same period of last year, or 0.3 percentage point higher than that in the year of 2012.
 
The total investment in real estate development was 1,313.3 billion yuan, a year-on-year growth of 20.2 percent (a real growth of 19.9 percent after deducting price factors), or 3.3 percentage points lower than that in the same period of 2012 and 4.0 percentage points higher than that in the previous year. Of this total, the investment in residential buildings went up by 21.1 percent, or 2.1 percentage points higher than that in the same period of 2012 and 9.7 percentage points higher than that in the previous year.
 
In the first quarter, the total retail sales of consumer goods reached 5,545.1 billion yuan, an increase of 12.4 percent (a real growth of 10.8 percent after deducting price factors), or 2.4 percentage points lower than that in the same period of last year and 1.9 percentage points lower than that in the year of 2012. Analyzed by different areas, the retail sales in urban areas reached 4,789.4 billion yuan, up by 12.2 percent, and that in rural areas stood at 755.7 billion yuan, up by 13.9 percent.
 
The total value of imports and exports in the first quarter was 974.7 billion US dollars, a year-on-year growth of 13.4 percent. The total value of exports was 508.9 billion US dollars, up by 18.4 percent; and that of imports was 465.8 billion US dollars, up by 8.4 percent. The trade surplus was 43.07 billion US dollars.

China GDP Growth Eases to 1.6% QoQ in Q1


NBS | Nuno Fontes | nuno@tradingeconomics.com
4/16/2013 11:15:22 AM