Xi'an's GDP in 2022 hits 1.15t yuan

Xi'an, capital of Northwest China's Shaanxi province, continues to go from strength to strength and last year saw the trend of stabilization and improvements of its economic and social development.

The city's domestic gross product (GDP) increased in 2022 by 4.4 percent year-on-year to 1.15 trillion yuan ($169.63 billion).

The added values of the primary, secondary and tertiary industries were 32.36 billion yuan, 407.16 billion yuan and 709.14 billion yuan, respectively – increasing by 3.7 percent, 10.7 percent and 1.3 percent.

Statistics showed that Xi'an experienced strong industrial growth in 2022, with strong support from the equipment manufacturing industry. The added value of industries above a designated size grew by 13.9 percent over the previous year.

Of that, the total output value of the equipment manufacturing industry increased by 29.2 percent on the previous year – 5.8 percentage points higher than the growth rate of the city's total added value of industries above a designated size.

The added value of the city's service industry rose by 1.3 percent – with that of the information transmission, software and information technology service industry and the financial industry increasing by 8.6 percent and 6.5 percent, respectively.

Throughout the year, the city's fixed asset investment (excluding rural households) experienced a year-on-year increase of 10.5 percent.

Total retail sales of social consumer goods, however, dropped by 5.2 percent to 464.21 billion yuan, although the rate of decline narrowed by 1.1 percentage points compared with the previous three quarters.

In 2022, the city's total foreign trade amounted to 447.41 billion yuan, an increase of 0.8 percent over the previous year. Of that, exports jumped to 280.15 billion yuan, an increase of 17.3 percent, while imports came in at 167.26 billion yuan, a decrease of 18.4 percent.