Qingdao's GDP hits 1.58t yuan in 2023

Qingdao's GDP hit 1.58 trillion yuan ($219.44 billion) in 2023, an increase of 5.9 percent compared to 2022.

The added value of the city's primary, secondary and tertiary industries hit 42.28 billion yuan, 526.84 billion yuan, and 999.92 billion yuan, respectively, in 2023, increases of 4.1 percent, 5.6 percent, and 6.1 percent.

The total output value of Qingdao's agriculture, forestry, animal husbandry, and fishing industries for the whole year reached 95.59 billion yuan, an increase of 5 percent over the previous year.

The added value of the city's industries above designated size increased by 5.8 percent over the previous year. Among 35 major industry categories, 21 saw growth in 2023.

The added value of the service industry increased by 6.1 percent compared to the previous year. The restorative service sector rebounded quickly, with the accommodation and catering industry's added value growing by 17.5 percent.

Qingdao saw its total retail sales of consumer goods reach 631.89 billion yuan, an increase of 7.3 percent over the previous year.

Statistics also show that Qingdao's fixed-asset investment rose 5 percent in 2023 compared to the previous year. Investment in infrastructure, high-tech industries, strategic emerging industries, and manufacturing increased by 38 percent, 27.6 percent, 24.5 percent, and 10.8 percent, respectively.

The total value of the city's imports and exports reached 875.97 billion yuan, an increase of 4.6 percent compared to the previous year. Specifically, exports amounted to 471.36 billion yuan, growing 0.3 percent, while imports reached 404.61 billion yuan, soaring 10.1 percent compared to the previous year.

Qingdao's general public budget revenue reached 133.78 billion yuan, an increase of 5.1 percent over the previous year, with tax revenue amounting to 100.6 billion yuan.

The per capita disposable income of urban and rural residents in Qingdao reached 65,751 yuan and 29,736 yuan, respectively, increases of 5.1 percent and 7.3 percent over the previous year. A total of 368,000 urban jobs were created.