Economic Overview

Updated: 2020-08-21

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Guangxi's economic status in 2020

The region's GDP was 1.02 trillion yuan, an increase of 0.8 percent year-on-year. The added value of the primary industry increased by 2.9 percent year-on-year, the added value of the secondary industry decreased by 3 percent (with the rate of decline narrowed by 7 percentage points from the first quarter) and the added value of the tertiary industry rose by 2.8 percent year-on-year.

I. Steady development in agriculture and animal husbandry

The added value of the agriculture, forestry, animal husbandry, and fisheries industries of the region increased by 3 percent year-on-year in the first half of the year. The increase was 1.1 percentage points higher than in the first quarter of 2020.

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II. Industry

In the first half of the year, the added value of industries above designated size in the region dropped by 3.1 percent year-on-year, with the decreasing amplitude narrowed by 5.7 percentage points from the first quarter.

From the perspective of industry categories:

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From the perspective of product types:

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III. Service industry

In the first half of the year, the added value of the tertiary industry in the region increased by 2.8 percent year-on-year. Of this total, the added value of the financial industry was up 7.7 percent, the accommodation and catering industry and the transportation, warehousing and postal services industry decreased by 28.9 percent and 7.5 percent respectively, and the wholesale and retail industry fell 2.1 percent. However, the operating income of the internet and related services, as well as software and information technology services, increased 1.4 times and 44.3 percent year-on-year respectively.