China revises 2021 GDP growth up to 8.4% from 8.1%
12:02 am Tuesday, December 27th, 2022
BEIJING (Reuters) -China has revised up its estimate of 2021 gross domestic product (GDP) growth to 8.4% from 8.1% previously, the National Bureau of Statistics said on Tuesday.
China routinely revises its annual GDP data.
The size of GDP was also revised, to 114.92 trillion yuan ($16.51 trillion) from 114.37 trillion yuan, the statistics bureau said in a statement on its website.
Final data from the bureau shows the services sector, accounting for 53% of China’s GDP, was 8.5% larger in 2021 than a year earlier. In the bureau’s initial estimates, the sector had expanded 8.2%.
The secondary sector – manufacturing and construction, which accounted for 39% of GDP – grew 8.7% in 2021. That compared with the bureau’s initial estimate of an 8.2% increase.
The economy, the world’s second-largest, grew 3% in the first nine months of 2022.
The World Bank has cut its forecast for China’s 2022 economic growth in 2022 to 2.7%, well below the official target of around 5.5%.
($1 = 6.9601 Chinese yuan renminbi)
(Reporting by Kevin Yao; Editing by Muralikumar Anantharaman and Bradley Perrett)
