4.2 China’s GDP, its sectoral makeup
China’s total GDP was $19.373 trillion at the start of 2023. Predominant sectors are Manufacturing, Construction, and Services. Agriculture, Forestry, and Fishing are not so predominant sectors in China. In the year 2022, the primary sector made a significant contribution of approximately 7.3 percent to China’s overall Gross Domestic Product (GDP). The primary sector, also referred to as primary industries, is primarily engaged in the direct extraction and collection of natural resources from the environment. This category encompasses activities related to the initial harvesting and production of raw materials, including but not limited to agriculture, forestry, mining, fishing, and other resource-related endeavors. During the year 2022, the secondary sector played a substantial role in China’s GDP, accounting for about 39.9 percent. The secondary sector, commonly known as secondary industries, encompasses businesses and activities that are involved in the transformation of raw materials or intermediate goods, which are initially produced by primary industries, into finished products. This sector includes manufacturing, construction, as well as various forms of processing and assembly.
Tertiary Sector’s Share of China’s GDP in 2022: In 2022, the service sector made a significant contribution of approximately 52.8 percent to China’s Gross Domestic Product (GDP). The tertiary industry, also recognized as the service sector, primarily involves the provision of services rather than the production of tangible goods. It encompasses a wide array of services, including but not limited to retail, education, healthcare, finance, hospitality, and entertainment.
Figure 1: Gross domestic product (GDP) distribution in China’s economic sectors from 2012 to 2022
Figure 2: Real gross domestic product (GDP) growth rate in China from 2012 to 2022 with projections through 2028
https://www.statista.com/statistics/263616/gross-domestic-product-gdp-growth-rate-in-china
Total GDP growth rate of China for 2023 was 5.01% . The growth rate of its primary industry for the second quarter of 2023 is 3.7% on a quarterly basis. The growth rate of its secondary industry for the second quarter of 2023 is 5.2% on a quarterly basis. The growth rate of its teritiary industry for the second quarter of 2023 is 7.4 % on a quarterly basis.
