China confirms +8.1% GDP 2021

The National Bureau of Statistics of China (NBS) released preliminary figures about the gross domestic product growth in the fourth quarter of 2021 and the performance of the full-year 2021.

According to the preliminary estimates, Chinese GDP in the last quarter grew by 4%, leading to full-year growth of 8.1%. The GDP was equal to CNY 114,367 billion (around USD 18,012 billion at the current exchange rate), with secondary and tertiary industries accounting for 40% and 53%.

The estimated growth is 0.1 points higher than the forecast of 8.0% released by the International Monetary Fund in its World Economic Outlook last October.

GDP in the first quarter surged 18.3% compared to the first quarter 2020, 7.9% in the second quarter, and 4.9% in the third quarter.

The International Monetary Fund estimates a 5.6% growth for the Chinese economy in 2022.