Guangdong province GDP doubles in five years

6 February 2006

Guangzhou, China, 06 Feb – The Gross Domestic Product (GDP) of the Chinese province of Guangdong has doubled over the last five years having reached US$264.8 billion in 2005, an annual increase of 12.5 percent, according to official figures published Monday.

The provincial statistics department said that as well as 2005 having been the first year that the province’s GDP passed 2 billion yuan it was also the year in which the GDP doubled just five years after it had passed the 1 billion yuan mark.
The province’s economic growth, according to the statistics department, can be attributed to three factors, consumption, investment and exports.

In 2005, retail of consumer goods totaled 788.3 billion yuan, an annual increase of 15 percent.

Also in 2005, Guangdong topped the ranking of Chinese provinces to export high technology products, exporting US$83.58 billion, or 35 percent of the province’s entire exports.

Direct foreign investment in the province totaled US$11.35 billion in 2005.

Guangdong province covers an area of 180,000 square kilometers and around 75 million inhabitants. (macauhub)