The Strategist

China's GDP grows by 5.2 percent

10/18/2023 - 07:23

China's GDP grew by 5.2 percent in the first three quarters of 2023, according to the People's Republic of China Statistics Bureau.

China's national statistics office released figures that showed the country's gross domestic product (GDP) increased 5.2% year over year in the first three quarters of 2023.

Preliminary data indicates that China's GDP for the first three quarters of 2023 was 91.302 trillion yuan ($12.5 trillion), representing an annual growth rate of 5.2%.

The official forecast is that China's GDP will expand by about 5% in 2023. At that, experts are more positive about the nation's economic growth.

With multiple regional coronavirus outbreaks and an unsettling global environment, China's GDP expanded by 3% at the end of 2022 compared to 2021, less than the official estimate of roughly 5.5%. The GDP was valued at $17.95 trillion, or 121.02 trillion yuan.