Growth in the 4th quarter of last year was 5.4%, above market expectations
China’s GDP (Gross Domestic Product) grew 5% in 2024, reaching the target set by the country’s government. In relation to the 4th quarter of last year, growth was 5.4%, above what the market predicted.
The information was for the (National Bureau of Statistics of China). The survey ( – PDF – 188 kB) shows that China’s total GDP in 2024 was 134.9 trillion yuan, around R$115.18 trillion.
Furthermore, the NBS reported that agricultural production grew 3.5% last year, with an aggregate value of 9.14 trillion yuan. Industry grew 5.3% in the same period, reaching 49.2 trillion yuan and the services sector grew 5% throughout the year, representing a value of 76.5 trillion yuan.
The CNE highlighted that the Chinese population reduced in 2024. At the end of the year, the total number of people in the country’s 31 provinces was 1.408 billion, a reduction of almost 1.4 million people.
The unemployment rate in China also showed a reduction. The percentage of unemployed people in 2024 was 5.1%, that is, 0.1 percentage points below 2023.
The DNE statement says that the Chinese government adopted, in 2024, policies to accelerate development, due to “complicated environment driven by increasing external pressure and internal difficulties”. According to the department, the economy remained stable with “continuous progress and high-quality development”.
The document reads: “Social confidence was effectively increased and the economy recovered satisfactorily. The main objectives of economic and social development have been successfully achieved”.
Despite this, the department cited the growth of “external adverse effects”. He says that, due to insufficient internal demands, “Some companies have difficulties in production and operation”. For the NBS, this means that China’s economy still faces “difficulties and challenges”.
