Guangdong achieved a GDP growth rate of 4.0% year-on-year (YOY) in the first quarter, surpassing 3 trillion yuan. The added value of the primary industry reached 103.91 billion yuan, an increase of 4.1%. Meanwhile, the secondary industry added value was 1.114 trillion yuan, a growth of 2.4%, and the tertiary industry added value was 1.7998 trillion yuan, a growth of 5.0%.
These figures demonstrate that Guangdong has made an excellent start to the year by promoting economic growth and stabilizing key economic indicators.
Coordinated development of the first, second, and tertiary industries
In the first quarter, the three industries in Guangdong progressed in a coordinated manner, with the agricultural sector maintaining steady growth, the industrial sector picking up pace, the and service sector recovering rapidly. In terms of agriculture, Guangdong's vegetable and mushroom production increased by 2.6% year-on-year, and its garden and fruit production rose by 2.5%.
As a crucial economic pillar, the industrial sector achieved a positive growth rate, with the added value of Guangdong's major industrial enterprises amounting to 0.9 trillion yuan, an increase of 1.4% year-on-year, and the growth rate was 2.9 percentage points higher than that of January-February.
The tertiary industry also showed a more pronounced recovery, with the added value of the service sector in Guangdong increasing by 5.0% year-on-year, which helped to raise its contribution to economic growth from 0.7% in 2021 to 3.0% in the first quarter of 2022. The volumes of passenger and cargo grew by 48.4% and 65.8%, respectively, representing an increase of 22.2% and 27.2% compared to those of January-February. Among the various industries in the service sector, the value added of the accommodation and catering industry had the highest growth rate, up by 13.9%.
New engines for development: fixed-asset investment and the added value of advanced manufacturing
The province's fixed-asset investment increased by 7.4% year-on-year, which was 2.7 percentage points higher than that of January-February and 10 percentage points higher than that of 2021.
The added value of Guangdong's advanced manufacturing industry increased by 1.1% year-on-year, accounting for 55.0% of the added value generated by Guangdong's major industries. Among them, the growth rates of new energy equipment, intelligent manufacturing equipment, and intelligent energy-saving home appliances were 21.8%, 9.5%, and 7.5%, respectively.The investment in high-tech manufacturing and advanced manufacturing in the province grew by 35.1% and 30.5%, respectively.
Retail sales of consumer goods up by 5.1% YOY
The total retail sales of consumer goods in Guangdong reached 1.18 trillion yuan, an increase of 5.1% year-on-year, which was 3.3 percentage points higher than that of January-February. The retail sales of consumer goods in urban and rural areas increased by 4.1% and 12.8%, respectively. In terms of consumption sectors, the fastest-growing sector was catering, with an increase of 31.4%.
The mild price conditions created a favorable environment for consumption. The Consumer Price Index (CPI) for Guangdong residents rose by 1.4% year-on-year, which was 0.3 percentage points lower than that of January-February. Both the Producer Price Index (PPI) and the Purchasing Price Index (IPI) for industrial producers in Guangdong decreased by 0.1%.
The per capita disposable income of Guangdong residents reached 13,867 yuan, a year-on-year increase of 3.8%; after price factors were excluded, the real growth was 2.4%.
一季度，广东实现地区生产总值 30178.23亿元，同比增长4.0%。其中，第一产业增加值1039.06 亿元，增长4.1%;第二产业增加值11141.35亿元，增长2.4%;第三产业增加值17997.83亿元，增长5.0%。
温和的物价条件为消费创造了良好的氛围，一季度，广东居民消费价格指数(CPI)同比上涨1.4%，涨幅比1-2 月回落0.3个百分点。一季度，广东工业生产者出厂价格指数（PPI）下降 0.1%，工业生产者购进价格指数（IPI）下降 0.1%。
文｜羊城晚报全媒体记者 陈泽云 许张超
通讯员 马佳 徐可 魏胜广