Hainan GDP exceeds $85.6 billion in 2020

The GDP of South China's island province of Hainan stood at 553.2 billion yuan ($85.6 billion) in 2020, an increase of 3.5 percent year-on-year, according to Wang Yu, deputy head of the Hainan Provincial Bureau of Statistics, at an economic performance conference held on Jan 21.

Through a series of measures, the province's investment and consumption levels continue to improve, its agricultural production grows steadily, its service industry picks up recovery speed, and its price levels are stable, according to Wang, saying that the economic performance has returned to stability and is seeing an overall improvement.

In terms of industries, the added value of the primary industry was 113.6 billion yuan, up by 2 percent; the added value of the secondary industry was 105.5 billion yuan, a decrease of 1.2 percent; the added value of the tertiary industry stood at 334.1 billion yuan, a growth of 5.7 percent year-on-year.

In 2020, the added value of industries above designated size in Hainan dropped by 4.5 percent from the previous year. However, the added value of the construction industry increased by 3.7 percent over the previous year, becoming the main driving force of the growth of the secondary industry.

The total retail sales of consumer goods in Hainan during 2020 hit 197.4 billion yuan, an increase of 1.2 percent over 2019. In 2020, the total number of tourists that the province hosted was 64.6 million, and the total tourism revenue reached 87.3 billion yuan. These were restored to 77.7 percent and 82.5 percent of the previous year respectively.

The year 2020 also saw the province's total import and export of goods trade reach 93.3 billion yuan, climbing by 3 percent over the previous year. Of this, the imports volume stood at 65.7 billion yuan, an increase of 16.8 percent, while the exports of goods dropped to 27.64 billion yuan, a decrease of 19.6 percent.

In 2020, the province's actual use of foreign capital exceeded $3 billion, a year-on-year increase of 100.7 percent.

Wang Yu, deputy head of Hainan Provincial Bureau of Statistics, outlines Hainan's economic performance at a conference held on Jan 21.[Photo/WeChat account Hainan Publish]