In January-March 2023, the Chinese economy grew 4.5% annually. In this respect Wrote Reuters cites data from the country’s State Statistics Service. Growth for the quarter was 2.2%.
As stated in the publication, industrial production volume in China increased by 3.9% year-on-year in March. In January and February, this figure was 2.4%. Retail sales grew significantly – from 10.6% in March, but only 3.5% in January-February.
However, there is a slowdown in investments. While the growth was 5.5 percent in the first two months of the year, it is now 5.1 percent annually.
In 2022, China’s annual GDP increased by 3% to approximately 121,020.7 trillion yuan (about $18 trillion).
While the BRICS countries (Brazil, Russia, India, China and South Africa) are expected to provide 32.1% of the global economic growth in 2023, the G7 countries (England, Germany, Italy, Canada, France, Japan and the USA) are only 29.9%. will provide, Wrote Its former name was Bloomberg.
Previously, the IMF raised Russia’s 2023 GDP growth forecast to 0.7%, worsening its growth prospects for 2024 to 1.3%.