In 2023, China’s GDP composition showcased Services as the leading sector, contributing a significant 35.35%, followed closely by Mining, Manufacturing, and Utilities at 33.31%. Wholesale, retail trade, restaurants, and hotels accounted for 11.34%, while Agriculture, hunting, forestry, and fishing contributed 8.86%. Construction added 6.66%, and Transport, storage, and communication made up 4.48% of the GDP. In recent years, there has been a notable shift towards Services, aligning with global trends of economic transition towards service-oriented economies. The average annual growth rate (CAGR) over the past five years indicates a steady shift towards Services and technology-driven sectors.
Future trends to watch include:
- Continuous growth in the Services sector, driven by technology, finance, and consumer services.
- Potential fluctuations in Mining, Manufacturing, and Utilities due to global economic conditions and energy transitions.
- Growth opportunities in Wholesale and retail trade, bolstered by e-commerce expansion.
- The impact of green technology initiatives on Agriculture and Construction sectors.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 35.35 | 2016 | |
| 2 | 2 Mining, Manufacturing, Utilities | 33.31 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 11.34 | 2016 | |
| 4 | 4 Agriculture, hunting, forestry, fishing | 8.86 | 2016 | |
| 5 | 5 Construction | 6.66 | 2016 | |
| 6 | 6 Transport, storage and communication | 4.48 | 2016 |
