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Economic overview

2017-06-22 (chinadaily.com.cn)

The Inner Mongolia autonomous region has achieved steady economic development. Six key industries - energy, metallurgy and construction materials, agricultural and livestock products, chemicals, equipment and high technology - are playing a vital role in this development. 

The autonomous region's gross domestic product (GDP) totaled 1,863.26 billion yuan ($270.73 billion) in 2016, a year-on-year increase of 7.2 percent. The value added output of Inner Mongolia's primary industries for 2016 totaled 162.87 billion yuan, a 3 percent year-on-year increase. The value added output of the secondary industry was 907.89 billion yuan, a year-on-year increase of 6.9 percent, and the tertiary industry achieved 792.51 billion yuan, an 8.3 percent year-on-year increase.

Agriculturally, the total area sown in the region reached 7.95 million hectares, an increase of 5.0 percent from the previous year, with grain output at 27.80 million tons, a decrease of 1.7 percent. In animal husbandry, the region had 136 million head of livestock, with an added head livestock of 78.5 million head (57.8 percent). Meat production reached 0.72 million tons; milk, 7.34 million tons; and eggs, 0.58 million tons. 

The gross industrial added value reached 775.82 billion yuan ($112.73 billion), an increase of 7.2 percent from the previous year, of which industrial enterprises above designated size increased by 7.2 percent. 

The autonomous region's fixed investment reached 1,546.95 billion yuan ($224.77 billion) in 2016, an increase of 11.9 percent from the previous year. The investment for the primary industry reached 77.63 billion yuan, an increase of 11.6 percent; secondary industry, 649.58 billion yuan, decreasing by 1.2 percent; and the tertiary industry reached 819.74 billion yuan with an increase of 57.8 percent. 

The region's export-import business reached a value of 77.28 billion yuan ($11.23 billion), with exports and imports accounting for $4.29 billion and $6.94 billion respectively. In 2016, 50 new enterprises with direct foreign backing were also approved.