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Hubei demographic analysis and economy overview
Total population of Hubei province has decreased
from 58.7 million in 1997 to 57 million in 2007,
reflecting a decrease of 2.9% over the years. In
2006, there are approximately 24.9 million urban
residents, constituting to 43.8% of the total
population while the rural population makes up 43.8%
of the total population with a population of 32
million people. The minorities account for
approximately 4.34% of the total population.
Below is the chart of Hubei total population and trends from year 1997 - 2008:
Due to years of economic reform, Hubei’s economy has
been progressing rapidly. Nominal GDP of Hubei
province has increased from 345 RMB billion in 1997
to 923.1 RMB billion in 2007, representing a 2.7
time growth over a period of ten years. There is
growth is both domestic and international trade of
the province. The growth rate of imports and exports is
ranked fourth in the whole of China and first in
Central China, reflecting the progress Hubei has
been making with the opening up of the economy.
Total imports and exports of Hubei have reached
US$14.9 billion in 2007, up 26.6% from the previous
year.
Below is the chart of nominal GDP and trends of Hubei province from year 1997 - 2008:
GDP per capita of
Hubei has climbed from 5, 900 RMB in 1997 to 16, 000 RMB in 2007,
representing a 2.8 times increase over the years. In 2007, disposable
income per capita of urban residents has reached 11,500 RMB, up 17.2% from
the previous year. Comparing among the cities in the Hubei province, Wuhan
(capital of Hubei province) has the highest GDP per capita of 35, 580 RMB,
followed by Huangshi with a GDP per capita of 35, 260 RMB.
Below is the chart of Hubei nominal GDP per capita and trends from year 1997 - 2008:
Hubei province is
a key logistic, financial and education center of Central China. In 2007,
the service sector of Hubei province constitutes to 42% to the GDP, thus
forming the major portion of the total GDP of the province. Subsequently,
the manufacturing sector constitutes to 37% of the total GDP. The pillar
industries of Hubei province include: auto making, machine-building,
metallurgy, chemical, light and textile, building materials and construction
industries. Besides, Hubei is one of China’s most important production bases
for grain, cotton and oil crops. Its agricultural sector makes up 15% of the
GDP.
Below is the chart of Hubei GDP by agricultural sector, manufacturing sector, construction sector
and service sector for the year 2008:
Hubei’s total
investment in fixed assets have surged from 102 RMB billion in 1997 to 433
RMB billion in 2007, representing a 4.2 times leap over a period of ten
years. Multi-national organizations such as Coca-Cola, Mc Donald, Siemens,
Philips and NEC have invested in Hubei. In recent years, hi tech and
tertiary industries have been growing rapidly, bringing tremendous
opportunities for investors to invest in Hubei. Furthermore, there are plans
to further upgrade exiting industries such as steel, textile and
petrochemicals industries.
Below is the chart of Hubei total investment in fixed assets and trends from year 1997 - 2008:
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