China GDP by industry

 

By 2005 the growth rate of the agricultural sector was at a slow 10.9% as the country move rapidly into the new economy which relied heavily on new technologies and services. The share of tertiary industry thus grew by 15.1% as services sectors proliferated. Manufacturing grew slightly faster than GDP over the period as a whole--though in recent years it has tended to grow more rapidly--so the share of the secondary sector rose relatively slowly, by 9.2% in 2005 though its share actually rose in 2002-2004 during the manufacturing boom.

 

USD in billion

 

 

The share of primary industry in GDP has fallen from 28% in 1978, at the beginning of the reform period, to 12% in 2005. This fall occurred because agricultural output grew more slowly than output

of other economic sectors. Close to half of the GDP came from the manufacturing industry which maintained the countries international status as the world factory due to its competitive human labor and abundance in land and raw material. Service industry caught up in recent years and in 2005

posted a healthy share of 39%.

 

This was mainly contributed by the fast development and growth of consumer markets in the more developed cities especially around the 2 delta region, Pearl River Delta Region in the Guangzhou area and the Yangtze River Delta Region in the Shanghai area. However China’s share still lagged behind the world average of 64% and average developing countries which stood at an average of 45%. This suggest that China still have a long road to reach the developed nation tag as its heavy reliance on the manufacturing industry is still what drove most FDIs into the nation.