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Tibet’s GDP maintains positive growth in first quarter of 2020

2020-05-09 09:05:00China Tibet Online

On April 29, the Tibet Survey Corps of the Chinese National Bureau of Statistics and the Statistics Bureau of the Tibet Autonomous Region jointly released a report on economic operations in Tibet for the first quarter. The data shows the region's GDP is 38.458 billion yuan (5.4 billion US dollars), with a year-on-year growth by 1.0%.

The report shows that in the first quarter of this year, the production of Tibet’s service industry declined, and the added value of tertiary industries fell by 1.7 percent compared with last year. However, the added value of the financial industry increased by 7.6 percent. From January to February, due to the epidemic, production and operation activities of most businesses in the service industry could not be carried out normally, and the operating income of service businesses of a certain size fell by 37.7 percent.

However, the epidemic did not inhibit the development of the emerging service industry. In the first quarter, the operating revenue of emerging service industries such as the handling and warehouse industries, total telecommunications businesses, multimodal transport and transportation agencies grew rapidly, with growth of 3.5 times, 73.6 percent, 33.3 percent that of the previous year respectively, and the income of delivery business increased by 1.3 percent.

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