Qingdao's GDP reaches 374.35 billion yuan in the first quarter of this year, a year-on-year increase of 5.9 percent. [Photo/WeChat account: : qd12301]

Qingdao's GDP reached 374.35 billion yuan ($51.67 billion) in the first quarter of this year, a year-on-year increase of 5.9 percent, official statistics showed on April 25.

The value added of the primary industry was 3.68 billion yuan, an increase of 4 percent year-on-year, that of the secondary industry was 117.81 billion yuan, an 8.4 percent rise year-on-year, and that of the tertiary industry was 252.86 billion yuan, growing by 4.7 percent year-on-year.

During this period, the added value of industrial enterprises above designated size across the city increased by 10.0 percent year-on-year, 4.2 percentage points higher than in 2023. The added value of the city service industry increased by 4.7 percent year-on-year, accounting for 67.5 percent of the city's total GDP and 53.5 percent of its economic growth.

The total retail sales of consumer goods in the city reached 139.56 billion yuan in the first quarter, marking a 7.0 percent year-on-year increase.

The total value of imports and exports in the city rose 4.8 percent year-on-year to 205.98 billion yuan in the first quarter. The city's exports totaled 119.1 billion yuan, a 10.4 percent year-on-year increase, and its imports were valued at 86.88 billion yuan, a 1.9 percent decrease. General trade imports and exports reached 146.15 billion yuan, a 13.8 percent year-on-year increase, accounting for 71 percent of the total value of imports and exports and increasing by 5.6 percentage points compared to the same period last year.