Aggregate economic output
The regional gross domestic product (GDP) in 2020 was 638.402 billion yuan, up 5.7% year on year at comparable prices. Of this total, the added value of the primary industry was 2.889 billion yuan, the secondary industry 251.984 billion yuan, and the tertiary industry 383.529 billion yuan. The per capita GDP calculated as per the permanent resident population was equivalent to exceed 20,000 US dollars. The public budget revenue of the city totaled 135.129 billion yuan, of which 78.394 billion yuan came from local fiscal revenue. The fiscal expenditure in 2020 was 97.691 billion yuan, an increase of 7.0%.
Price
The consumer prices in 2020 rose 2.5% over the previous year.
Industry
The added value of industries above designated-size in 2020 increased by 6.0%. By the end of 2020, there were 2,343 industrial enterprises above designated-size in the city.
MICE
Xiamen reaped economic benefits of 17.69 billion yuan ($2.73 billion) from its MICE industry – meetings, incentives, conferences and exhibitions sector last year. In 2020, the city hosted 113 large-scale exhibitions, including the 2020 CIFIT – or China International Fair for Investment and Trade – as well as the Straits Forum and the 2020 Xiamen Industry Expo, along with 3,289 conferences.
Domestic trade
Retail sales of consumer goods totaled 229.387 billion yuan in 2020, a year-on-year increase of 1.6%. Grouped by consumption patterns, retail sales of commodities reached 196.446 billion yuan, up by 2.6%, and catering revenue reached 32.941 billion yuan.
Foreign trade
The total value of imports and exports reached 691.577 billion yuan in 2020, a year-on-year increase of 7.8%, of which exports totaled 357.292 billion yuan, up 1.2%; imports totaled 334.285 billion yuan, up 16%. A total of 987 new foreign-invested projects were approved throughout the year, and paid-in foreign investment totaled 16.605 billion yuan, an increase of 23.8%. The service sector in Xiamen saw rapid development last year, with a total of 940 new enterprises settling in the city, attracting 10.82 billion yuan of FDI in 2020, rising 54.4 percent year-on-year and accounting for 65.2 percent of the city's total use of foreign investment.
