GDP growth rate of Shanghai, China 2009-2019

In 2019, the gross domestic product (GDP) of Shanghai municipality in China increased by six percent from the previous year. Shanghai is the most populous city in China and has the largest GDP of all Chinese cities. It is located in Eastern China on the southern estuary at the mouth of the Yangtze river.

Development of GDP growth in Shanghai

As a bridgehead to global markets and a forerunner in market opening, Shanghai experienced a decades long economic boom, which massively changed the shape of the city. Economic growth rates had double digits for more than two decades since 1992 and were well above the Chinese national average. This changed fundamentally with the global financial crisis. In 2008, the growth rate fell below ten percent and gradually declined thereafter. Growth rates now got closer to the national average of GDP growth. While the economic development in Shanghai has already reached a high level, other regions in China are catching up, and growth rates in many inland regions of China are now higher than in Shanghai. This is especially true on a city level, with many second-tier cities experiencing higher growth rates than Shanghai.

Sector distribution of GDP growth

Upon closer examination of the distribution of GDP across economic sectors, it becomes obvious that the service sector of the economy exhibited the highest growth rates in recent years. In 2019, services already accounted for nearly 70 percent of the value added to the GDP, which is far above the national average. In contrast, the industrial sector, which had once been of great importance to Shanghai's economy, is losing momentum and its share in total economic output is shrinking constantly. Financial intermediation and information industries were branches in the service sector that displayed the fastest growth rates in recent years.

Annual growth rate of the gross domestic product (GDP) of Shanghai, China from 2009 to 2019

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Source

Release date

March 2020

Region

Asia, China

Survey time period

2009 to 2019

Supplementary notes

Figures apply to the whole administrative area of Shanghai municipality, not only the urban areas of Shanghai city.
Figures for earlier years have been taken from previous publications.

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