Zhejiang's GDP reached 9.45 trillion yuan (about $1.37 trillion) in 2025, growing by 5.5 percent year-on-year, according to data released on Jan 21 by the Zhejiang Provincial Bureau of Statistics.

The primary industry generated an added value of 265.7 billion yuan, up 3.9 percent year-on-year, while the secondary industry contributed 3.57 trillion yuan, an increase of 5.1 percent. The tertiary industry recorded an added value of 5.62 trillion yuan, growing by 5.8 percent and accounting for the largest share of economic expansion.

The service sector remained the main growth driver. In 2025, service sector value added rose 5.8 percent year-on-year and contributed 61.3 percent of overall GDP growth. Information transmission, software, and information technology services expanded 9.6 percent, while financial services and wholesale and retail trade grew 7.9 percent and 7.6 percent, respectively.

Consumption showed steady recovery. Total retail sales of consumer goods reached 3.92 trillion yuan, up 4.0 percent year-on-year. Retail sales of goods increased 3.9 percent, while catering revenue rose 5.1 percent.

Foreign trade demonstrated resilience. Total imports and exports amounted to 5.55 trillion yuan, up 5.4 percent year-on-year. Exports climbed 7.2 percent to 4.19 trillion yuan, while imports edged up 0.3 percent to 1.36 trillion yuan.

Market vitality continued to improve. In 2025, Zhejiang registered about 1.65 million new enterprises and individual businesses. By year-end, the province had 11.64 million registered market entities, up 6.3 percent year-on-year, of which private enterprises and individual businesses accounted for 96.8 percent.

Income growth remained steady, with the urban-rural gap narrowing further. Per capita disposable income for all residents reached 70,240 yuan, up 4.8 percent in nominal terms. Urban and rural residents recorded per capita disposable incomes of 81,649 yuan and 45,154 yuan, up 4.3 percent and 5.5 percent, respectively. The urban-rural income ratio narrowed to 1.81.

Employment remained stable. Zhejiang added 1.16 million urban jobs in 2025, exceeding the annual target of 1 million. The average surveyed urban unemployment rate stood at 4.6 percent, well below the national average of 5.2 percent.