Marine sector responsible for 10% of GDP in 2006

Posted by Reading Time: < 1 minute

China’s marine sector contributed US$272 billion or 10.01 percent of the country’s gross domestic product (GDP) last year according to a report on the nation’s marine economy in 2006.

The report, issued by the State Oceanic Administration (SOA), said that last year’s output value of marine industries – fishing, transport, oil and gas exploitation, tourism and shipbuilding – rose 13.97 percent year on year. That growth rate was 3.3 percentage points higher than that of China’s overall economy.

According to the report, the sector grew steadily, with the output value of shipbuilding, oil and natural gas exploitation and coastal tourism increasing by more than 17.5 percent and it employed 29.6 million people, 1.8 million more than 2005. The output value of the marine industries increased at an annual rate of 18 percent from 930 billion yuan in 2001 to 1.8 trillion yuan in 2005.

China has over four million square kilometers of sea area, with more than 1,400 harbors and 210,000 cargo ships.