Xiamen's GDP in 2017 totaled $435.1 billion yuan
Xiamen's GDP in 2017 totaled $435.1 billion yuan ($69.2 billion), representing an increase of 7.6 percent. The added value of the primary industry was 2.3 billion yuan, growing by 2.1 percent; that of the secondary industry was 181.6 billion yuan, increasing by 7.2 percent; that of the tertiary industry was 251.2 billion yuan, up 7.9 percent. The ratio of the primary to secondary to tertiary industry was 0.5:41.7:57.8.
The mainstream industries in Xiamen include the six pillar industries of electronics, machinery, shipping and logistics, MICE, finance and commerce and software and information services, and six emerging industries, namely information technology, biology and new medicines, new materials, energy conservation and environmental science, marine high-tech industry and cultural and creative industry.
The finance and insurance sector, profit-making sector and the wholesale and retail sector are still the main sectors for the tertiary industry. In 2017, three sectors contributed to 63.8 percent of the added value growth of the tertiary industry.
During the same period, the added value of the three sectors increased by 8.0 percent, 11.3 percent and 8.1 percent to 49.14 billion yuan, 45.29 billion yuan and 40.96 billion yuan respectively.
In 2017, the output value of the industrial establishments with annual sales income exceeding 20 million yuan reached 591.50 billion yuan.
In 2017, the output generated by the two pillar industries – machinery and electronics – rose by 11.8 percent to 403.13 billion yuan, accounting for 68.2 percent of the total output of all industrial establishments with annual sales income exceeding 20 million yuan.
Of the total added value of industrial establishments with annual sales income exceeding 20 million yuan, 61.5 percent, i.e. 88.35 bliion yuan, were contributed by foreign, Hong Kong-, Taiwan- and Macao-funded enterprises, rising by 5.7 percent.
Xiamen is the largest producer and exporter of tungsten products in the world, the largest producer of hearing aids and hearing equipment in the Asia-Pacific region and a major computer exporter and aircraft maintenance center in China.
Xiamen is one of China's biggest producers and sellers of digital audiovisual devices, capacitors, IC lead frames, relays and optoelectronic equipment.
Xiamen is home to many famous national and international brand names such as Xoceco (Prima), Amoi, XGMA, King Long, Topstar, Cheng Shin, Yinlu, Huierkang, Gulong, Yinxiang, Wish and New Wish. Xiamen has gained competitive advantages in the country in various sectors including engineering machinery, power distribution equipment, large- and medium-sized buses, tungsten product processing and aircraft maintenance.