China, the United States, India, Russia, Germany, Japan, the United Kingdom, and France, who has higher economic growth rates in the first quarter?
Nansheng said in this life
2024-06-01 00:02Posted in Guangdong financial field creators
In addition, India's National Bureau of Statistics officially released the economic report card for the first quarter of 2024 - a year-on-year increase of 7.8%, continuing to maintain a rapid growth momentum, not only leading the world's major powers, but also exceeding the expectations given by many economic analysis agencies.
The manufacturing industry has become the biggest driving force for economic growth
The national accounts report also showed that India's agriculture, forestry, animal husbandry and fishery grew by 0.6 percent year-on-year in the first quarter of this year, the mining sector grew by 4.3 percent, the hotel, transport, communication and related services industry increased by 5.1 percent, and the financial, real estate and professional services industry increased by 7.6 percent.
Electricity, gas, water supply and other public services grew by 7.7 percent in the first quarter of this year, while public administration, defense and construction grew by 8.7 percent. Among the major sectors, the manufacturing industry rose by 8.9% year-on-year, once again becoming the biggest driving force for economic development.
Under the influence of policies such as "de-sinicization of supply chains" and "China plus 1" led by the United States and the European Union, the Modi government's strategy of "industrialization remedialization" has received external support - and is trying to use its demographic dividend, attracting the attention of many multinational companies.
A large number of multinational companies have tried to invest and set up factories in India, manufacturing mobile phones, computers, electronics, automobiles, batteries, wind turbines, toys, clothing and footwear. Among them, Boeing of the United States has opened the largest overseas engineering center in Bangalore.
At present, India has produced about 14% of Apple's global iPhones, South Korea's Samsung Group's Noida factory in India will officially produce laptops this year, and the Indian plant of Japanese automaker Suzuki Motor plans to produce electric vehicles in 2025......
Although the world's major multinational companies have encountered various difficulties in their investment in India, which cannot be compared with the return on investment in China, US President Biden "valued" India so much, and would rather lose 3,000 to himself than "the mainland will be bled by 1,000".
The use of "friendly shores and nearshores", including India, Vietnam, and Mexico, to replace the previous "offshore" has become a national strategy for US politicians to contain China's rise. Regardless of whether India is the best investment partner or not, Biden will actively promote the de-Chinaization of supply chains.
As a result, India has reaped a wave of development dividends, with the amount of foreign investment introduced for several consecutive years ranking second among developing economies, and the growth of the manufacturing industry has exceeded market expectations for several consecutive quarters, and the overall improvement of India's national economy has exceeded market expectations.
India's GDP in the first quarter ranked fifth in the world
At market prices, India's nominal GDP expanded to Rs 78,281.48 billion in the first quarter of 2024, or 942.8 billion dollars at average exchange rates, continuing to rank fifth in the world after the United States, China, Germany and Japan.
The U.S. economy grew by 2.8% year-on-year and 1.3% annualized quarter-on-quarter in the first quarter, with a nominal GDP of $6,918.7 billion, continuing to rank first in the world. The mainland's GDP in the first quarter was 29.63 trillion yuan, which is converted into 4,171.6 billion dollars, about 60.3% of the United States.
Germany's economy fell by 0.9% in the first quarter, with a GDP of $1,139.3 billion, ranking third; In fourth place is Japan, with a GDP of $1,008.3 billion, down 0.2% year-on-year. According to the International Monetary Fund, India's GDP is expected to catch up with Japan next year.
The UK economy grew by 0.2% in the first quarter, with a GDP of $869.1 billion, ranking sixth in the world. In seventh place continues to be France, with a growth of 0.9% in the first quarter (1.1% year-on-year on a seasonally adjusted basis) and a GDP of about $775.2 billion.
Russia's first-quarter economic report card has not yet been officially released, but the report card previously revealed by the Russian Ministry of Economic Development was "a year-on-year increase of 5.4%", slightly surpassing the mainland, and the economic improvement is second only to India among the world's large economies. This article is written by Nansheng, welcome to forward, comment, leave a message and share!
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China, the United States, India, Russia, Germany, Japan, the United Kingdom, and France, who has higher economic growth rates in the first quarter? -
China, the United States, India, Russia, Germany, Japan, the United Kingdom, and France, who has higher economic growth rates in the first quarter? -
China, the United States, India, Russia, Germany, Japan, the United Kingdom, and France, who has higher economic growth rates in the first quarter? -
China, the United States, India, Russia, Germany, Japan, the United Kingdom, and France, who has higher economic growth rates in the first quarter?
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