Value Added of China’s Core Industries of the Digital Economy Takes up 10.5% of GDP in 2024

Upon accounting, the value added of the core industries of the digital economy nationwide in 2024 reached 14.0891 trillion yuan, accounting for 10.5% of the gross domestic product (GDP).

A closer look at the internal structure of the core industries of the digital economy reveals that the value added of the digital technology application industry amounted to 6.1928 trillion yuan, accounting for the largest proportion of the core industries of the digital economy at 44.0%; that of the digital product manufacturing industry contributed 4.8145 trillion yuan, accounting for 34.2%; that of the digital factor-driven industries achieved 2.6519 trillion yuan, accounting for 18.8%; that of the digital product services secured 429.8 billion yuan, accounting for 3.1%.

Value Added of China’s Core Industries of the Digital Economy in 2024

Annotations:

1. Notes on Indicators

The core industries of the digital economy refer to economic activities that provide digital technologies, products, services, infrastructure, and solutions to drive the digitalization of industries, as well as those that are entirely reliant on digital technologies and data elements for their operations.

The value added of the core industries of the digital economy refers to the value added created by the production activities conducted by all resident units engaged in the core industries of the digital economy in China within a specific period.

Resident units refer to economic units that have their center of economic interests within the economic territory of China.

Production refers to the activities of creating new output of goods and services by using factors such as the input of labor, capital, goods and services under the control and management of institutional units.

2. Accounting Classification

The accounting classification of the core industries of the digital economy is based on the Statistical Classification of Digital Economy and Its Core Industries (2021) and encompasses four major categories: digital product manufacturing industry, digital product services, digital technology application industry, and digital factor-driven industries, and further includes 126 subcategories of national economic industries.

3. Accounting Method and Data Source

The value added of the core industries of the digital economy is calculated based on the Method for Calculating the Value Added of the Digital Economy established by the NBS.

The basic data required for accounting are mainly sourced from the data of the national economic census, relevant statistics on certain fields and national economic accounting of the NBS.