China: Wuhan’s economy is recovering from the pandemic at a rapid pace

Wuhan, considered the epicenter of the pandemic outbreak, has said goodbye to the coronavirus and is recovering dynamically, AMPE says.

In the first quarter of this year, GDP in the provincial capital of Hubei showed significant growth, about 58.4%, while in the first quarter of 2020, it declined by 40.5%. The reason for the decrease in GDP last year was the strict introduction of curfews amid the pandemic, in order to avoid the spread of the coronavirus.

Citing the statistical office of the local municipality, AMPE informs that in the first quarter of 2021, Wuhan’s GDP was approximately 357.4 billion yuan ($ 55 billion). The annual increase in foreign trade in the first 3 months of 2021 was recorded at 92.2%. On an annualized basis, Wuhan’s imports grew by 68% and exports by 123.4%.

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