Tibet reports strong half year GDP, trade growth

China's Tibet Autonomous Region reported rapidly growing economy and trade during the first half of 2010, regional authorities said Monday.

With local GDP growing by 11.2 percent year on year to reach 20.32 billion yuan (about 3 billion U.S. dollars), Tibet's economy has been restored to the level before March 2008 when unrest disrupted social and economic development, said Padma Choling, chairman of the regional government.

Tibet had fiscal revenues of 1.718 billion yuan in the first six months of the year, up 36.16 percent from the same period last year. Its income from taxes also increased by 53 percent year on year to 2.1 billion yuan.

The region's department of commerce reported an increase in trade of more than 60 percent in the first half of 2010.

The trade volume of Tibet in the first six months reached 330.96 million U.S. dollars, up 60.41 percent from the same period last year, with a surplus of 238.06 million dollars, according to a statement by the department.

Manufactured goods including traditional medicines accounted for 89 percent of the region' s exports, while primary goods accounted for 11 percent.

Mechanical and electronical products such as excavators accounted for 90 percent of imports into Tibet, the department said.

Source:Xinhua