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Tibet: Market Profile

Major Economic Indicators

Table: Major Economic Indicators of Tibet
Table: Major Economic Indicators of Tibet

 

General Background

With an area of more than 1.2 million square kilometers, Tibet takes up 1/8 of China’s total area, but only has a population at 3.12 million in 2013. It is located in the southwest frontier of China, serving as an important gateway to South Asia.  Tibet is an ethnic minority autonomous region with the largest share of Tibetan.

Thanks to the abundant resources, Tibet has formed an industry structure of the following characteristics: tourism, Tibetan medicine, plateau special biology, handicrafts and mining are the industries with comparative advantages. After the opening of the Qinghai-Tibet railway and the reopening of Natula trade pass (乃堆拉山口邊貿通道) on China-India border, service industries such as trade and transportation are likely to enjoy further development.

Industries

Over the last decade, Tibet’s tertiary industry developed rapidly with its share in GDP increased to 53% in 2013. But primary industry still plays an important role and the construction sector accounted for 28.7% of the GDP in 2013.

The share of industry remains relatively small in GDP.  However, industrial products such as mineral products, medicine, Qingke barley wine, carpets and building materials have good reputation.

 

Table: Composition of GDP (%) (Tibet)
Table: Composition of GDP (%) (Tibet)

 

Table: Share of Leading Industry Groups (2013) (Tibet)
Table: Share of Leading Industry Groups (2013) (Tibet)

 

Tourism

With a long history and glorious culture, Tibet is famous for its beautiful natural scenery and unique folk-customs. There are a lot of natural scenic spots such as Namtso Lake (納木措湖), Great Gorges of Yarlung Zangbo River (雅魯藏布江大峽谷), Mount Everest (珠穆朗瑪峰) etc. Cultural sceneries are also abundant, including Potala Palace (布達拉宮), Jokhang(大昭寺), Die Koenigsgraeber (藏王墓) and many ancient temples.

 

Table: Tourism (Tibet)
Table: Tourism (Tibet)

 

Foreign Trade

Major exports included light industry products, output of livestock products, grain & oil or fat, traditional Chinese medicine and carpets.  Major imports were motor vehicles and machinery products.

Due to Tibet’s geographic location, border trade plays an important role, especially for the exports. In 2013, 58.5% of Tibet’s exports were border trade.

Foreign Investment

According to the guidance for foreign investment in Tibet, priorities will be given to the following areas: infrastructure (such as transportation and communications), education, agriculture (plateau agriculture, water-conservative agriculture, food processing) and Tibetan medicine.

Consumer Market

In 2013, annual per capita disposal income of urban households was RMB20,023 (+11.1%). Major consumer market is located in Lhasa (拉薩).  The city’s retail sales of consumer goods accounted for 49% of Tibet’s total.

 

Table: Composition of Per Capita Expenditure of Urban Household (%) (Tibet)
Table: Composition of Per Capita Expenditure of Urban Household (%) (Tibet)

 

Barkhor Street (八廓街) is a famous market for buying small commodities in Lhasa, where one can find various local products such as carpets, ethnic costumes, jewellery etc. Traditional shopping districts are around Jokhang Square (大昭寺廣場), Barkhor Street and Beijing Road.

 

Table: Economic Indicators of Major Cities (2013) (Tibet)
Table: Economic Indicators of Major Cities (2013) (Tibet)
Content provided by Picture: HKTDC Research
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