In 2008, Hebei's GDP was 1.62 trillion yuan (US$233 billion), an increase of 10.1 percent over the previous year, which ranked sixth in China. GDP per capita reached 23,239 yuan. Disposable income per capita in urban areas was 13,441 yuan, while rural income per capita was 4,795 yuan. The primary, secondary, and tertiary sectors of industry contributed 203.46 billion, 877.74 billion, and 537.66 billion yuan respectively. The registered urban unemployment rate was 3.96 percent.

Hebei's main agricultural products are cereal crops including wheat, maize, millet, and sorghum. Cash crops like cotton, peanut, soya bean and sesame are also produced.

The city of Kailuan, with a history of over 100 years, has one of China's first modern coal mines, and remains a major mine with an annual production of over 20 million metric tons. Much of the North China Oilfield is found in Hebei, and there are also major iron mines in Handan and Qian’an.

Hebei’s industries include textiles, coal, steel, iron, engineering, chemical production, petroleum, power, ceramics and food.