LHASA - Tibet's economy grew by 11.4 percent year on year to reach 13.3 billion yuan ($2.1 billion) in the first quarter of this year, local authorities announced Thursday.

During the period, social retail sales reached 5.7 billion yuan, up 14.3 percent, and foreign trade reached $255 million, up 52.3 percent, a spokesman with the Tibet Regional Development and Reform Commission said.

From January to March, Tibet received 230,000 visitors, up 23.7 percent from a year earlier, the spokesman said.

Tourism revenue rose 27.9 percent to reach 229 million yuan during the period, he said.

Tibet's economy achieved steady yet rapid development in the first quarter, he added.