Hengyang ranks as one of Hunan's largest economies, with a GDP of approximately 410 billion CNY. The city's industrial sector is diversified, with key industries including machinery manufacturing, electronics, chemicals, non-ferrous metals, and textiles.
The Hengyang High-Tech Industrial Development Zone is a national-level development zone attracting investment in advanced manufacturing and technology. Notable companies include Hengyang Steel Tube (a major seamless steel pipe producer) and several automotive parts manufacturers.
Agriculture remains significant in surrounding counties. Hengyang is a major producer of rice, tea oil (camellia oil), citrus fruits, and daylily flowers. The famous Qidong daylily accounts for over 60% of China's total production.
Tourism driven by Mount Heng is a growing contributor to the economy, with the mountain receiving over 10 million visitors annually. The city is also investing in logistics as a transportation hub connecting Hunan to Guangdong, Jiangxi, and Guangxi.