Wenzhou exports food, tea, wine, jute, timber, paper, Alunite (a non-metallic mineral used to make alum and fertilizer). Alunite is abundant and Wenzhou claims to be the "Alunite Capital of the World". Its 10 main industries each exceeding 1.5 billion dollars are electrical machinery, leather products, general equipment, power supply, plastic manufacturing, textile and garment, transport equipment, chemical products, metal products and metal processing.

From the 1990s, low-voltage electric appliances manufacturing became one of the major industries in Wenzhou, with some of the large private enterprises setting up joint ventures with GE and Schneider.

Wenzhou is a city full of vibrant business activities. When China began economic reforms in 1978, Wenzhou was the first city in China to set up individual and private enterprises as well as shareholder cooperatives. It has also taken the lead in carrying out financial system reform and structural reform in townships. Being a pioneer in utilizing marketing mechanism to develop urban constructions, Wenzhou has won a number of firsts in China and set many national records.

From 1978 through 2016, the GDP of Wenzhou, a third-tier city in China, has increased from 1.32 billion RMB to 504.54 billion RMB with the gross fiscal revenue increasing from 0.135 billion RMB to 72.4 billion RMB, and the disposable net per capita income for rural residents increasing from 113.5 RMB to 22,985 RMB. The per capita disposable income for urban residents increased from 422.6 RMB in 1981 to 47,785 RMB in 2016, which is the among the highest in China.