In 2007, Fukang City's GDP was 4.822 billion yuan, 2.3 times that of 2002, an average annual increase of 17.6%. Per capita GDP reached 30,000 yuan, 2.1 times that of 2002, an average annual increase of 16.5%.[citation needed]
Fukang's economy relies primarily on heavy industry, agriculture and tourism.[3]
Among the tourist attractions in the area are Bogda Peak and the Heavenly Lake of Tianshan.
Bogeda Biosphere Reserve, in the east part of the Tianshan Mountains, was designated a member of UNESCO's Man and Biosphere reserve in 1990.[6]
Irrigated agriculture in the Fukang is enabled by streams flowing from the Tian Shan mountains, as well as by the eastern branch of the Irtysh–Karamay–Ürümqi Canal, which crosses the Gurbantünggüt Desert, bringing to Fukang water from the Irtysh River.
In 2000 a 925 "gemstone meteorite", a pallasite meteorite known as Fukang meteorite, was found near Fukang. It is considered a large and a rare of meteorite. In 2008 the main mass was offered for sale at Bonhams for a value of US $2 million. However the lot remained unsold.[7]