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Economy of Belarus vs China compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $18.7T for China, ranking 83/197 and 2/197 by economy size, respectively.

Belarus has $30.3B in government debt (39.9% of GDP), compared to $16.6T (88.3% of GDP) in China.

Belarus vs China GDP by year

Belarus
China
1x
Year GDP, current $
Belarus China
2024 $75,961,865,472 $18,743,803,170,827
2023 $72,478,760,370 $18,270,356,654,533
2022 $73,775,179,925 $18,316,765,021,690
2021 $69,673,747,132 $18,201,698,719,564
2020 $61,371,673,345 $14,996,414,166,715
2019 $64,410,170,653 $14,560,167,101,283
2018 $60,031,026,576 $14,147,765,772,964
2017 $54,725,405,751 $12,537,559,062,283
2016 $47,723,545,321 $11,456,024,084,962
2015 $56,454,769,845 $11,280,814,787,469
2014 $78,813,069,121 $10,674,533,168,257
2013 $75,527,558,966 $9,743,124,247,267
2012 $65,685,890,439 $8,673,664,713,189
2011 $61,762,382,328 $7,671,757,207,851
2010 $57,231,904,543 $6,192,564,874,453
2009 $50,873,167,326 $5,189,577,094,998
2008 $60,752,106,347 $4,667,346,414,522
2007 $45,275,711,996 $3,604,055,822,572
2006 $36,961,894,281 $2,791,498,472,804
2005 $30,210,091,837 $2,317,551,298,052
2004 $23,141,566,293 $1,984,196,551,300
2003 $17,825,444,724 $1,683,903,309,844
2002 $14,594,900,945 $1,489,821,682,051
2001 $12,354,820,144 $1,355,036,590,252
2000 $12,736,856,828 $1,223,754,919,971
1999 $12,138,486,532 $1,103,843,203,576
1998 $15,222,012,660 $1,037,134,141,760
1997 $14,128,408,566 $967,753,570,435
1996 $14,500,437,520 $868,523,936,530
1995 $13,972,683,274 $738,190,896,228
1994 $14,931,435,232 $566,929,539,493
1993 $16,275,073,527 $446,557,291,212
1992 $16,939,790,094 $428,502,354,788
1991 $18,404,907,975 $384,510,452,962
1990 $17,389,558,233 $361,560,229,446
1989 - $348,380,566,802
1988 - $312,888,888,889
1987 - $273,455,156,951
1986 - $301,310,144,928
1985 - $310,064,625,850
1984 - $260,442,857,143
1983 - $231,130,268,199
1982 - $205,480,916,031
1981 - $196,218,253,968
1980 - $191,487,500,000
1979 - $178,573,913,043
1978 - $149,788,617,886
1977 - $175,226,595,860
1976 - $154,196,810,059
1975 - $163,687,619,736
1974 - $144,418,433,058
1973 - $138,764,340,892
1972 - $113,871,930,714
1971 - $99,959,013,880
1970 - $92,752,930,873
1969 - $79,847,786,729
1968 - $70,980,323,819
1967 - $73,011,350,596
1966 - $76,854,053,259
1965 - $70,565,994,356
1964 - $59,821,862,703
1963 - $50,812,227,919
1962 - $47,310,737,754
1961 - $50,162,299,350
1960 - $59,846,235,025

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/china | CC BY

GDP per capita in Belarus vs China by year

Belarus
GDP per capita

GDP per capita, PPP
China
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus China
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,318 $33,010 $13,303 $27,105
2023 $7,897 $30,834 $12,951 $25,179
2022 $7,995 $28,429 $12,971 $23,032
2021 $7,490 $27,611 $12,887 $20,843
2020 $6,543 $24,872 $10,627 $18,267
2019 $6,838 $22,302 $10,343 $17,601
2018 $6,360 $20,026 $10,086 $16,298
2017 $5,786 $18,414 $8,980 $15,022
2016 $5,040 $17,832 $8,255 $14,157
2015 $5,967 $18,134 $8,175 $13,463
2014 $8,341 $19,038 $7,781 $12,942
2013 $7,998 $19,014 $7,147 $12,228
2012 $6,953 $18,115 $6,405 $11,420
2011 $6,528 $16,563 $5,704 $10,457
2010 $6,035 $15,339 $4,629 $9,411
2009 $5,352 $14,034 $3,898 $8,448
2008 $6,376 $13,886 $3,523 $7,713
2007 $4,735 $12,320 $2,735 $6,935
2006 $3,848 $10,995 $2,129 $5,946
2005 $3,126 $9,637 $1,778 $5,148
2004 $2,378 $8,483 $1,531 $4,505
2003 $1,820 $7,362 $1,307 $4,007
2002 $1,479 $6,697 $1,164 $3,591
2001 $1,244 $6,238 $1,065 $3,258
2000 $1,276 $5,796 $969 $2,964
1999 $1,211 $5,331 $881 $2,690
1998 $1,511 $5,061 $835 $2,483
1997 $1,396 $4,596 $787 $2,297
1996 $1,427 $4,039 $713 $2,088
1995 $1,371 $3,846 $613 $1,884
1994 $1,460 $4,190 $476 $1,680
1993 $1,590 $4,641 $379 $1,471
1992 $1,658 $4,917 $368 $1,276
1991 $1,805 $5,330 $334 $1,105
1990 $1,707 $5,220 $319 $991
1989 - - $311 -
1988 - - $284 -
1987 - - $252.3 -
1986 - - $282.4 -
1985 - - $295 -
1984 - - $251.2 -
1983 - - $225.9 -
1982 - - $203.7 -
1981 - - $197.4 -
1980 - - $195.1 -
1979 - - $184.3 -
1978 - - $156.7 -
1977 - - $185.7 -
1976 - - $165.7 -
1975 - - $178.6 -
1974 - - $160.4 -
1973 - - $157.3 -
1972 - - $132.1 -
1971 - - $118.8 -
1970 - - $113.3 -
1969 - - $100.3 -
1968 - - $91.6 -
1967 - - $96.8 -
1966 - - $104.5 -
1965 - - $98.7 -
1964 - - $85.7 -
1963 - - $74.5 -
1962 - - $71.1 -
1961 - - $76 -
1960 - - $89.7 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/china | CC BY

Belarus' GDP per capita is $8,318, ranking 92/197, compared to $13,303 in China, ranking 76/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while China ranks 77th at $27,105.

Economic indicators

Belarus China
Gross domestic product
$76B
2024
$18.7T
2024
GDP rank
83/197
2024
2/197
2024
GDP growth
4.01%
2023-2024
4.98%
2023-2024
GDP per capita
$8,318
2024
$13,303
2024
GDP per capita rank
92/197
2024
76/197
2024
GDP per capita, PPP
$33,010
2024
$27,105
2024
GDP per capita PPP rank
68/197
2024
77/197
2024
Government debt
$30.3B
2024
$16.6T
2024
Debt-to-GDP ratio
39.9%
2024
88.3%
2024
Government debt per person
$3,318
2024
$11,749
2024
Government debt per person rank
97/185
2024
47/185
2024
Average annual personal income after taxes
$7,345
2026
$9,826
2026
Market capitalization of domestic companies
$6.01B
2024
$11.8T
2024
Number of millionaires n/a
6,327,000
2025
Number of billionaires n/a
450
2025
Income share by richest 10%
20.7%
2020
28.4%
2022
Income share by poorest 10%
4.5%
2020
3.1%
2022
Government expenditure, % of GDP
40.9%
2024
32.9%
2024
Consumer prices inflation
5.7%
2023-2024
0.2%
2023-2024
Central bank interest rate
9.75%
2025
3.1%
2024
Unemployment rate
3.04%
2024
5.11%
2021
Population
9013835
1402578808

Spending and national debt comparison by year

Belarus
Spending

Debt
China
Spending

Debt
1x
Year % of GDP
Belarus China
Government spending Government debt Government spending Government debt
2024 40.9% 39.9% 32.9% 88.3%
2023 40.3% 40.7% 32.7% 82%
2022 38% 40.8% 32.6% 75.5%
2021 36.7% 41.2% 31.9% 70.1%
2020 38% 47.5% 34.8% 69%
2019 37.4% 41% 33.6% 59.4%
2018 37.8% 47.5% 32.6% 55.6%
2017 39% 53.2% 32% 53.9%
2016 40.7% 53.5% 31.7% 49.7%
2015 41.8% 53% 31% 40.8%
2014 38.8% 38.8% 28.4% 39.3%
2013 40.8% 36.9% 28.1% 36.4%
2012 38.9% 36.9% 27.7% 33.8%
2011 40.3% 58.2% 26.6% 33.2%
2010 44.3% 36.8% 24.7% 33.3%
2009 51.7% 32.5% 25.2% 34%
2008 60% 20.3% 22.2% 26.7%
2007 49.2% 15.8% 17.9% 28.7%
2006 47.2% 12.3% 18.1% 25.2%
2005 45% 8.12% 18% 25.9%
2004 44% 9.22% 17.6% 26%
2003 43.5% - 18% 26.4%
2002 43.8% - 18.2% 25.6%
2001 42.4% - 17.2% 24.3%
2000 - - 16.1% 22.7%
1999 - - 14.9% 21.6%
1998 - - 12.6% 20.4%
1997 - - 11.5% 20.4%
1996 - - 11% 21.2%
1995 - - 11.1% 21.4%
1994 - - 12.4% -
1993 - - 13.4% -
1992 - - 14.6% -
1991 - - 16.5% -
1990 - - 18.2% -
1989 - - 18.6% -
1988 - - 20.9% 4.46%
1987 - - 23.4% 3.6%
1986 - - 25.6% 3.24%
1985 - - 25.8% 3.31%
1984 - - 26.9% 0.97%
1983 - - 28.3% -
1982 - - 27.9% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/china | CC BY

In 2024, Belarus' government spending was $31.1B, accounting for 40.9% of its GDP, while China spent $6.18T, or 32.9% of GDP.

Debt-to-GDP ratio is 39.9% in Belarus and 88.3% in China, ranking 133/185 and 34/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

China
1x
Year Deficit/surplus, % of GDP
Belarus China
2024 1.05% -7.34%
2023 0.76% -6.71%
2022 -1.98% -7.32%
2021 -0.22% -5.9%
2020 -2.87% -9.56%
2019 0.91% -6%
2018 1.8% -4.2%
2017 -0.34% -3.34%
2016 -1.66% -3.33%
2015 -2.96% -2.5%
2014 0.09% -0.67%
2013 -0.98% -0.82%
2012 0.36% -0.3%
2011 -2.81% -0.1%
2010 -4.19% -0.36%
2009 -7.23% -1.72%
2008 -10.9% -0.02%
2007 -7.82% 0.06%
2006 -7.71% -1.13%
2005 -6.71% -1.38%
2004 -7.06% -1.49%
2003 -6.74% -2.36%
2002 -7.81% -2.84%
2001 -4.74% -2.56%
2000 - -2.81%
1999 - -2.3%
1998 - -1.08%
1997 - -0.73%
1996 - -0.73%
1995 - -0.94%
1994 - -1.68%
1993 - -0.89%
1992 - -1.22%
1991 - -1.04%
1990 - -0.72%
1989 - -0.91%
1988 - -2.22%
1987 - -2.08%
1986 - -1.82%
1985 - -0.45%
1984 - -1.44%
1983 - -1.61%
1982 - -1.33%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20).

GeoRank.org/economy/belarus/china | CC BY

In 2024, Belarus' government surplus, the difference between spending and revenue, was $796M, equivalent to 1.05% of GDP. This compares to China's deficit of $1.38T, or 7.34% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while China ran a deficit in 23 years. On average, Belarus posted an annual deficit equal to 3.32% of GDP, compared to deficit of 3% of GDP for China.

Inflation comparison by year

Inflation
Belarus

China
1x
Year Consumer prices inflation
Belarus China
2024 5.7% 0.2%
2023 5% 0.2%
2022 15.2% 2%
2021 9.5% 0.9%
2020 5.5% 2.5%
2019 5.6% 2.9%
2018 4.9% 2.1%
2017 6% 1.6%
2016 11.8% 2%
2015 13.5% 1.5%
2014 18.1% 2%
2013 18.3% 2.7%
2012 59.2% 2.6%
2011 53.2% 5.4%
2010 7.7% 3.3%
2009 13% -0.7%
2008 14.8% 5.9%
2007 8.4% 4.7%
2006 7% 1.5%
2005 10.3% 1.8%
2004 18.1% 3.9%
2003 28.4% 1.1%
2002 42.6% -0.8%
2001 61.1% 0.7%
2000 168.6% 0.4%
1999 293.7% -1.4%
1998 73% -0.8%
1997 63.8% 2.8%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20).

GeoRank.org/economy/belarus/china | CC BY

Over the past 28 years, Belarus has recorded an average annual inflation rate of 37.2%, compared with 1.82% in China. In 2024, inflation was 5.7% in Belarus and 0.2% in China.

Top exports between countries

Belarus
Export category Export value
Animal & marine products $327M
Raw materials & minerals $323M
Transport & tourism services $276M
Wood & paper products $137M
Manufacturing & construction services $110M
Business & finance services $43M
Processed food, beverages & tobacco $39.4M
Machinery & equipment $24.7M
Textiles & consumer goods $18.4M
IT & IP services $6.4M
China
Export category Export value
Machinery & equipment $4.86B
Textiles & consumer goods $715M
Chemicals & pharma $442M
Metals $240M
Miscellaneous $85.9M
Raw materials & minerals $85.6M
Processed food, beverages & tobacco $63.2M
Wood & paper products $58.1M
Raw agricultural goods $14.5M
Animal & marine products $12.2M

Balance of trade

Belarus China
Current account balance
-$1.94B
2024
$424B
2024
Current account balance ranking
142/190
2024
1/190
2024
Current account balance, % of GDP
-2.56%
2024
+2.26%
2024
Goods imports
$44.2B
2024
$2.64T
2024
Goods exports
$39.5B
2024
$3.41T
2024
Service imports
$6.82B
2024
$613B
2024
Service exports
$10.1B
2024
$384B
2024
Imports of goods and services, % of GDP
66.9%
2024
17.2%
2024
Exports of goods and services, % of GDP
65.1%
2024
20%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus China
Economic freedom 49.1 48.3
Economic freedom ranking 166/197 170/197
Property rights 20 40.9
Government integrity 28.3 42.3
Judicial effectiveness 11.5 38.6
Tax burden 93.5 69.3
Government spending 52.6 67.8
Fiscal health 96.8 4.4
Business freedom 50.3 68.7
Labor freedom 48 57.9
Monetary freedom 69 76.1
Trade freedom 69.2 73.4
Investment freedom 30 20
Financial freedom 20 20

Economic freedom comparison by year

Belarus
China
1x
Year Economic freedom index
Belarus China
2026 49.1 48.3
2025 48.9 49
2024 48.4 48.5
2023 51 48.3
2022 53 48
2021 61 58.4
2020 61.7 59.5
2019 57.9 58.4
2018 58.1 57.8
2017 58.6 57.4
2016 48.8 52
2015 49.8 52.7
2014 50.1 52.5
2013 48 51.9
2012 49 51.2
2011 47.9 52
2010 48.7 51
2009 45 53.2
2008 45.3 53.1
2007 47 52
2006 47.5 53.6
2005 46.7 53.7
2004 43.1 52.5
2003 39.7 52.6
2002 39 52.8
2001 38 52.6
2000 41.3 56.4
1999 35.4 54.8
1998 38 53.1
1997 39.8 51.7
1996 38.7 51.3
1995 40.4 52

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/belarus/china | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 48.3 for China, ranking 170/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus China
Services, % of GDP
49.7%
2024
56.7%
2024
Industry, % of GDP
30.7%
2024
36.5%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
6.78%
2024
GNI, Atlas method
$75.4B
2024
$19.3T
2024
GNI per capita, PPP
$32,300
2024
$26,920
2024
Total reserves including gold
$8.91B
2024
$3.46T
2024
Total reserves ranking
82/177
2024
1/177
2024
Net foreign direct investment
-$1.57B
2024
$154B
2024
Net inflows of foreign direct investment
$1.74B
2024
$18.6B
2024
Net outflows of foreign direct investment
$170M
2024
$172B
2024
Servicing debt to the IMF, % of GNI
7.19%
2024
1.89%
2024
Poverty at national poverty lines
3.9%
2022
0%
2020
Gross capital formation, % of GDP
25.8%
2024
40.6%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/belarus/china | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. International Monetary Fund (IMF) | Public Finances in Modern History (1982–1989, retrieved 2026-02-20)
  6. TradeMap (2021–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.