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China economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

China ranked 2/197 by economy size with a GDP of $18.7T and 76/197 by GDP per capita at $13,303. China has $16.6T in government debt, with a debt-to-GDP ratio of 88.3%.

In 2024, China made up 16.9% of the world's economy, compared to 4.38% in 1960.

China GDP & GDP growth by year

GDP, current $
Real growth
1x
Year GDP GDP growth
2024 $18,743,803,170,827 4.98%
2023 $18,270,356,654,533 5.41%
2022 $18,316,765,021,690 3.13%
2021 $18,201,698,719,564 8.57%
2020 $14,996,414,166,715 2.34%
2019 $14,560,167,101,283 6.07%
2018 $14,147,765,772,964 6.76%
2017 $12,537,559,062,283 6.89%
2016 $11,456,024,084,962 6.78%
2015 $11,280,814,787,469 6.98%
2014 $10,674,533,168,257 7.46%
2013 $9,743,124,247,267 7.78%
2012 $8,673,664,713,189 7.86%
2011 $7,671,757,207,851 9.46%
2010 $6,192,564,874,453 10.6%
2009 $5,189,577,094,998 9.4%
2008 $4,667,346,414,522 9.67%
2007 $3,604,055,822,572 14.1%
2006 $2,791,498,472,804 12.7%
2005 $2,317,551,298,052 11.5%
2004 $1,984,196,551,300 10.1%
2003 $1,683,903,309,844 10.1%
2002 $1,489,821,682,051 9.24%
2001 $1,355,036,590,252 8.31%
2000 $1,223,754,919,971 8.59%
1999 $1,103,843,203,576 7.74%
1998 $1,037,134,141,760 7.92%
1997 $967,753,570,435 9.29%
1996 $868,523,936,530 9.98%
1995 $738,190,896,228 11%
1994 $566,929,539,493 13.1%
1993 $446,557,291,212 13.9%
1992 $428,502,354,788 14.3%
1991 $384,510,452,962 9.36%
1990 $361,560,229,446 3.94%
1989 $348,380,566,802 4.21%
1988 $312,888,888,889 11.2%
1987 $273,455,156,951 11.6%
1986 $301,310,144,928 8.94%
1985 $310,064,625,850 13.4%
1984 $260,442,857,143 15.2%
1983 $231,130,268,199 10.7%
1982 $205,480,916,031 9.06%
1981 $196,218,253,968 5.11%
1980 $191,487,500,000 7.83%
1979 $178,573,913,043 7.59%
1978 $149,788,617,886 11.3%
1977 $175,226,595,860 7.57%
1976 $154,196,810,059 -1.57%
1975 $163,687,619,736 8.72%
1974 $144,418,433,058 2.31%
1973 $138,764,340,892 7.76%
1972 $113,871,930,714 3.81%
1971 $99,959,013,880 7.06%
1970 $92,752,930,873 19.3%
1969 $79,847,786,729 16.9%
1968 $70,980,323,819 -4.1%
1967 $73,011,350,596 -5.77%
1966 $76,854,053,259 10.6%
1965 $70,565,994,356 17%
1964 $59,821,862,703 18.2%
1963 $50,812,227,919 10.3%
1962 $47,310,737,754 -5.58%
1961 $50,162,299,350 -27.3%
1960 $59,846,235,025 -

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

GeoRank.org/economy/china | CC BY

China GDP per capita by year

GDP per capita
GDP per capita, PPP
1x
Year Current $
GDP per capita GDP per capita, PPP
2024 $13,303 $27,105
2023 $12,951 $25,179
2022 $12,971 $23,032
2021 $12,887 $20,843
2020 $10,627 $18,267
2019 $10,343 $17,601
2018 $10,086 $16,298
2017 $8,980 $15,022
2016 $8,255 $14,157
2015 $8,175 $13,463
2014 $7,781 $12,942
2013 $7,147 $12,228
2012 $6,405 $11,420
2011 $5,704 $10,457
2010 $4,629 $9,411
2009 $3,898 $8,448
2008 $3,523 $7,713
2007 $2,735 $6,935
2006 $2,129 $5,946
2005 $1,778 $5,148
2004 $1,531 $4,505
2003 $1,307 $4,007
2002 $1,164 $3,591
2001 $1,065 $3,258
2000 $969 $2,964
1999 $881 $2,690
1998 $835 $2,483
1997 $787 $2,297
1996 $713 $2,088
1995 $613 $1,884
1994 $476 $1,680
1993 $379 $1,471
1992 $368 $1,276
1991 $334 $1,105
1990 $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/china | CC BY

China has a GDP per capita of $13,303, ranking 76/197, a GDP per capita based on purchasing power parity (PPP) of $27,105, ranking 77/197, and a median annual after tax income of $9,826, ranking 80/197.

China GDP rankings by year

GDP
GDP per capita
GDP per capita, PPP
1x
Year Rank
GDP GDP per capita GDP per capita, PPP
2024 2 71 71
2023 2 71 74
2022 2 69 74
2021 2 65 72
2020 2 66 73
2019 2 73 79
2018 2 72 81
2017 2 76 85
2016 2 76 86
2015 2 78 89
2014 2 85 92
2013 2 88 92
2012 2 95 92
2011 2 100 98
2010 2 103 103
2009 3 108 109
2008 3 115 113
2007 3 120 115
2006 4 122 120
2005 5 120 122
2004 6 117 122
2003 6 117 124
2002 6 119 127
2001 6 122 130
2000 6 126 132
1999 7 128 132
1998 7 129 131
1997 7 134 136
1996 7 138 132
1995 8 141 136
1994 8 142 137
1993 10 149 145
1992 10 151 149
1991 10 159 152
1990 11 162 155
1989 11 143 -
1988 10 150 -
1987 11 151 -
1986 8 140 -
1985 8 138 -
1984 8 139 -
1983 8 145 -
1982 9 148 -
1981 11 149 -
1980 12 150 -
1979 11 141 -
1978 11 140 -
1977 9 133 -
1976 8 131 -
1975 8 128 -
1974 8 127 -
1973 7 122 -
1972 7 124 -
1971 7 126 -
1970 7 126 -
1969 7 109 -
1968 8 110 -
1967 7 108 -
1966 6 102 -
1965 7 104 -
1964 7 101 -
1963 7 104 -
1962 7 104 -
1961 6 100 -
1960 5 93 -

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

GeoRank.org/economy/china | CC BY

Compared with 2000, in 2024 China is ranked 2nd out of 182 by GDP (up from 6th), 71st by GDP per capita (up from 126th), and 71st by GDP per capita PPP (up from 132nd).

Economic indicators

China Rank
Gross domestic product
$18.7T
2024
2/197
GDP growth
4.98%
2023-2024
41/194
GDP per capita
$13,303
2024
76/197
GDP per capita, PPP
$27,105
2024
77/197
Government debt
$16.6T
2024
2/185
Debt-to-GDP ratio
88.3%
2024
34/185
Government debt per person
$11,749
2024
47/185
Average annual personal income after taxes
$9,826
2026
80/197
Listed domestic companies
11,231
2024
1/103
Market capitalization of domestic companies
$11.8T
2024
2/100
Number of millionaires
6,327,000
2025
2/35
Millionaire frequency
1 in 174
2025
24/35
Number of billionaires
450
2025
2/78
Billionaire frequency
1 in 2,446,473
2025
49/78
Income share by richest 10%
28.4%
2022
76/169
Income share by poorest 10%
3.1%
2022
50/169
Government expenditure, % of GDP
32.9%
2024
83/195
Consumer prices inflation
0.2%
2023-2024
185/195
Central bank interest rate
3.1%
2024
86/106
Unemployment rate
5.11%
2021
102/196
Population
1402578808
2/197

Government spending, deficit, and debt by year

Spending
Debt
Deficit/surplus
1x
Year % of GDP
Government spending Government debt Government deficit/surplus
2024 32.9% 88.3% -7.34%
2023 32.7% 82% -6.71%
2022 32.6% 75.5% -7.32%
2021 31.9% 70.1% -5.9%
2020 34.8% 69% -9.56%
2019 33.6% 59.4% -6%
2018 32.6% 55.6% -4.2%
2017 32% 53.9% -3.34%
2016 31.7% 49.7% -3.33%
2015 31% 40.8% -2.5%
2014 28.4% 39.3% -0.67%
2013 28.1% 36.4% -0.82%
2012 27.7% 33.8% -0.3%
2011 26.6% 33.2% -0.1%
2010 24.7% 33.3% -0.36%
2009 25.2% 34% -1.72%
2008 22.2% 26.7% -0.02%
2007 17.9% 28.7% 0.06%
2006 18.1% 25.2% -1.13%
2005 18% 25.9% -1.38%
2004 17.6% 26% -1.49%
2003 18% 26.4% -2.36%
2002 18.2% 25.6% -2.84%
2001 17.2% 24.3% -2.56%
2000 16.1% 22.7% -2.81%
1999 14.9% 21.6% -2.3%
1998 12.6% 20.4% -1.08%
1997 11.5% 20.4% -0.73%
1996 11% 21.2% -0.73%
1995 11.1% 21.4% -0.94%
1994 12.4% - -1.68%
1993 13.4% - -0.89%
1992 14.6% - -1.22%
1991 16.5% - -1.04%
1990 18.2% - -0.72%
1989 18.6% - -0.91%
1988 20.9% 4.46% -2.22%
1987 23.4% 3.6% -2.08%
1986 25.6% 3.24% -1.82%
1985 25.8% 3.31% -0.45%
1984 26.9% 0.97% -1.44%
1983 28.3% - -1.61%
1982 27.9% - -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/china | CC BY

This chart shows China's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 43 years, China recorded a fiscal deficit in 42 of them, with an average annual deficit equal to 2.28% of GDP. In 2024, government spending reached $6.18T (32.9% of GDP), with a deficit of 7.34%.

The national debt reached $16.6T, ranking 2nd out of 185 countries by total size, with a debt-to-GDP ratio of 88.3%, ranking 34th.

Inflation rate by year

1x
Year Inflation
2024 0.2%
2023 0.2%
2022 2%
2021 0.9%
2020 2.5%
2019 2.9%
2018 2.1%
2017 1.6%
2016 2%
2015 1.5%
2014 2%
2013 2.7%
2012 2.6%
2011 5.4%
2010 3.3%
2009 -0.7%
2008 5.9%
2007 4.7%
2006 1.5%
2005 1.8%
2004 3.9%
2003 1.1%
2002 -0.8%
2001 0.7%
2000 0.4%
1999 -1.4%
1998 -0.8%
1997 2.8%
1996 8.3%
1995 16.8%
1994 24.3%
1993 14.6%
1992 6.4%
1991 3.6%
1990 3.3%
1989 18%
1988 18.8%
1987 7.3%
1986 6.5%
1985 9.3%
1984 2.7%
1983 2%
1982 2%
1981 2.5%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1981–2024, retrieved 2026-02-20).

GeoRank.org/economy/china | CC BY

Over the past 20 years, China has had an average annual inflation rate of 2.26%. In 2024, inflation was 0.2%. The bar chart above shows consumer price inflation by year.

Balance of trade

China Rank
Current account balance
$424B
2024
1/190
Current account balance, % of GDP
+2.26%
2024
53/190
Goods imports
$2.64T
2024
2/189
Goods exports
$3.41T
2024
1/189
Service imports
$613B
2024
2/189
Service exports
$384B
2024
7/189
Imports of goods and services, % of GDP
17.2%
2024
173/181
Exports of goods and services, % of GDP
20%
2024
145/193

China top 10 trading partners

China's biggest trading partner accounting for 14.1% of all exports and imports is the United States, with a trade balance between the two of +$303B: China exports $556B worth of goods and services to the United States and imports $254B.

Below is the list of the top 10 trade partners of China.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 United States $810B 14.1% $556B $254B Machinery & equipment Transport & tourism services
2 South Korea $358B 6.26% $157B $201B Machinery & equipment Machinery & equipment
3 Japan $350B 6.1% $163B $186B Machinery & equipment Machinery & equipment
4 Vietnam $261B 4.55% $162B $98.9B Machinery & equipment Machinery & equipment
5 Russia $253B 4.41% $117B $136B Machinery & equipment Raw materials & minerals
6 Germany $227B 3.97% $115B $112B Machinery & equipment Machinery & equipment
7 Malaysia $212B 3.7% $101B $111B Machinery & equipment Raw materials & minerals
8 Australia $212B 3.7% $70.7B $141B Machinery & equipment Raw materials & minerals
9 Brazil $192B 3.36% $72.6B $120B Machinery & equipment Raw materials & minerals
10 Indonesia $148B 2.58% $76.8B $71.2B Machinery & equipment Metals

Top 10 exports

China Rank
Machinery & equipment $1.86T 1/193
Textiles & consumer goods $690B 1/193
Chemicals & pharma $297B 3/193
Metals $261B 1/192
Raw materials & minerals $144B 7/193
Miscellaneous $121B 1/191
Business & finance services $111B 5/188
Transport & tourism services $106B 7/188
IT & IP services $96.5B 4/183
Manufacturing & construction services $54.9B 1/164

Top 10 imports

China Rank
Machinery & equipment $965B 2/193
Raw materials & minerals $810B 1/193
Transport & tourism services $370B 1/188
Chemicals & pharma $209B 3/193
Metals $149B 2/193
Precious metals & jewellery $124B 2/193
Raw agricultural goods $104B 1/193
IT & IP services $82.5B 3/182
Business & finance services $77.1B 7/188
Textiles & consumer goods $64.5B 4/193

Economic freedom indices

China Rank
Economic freedom 48.3 170/197
Property rights 40.9 120/182
Government integrity 42.3 86/182
Judicial effectiveness 38.6 106/182
Tax burden 69.3 146/182
Government spending 67.8 107/180
Fiscal health 4.4 171/181
Business freedom 68.7 74/182
Labor freedom 57.9 69/182
Monetary freedom 76.1 66/180
Trade freedom 73.4 82/181
Investment freedom 20 162/181
Financial freedom 20 158/181

Economic freedom by year

1x
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
2026 48.3 38.6 69.3 67.8 4.4
2025 49 37.4 71.6 67.1 11.1
2024 48.5 39.5 69.1 65.7 8.1
2023 48.3 42 69.5 65.1 9.8
2022 48 37.4 71.2 64.2 11.1
2021 58.4 71.5 72.6 67.6 54.8
2020 59.5 76.3 70.4 67.9 67.5
2019 58.4 75.2 70.4 70.1 76
2018 57.8 65.4 70.4 71.6 85.9
2017 57.4 60.7 70 73 92.5
2016 52 - 69.7 74.3 -
2015 52.7 - 69.7 81.5 -
2014 52.5 - 69.9 82.9 -
2013 51.9 - 70.2 83.3 -
2012 51.2 - 70.4 84.1 -
2011 52 - 70.3 87 -
2010 51 - 70.2 88.1 -
2009 53.2 - 70.6 88.9 -
2008 53.1 - 66.4 89.7 -
2007 52 - 66.6 87 -
2006 53.6 - 70 86 -
2005 53.7 - 67.9 86 -
2004 52.5 - 66.4 88.4 -
2003 52.6 - 66.9 90.2 -
2002 52.8 - 70.3 92.3 -
2001 52.6 - 70.4 94.1 -
2000 56.4 - 70.4 90.3 -
1999 54.8 - 70.5 95.1 -
1998 53.1 - 70.5 95.9 -
1997 51.7 - 70.4 95.4 -
1996 51.3 - 70.7 94.6 -
1995 52 - 70.6 93.7 -

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

GeoRank.org/economy/china | CC BY

China is ranked 152/174 for economic freedom with a score of 48.3, compared to 118/162 and a score of 53.6 in 2006.

Other economic metrics

China Rank
Services, % of GDP
56.7%
2024
100/191
Industry, % of GDP
36.5%
2024
28/194
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
94/193
GNI, Atlas method
$19.3T
2024
2/194
GNI per capita, PPP
$26,920
2024
70/191
Total reserves including gold
$3.46T
2024
1/177
Net foreign direct investment
$154B
2024
2/189
Net inflows of foreign direct investment
$18.6B
2024
22/193
Net outflows of foreign direct investment
$172B
2024
3/193
Servicing debt to the IMF, % of GNI
1.89%
2024
96/121
Poverty at national poverty lines
0%
2020
176/176
Gross capital formation, % of GDP
40.6%
2024
7/178

Compare China vs other countries

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/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 (2022–2024, 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.