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 96.3%.
In 2025, China made up 16.8% of the world's economy, compared to 4.38% in 1960.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1960 | $59,846,235,025 | $161,023,131,028 | - |
| 1961 | $50,162,299,350 | $117,112,123,191 | -16.2% |
| 1962 | $47,310,737,754 | $110,577,266,728 | -5.68% |
| 1963 | $50,812,227,919 | $121,966,725,197 | 7.4% |
| 1964 | $59,821,862,703 | $144,140,275,830 | 17.7% |
| 1965 | $70,565,994,356 | $168,572,052,589 | 18% |
| 1966 | $76,854,053,259 | $186,524,976,187 | 8.91% |
| 1967 | $73,011,350,596 | $175,762,485,054 | -5% |
| 1968 | $70,980,323,819 | $168,556,223,190 | -2.78% |
| 1969 | $79,847,786,729 | $197,109,647,392 | 12.5% |
| 1970 | $92,752,930,873 | $235,151,809,332 | 16.2% |
| 1971 | $99,959,013,880 | $251,753,527,067 | 7.77% |
| 1972 | $113,871,930,714 | $261,345,336,449 | 13.9% |
| 1973 | $138,764,340,892 | $281,625,734,560 | 21.9% |
| 1974 | $144,418,433,058 | $288,131,289,037 | 4.07% |
| 1975 | $163,687,619,736 | $313,256,337,433 | 13.3% |
| 1976 | $154,196,810,059 | $308,338,212,930 | -5.8% |
| 1977 | $175,226,595,860 | $331,679,415,654 | 13.6% |
| 1978 | $149,788,617,886 | $369,245,353,261 | -14.5% |
| 1979 | $178,573,913,043 | $397,275,966,893 | 19.2% |
| 1980 | $191,487,500,000 | $428,399,142,253 | 7.23% |
| 1981 | $196,218,253,968 | $450,302,166,910 | 2.47% |
| 1982 | $205,480,916,031 | $491,096,319,837 | 4.72% |
| 1983 | $231,130,268,199 | $543,778,042,482 | 12.5% |
| 1984 | $260,442,857,143 | $626,609,364,484 | 12.7% |
| 1985 | $310,064,625,850 | $710,797,305,027 | 19.1% |
| 1986 | $301,310,144,928 | $774,307,505,788 | -2.82% |
| 1987 | $273,455,156,951 | $864,345,705,903 | -9.24% |
| 1988 | $312,888,888,889 | $961,347,723,725 | 14.4% |
| 1989 | $348,380,566,802 | $1,001,785,223,304 | 11.3% |
| 1990 | $361,560,229,446 | $1,041,271,896,196 | 3.78% |
| 1991 | $384,510,452,962 | $1,138,752,669,459 | 6.35% |
| 1992 | $428,502,354,788 | $1,301,589,870,245 | 11.4% |
| 1993 | $446,557,291,212 | $1,482,889,338,699 | 4.21% |
| 1994 | $566,929,539,493 | $1,676,743,149,158 | 27% |
| 1995 | $738,190,896,228 | $1,861,735,071,148 | 30.2% |
| 1996 | $868,523,936,530 | $2,047,465,483,837 | 17.7% |
| 1997 | $967,753,570,435 | $2,237,626,840,760 | 11.4% |
| 1998 | $1,037,134,141,760 | $2,414,864,610,328 | 7.17% |
| 1999 | $1,103,843,203,576 | $2,601,702,759,079 | 6.43% |
| 2000 | $1,223,754,919,971 | $2,825,096,197,800 | 10.9% |
| 2001 | $1,355,036,590,252 | $3,059,936,242,479 | 10.7% |
| 2002 | $1,489,821,682,051 | $3,342,778,183,071 | 9.95% |
| 2003 | $1,683,903,309,844 | $3,681,006,926,651 | 13% |
| 2004 | $1,984,196,551,300 | $4,053,944,733,454 | 17.8% |
| 2005 | $2,317,551,298,052 | $4,518,455,387,849 | 16.8% |
| 2006 | $2,791,498,472,804 | $5,091,154,930,758 | 20.5% |
| 2007 | $3,604,055,822,572 | $5,811,552,614,974 | 29.1% |
| 2008 | $4,667,346,414,522 | $6,373,544,042,638 | 29.5% |
| 2009 | $5,189,577,094,998 | $6,972,829,250,985 | 11.2% |
| 2010 | $6,192,564,874,453 | $7,711,689,202,853 | 19.3% |
| 2011 | $7,671,757,207,851 | $8,441,318,020,902 | 23.9% |
| 2012 | $8,673,664,713,189 | $9,104,482,675,356 | 13.1% |
| 2013 | $9,743,124,247,267 | $9,812,695,262,901 | 12.3% |
| 2014 | $10,674,533,168,257 | $10,544,908,798,424 | 9.56% |
| 2015 | $11,280,814,787,469 | $11,280,814,787,469 | 5.68% |
| 2016 | $11,456,024,084,962 | $12,045,152,668,727 | 1.55% |
| 2017 | $12,537,559,062,283 | $12,875,216,222,853 | 9.44% |
| 2018 | $14,147,765,772,964 | $13,745,158,275,137 | 12.8% |
| 2019 | $14,560,167,101,283 | $14,579,283,528,148 | 2.91% |
| 2020 | $14,996,414,166,715 | $14,920,466,234,565 | 3% |
| 2021 | $18,201,698,719,564 | $16,199,162,892,909 | 21.4% |
| 2022 | $18,316,765,021,690 | $16,706,875,253,649 | 0.63% |
| 2023 | $18,270,356,654,533 | $17,611,526,369,127 | -0.25% |
| 2024 | $18,743,803,170,827 | $18,488,114,837,769 | 2.59% |
Economic Statistics of China
China
|
Rank | |
|---|---|---|
| Gross domestic product |
$18.7T
2024 |
2/197 |
| GDP growth |
2.59%
2023-2024 |
156/196 |
| 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 |
96.3%
2025 |
26/185 |
| Government debt per person |
$11,750
2024 |
48/185 |
| Average annual personal income after taxes |
$9,060
2025 |
79/197 |
| Listed domestic companies |
11,231
2024 |
1/103 |
| Market capitalization of domestic companies |
$11.8T
2024 |
2/100 |
| Number of millionaires |
6,013,282
2024 |
2/34 |
| Millionaire frequency |
1 in 183
2024 |
23/34 |
| 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 |
33.7%
2025 |
76/195 |
| Consumer prices inflation |
0%
2024-2025 |
185/195 |
| Central bank interest rate |
3.1%
2024 |
85/105 |
| Unemployment rate |
5.11%
2021 |
102/196 |
| Population |
1405773318
|
2/197 |
China's GDP per capita
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 $9,060, ranking 79/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1960 | $89.7 | - |
| 1961 | $76 | - |
| 1962 | $71.1 | - |
| 1963 | $74.5 | - |
| 1964 | $85.7 | - |
| 1965 | $98.7 | - |
| 1966 | $104.5 | - |
| 1967 | $96.8 | - |
| 1968 | $91.6 | - |
| 1969 | $100.3 | - |
| 1970 | $113.3 | - |
| 1971 | $118.8 | - |
| 1972 | $132.1 | - |
| 1973 | $157.3 | - |
| 1974 | $160.4 | - |
| 1975 | $178.6 | - |
| 1976 | $165.7 | - |
| 1977 | $185.7 | - |
| 1978 | $156.7 | - |
| 1979 | $184.3 | - |
| 1980 | $195.1 | - |
| 1981 | $197.4 | - |
| 1982 | $203.7 | - |
| 1983 | $225.9 | - |
| 1984 | $251.2 | - |
| 1985 | $295 | - |
| 1986 | $282.4 | - |
| 1987 | $252.3 | - |
| 1988 | $284 | - |
| 1989 | $311 | - |
| 1990 | $319 | $991 |
| 1991 | $334 | $1,105 |
| 1992 | $368 | $1,276 |
| 1993 | $379 | $1,471 |
| 1994 | $476 | $1,680 |
| 1995 | $613 | $1,884 |
| 1996 | $713 | $2,088 |
| 1997 | $787 | $2,297 |
| 1998 | $835 | $2,483 |
| 1999 | $881 | $2,690 |
| 2000 | $969 | $2,964 |
| 2001 | $1,065 | $3,258 |
| 2002 | $1,164 | $3,591 |
| 2003 | $1,307 | $4,007 |
| 2004 | $1,531 | $4,505 |
| 2005 | $1,778 | $5,148 |
| 2006 | $2,129 | $5,946 |
| 2007 | $2,735 | $6,935 |
| 2008 | $3,523 | $7,713 |
| 2009 | $3,898 | $8,448 |
| 2010 | $4,629 | $9,411 |
| 2011 | $5,704 | $10,457 |
| 2012 | $6,405 | $11,420 |
| 2013 | $7,147 | $12,228 |
| 2014 | $7,781 | $12,942 |
| 2015 | $8,175 | $13,463 |
| 2016 | $8,255 | $14,157 |
| 2017 | $8,980 | $15,022 |
| 2018 | $10,086 | $16,298 |
| 2019 | $10,343 | $17,601 |
| 2020 | $10,627 | $18,267 |
| 2021 | $12,887 | $20,843 |
| 2022 | $12,971 | $23,032 |
| 2023 | $12,951 | $25,179 |
| 2024 | $13,303 | $27,105 |
China's government spending, deficit, and chart
This chart shows China's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 44 years, China recorded a fiscal deficit in 43 years — average annual deficit equal to -2.42% of GDP. In 2024, government spending reached $6.18T (33.7% of GDP), with a deficit of -8.57%.
The national debt reached $16.6T, ranking 2nd out of 185 countries by total size, with a debt-to-GDP ratio of 96.3%, ranking 26th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1982 | 27.9% | - | -1.33% |
| 1983 | 28.3% | - | -1.61% |
| 1984 | 26.9% | 0.97% | -1.44% |
| 1985 | 25.8% | 3.31% | -0.45% |
| 1986 | 25.6% | 3.24% | -1.82% |
| 1987 | 23.4% | 3.6% | -2.08% |
| 1988 | 20.9% | 4.46% | -2.22% |
| 1989 | 18.6% | - | -0.91% |
| 1990 | 18.2% | - | -0.72% |
| 1991 | 16.5% | - | -1.04% |
| 1992 | 14.6% | - | -1.22% |
| 1993 | 13.4% | - | -0.89% |
| 1994 | 12.4% | - | -1.68% |
| 1995 | 11.1% | 21.4% | -0.94% |
| 1996 | 11% | 21.2% | -0.73% |
| 1997 | 11.5% | 20.4% | -0.73% |
| 1998 | 12.6% | 20.4% | -1.08% |
| 1999 | 14.9% | 21.6% | -2.3% |
| 2000 | 16.1% | 22.7% | -2.81% |
| 2001 | 17.2% | 24.3% | -2.56% |
| 2002 | 18.2% | 25.6% | -2.84% |
| 2003 | 18% | 26.4% | -2.36% |
| 2004 | 17.6% | 26% | -1.49% |
| 2005 | 18% | 25.9% | -1.38% |
| 2006 | 18.1% | 25.2% | -1.13% |
| 2007 | 17.9% | 28.7% | 0.06% |
| 2008 | 22.2% | 26.7% | -0.02% |
| 2009 | 25.2% | 34% | -1.72% |
| 2010 | 24.7% | 33.3% | -0.36% |
| 2011 | 26.6% | 33.2% | -0.1% |
| 2012 | 27.7% | 33.8% | -0.3% |
| 2013 | 28.1% | 36.4% | -0.82% |
| 2014 | 28.4% | 39.3% | -0.67% |
| 2015 | 31% | 40.8% | -2.5% |
| 2016 | 31.7% | 49.7% | -3.33% |
| 2017 | 32% | 53.9% | -3.34% |
| 2018 | 32.6% | 55.6% | -4.2% |
| 2019 | 33.6% | 59.4% | -6% |
| 2020 | 34.8% | 69% | -9.56% |
| 2021 | 31.9% | 70.1% | -5.9% |
| 2022 | 32.6% | 75.5% | -7.32% |
| 2023 | 32.7% | 82% | -6.71% |
| 2024 | 32.9% | 88.3% | -7.34% |
| 2025 | 33.7% | 96.3% | -8.57% |
Inflation rate by year
Over the past 20 years, China has had an average annual inflation rate of 2.17%. In 2025, inflation was 0%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1981 | 2.5% |
| 1982 | 2% |
| 1983 | 2% |
| 1984 | 2.7% |
| 1985 | 9.3% |
| 1986 | 6.5% |
| 1987 | 7.3% |
| 1988 | 18.8% |
| 1989 | 18% |
| 1990 | 3.3% |
| 1991 | 3.6% |
| 1992 | 6.4% |
| 1993 | 14.6% |
| 1994 | 24.3% |
| 1995 | 16.8% |
| 1996 | 8.3% |
| 1997 | 2.8% |
| 1998 | -0.8% |
| 1999 | -1.4% |
| 2000 | 0.4% |
| 2001 | 0.7% |
| 2002 | -0.8% |
| 2003 | 1.1% |
| 2004 | 3.9% |
| 2005 | 1.8% |
| 2006 | 1.5% |
| 2007 | 4.7% |
| 2008 | 5.9% |
| 2009 | -0.7% |
| 2010 | 3.3% |
| 2011 | 5.4% |
| 2012 | 2.6% |
| 2013 | 2.7% |
| 2014 | 2% |
| 2015 | 1.5% |
| 2016 | 2% |
| 2017 | 1.6% |
| 2018 | 2.1% |
| 2019 | 2.9% |
| 2020 | 2.5% |
| 2021 | 0.9% |
| 2022 | 2% |
| 2023 | 0.2% |
| 2024 | 0.2% |
| 2025 | 0% |
Balance of trade
|
China
|
Rank | |
|---|---|---|
Current account balance
|
$424B
2024 |
1/189 |
| Current account balance, % of GDP |
+2.26%
2024 |
52/189 |
| Goods imports |
$2.64T
2024 |
2/188 |
| Goods exports |
$3.41T
2024 |
1/188 |
| Service imports |
$613B
2024 |
2/188 |
| Service exports |
$384B
2024 |
7/188 |
| Imports of goods and services, % of GDP |
17.2%
2024 |
172/180 |
| Exports of goods and services, % of GDP |
20%
2024 |
148/193 |
China's 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 |
China's 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 |
China's 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 | 49 | 167/197 |
| Property rights | 46.7 | 100/182 |
| Government integrity | 40.4 | 100/182 |
| Judicial effectiveness | 37.4 | 100/182 |
| Tax burden | 71.6 | 140/181 |
| Government spending | 67.1 | 113/180 |
| Fiscal health | 11.1 | 162/181 |
| Business freedom | 67.7 | 87/182 |
| Labor freedom | 57.9 | 81/182 |
| Monetary freedom | 74.6 | 48/180 |
| Trade freedom | 74 | 74/181 |
| Investment freedom | 20 | 164/181 |
| Financial freedom | 20 | 158/181 |
China's economic freedom by year
China is ranked 153/180 for economic freedom with a score of 49, compared to 114/163 and a score of 53.7 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1995 | 52 | - | 70.6 | 93.7 | - |
| 1996 | 51.3 | - | 70.7 | 94.6 | - |
| 1997 | 51.7 | - | 70.4 | 95.4 | - |
| 1998 | 53.1 | - | 70.5 | 95.9 | - |
| 1999 | 54.8 | - | 70.5 | 95.1 | - |
| 2000 | 56.4 | - | 70.4 | 90.3 | - |
| 2001 | 52.6 | - | 70.4 | 94.1 | - |
| 2002 | 52.8 | - | 70.3 | 92.3 | - |
| 2003 | 52.6 | - | 66.9 | 90.2 | - |
| 2004 | 52.5 | - | 66.4 | 88.4 | - |
| 2005 | 53.7 | - | 67.9 | 86 | - |
| 2006 | 53.6 | - | 70 | 86 | - |
| 2007 | 52 | - | 66.6 | 87 | - |
| 2008 | 53.1 | - | 66.4 | 89.7 | - |
| 2009 | 53.2 | - | 70.6 | 88.9 | - |
| 2010 | 51 | - | 70.2 | 88.1 | - |
| 2011 | 52 | - | 70.3 | 87 | - |
| 2012 | 51.2 | - | 70.4 | 84.1 | - |
| 2013 | 51.9 | - | 70.2 | 83.3 | - |
| 2014 | 52.5 | - | 69.9 | 82.9 | - |
| 2015 | 52.7 | - | 69.7 | 81.5 | - |
| 2016 | 52 | - | 69.7 | 74.3 | - |
| 2017 | 57.4 | 60.7 | 70 | 73 | 92.5 |
| 2018 | 57.8 | 65.4 | 70.4 | 71.6 | 85.9 |
| 2019 | 58.4 | 75.2 | 70.4 | 70.1 | 76 |
| 2020 | 59.5 | 76.3 | 70.4 | 67.9 | 67.5 |
| 2021 | 58.4 | 71.5 | 72.6 | 67.6 | 54.8 |
| 2022 | 48 | 37.4 | 71.2 | 64.2 | 11.1 |
| 2023 | 48.3 | 42 | 69.5 | 65.1 | 9.8 |
| 2024 | 48.5 | 39.5 | 69.1 | 65.7 | 8.1 |
| 2025 | 49 | 37.4 | 71.6 | 67.1 | 11.1 |
More economic indicators
|
China
|
Rank | |
|---|---|---|
| Services, % of GDP |
56.7%
2024 |
98/191 |
| Industry, % of GDP |
36.5%
2024 |
33/194 |
| 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 |
2/188 |
|
Net inflows of foreign direct investment
|
$18.6B
2024 |
22/193 |
|
Net outflows of foreign direct investment
|
$172B
2024 |
3/187 |
|
Servicing debt to the IMF, % of GNI
|
2.13%
2023 |
89/119 |
| Poverty at national poverty lines |
0%
2020 |
176/176 |
|
Gross capital formation, % of GDP
|
41.1%
2023 |
4/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
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Economy comparisons
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.