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Economy of China vs Eritrea compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $2.07B for Eritrea, ranking 2/197 and 179/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $3.54B (260.4% of GDP) in Eritrea.

China vs Eritrea GDP by year

China
Eritrea
1x
Year GDP, current $
China Eritrea
2024 $18,743,803,170,827 -
2023 $18,270,356,654,533 -
2022 $18,316,765,021,690 -
2021 $18,201,698,719,564 -
2020 $14,996,414,166,715 -
2019 $14,560,167,101,283 -
2018 $14,147,765,772,964 -
2017 $12,537,559,062,283 -
2016 $11,456,024,084,962 -
2015 $11,280,814,787,469 -
2014 $10,674,533,168,257 -
2013 $9,743,124,247,267 -
2012 $8,673,664,713,189 -
2011 $7,671,757,207,851 $2,065,001,626
2010 $6,192,564,874,453 $1,589,515,447
2009 $5,189,577,094,998 $1,856,695,551
2008 $4,667,346,414,522 $1,380,188,800
2007 $3,604,055,822,572 $1,317,974,491
2006 $2,791,498,472,804 $1,211,161,880
2005 $2,317,551,298,052 $1,098,424,686
2004 $1,984,196,551,300 $1,109,054,005
2003 $1,683,903,309,844 $870,248,268
2002 $1,489,821,682,051 $729,321,680
2001 $1,355,036,590,252 $752,371,689
2000 $1,223,754,919,971 $706,370,816
1999 $1,103,843,203,576 $688,918,537
1998 $1,037,134,141,760 $745,523,117
1997 $967,753,570,435 $686,490,090
1996 $868,523,936,530 $693,535,954
1995 $738,190,896,228 $578,015,625
1994 $566,929,539,493 $531,688,312
1993 $446,557,291,212 $467,872,715
1992 $428,502,354,788 $477,101,652
1991 $384,510,452,962 -
1990 $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/china/eritrea | CC BY

GDP per capita in China vs Eritrea by year

China
GDP per capita

GDP per capita, PPP
Eritrea
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Eritrea
GDP per capita GDP per capita, PPP 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 $689 $1,742
2010 $4,629 $9,411 $540 $1,599
2009 $3,898 $8,448 $643 $1,577
2008 $3,523 $7,713 $490 $1,547
2007 $2,735 $6,935 $480 $1,727
2006 $2,129 $5,946 $448 $1,682
2005 $1,778 $5,148 $413 $1,674
2004 $1,531 $4,505 $427 $1,621
2003 $1,307 $4,007 $349 $1,621
2002 $1,164 $3,591 $305 $1,702
2001 $1,065 $3,258 $325 $1,684
2000 $969 $2,964 $314 $1,558
1999 $881 $2,690 $311 $1,597
1998 $835 $2,483 $342 $1,598
1997 $787 $2,297 $319 $1,573
1996 $713 $2,088 $326 $1,449
1995 $613 $1,884 $285.4 $1,369
1994 $476 $1,680 $277.8 $1,379
1993 $379 $1,471 $252.1 $1,149
1992 $368 $1,276 $265.2 $1,021
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/eritrea | CC BY

China's GDP per capita is $13,303, ranking 76/197, compared to $689 in Eritrea, ranking 188/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Eritrea ranks 191st at $1,742.

Economic indicators

China Eritrea
Gross domestic product
$18.7T
2024
$2.07B
2011
GDP rank
2/197
2024
179/197
2011
GDP growth
4.98%
2023-2024
8.68%
2010-2011
GDP per capita
$13,303
2024
$689
2011
GDP per capita rank
76/197
2024
188/197
2011
GDP per capita, PPP
$27,105
2024
$1,742
2011
GDP per capita PPP rank
77/197
2024
191/197
2011
Government debt
$16.6T
2024
$3.54B
2011
Debt-to-GDP ratio
88.3%
2024
260.4%
2019
Government debt per person
$11,749
2024
$1,182
2011
Government debt per person rank
47/185
2024
136/185
2011
Average annual personal income after taxes
$9,826
2026
$1,129
2026
Market capitalization of domestic companies
$11.8T
2024
n/a
Number of millionaires
6,327,000
2025
n/a
Number of billionaires
450
2025
n/a
Income share by richest 10%
28.4%
2022
n/a
Income share by poorest 10%
3.1%
2022
n/a
Government expenditure, % of GDP
32.9%
2024
31.3%
2019
Consumer prices inflation
0.2%
2023-2024
1.3%
2018-2019
Central bank interest rate
3.1%
2024
n/a
Unemployment rate
5.11%
2021
5.8%
2017
Population
1402578808
3700586

Spending and national debt comparison by year

China
Spending

Debt
Eritrea
Spending

Debt
1x
Year % of GDP
China Eritrea
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% - -
2023 32.7% 82% - -
2022 32.6% 75.5% - -
2021 31.9% 70.1% - -
2020 34.8% 69% - -
2019 33.6% 59.4% 31.3% 260.4%
2018 32.6% 55.6% 26.4% 267.1%
2017 32% 53.9% 42.5% 290.4%
2016 31.7% 49.7% 30.9% 251.2%
2015 31% 40.8% 31.1% 271.4%
2014 28.4% 39.3% 21.6% 204.5%
2013 28.1% 36.4% 32.7% 232.4%
2012 27.7% 33.8% 33.3% 171.6%
2011 26.6% 33.2% 32.3% 171.6%
2010 24.7% 33.3% 42.4% 201.8%
2009 25.2% 34% 44.9% 207.1%
2008 22.2% 26.7% 69.4% 259.7%
2007 17.9% 28.7% 51.2% 201.3%
2006 18.1% 25.2% 50.5% 199%
2005 18% 25.9% 76.6% 205.4%
2004 17.6% 26% 57.1% 193.5%
2003 18% 26.4% 58.1% 264%
2002 18.2% 25.6% 60.1% 243.4%
2001 17.2% 24.3% 59.5% 238.6%
2000 16.1% 22.7% 84.7% 219.1%
1999 14.9% 21.6% 106.1% -
1998 12.6% 20.4% 88% -
1997 11.5% 20.4% 60.1% -
1996 11% 21.2% 68.6% -
1995 11.1% 21.4% 81.2% -
1994 12.4% - 50.4% -
1993 13.4% - 67.2% -
1992 14.6% - 32.7% -
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/china/eritrea | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Eritrea spent $666M, or 31.3% of GDP.

Debt-to-GDP ratio is 88.3% in China and 260.4% in Eritrea, ranking 34/185 and 2/185, respectively.

Government deficit by year

Deficit/surplus
China

Eritrea
1x
Year Deficit/surplus, % of GDP
China Eritrea
2024 -7.34% -
2023 -6.71% -
2022 -7.32% -
2021 -5.9% -
2020 -9.56% -
2019 -6% 2.72%
2018 -4.2% 5.22%
2017 -3.34% -5.74%
2016 -3.33% -1.44%
2015 -2.5% -2.77%
2014 -0.67% -0.12%
2013 -0.82% -7.62%
2012 -0.3% -5.21%
2011 -0.1% -5.5%
2010 -0.36% -16.5%
2009 -1.72% -22.2%
2008 -0.02% -38%
2007 0.06% -19.8%
2006 -1.13% -15.5%
2005 -1.38% -31%
2004 -1.49% -7.65%
2003 -2.36% 6.23%
2002 -2.84% -13.3%
2001 -2.56% -9.62%
2000 -2.81% -25.4%
1999 -2.3% -59.7%
1998 -1.08% -40.3%
1997 -0.73% -5.65%
1996 -0.73% -18.4%
1995 -0.94% -22.9%
1994 -1.68% 8.69%
1993 -0.89% 4.22%
1992 -1.22% 6.85%
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/china/eritrea | CC BY

In 2011, China's government deficit, the difference between spending and revenue, was $7.39B, equivalent to 0.1% of GDP. This compares to Eritrea's deficit of $114M, or 5.5% of GDP.

Over the past 20 years, China recorded a fiscal deficit in 19 of those years, while Eritrea ran a deficit in 16 years. On average, China posted an annual deficit equal to 1.31% of GDP, compared to deficit of 16.3% of GDP for Eritrea.

Inflation comparison by year

Inflation
China

Eritrea
1x
Year Consumer prices inflation
China Eritrea
2024 0.2% -
2023 0.2% -
2022 2% -
2021 0.9% -
2020 2.5% -
2019 2.9% 1.3%
2018 2.1% -14.4%
2017 1.6% -13.3%
2016 2% -5.6%
2015 1.5% 28.5%
2014 2% 8.4%
2013 2.7% 6.3%
2012 2.6% 6%
2011 5.4% 5.9%
2010 3.3% 10.3%
2009 -0.7% 33.9%
2008 5.9% 22.2%
2007 4.7% 9.4%
2006 1.5% 7.7%
2005 1.8% 12.5%
2004 3.9% 25.1%
2003 1.1% 22.7%
2002 -0.8% 16.9%
2001 0.7% 14.6%
2000 0.4% 19.9%
1999 -1.4% 8.4%
1998 -0.8% 9.5%
1997 2.8% 3.7%

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

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

Over the past 23 years, China has recorded an average annual inflation rate of 1.97%, compared with 10.4% in Eritrea. In 2019, inflation was 0.2% in China and 1.3% in Eritrea.

Top exports between countries

China
Export category Export value
Machinery & equipment $96.3M
Raw materials & minerals $17.9M
Metals $16.3M
Textiles & consumer goods $11.9M
Chemicals & pharma $8.82M
Wood & paper products $5.34M
Raw agricultural goods $2.41M
Miscellaneous $644K
Processed food, beverages & tobacco $223K
Animal & marine products $46K
Eritrea
Export category Export value
Raw agricultural goods $32K
Animal & marine products $17K

Balance of trade

China Eritrea
Current account balance
$424B
2024
-$105M
2000
Current account balance ranking
1/190
2024
89/190
2000
Current account balance, % of GDP
+2.26%
2024
-14.8%
2000
Goods imports
$2.64T
2024
$471M
2000
Goods exports
$3.41T
2024
$36.8M
2000
Service imports
$613B
2024
$28.5M
2000
Service exports
$384B
2024
$60.9M
2000
Imports of goods and services, % of GDP
17.2%
2024
29.2%
2011
Exports of goods and services, % of GDP
20%
2024
18.2%
2011

Economic freedom indices

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

China Eritrea
Economic freedom 48.3 39.6
Economic freedom ranking 170/197 188/197
Property rights 40.9 4.8
Government integrity 42.3 10.9
Judicial effectiveness 38.6 5.5
Tax burden 69.3 80.3
Government spending 67.8 62.3
Fiscal health 4.4 69
Business freedom 68.7 30.7
Labor freedom 57.9 43.4
Monetary freedom 76.1 80
Trade freedom 73.4 68.4
Investment freedom 20 0
Financial freedom 20 20

Economic freedom comparison by year

China
Eritrea
1x
Year Economic freedom index
China Eritrea
2026 48.3 39.6
2025 49 38.6
2024 48.5 39.5
2023 48.3 39.5
2022 48 39.7
2021 58.4 42.3
2020 59.5 38.5
2019 58.4 38.9
2018 57.8 41.7
2017 57.4 42.2
2016 52 42.7
2015 52.7 38.9
2014 52.5 38.5
2013 51.9 36.3
2012 51.2 36.2
2011 52 36.7
2010 51 35.3
2009 53.2 38.5
2008 53.1 -
2007 52 -
2006 53.6 -
2005 53.7 -
2004 52.5 -
2003 52.6 -
2002 52.8 -
2001 52.6 -
2000 56.4 -
1999 54.8 -
1998 53.1 -
1997 51.7 -
1996 51.3 -
1995 52 -

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 39.6 for Eritrea, ranking 188/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Eritrea
Services, % of GDP
56.7%
2024
n/a
Industry, % of GDP
36.5%
2024
21.8%
2009
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
14.1%
2009
GNI, Atlas method
$19.3T
2024
$1.94B
2011
GNI per capita, PPP
$26,920
2024
$1,720
2011
Total reserves including gold
$3.46T
2024
$192M
2019
Total reserves ranking
1/177
2024
170/177
2019
Net foreign direct investment
$154B
2024
-$27.9M
2000
Net inflows of foreign direct investment
$18.6B
2024
-$27.9M
2024
Net outflows of foreign direct investment
$172B
2024
$0
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
1.07%
2011
Poverty at national poverty lines
0%
2020
50%
2020
Gross capital formation, % of GDP
40.6%
2024
12.6%
2011

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/eritrea | 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 (2003–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2017–2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. 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.