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Economy of China vs Ghana compared: GDP & Debt

Updated on by Georank

China has a GDP of $19.5T compared to $114B for Ghana, ranking 2/197 and 69/197 by economy size, respectively.

China has $19.3T in government debt (99.2% of GDP), compared to $55.8B (48.8% of GDP) in Ghana.

China vs Ghana GDP by year

China
Ghana
1x
Year GDP, current $
China Ghana
2025 $19,498,039,388,043 $114,209,905,279
2024 $18,729,668,435,848 $83,288,585,604
2023 $18,270,356,654,533 $80,547,146,876
2022 $18,316,765,021,690 $73,919,003,212
2021 $18,201,698,719,564 $79,514,204,730
2020 $14,996,414,166,715 $70,008,243,860
2019 $14,560,167,101,283 $68,352,629,246
2018 $14,147,765,772,964 $67,259,353,966
2017 $12,537,559,062,283 $60,385,409,435
2016 $11,456,024,084,962 $56,144,179,398
2015 $11,280,814,787,469 $49,436,806,230
2014 $10,674,533,168,257 $54,678,533,806
2013 $9,743,124,247,267 $62,845,721,960
2012 $8,673,664,713,189 $41,271,701,061
2011 $7,671,757,207,851 $39,336,668,081
2010 $6,192,564,874,453 $32,197,655,567
2009 $5,189,577,094,998 $26,048,720,006
2008 $4,667,346,414,522 $28,679,383,241
2007 $3,604,055,822,572 $24,827,339,138
2006 $2,791,498,472,804 $20,885,037,597
2005 $2,317,551,298,052 $10,744,568,381
2004 $1,984,196,551,300 $8,881,417,907
2003 $1,683,903,309,844 $7,632,723,556
2002 $1,489,821,682,051 $6,166,197,848
2001 $1,355,036,590,252 $5,314,872,854
2000 $1,223,754,919,971 $4,982,850,662
1999 $1,103,843,203,576 $7,718,109,982
1998 $1,037,134,141,760 $7,482,069,162
1997 $967,753,570,435 $6,891,443,192
1996 $868,523,936,530 $6,932,991,739
1995 $738,190,896,228 $6,464,382,808
1994 $566,929,539,493 $5,446,383,727
1993 $446,557,291,212 $5,968,922,939
1992 $428,502,354,788 $6,416,103,926
1991 $384,510,452,962 $6,603,185,268
1990 $361,560,229,446 $5,889,106,573
1989 $348,380,566,802 $5,251,858,440
1988 $312,888,888,889 $5,197,765,032
1987 $273,455,156,951 $5,074,829,932
1986 $301,310,144,928 $5,735,677,434
1985 $310,064,625,850 $4,504,306,723
1984 $260,442,857,143 $4,412,279,843
1983 $231,130,268,199 $4,057,275,132
1982 $205,480,916,031 $4,035,994,398
1981 $196,218,253,968 $4,222,441,860
1980 $191,487,500,000 $4,445,228,216
1979 $178,573,913,043 $4,020,227,920
1978 $149,788,617,886 $3,662,478,185
1977 $175,226,595,860 $3,189,428,571
1976 $154,196,810,059 $2,765,254,237
1975 $163,687,619,736 $2,810,106,383
1974 $144,418,433,058 $2,894,409,938
1973 $138,764,340,892 $3,006,766,758
1972 $113,871,930,714 $2,112,293,280
1971 $99,959,013,880 $2,417,108,578
1970 $92,752,930,873 $2,215,028,588
1969 $79,847,786,729 $1,962,050,556
1968 $70,980,323,819 $1,666,909,518
1967 $73,011,350,596 $1,747,187,645
1966 $76,854,053,259 $2,126,300,672
1965 $70,565,994,356 $2,053,462,968
1964 $59,821,862,703 $1,731,296,200
1963 $50,812,227,919 $1,540,797,589
1962 $47,310,737,754 $1,382,515,654
1961 $50,162,299,350 $1,302,674,325
1960 $59,846,235,025 $1,217,230,095

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in China vs Ghana by year

China
GDP per capita

GDP per capita, PPP
Ghana
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Ghana
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,862 - $3,257 -
2024 $13,293 $27,105 $2,419 $8,020
2023 $12,951 $25,179 $2,384 $7,556
2022 $12,971 $23,032 $2,230 $7,208
2021 $12,887 $20,843 $2,445 $6,608
2020 $10,627 $18,267 $2,195 $6,047
2019 $10,343 $17,601 $2,187 $6,003
2018 $10,086 $16,298 $2,195 $5,536
2017 $8,980 $15,022 $2,012 $5,171
2016 $8,255 $14,157 $1,912 $5,011
2015 $8,175 $13,463 $1,723 $5,191
2014 $7,781 $12,942 $1,950 $5,517
2013 $7,147 $12,228 $2,295 $5,215
2012 $6,405 $11,420 $1,544 $4,934
2011 $5,704 $10,457 $1,507 $4,381
2010 $4,629 $9,411 $1,264 $3,855
2009 $3,898 $8,448 $1,048 $3,617
2008 $3,523 $7,713 $1,183 $3,516
2007 $2,735 $6,935 $1,050 $3,241
2006 $2,129 $5,946 $906 $3,103
2005 $1,778 $5,148 $479 $2,904
2004 $1,531 $4,505 $406 $2,729
2003 $1,307 $4,007 $358 $2,584
2002 $1,164 $3,591 $297.5 $2,475
2001 $1,065 $3,258 $263.5 $2,397
2000 $969 $2,964 $253.7 $2,315
1999 $881 $2,690 $403 $2,239
1998 $835 $2,483 $400 $2,167
1997 $787 $2,297 $378 $2,097
1996 $713 $2,088 $389 $2,026
1995 $613 $1,884 $372 $1,947
1994 $476 $1,680 $321 $1,875
1993 $379 $1,471 $360 $1,821
1992 $368 $1,276 $396 $1,739
1991 $334 $1,105 $418 $1,678
1990 $319 $991 $383 $1,581
1989 $311 - $350 -
1988 $284 - $355 -
1987 $252.3 - $355 -
1986 $282.4 - $411 -
1985 $295 - $330 -
1984 $251.2 - $330 -
1983 $225.9 - $311 -
1982 $203.7 - $319 -
1981 $197.4 - $344 -
1980 $195.1 - $372 -
1979 $184.3 - $347 -
1978 $156.7 - $326 -
1977 $185.7 - $292.3 -
1976 $165.7 - $261 -
1975 $178.6 - $273 -
1974 $160.4 - $289.4 -
1973 $157.3 - $310 -
1972 $132.1 - $223.8 -
1971 $118.8 - $263.4 -
1970 $113.3 - $248.2 -
1969 $100.3 - $225.8 -
1968 $91.6 - $196.7 -
1967 $96.8 - $211.2 -
1966 $104.5 - $263.3 -
1965 $98.7 - $260.5 -
1964 $85.7 - $225 -
1963 $74.5 - $205 -
1962 $71.1 - $188.4 -
1961 $76 - $181.9 -
1960 $89.7 - $174.9 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

China's GDP per capita is $13,862, ranking 77/197, compared to $3,257 in Ghana, ranking 139/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Ghana ranks 140th at $8,020.

Economic indicators

China Ghana
Gross domestic product
$19.5T
2025
$114B
2025
GDP rank
2/197
2025
69/197
2025
GDP growth
4.96%
2024-2025
5.95%
2024-2025
GDP per capita
$13,862
2025
$3,257
2025
GDP per capita rank
77/197
2025
139/197
2025
GDP per capita, PPP
$27,105
2024
$8,020
2024
GDP per capita PPP rank
77/197
2024
140/197
2024
Government debt
$19.3T
2025
$55.8B
2025
Debt-to-GDP ratio
99.2%
2025
48.8%
2025
Government debt per person
$13,756
2025
$1,590
2025
Government debt per person rank
47/185
2025
128/185
2025
Average annual personal income after taxes
$10,414
2026
$2,135
2026
Market capitalization of domestic companies
$15.5T
2025
$16.4B
2025
Number of millionaires
5,305,000
2026
n/a
Number of billionaires
539
2026
n/a
Income share by richest 10%
28.4%
2022
32.2%
2016
Income share by poorest 10%
3.1%
2022
1.6%
2016
Government expenditure, % of GDP
32.9%
2025
17%
2025
Consumer prices inflation
0%
2024-2025
14.2%
2024-2025
Central bank interest rate
3%
2025
14%
2026
Unemployment rate
4.57%
2022
3.97%
2024
Population
1403335670
36032857

Spending and national debt comparison by year

China
Spending

Debt
Ghana
Spending

Debt
1x
Year % of GDP
China Ghana
Government spending Government debt Government spending Government debt
2025 32.9% 99.2% 17% 48.8%
2024 32.9% 90.4% 22% 70.3%
2023 32.7% 84.1% 18.5% 79.1%
2022 32.6% 77.3% 27.5% 92.7%
2021 31.9% 72.1% 27.2% 86.9%
2020 34.8% 70.1% 31.5% 79.1%
2019 33.6% 59.8% 22.5% 62.9%
2018 32.6% 55.9% 20.9% 62%
2017 32% 53.9% 17.6% 57%
2016 31.7% 50% 19.9% 55.9%
2015 31% 40.8% 18.6% 53.9%
2014 28.4% 39.3% 21% 50.1%
2013 28.1% 36.4% 21.6% 42.9%
2012 27.7% 33.8% 22.1% 35.5%
2011 26.6% 33.2% 19.5% 31.2%
2010 24.7% 33.3% 19% 32.9%
2009 25.2% 34% 16.6% 25.4%
2008 22.2% 26.7% 16.6% 23.2%
2007 17.9% 28.7% 16.8% 21.1%
2006 18.1% 25.2% 14.4% 17.3%
2005 18% 25.9% 12.9% 31.7%
2004 17.6% 26% 13.7% 38.4%
2003 18% 26.4% 12.1% 49.3%
2002 18.2% 25.6% 10.7% 54.1%
2001 17.2% 24.3% 13.8% 57.8%
2000 16.1% 22.7% 12% 74.5%
1999 14.9% 21.6% 11.1% 51.7%
1998 12.6% 20.4% 11.8% 37.6%
1997 11.5% 20.4% 12% 45.2%
1996 11% 21.2% 12.4% 42.9%
1995 11.1% 21.4% 13% 47.6%
1994 12.4% - 12.7% 50.6%
1993 13.4% - 12.1% 34.1%
1992 14.6% - 9.2% 21.3%
1991 16.5% - 7.09% 17.3%
1990 18.2% - 6.59% 17.8%
1989 18.6% - 7.24% 23%
1988 20.9% 4.46% 7.23% 23.5%
1987 23.4% 3.6% 7.32% 26.8%
1986 25.6% 3.24% 7.29% 18.2%
1985 25.8% 3.31% 6.08% 14.4%
1984 26.9% 0.97% 4.64% 13%
1983 28.3% - 3.49% 9.21%
1982 27.9% - 4.73% 8.51%
1981 - - 5.74% 8.77%
1980 - - 7.51% 9.75%
1979 - - 9.14% 11.5%
1978 - - 6.54% 11.4%
1977 - - 10.5% 20.7%
1976 - - 12.8% 26%
1975 - - 13.2% 21.8%
1974 - - 9.52% 21.8%
1973 - - 9.35% 25.4%
1972 - - 11.4% 29.8%
1971 - - 11.7% 29.5%
1970 - - 12.2% 31.9%
1969 - - 11.2% 31.4%
1968 - - 12.3% 34.5%
1967 - - 11.5% 33.9%
1966 - - 9.12% 29.8%
1965 - - 14.2% 30.2%
1964 - - 15.8% 30.8%
1963 - - 15.3% 30.5%
1962 - - 12.5% 11.8%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, China's government spending was $6.41T, accounting for 32.9% of its GDP, while Ghana spent $19.4B, or 17% of GDP.

Debt-to-GDP ratio is 99.2% in China and 48.8% in Ghana, ranking 26/185 and 108/185, respectively.

Government deficit by year

Deficit/surplus
China

Ghana
1x
Year Deficit/surplus, % of GDP
China Ghana
2025 -7.87% -1.35%
2024 -7.11% -6.23%
2023 -6.71% -3.37%
2022 -7.32% -11.8%
2021 -5.9% -12%
2020 -9.56% -17.4%
2019 -6% -7.52%
2018 -4.2% -6.79%
2017 -3.34% -3.97%
2016 -3.33% -6.75%
2015 -2.5% -4.01%
2014 -0.67% -7.81%
2013 -0.82% -9.12%
2012 -0.3% -8.36%
2011 -0.1% -5.47%
2010 -0.36% -7.13%
2009 -1.72% -5.05%
2008 -0.02% -5.56%
2007 0.06% -4.91%
2006 -1.13% -3.11%
2005 -1.38% -1.87%
2004 -1.49% -2.02%
2003 -2.36% -1.99%
2002 -2.84% -2.73%
2001 -2.56% -3.64%
2000 -2.81% -3.98%
1999 -2.3% -5.64%
1998 -1.08% -5.27%
1997 -0.73% -6.14%
1996 -0.73% -5.61%
1995 -0.94% -4.52%
1994 -1.68% -4.99%
1993 -0.89% -5.39%
1992 -1.22% -4.5%
1991 -1.04% -1.47%
1990 -0.72% -1.93%
1989 -0.91% -0.81%
1988 -2.22% -1.08%
1987 -2.08% -0.92%
1986 -1.82% -1.26%
1985 -0.45% -1.19%
1984 -1.44% -0.98%
1983 -1.61% -1.13%
1982 -1.33% -2.03%
1981 - -3.8%
1980 - -4.73%
1979 - -3.61%
1978 - -1.21%
1977 - -4.68%
1976 - -5.53%
1975 - -4.05%
1974 - -2.06%
1973 - -2.64%
1972 - -2.19%
1971 - 0.13%
1970 - -2.35%
1969 - -2.67%
1968 - -2.34%
1967 - -2.32%
1966 - -1.29%
1965 - -3.29%
1964 - -3.72%
1963 - -5.66%
1962 - -5.04%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08).

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

In 2025, China's government deficit, the difference between spending and revenue, was $1.53T, equivalent to 7.87% of GDP. This compares to Ghana's deficit of $1.54B, or 1.35% of GDP.

Over the past 44 years, China recorded a fiscal deficit in 43 of those years, while Ghana ran a deficit in 44 years. On average, China posted an annual deficit equal to 2.4% of GDP, compared to deficit of 4.75% of GDP for Ghana.

Inflation comparison by year

Inflation
China

Ghana
1x
Year Consumer prices inflation
China Ghana
2025 0% 14.2%
2024 0.2% 22.8%
2023 0.2% 38.1%
2022 2% 31.3%
2021 0.9% 9.97%
2020 2.5% 9.89%
2019 2.9% 7.14%
2018 2.1% 7.81%
2017 1.6% 12.4%
2016 2% 17.5%
2015 1.4% 17.1%
2014 2% 15.5%
2013 2.6% 11.7%
2012 2.6% 11.2%
2011 5.4% 8.73%
2010 3.3% 10.7%
2009 -0.7% 19.2%
2008 5.8% 16.5%
2007 4.8% 10.7%
2006 1.5% 11.7%
2005 1.8% 15.4%
2004 3.9% 18%
2003 1.2% 29.8%
2002 -0.8% 9.36%
2001 0.7% 41.5%
2000 0.4% 40.2%
1999 -1.4% 4.87%
1998 -0.8% 14.6%
1997 2.8% 27.9%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2025, retrieved 2026-07-08); World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08).

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

Over the past 29 years, China has recorded an average annual inflation rate of 1.76%, compared with 17.4% in Ghana. In 2025, inflation was 0% in China and 14.2% in Ghana.

Top exports between countries

China
Export category Export value
Machinery & equipment $4.21B
Textiles & consumer goods $2.91B
Metals $1.62B
Chemicals & pharma $1.34B
Raw materials & minerals $493M
Processed food, beverages & tobacco $321M
Wood & paper products $166M
Miscellaneous $152M
Raw agricultural goods $118M
Animal & marine products $103M
Ghana
Export category Export value
Raw materials & minerals $1.45B
Processed food, beverages & tobacco $19.4M
Animal & marine products $14.9M
Metals $8.73M
Machinery & equipment $3.07M
Raw agricultural goods $1.95M
Wood & paper products $1.78M
Textiles & consumer goods $740K
Chemicals & pharma $548K
Precious metals & jewellery $48K

Balance of trade

China Ghana
Current account balance
$735B
2025
$9.39B
2025
Current account balance ranking
1/190
2025
25/190
2025
Current account balance, % of GDP
+3.77%
2025
+8.22%
2025
Goods imports
$2.69T
2025
$17.5B
2025
Goods exports
$3.75T
2025
$31.2B
2025
Service imports
$623B
2025
$14.6B
2025
Service exports
$385B
2025
$10.1B
2025
Imports of goods and services, % of GDP
16.9%
2025
33.9%
2024
Exports of goods and services, % of GDP
21.1%
2025
35.1%
2024

Economic freedom indices

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

China Ghana
Economic freedom 48.3 57.3
Economic freedom ranking 170/197 118/197
Property rights 40.9 50.2
Government integrity 42.3 45.4
Judicial effectiveness 38.6 57.5
Tax burden 69.3 79.4
Government spending 67.8 84
Fiscal health 4.4 10.1
Business freedom 68.7 64.5
Labor freedom 57.9 54.9
Monetary freedom 76.1 56.7
Trade freedom 73.4 65.2
Investment freedom 20 60
Financial freedom 20 60

Economic freedom comparison by year

China
Ghana
1x
Year Economic freedom index
China Ghana
2026 48.3 57.3
2025 49 56
2024 48.5 55.8
2023 48.3 58
2022 48 59.8
2021 58.4 59.2
2020 59.5 59.4
2019 58.4 57.5
2018 57.8 56
2017 57.4 56.2
2016 52 63
2015 52.7 63
2014 52.5 64.2
2013 51.9 61.3
2012 51.2 60.7
2011 52 59.4
2010 51 60.2
2009 53.2 58.1
2008 53.1 57
2007 52 57.6
2006 53.6 55.6
2005 53.7 56.5
2004 52.5 59.1
2003 52.6 58.2
2002 52.8 57.2
2001 52.6 58
2000 56.4 58.1
1999 54.8 57.9
1998 53.1 57
1997 51.7 56.7
1996 51.3 57.7
1995 52 55.6

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08).

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

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 57.3 for Ghana, ranking 118/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Ghana
Services, % of GDP
57.7%
2025
42.9%
2025
Industry, % of GDP
35.6%
2025
29.3%
2025
Agriculture, forestry, and fishing, % of GDP
6.66%
2025
21.3%
2025
GNI, Atlas method
$20T
2025
$92.3B
2025
GNI per capita, PPP
$29,160
2025
$8,080
2025
Total reserves including gold
$3.75T
2025
$4.47B
2024
Total reserves ranking
1/177
2025
108/177
2024
Net foreign direct investment
$77.2B
2025
-$1.87B
2025
Net inflows of foreign direct investment
$42.6B
2024
$1.77B
2024
Net outflows of foreign direct investment
$192B
2024
$5.37M
2024
Servicing debt to the IMF, % of GNI
1.9%
2024
3.5%
2024
Poverty at national poverty lines
0%
2020
23.4%
2016
Gross capital formation, % of GDP
40.5%
2024
9.9%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2024–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.