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Economy of China vs Kuwait compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $160B for Kuwait, ranking 2/197 and 59/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $4.68B (2.92% of GDP) in Kuwait.

China vs Kuwait GDP by year

China
Kuwait
1x
Year GDP, current $
China Kuwait
2024 $18,743,803,170,827 $160,227,273,053
2023 $18,270,356,654,533 $165,384,407,116
2022 $18,316,765,021,690 $183,502,046,694
2021 $18,201,698,719,564 $148,350,671,489
2020 $14,996,414,166,715 $111,045,470,606
2019 $14,560,167,101,283 $140,856,394,861
2018 $14,147,765,772,964 $138,646,316,351
2017 $12,537,559,062,283 $120,687,539,806
2016 $11,456,024,084,962 $109,406,674,125
2015 $11,280,814,787,469 $114,585,555,689
2014 $10,674,533,168,257 $162,650,450,685
2013 $9,743,124,247,267 $174,168,116,535
2012 $8,673,664,713,189 $174,047,662,680
2011 $7,671,757,207,851 $154,039,231,246
2010 $6,192,564,874,453 $115,416,245,242
2009 $5,189,577,094,998 $105,968,691,905
2008 $4,667,346,414,522 $147,379,737,230
2007 $3,604,055,822,572 $114,634,043,362
2006 $2,791,498,472,804 $101,557,330,723
2005 $2,317,551,298,052 $80,798,630,137
2004 $1,984,196,551,300 $59,439,090,601
2003 $1,683,903,309,844 $47,874,582,232
2002 $1,489,821,682,051 $38,135,788,414
2001 $1,355,036,590,252 $34,889,559,870
2000 $1,223,754,919,971 $37,718,743,480
1999 $1,103,843,203,576 $30,122,365,849
1998 $1,037,134,141,760 $25,943,705,784
1997 $967,753,570,435 $30,350,190,704
1996 $868,523,936,530 $31,492,373,309
1995 $738,190,896,228 $27,186,980,647
1994 $566,929,539,493 $24,848,483,838
1993 $446,557,291,212 $23,941,391,391
1992 $428,502,354,788 $19,858,555,215
1991 $384,510,452,962 $11,009,993,703
1990 $361,560,229,446 $18,427,777,778
1989 $348,380,566,802 $24,313,855,653
1988 $312,888,888,889 $20,690,322,153
1987 $273,455,156,951 $22,368,704,134
1986 $301,310,144,928 $17,903,989,745
1985 $310,064,625,850 $21,445,970,614
1984 $260,442,857,143 $21,700,082,753
1983 $231,130,268,199 $20,871,081,080
1982 $205,480,916,031 $21,577,153,356
1981 $196,218,253,968 $25,058,020,338
1980 $191,487,500,000 $28,638,868,356
1979 $178,573,913,043 $24,749,063,922
1978 $149,788,617,886 $15,503,557,496
1977 $175,226,595,860 $14,137,406,741
1976 $154,196,810,059 $13,132,252,802
1975 $163,687,619,736 $12,022,811,621
1974 $144,418,433,058 $13,006,948,296
1973 $138,764,340,892 $5,408,804,607
1972 $113,871,930,714 $4,450,537,925
1971 $99,959,013,880 $3,880,392,195
1970 $92,752,930,873 $2,873,638,851
1969 $79,847,786,729 $2,769,198,892
1968 $70,980,323,819 $2,662,798,935
1967 $73,011,350,596 $2,441,599,023
1966 $76,854,053,259 $2,391,199,044
1965 $70,565,994,356 $2,097,199,161
1964 $59,821,862,703 $2,071,668,533
1963 $50,812,227,919 $1,900,895,857
1962 $47,310,737,754 $1,828,107,503
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/kuwait | CC BY

GDP per capita in China vs Kuwait by year

China
GDP per capita

GDP per capita, PPP
Kuwait
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Kuwait
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $32,718 $52,444
2023 $12,951 $25,179 $34,076 $53,025
2022 $12,971 $23,032 $39,982 $55,043
2021 $12,887 $20,843 $34,019 $50,652
2020 $10,627 $18,267 $25,236 $41,462
2019 $10,343 $17,601 $31,708 $50,703
2018 $10,086 $16,298 $32,068 $51,371
2017 $8,980 $15,022 $29,048 $46,566
2016 $8,255 $14,157 $27,324 $41,862
2015 $8,175 $13,463 $29,882 $45,267
2014 $7,781 $12,942 $44,369 $68,337
2013 $7,147 $12,228 $49,651 $76,813
2012 $6,405 $11,420 $52,155 $82,090
2011 $5,704 $10,457 $49,170 $79,037
2010 $4,629 $9,411 $39,212 $75,184
2009 $3,898 $8,448 $37,907 $80,110
2008 $3,523 $7,713 $55,585 $90,337
2007 $2,735 $6,935 $45,709 $91,435
2006 $2,129 $5,946 $42,947 $89,075
2005 $1,778 $5,148 $36,123 $84,968
2004 $1,531 $4,505 $27,552 $77,227
2003 $1,307 $4,007 $22,691 $69,752
2002 $1,164 $3,591 $18,513 $59,713
2001 $1,065 $3,258 $17,374 $58,553
2000 $969 $2,964 $19,296 $58,703
1999 $881 $2,690 $15,854 $56,406
1998 $835 $2,483 $14,067 $58,344
1997 $787 $2,297 $16,977 $57,420
1996 $713 $2,088 $18,201 $56,913
1995 $613 $1,884 $16,168 $57,163
1994 $476 $1,680 $14,930 $53,946
1993 $379 $1,471 $14,318 $48,482
1992 $368 $1,276 $12,146 $36,149
1991 $334 $1,105 $8,147 $23,390
1990 $319 $991 $10,938 $30,763
1989 $311 - $10,965 -
1988 $284 - $9,692 -
1987 $252.3 - $10,896 -
1986 $282.4 - $9,077 -
1985 $295 - $11,322 -
1984 $251.2 - $11,919 -
1983 $225.9 - $11,965 -
1982 $203.7 - $12,979 -
1981 $197.4 - $15,825 -
1980 $195.1 - $19,032 -
1979 $184.3 - $17,386 -
1978 $156.7 - $11,567 -
1977 $185.7 - $11,238 -
1976 $165.7 - $11,141 -
1975 $178.6 - $10,882 -
1974 $160.4 - $12,527 -
1973 $157.3 - $5,532 -
1972 $132.1 - $4,836 -
1971 $118.8 - $4,486 -
1970 $113.3 - $3,552 -
1969 $100.3 - $3,695 -
1968 $91.6 - $3,872 -
1967 $96.8 - $3,887 -
1966 $104.5 - $4,176 -
1965 $98.7 - $4,024 -
1964 $85.7 - $4,379 -
1963 $74.5 - $4,445 -
1962 $71.1 - $4,748 -
1961 $76 - - -
1960 $89.7 - - -

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

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

China's GDP per capita is $13,303, ranking 76/197, compared to $32,718 in Kuwait, ranking 37/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Kuwait ranks 40th at $52,444.

Economic indicators

China Kuwait
Gross domestic product
$18.7T
2024
$160B
2024
GDP rank
2/197
2024
59/197
2024
GDP growth
4.98%
2023-2024
-2.56%
2023-2024
GDP per capita
$13,303
2024
$32,718
2024
GDP per capita rank
76/197
2024
37/197
2024
GDP per capita, PPP
$27,105
2024
$52,444
2024
GDP per capita PPP rank
77/197
2024
40/197
2024
Government debt
$16.6T
2024
$4.68B
2024
Debt-to-GDP ratio
88.3%
2024
2.92%
2024
Government debt per person
$11,749
2024
$956
2024
Government debt per person rank
47/185
2024
143/185
2024
Average annual personal income after taxes
$9,826
2026
$23,828
2026
Market capitalization of domestic companies
$11.8T
2024
$141B
2024
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
50.4%
2024
Consumer prices inflation
0.2%
2023-2024
2.9%
2023-2024
Central bank interest rate
3.1%
2024
3.5%
2025
Unemployment rate
5.11%
2021
2.16%
2016
Population
1402578808
5100145

Spending and national debt comparison by year

China
Spending

Debt
Kuwait
Spending

Debt
1x
Year % of GDP
China Kuwait
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 50.4% 2.92%
2023 32.7% 82% 48.3% 3.13%
2022 32.6% 75.5% 39.6% 2.95%
2021 31.9% 70.1% 48.3% 7.2%
2020 34.8% 69% 62.9% 10.2%
2019 33.6% 59.4% 50.3% 10.5%
2018 32.6% 55.6% 51.1% 14.3%
2017 32% 53.9% 51.9% 19.6%
2016 31.7% 49.7% 54.1% 9.88%
2015 31% 40.8% 55.4% 4.6%
2014 28.4% 39.3% 45% 3.43%
2013 28.1% 36.4% 38.4% 3.09%
2012 27.7% 33.8% 38.2% 3.6%
2011 26.6% 33.2% 39.7% 4.64%
2010 24.7% 33.3% 45.5% 6.16%
2009 25.2% 34% 42.9% 6.65%
2008 22.2% 26.7% 40.9% 5.38%
2007 17.9% 28.7% 30.4% 7.05%
2006 18.1% 25.2% 32.3% 7.79%
2005 18% 25.9% 28.8% 10.2%
2004 17.6% 26% 35.3% 13.9%
2003 18% 26.4% 38.2% 17.2%
2002 18.2% 25.6% 42.8% 21.3%
2001 17.2% 24.3% 41.4% 23%
2000 16.1% 22.7% 29.9% 21.4%
1999 14.9% 21.6% 44.5% 25.5%
1998 12.6% 20.4% 51.7% 25.6%
1997 11.5% 20.4% 43.8% 24.3%
1996 11% 21.2% 42.8% 26.5%
1995 11.1% 21.4% 52% 34.9%
1994 12.4% - 57.8% 37.7%
1993 13.4% - 58.2% 28.8%
1992 14.6% - 77.6% 27.9%
1991 16.5% - 208.9% 45.3%
1990 18.2% - 122.9% -
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/kuwait | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Kuwait spent $80.8B, or 50.4% of GDP.

Debt-to-GDP ratio is 88.3% in China and 2.92% in Kuwait, ranking 34/185 and 184/185, respectively.

Government deficit by year

Deficit/surplus
China

Kuwait
1x
Year Deficit/surplus, % of GDP
China Kuwait
2024 -7.34% 23.8%
2023 -6.71% 28.2%
2022 -7.32% 30%
2021 -5.9% 9.98%
2020 -9.56% 0.14%
2019 -6% 13%
2018 -4.2% 17.5%
2017 -3.34% 15.3%
2016 -3.33% 13.1%
2015 -2.5% 16.6%
2014 -0.67% 30%
2013 -0.82% 40.6%
2012 -0.3% 40.7%
2011 -0.1% 38.8%
2010 -0.36% 31.9%
2009 -1.72% 31.3%
2008 -0.02% 21.3%
2007 0.06% 37.1%
2006 -1.13% 28%
2005 -1.38% 38.9%
2004 -1.49% 32.5%
2003 -2.36% 27.2%
2002 -2.84% 31%
2001 -2.56% 45.2%
2000 -2.81% 52.5%
1999 -2.3% 28.2%
1998 -1.08% 19.5%
1997 -0.73% 29.5%
1996 -0.73% 24.3%
1995 -0.94% 11.7%
1994 -1.68% 1.76%
1993 -0.89% -3.12%
1992 -1.22% -28.1%
1991 -1.04% -145%
1990 -0.72% -50%
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/kuwait | CC BY

In 2024, China's government deficit, the difference between spending and revenue, was $1.38T, equivalent to 7.34% of GDP. This compares to Kuwait's surplus of $38.1B, or 23.8% of GDP.

Over the past 35 years, China recorded a fiscal deficit in 34 of those years, while Kuwait ran a deficit in 4 years. On average, China posted an annual deficit equal to 2.46% of GDP, compared to surplus of 16.7% of GDP for Kuwait.

Inflation comparison by year

Inflation
China

Kuwait
1x
Year Consumer prices inflation
China Kuwait
2024 0.2% 2.9%
2023 0.2% 3.64%
2022 2% 3.98%
2021 0.9% 3.42%
2020 2.5% 2.1%
2019 2.9% 1.09%
2018 2.1% 0.54%
2017 1.6% 2.17%
2016 2% 3.2%
2015 1.5% 3.27%
2014 2% 2.91%
2013 2.7% 2.68%
2012 2.6% 3.26%
2011 5.4% 4.84%
2010 3.3% 4.5%
2009 -0.7% 4.61%
2008 5.9% 10.6%
2007 4.7% 5.48%
2006 1.5% 3.06%
2005 1.8% 4.14%
2004 3.9% 1.25%
2003 1.1% 0.96%
2002 -0.8% 0.89%
2001 0.7% 1.3%
2000 0.4% 1.81%
1999 -1.4% 2.99%
1998 -0.8% 0.13%
1997 2.8% 0.68%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, China has recorded an average annual inflation rate of 1.82%, compared with 2.94% in Kuwait. In 2024, inflation was 0.2% in China and 2.9% in Kuwait.

Top exports between countries

China
Export category Export value
Machinery & equipment $1.97B
Textiles & consumer goods $1.02B
Metals $819M
Chemicals & pharma $322M
Miscellaneous $266M
Raw materials & minerals $139M
Wood & paper products $132M
Processed food, beverages & tobacco $101M
Raw agricultural goods $25.4M
Precious metals & jewellery $5.54M
Kuwait
Export category Export value
Chemicals & pharma $592M
Machinery & equipment $93.4M
Metals $2.08M
Raw materials & minerals $1.81M
Textiles & consumer goods $838K
Wood & paper products $86K
Miscellaneous $75K
Raw agricultural goods $55K
Processed food, beverages & tobacco $51K
Precious metals & jewellery $32K

Balance of trade

China Kuwait
Current account balance
$424B
2024
$46.7B
2024
Current account balance ranking
1/190
2024
15/190
2024
Current account balance, % of GDP
+2.26%
2024
+29.1%
2024
Goods imports
$2.64T
2024
$33.4B
2024
Goods exports
$3.41T
2024
$77.5B
2024
Service imports
$613B
2024
$28.1B
2024
Service exports
$384B
2024
$12.2B
2024
Imports of goods and services, % of GDP
17.2%
2024
38.3%
2023
Exports of goods and services, % of GDP
20%
2024
57.7%
2023

Economic freedom indices

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

China Kuwait
Economic freedom 48.3 59.9
Economic freedom ranking 170/197 100/197
Property rights 40.9 42
Government integrity 42.3 47.9
Judicial effectiveness 38.6 43.4
Tax burden 69.3 97.7
Government spending 67.8 36.2
Fiscal health 4.4 99.9
Business freedom 68.7 57.4
Labor freedom 57.9 49.2
Monetary freedom 76.1 68.7
Trade freedom 73.4 75.8
Investment freedom 20 50
Financial freedom 20 50

Economic freedom comparison by year

China
Kuwait
1x
Year Economic freedom index
China Kuwait
2026 48.3 59.9
2025 49 59.9
2024 48.5 58.5
2023 48.3 56.7
2022 48 58.3
2021 58.4 64.1
2020 59.5 63.2
2019 58.4 60.8
2018 57.8 62.2
2017 57.4 65.1
2016 52 62.7
2015 52.7 62.5
2014 52.5 62.3
2013 51.9 63.1
2012 51.2 62.5
2011 52 64.9
2010 51 67.7
2009 53.2 65.6
2008 53.1 68.1
2007 52 66.4
2006 53.6 66.5
2005 53.7 64.6
2004 52.5 63.6
2003 52.6 66.7
2002 52.8 65.4
2001 52.6 68.2
2000 56.4 69.7
1999 54.8 69.5
1998 53.1 66.3
1997 51.7 64.8
1996 51.3 66.1
1995 52 -

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 59.9 for Kuwait, ranking 100/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Kuwait
Services, % of GDP
56.7%
2024
55.9%
2024
Industry, % of GDP
36.5%
2024
57.1%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
0.49%
2024
GNI, Atlas method
$19.3T
2024
$200B
2024
GNI per capita, PPP
$26,920
2024
$63,270
2024
Total reserves including gold
$3.46T
2024
$50.7B
2024
Total reserves ranking
1/177
2024
41/177
2024
Net foreign direct investment
$154B
2024
$9.71B
2024
Net inflows of foreign direct investment
$18.6B
2024
$615M
2024
Net outflows of foreign direct investment
$172B
2024
$10.3B
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
n/a
Poverty at national poverty lines
0%
2020
n/a
Gross capital formation, % of GDP
40.6%
2024
17.7%
2023

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/kuwait | 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.