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Economy of China vs Liberia compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $4.78B for Liberia, ranking 2/197 and 163/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $2.73B (57.2% of GDP) in Liberia.

China vs Liberia GDP by year

China
Liberia
1x
Year GDP, current $
China Liberia
2024 $18,743,803,170,827 $4,779,300,900
2023 $18,270,356,654,533 $4,390,000,000
2022 $18,316,765,021,690 $4,001,047,000
2021 $18,201,698,719,564 $3,513,049,500
2020 $14,996,414,166,715 $3,176,126,300
2019 $14,560,167,101,283 $3,319,596,500
2018 $14,147,765,772,964 $3,422,754,800
2017 $12,537,559,062,283 $3,390,703,400
2016 $11,456,024,084,962 $3,398,419,600
2015 $11,280,814,787,469 $3,227,075,700
2014 $10,674,533,168,257 $3,225,652,000
2013 $9,743,124,247,267 $3,177,198,100
2012 $8,673,664,713,189 $2,791,614,000
2011 $7,671,757,207,851 $2,398,000,000
2010 $6,192,564,874,453 $1,998,000,000
2009 $5,189,577,094,998 $1,768,000,000
2008 $4,667,346,414,522 $1,726,000,000
2007 $3,604,055,822,572 $1,373,000,000
2006 $2,791,498,472,804 $1,119,000,000
2005 $2,317,551,298,052 $949,000,000
2004 $1,984,196,551,300 $897,000,000
2003 $1,683,903,309,844 $748,000,000
2002 $1,489,821,682,051 $927,000,000
2001 $1,355,036,590,252 $906,000,000
2000 $1,223,754,919,971 $874,000,000
1999 $1,103,843,203,576 $441,800,000
1998 $1,037,134,141,760 $359,600,000
1997 $967,753,570,435 $295,900,000
1996 $868,523,936,530 $159,400,000
1995 $738,190,896,228 $134,800,000
1994 $566,929,539,493 $132,200,000
1993 $446,557,291,212 $160,400,000
1992 $428,502,354,788 $223,500,000
1991 $384,510,452,962 $348,000,000
1990 $361,560,229,446 $384,400,000
1989 $348,380,566,802 $786,300,000
1988 $312,888,888,889 $1,038,300,000
1987 $273,455,156,951 $972,800,000
1986 $301,310,144,928 $840,964,400
1985 $310,064,625,850 $851,296,100
1984 $260,442,857,143 $848,478,300
1983 $231,130,268,199 $823,374,900
1982 $205,480,916,031 $863,933,200
1981 $196,218,253,968 $846,514,500
1980 $191,487,500,000 $854,711,500
1979 $178,573,913,043 $814,067,900
1978 $149,788,617,886 $717,240,400
1977 $175,226,595,860 $673,010,600
1976 $154,196,810,059 $596,675,700
1975 $163,687,619,736 $577,549,300
1974 $144,418,433,058 $486,955,000
1973 $138,764,340,892 $386,968,300
1972 $113,871,930,714 $368,098,000
1971 $99,959,013,880 $341,543,100
1970 $92,752,930,873 $323,099,700
1969 $79,847,786,729 $306,961,800
1968 $70,980,323,819 $276,820,700
1967 $73,011,350,596 $261,024,300
1966 $76,854,053,259 $244,459,500
1965 $70,565,994,356 $229,260,800
1964 $59,821,862,703 $218,929,100
1963 $50,812,227,919 $200,229,600
1962 $47,310,737,754 $191,861,800
1961 $50,162,299,350 $183,920,900
1960 $59,846,235,025 $190,495,600

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

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

GDP per capita in China vs Liberia by year

China
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $851 $1,871
2023 $12,951 $25,179 $799 $1,795
2022 $12,971 $23,032 $745 $1,692
2021 $12,887 $20,843 $668 $1,539
2020 $10,627 $18,267 $617 $1,660
2019 $10,343 $17,601 $658 $1,900
2018 $10,086 $16,298 $692 $1,800
2017 $8,980 $15,022 $699 $1,665
2016 $8,255 $14,157 $715 $1,490
2015 $8,175 $13,463 $693 $1,340
2014 $7,781 $12,942 $707 $1,419
2013 $7,147 $12,228 $711 $1,360
2012 $6,405 $11,420 $638 $1,157
2011 $5,704 $10,457 $568 $1,041
2010 $4,629 $9,411 $492 $980
2009 $3,898 $8,448 $448 $939
2008 $3,523 $7,713 $452 $915
2007 $2,735 $6,935 $374 $873
2006 $2,129 $5,946 $321 $815
2005 $1,778 $5,148 $287.5 $774
2004 $1,531 $4,505 $284.1 $745
2003 $1,307 $4,007 $239.8 $716
2002 $1,164 $3,591 $299.5 $1,013
2001 $1,065 $3,258 $300 $987
2000 $969 $2,964 $298.5 $965
1999 $881 $2,690 $156.6 $762
1998 $835 $2,483 $134.7 $652
1997 $787 $2,297 $122.6 $548
1996 $713 $2,088 $71.4 $282.2
1995 $613 $1,884 $62.1 $254.4
1994 $476 $1,680 $61.5 $262.6
1993 $379 $1,471 $74.4 $328
1992 $368 $1,276 $107.8 $497
1991 $334 $1,105 $177.9 $793
1990 $319 $991 $172.9 $787
1989 $311 - $312 -
1988 $284 - $424 -
1987 $252.3 - $409 -
1986 $282.4 - $364 -
1985 $295 - $380 -
1984 $251.2 - $390 -
1983 $225.9 - $391 -
1982 $203.7 - $422 -
1981 $197.4 - $426 -
1980 $195.1 - $443 -
1979 $184.3 - $435 -
1978 $156.7 - $394 -
1977 $185.7 - $381 -
1976 $165.7 - $347 -
1975 $178.6 - $346 -
1974 $160.4 - $299.4 -
1973 $157.3 - $244.4 -
1972 $132.1 - $238.6 -
1971 $118.8 - $227.1 -
1970 $113.3 - $220.3 -
1969 $100.3 - $214.7 -
1968 $91.6 - $198.6 -
1967 $96.8 - $192.2 -
1966 $104.5 - $184.6 -
1965 $98.7 - $177.6 -
1964 $85.7 - $173.9 -
1963 $74.5 - $163.1 -
1962 $71.1 - $160.3 -
1961 $76 - $157.5 -
1960 $89.7 - $167.2 -

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

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

China's GDP per capita is $13,303, ranking 76/197, compared to $851 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Liberia ranks 188th at $1,871.

Economic indicators

China Liberia
Gross domestic product
$18.7T
2024
$4.78B
2024
GDP rank
2/197
2024
163/197
2024
GDP growth
4.98%
2023-2024
4.02%
2023-2024
GDP per capita
$13,303
2024
$851
2024
GDP per capita rank
76/197
2024
184/197
2024
GDP per capita, PPP
$27,105
2024
$1,871
2024
GDP per capita PPP rank
77/197
2024
188/197
2024
Government debt
$16.6T
2024
$2.73B
2024
Debt-to-GDP ratio
88.3%
2024
57.2%
2024
Government debt per person
$11,749
2024
$487
2024
Government debt per person rank
47/185
2024
167/185
2024
Average annual personal income after taxes
$9,826
2026
$1,191
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
27.1%
2016
Income share by poorest 10%
3.1%
2022
2.9%
2016
Government expenditure, % of GDP
32.9%
2024
24.3%
2024
Consumer prices inflation
0.2%
2023-2024
8.2%
2023-2024
Central bank interest rate
3.1%
2024
n/a
Unemployment rate
5.11%
2021
5.93%
2017
Population
1402578808
5887000

Spending and national debt comparison by year

China
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
China Liberia
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 24.3% 57.2%
2023 32.7% 82% 27.1% 57.8%
2022 32.6% 75.5% 26.9% 54.3%
2021 31.9% 70.1% 29.8% 53.3%
2020 34.8% 69% 35.3% 58.7%
2019 33.6% 59.4% 32.3% 48.6%
2018 32.6% 55.6% 32.7% 37.1%
2017 32% 53.9% 35.1% 31.8%
2016 31.7% 49.7% 35.8% 28.6%
2015 31% 40.8% 37.1% 24.8%
2014 28.4% 39.3% 33.4% 24.3%
2013 28.1% 36.4% 27.4% 20.6%
2012 27.7% 33.8% 30.8% 20.5%
2011 26.6% 33.2% 30.1% 22.7%
2010 24.7% 33.3% 25.2% 25.6%
2009 25.2% 34% 23.7% 130.9%
2008 22.2% 26.7% 21.6% 233.1%
2007 17.9% 28.7% 17.2% 394%
2006 18.1% 25.2% 11.1% 472%
2005 18% 25.9% 12.8% 535%
2004 17.6% 26% 12.1% 543%
2003 18% 26.4% 9.85% 658%
2002 18.2% 25.6% 13.2% 481%
2001 17.2% 24.3% 12.6% 484%
2000 16.1% 22.7% 15.2% 489%
1999 14.9% 21.6% - -
1998 12.6% 20.4% - -
1997 11.5% 20.4% - -
1996 11% 21.2% - -
1995 11.1% 21.4% - -
1994 12.4% - - -
1993 13.4% - - -
1992 14.6% - - -
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/liberia | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Liberia spent $1.16B, or 24.3% of GDP.

Debt-to-GDP ratio is 88.3% in China and 57.2% in Liberia, ranking 34/185 and 91/185, respectively.

Government deficit by year

Deficit/surplus
China

Liberia
1x
Year Deficit/surplus, % of GDP
China Liberia
2024 -7.34% -1.98%
2023 -6.71% -7.03%
2022 -7.32% -5.33%
2021 -5.9% -2.5%
2020 -9.56% -4.02%
2019 -6% -4.92%
2018 -4.2% -4.7%
2017 -3.34% -7.14%
2016 -3.33% -3.83%
2015 -2.5% -3.74%
2014 -0.67% -4.92%
2013 -0.82% 1.29%
2012 -0.3% -2.86%
2011 -0.1% -4.43%
2010 -0.36% 1.17%
2009 -1.72% -1.39%
2008 -0.02% -2.68%
2007 0.06% 2.44%
2006 -1.13% 4.42%
2005 -1.38% -0.55%
2004 -1.49% -0.56%
2003 -2.36% 0.39%
2002 -2.84% -1.63%
2001 -2.56% -0.98%
2000 -2.81% -0.08%
1999 -2.3% -
1998 -1.08% -
1997 -0.73% -
1996 -0.73% -
1995 -0.94% -
1994 -1.68% -
1993 -0.89% -
1992 -1.22% -
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/liberia | 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 Liberia's deficit of $94.6M, or 1.98% of GDP.

Over the past 25 years, China recorded a fiscal deficit in 24 of those years, while Liberia ran a deficit in 20 years. On average, China posted an annual deficit equal to 2.99% of GDP, compared to deficit of 2.22% of GDP for Liberia.

Inflation comparison by year

Inflation
China

Liberia
1x
Year Consumer prices inflation
China Liberia
2024 0.2% 8.2%
2023 0.2% 10.1%
2022 2% 7.6%
2021 0.9% 7.8%
2020 2.5% 17%
2019 2.9% 27%
2018 2.1% 23.5%
2017 1.6% 12.4%
2016 2% 8.8%
2015 1.5% 7.7%
2014 2% 9.9%
2013 2.7% 7.6%
2012 2.6% 6.8%
2011 5.4% 8.5%
2010 3.3% 7.3%
2009 -0.7% 7.4%
2008 5.9% 17.5%
2007 4.7% 11.4%
2006 1.5% 9.5%
2005 1.8% 6.9%
2004 3.9% 3.6%
2003 1.1% 10.3%
2002 -0.8% 14.2%
2001 0.7% 12.1%
2000 0.4% 5.3%
1999 -1.4% 2%
1998 -0.8% -
1997 2.8% -

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

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

Over the past 26 years, China has recorded an average annual inflation rate of 1.88%, compared with 10.4% in Liberia. In 2024, inflation was 0.2% in China and 8.2% in Liberia.

Top exports between countries

China
Export category Export value
Machinery & equipment $10.2B
Raw materials & minerals $2.23B
Metals $330M
Textiles & consumer goods $153M
Chemicals & pharma $113M
Processed food, beverages & tobacco $24.7M
Raw agricultural goods $8.53M
Miscellaneous $6.22M
Wood & paper products $6.13M
Animal & marine products $2.16M
Liberia
Export category Export value
Raw materials & minerals $2.46M
Animal & marine products $144K
Chemicals & pharma $68K
Precious metals & jewellery $21K
Machinery & equipment $16K
Processed food, beverages & tobacco $10K
Textiles & consumer goods $10K
Wood & paper products $7K
Metals $6K
Raw agricultural goods $2K

Balance of trade

China Liberia
Current account balance
$424B
2024
$64.8M
2022
Current account balance ranking
1/190
2024
73/190
2022
Current account balance, % of GDP
+2.26%
2024
+1.62%
2022
Goods imports
$2.64T
2024
$1.53B
2022
Goods exports
$3.41T
2024
$1.03B
2022
Service imports
$613B
2024
$434M
2022
Service exports
$384B
2024
$192M
2022
Imports of goods and services, % of GDP
17.2%
2024
n/a
Exports of goods and services, % of GDP
20%
2024
28.5%
2025

Economic freedom indices

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

China Liberia
Economic freedom 48.3 49.8
Economic freedom ranking 170/197 163/197
Property rights 40.9 40.4
Government integrity 42.3 25.8
Judicial effectiveness 38.6 23.4
Tax burden 69.3 86.1
Government spending 67.8 79.5
Fiscal health 4.4 56.9
Business freedom 68.7 38
Labor freedom 57.9 43.4
Monetary freedom 76.1 71.4
Trade freedom 73.4 57.4
Investment freedom 20 55
Financial freedom 20 20

Economic freedom comparison by year

China
Liberia
1x
Year Economic freedom index
China Liberia
2026 48.3 49.8
2025 49 48.5
2024 48.5 49.9
2023 48.3 49.6
2022 48 47.9
2021 58.4 49.2
2020 59.5 49
2019 58.4 49.7
2018 57.8 50.9
2017 57.4 49.1
2016 52 52.2
2015 52.7 52.7
2014 52.5 52.4
2013 51.9 49.3
2012 51.2 48.6
2011 52 46.5
2010 51 46.2
2009 53.2 48.1
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/liberia | CC BY

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Liberia
Services, % of GDP
56.7%
2024
41.9%
2024
Industry, % of GDP
36.5%
2024
22.7%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
33.8%
2024
GNI, Atlas method
$19.3T
2024
$4.28B
2024
GNI per capita, PPP
$26,920
2024
$1,750
2024
Total reserves including gold
$3.46T
2024
$600M
2022
Total reserves ranking
1/177
2024
153/177
2022
Net foreign direct investment
$154B
2024
-$960M
2022
Net inflows of foreign direct investment
$18.6B
2024
$472M
2024
Net outflows of foreign direct investment
$172B
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
3.09%
2024
Poverty at national poverty lines
0%
2020
50.9%
2016
Gross capital formation, % of GDP
40.6%
2024
n/a

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/liberia | 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 (2020–2024, 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.