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Economy of China vs Russia compared: GDP & Debt

Updated on by Georank

China has a GDP of $19.5T compared to $2.56T for Russia, ranking 2/197 and 8/197 by economy size, respectively.

China has $19.3T in government debt (99.2% of GDP), compared to $440B (17.2% of GDP) in Russia.

China vs Russia GDP by year

China
Russia
1x
Year GDP, current $
China Russia
2025 $19,498,039,388,043 $2,561,310,169,359
2024 $18,729,668,435,848 $2,186,462,268,813
2023 $18,270,356,654,533 $2,046,284,838,151
2022 $18,316,765,021,690 $2,292,495,097,681
2021 $18,201,698,719,564 $1,829,186,719,575
2020 $14,996,414,166,715 $1,493,075,894,362
2019 $14,560,167,101,283 $1,693,115,002,708
2018 $14,147,765,772,964 $1,657,328,773,461
2017 $12,537,559,062,283 $1,574,199,360,089
2016 $11,456,024,084,962 $1,276,786,350,881
2015 $11,280,814,787,469 $1,363,482,182,198
2014 $10,674,533,168,257 $2,059,241,589,895
2013 $9,743,124,247,267 $2,292,470,078,346
2012 $8,673,664,713,189 $2,208,293,553,878
2011 $7,671,757,207,851 $2,045,922,753,398
2010 $6,192,564,874,453 $1,524,916,715,224
2009 $5,189,577,094,998 $1,222,645,900,056
2008 $4,667,346,414,522 $1,660,848,058,303
2007 $3,604,055,822,572 $1,299,703,478,482
2006 $2,791,498,472,804 $989,932,071,353
2005 $2,317,551,298,052 $764,015,973,481
2004 $1,984,196,551,300 $591,016,690,732
2003 $1,683,903,309,844 $430,347,420,185
2002 $1,489,821,682,051 $345,470,494,418
2001 $1,355,036,590,252 $306,602,070,621
2000 $1,223,754,919,971 $259,710,142,197
1999 $1,103,843,203,576 $195,907,128,351
1998 $1,037,134,141,760 $270,955,486,862
1997 $967,753,570,435 $404,928,954,192
1996 $868,523,936,530 $391,724,890,744
1995 $738,190,896,228 $395,537,185,735
1994 $566,929,539,493 $395,077,301,248
1993 $446,557,291,212 $435,083,713,851
1992 $428,502,354,788 $460,290,556,901
1991 $384,510,452,962 $517,962,962,963
1990 $361,560,229,446 $517,014,446,228
1989 $348,380,566,802 $506,631,299,735
1988 $312,888,888,889 $554,828,660,436
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 (1960–2025, retrieved 2026-07-08).

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

GDP per capita in China vs Russia by year

China
GDP per capita

GDP per capita, PPP
Russia
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Russia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $13,862 - $17,847 -
2024 $13,293 $27,105 $15,219 $47,362
2023 $12,951 $25,179 $14,227 $44,269
2022 $12,971 $23,032 $15,894 $40,939
2021 $12,887 $20,843 $12,637 $38,638
2020 $10,627 $18,267 $10,280 $31,491
2019 $10,343 $17,601 $11,640 $30,964
2018 $10,086 $16,298 $11,399 $28,629
2017 $8,980 $15,022 $10,835 $25,778
2016 $8,255 $14,157 $8,804 $24,012
2015 $8,175 $13,463 $9,427 $23,994
2014 $7,781 $12,942 $14,277 $25,688
2013 $7,147 $12,228 $15,941 $26,020
2012 $6,405 $11,420 $15,402 $24,274
2011 $5,704 $10,457 $14,305 $22,790
2010 $4,629 $9,411 $10,675 $20,490
2009 $3,898 $8,448 $8,563 $19,390
2008 $3,523 $7,713 $11,635 $20,164
2007 $2,735 $6,935 $9,101 $16,648
2006 $2,129 $5,946 $6,920 $14,912
2005 $1,778 $5,148 $5,323 $11,822
2004 $1,531 $4,505 $4,102 $10,227
2003 $1,307 $4,007 $2,975 $9,255
2002 $1,164 $3,591 $2,378 $8,037
2001 $1,065 $3,258 $2,100 $7,361
2000 $969 $2,964 $1,772 $6,825
1999 $881 $2,690 $1,331 $5,914
1998 $835 $2,483 $1,835 $5,465
1997 $787 $2,297 $2,738 $5,700
1996 $713 $2,088 $2,644 $5,518
1995 $613 $1,884 $2,666 $5,613
1994 $476 $1,680 $2,662 $5,734
1993 $379 $1,471 $2,931 $6,420
1992 $368 $1,276 $3,099 $6,862
1991 $334 $1,105 $3,490 $7,858
1990 $319 $991 $3,494 $8,028
1989 $311 - $3,430 -
1988 $284 - $3,778 -
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 (1960–2025, retrieved 2026-07-08).

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

China's GDP per capita is $13,862, ranking 77/197, compared to $17,847 in Russia, ranking 68/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Russia ranks 50th at $47,362.

Economic indicators

China Russia
Gross domestic product
$19.5T
2025
$2.56T
2025
GDP rank
2/197
2025
8/197
2025
GDP growth
4.96%
2024-2025
1%
2024-2025
GDP per capita
$13,862
2025
$17,847
2025
GDP per capita rank
77/197
2025
68/197
2025
GDP per capita, PPP
$27,105
2024
$47,362
2024
GDP per capita PPP rank
77/197
2024
50/197
2024
Government debt
$19.3T
2025
$440B
2025
Debt-to-GDP ratio
99.2%
2025
17.2%
2025
Government debt per person
$13,756
2025
$3,068
2025
Government debt per person rank
47/185
2025
105/185
2025
Average annual personal income after taxes
$10,414
2026
$11,183
2026
Market capitalization of domestic companies
$15.5T
2025
$650B
2023
Number of millionaires
5,305,000
2026
447,000
2026
Number of billionaires
539
2026
147
2026
Income share by richest 10%
28.4%
2022
25.1%
2023
Income share by poorest 10%
3.1%
2022
3.1%
2023
Government expenditure, % of GDP
32.9%
2025
39.1%
2025
Consumer prices inflation
0%
2024-2025
8.7%
2024-2025
Central bank interest rate
3%
2025
14.5%
2026
Unemployment rate
4.57%
2022
2.13%
2025
Population
1403335670
142643173

Spending and national debt comparison by year

China
Spending

Debt
Russia
Spending

Debt
1x
Year % of GDP
China Russia
Government spending Government debt Government spending Government debt
2025 32.9% 99.2% 39.1% 17.2%
2024 32.9% 90.4% 36.7% 14.8%
2023 32.7% 84.1% 36.1% 15.2%
2022 32.6% 77.3% 35.1% 15.1%
2021 31.9% 72.1% 34.9% 16.5%
2020 34.8% 70.1% 39.2% 19.2%
2019 33.6% 59.8% 33.8% 13.7%
2018 32.6% 55.9% 32.6% 13.6%
2017 32% 53.9% 34.8% 14.3%
2016 31.7% 50% 36.6% 14.8%
2015 31% 40.8% 35.3% 15.3%
2014 28.4% 39.3% 34.9% 15.1%
2013 28.1% 36.4% 34.7% 12.3%
2012 27.7% 33.8% 34% 11.2%
2011 26.6% 33.2% 33.3% 10.3%
2010 24.7% 33.3% 35.5% 10.1%
2009 25.2% 34% 38.6% 9.92%
2008 22.2% 26.7% 32% 7.45%
2007 17.9% 28.7% 31.9% 8.03%
2006 18.1% 25.2% 29% 9.8%
2005 18% 25.9% 29.5% 14.9%
2004 17.6% 26% 29.6% 20.8%
2003 18% 26.4% 32.6% 28.3%
2002 18.2% 25.6% 33.8% 37.6%
2001 17.2% 24.3% 31.5% 44.4%
2000 16.1% 22.7% 30.7% 55.9%
1999 14.9% 21.6% 34.3% 92.4%
1998 12.6% 20.4% 39.7% 135.2%
1997 11.5% 20.4% - 51.5%
1996 11% 21.2% - 51.9%
1995 11.1% 21.4% - 53.7%
1994 12.4% - - 63.5%
1993 13.4% - - 92.4%
1992 14.6% - - 116%
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1982–1996, retrieved 2026-07-08).

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

In 2025, China's government spending was $6.41T, accounting for 32.9% of its GDP, while Russia spent $1T, or 39.1% of GDP.

Debt-to-GDP ratio is 99.2% in China and 17.2% in Russia, ranking 26/185 and 175/185, respectively.

Government deficit by year

Deficit/surplus
China

Russia
1x
Year Deficit/surplus, % of GDP
China Russia
2025 -7.87% -3.9%
2024 -7.11% -1.59%
2023 -6.71% -2.24%
2022 -7.32% -1.34%
2021 -5.9% 0.78%
2020 -9.56% -3.99%
2019 -6% 1.93%
2018 -4.2% 2.92%
2017 -3.34% -1.47%
2016 -3.33% -3.67%
2015 -2.5% -3.39%
2014 -0.67% -1.07%
2013 -0.82% -1.16%
2012 -0.3% 0.38%
2011 -0.1% 1.43%
2010 -0.36% -3.19%
2009 -1.72% -5.89%
2008 -0.02% 4.55%
2007 0.06% 5.59%
2006 -1.13% 7.8%
2005 -1.38% 7.6%
2004 -1.49% 4.57%
2003 -2.36% 1.35%
2002 -2.84% 0.67%
2001 -2.56% 2.99%
2000 -2.81% 3.11%
1999 -2.3% -3.59%
1998 -1.08% -7.42%
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% -
1981 - -
1980 - -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 - -
1967 - -
1966 - -
1965 - -
1964 - -
1963 - -
1962 - -
1961 - -
1960 - -
1959 - -
1958 - -
1957 - -
1956 - -
1955 - -
1954 - -
1953 - -
1952 - -
1951 - -
1950 - -
1949 - -
1948 - -
1947 - -
1946 - -
1945 - -
1944 - -
1943 - -
1942 - -
1941 - -
1940 - 0.15%
1939 - 0.12%
1938 - 0.16%
1937 - 0.12%
1936 - 0.1%
1935 - 0.07%
1934 - 0.25%
1933 - 0.58%
1932 - 0.06%
1931 - -1.12%
1930 - -1.62%
1929 - -0.4%
1928 - -0.4%
1927 - -
1926 - -
1925 - -
1924 - -
1923 - -
1922 - -
1921 - -
1920 - -
1919 - -
1918 - -
1917 - -
1916 - -
1915 - -
1914 - -
1913 - -
1912 - 0.69%
1911 - 1.26%
1910 - 1.52%
1909 - -0.15%
1908 - -0.83%
1907 - -0.86%
1906 - -3.19%
1905 - -7.72%
1904 - -5.13%
1903 - 1.04%
1902 - -1.57%
1901 - 0.14%
1900 - -0.36%
1899 - 0.66%
1898 - 0.03%
1897 - 0.34%
1896 - 1.3%
1895 - 0.7%
1894 - 1.43%
1893 - 0.63%
1892 - -1.16%
1891 - -0.97%
1890 - 0.01%
1889 - 1.34%
1888 - 0.88%
1887 - 0.14%
1886 - -0.84%
1885 - -0.75%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1885–1989, retrieved 2026-07-08).

GeoRank.org/economy/china/russia | 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 Russia's deficit of $100B, or 3.9% of GDP.

Over the past 28 years, China recorded a fiscal deficit in 27 of those years, while Russia ran a deficit in 14 years. On average, China posted an annual deficit equal to 3.06% of GDP, compared to surplus of 0.06% of GDP for Russia.

Inflation comparison by year

Inflation
China

Russia
1x
Year Consumer prices inflation
China Russia
2025 0% 8.7%
2024 0.2% 8.4%
2023 0.2% 5.9%
2022 2% 13.7%
2021 0.9% 6.7%
2020 2.5% 3.4%
2019 2.9% 4.5%
2018 2.1% 2.9%
2017 1.6% 3.7%
2016 2% 7%
2015 1.4% 15.5%
2014 2% 7.8%
2013 2.6% 6.8%
2012 2.6% 5.1%
2011 5.4% 8.4%
2010 3.3% 6.8%
2009 -0.7% 11.6%
2008 5.8% 14.1%
2007 4.8% 9%
2006 1.5% 9.7%
2005 1.8% 12.7%
2004 3.9% 10.9%
2003 1.2% 13.7%
2002 -0.8% 15.8%
2001 0.7% 21.5%
2000 0.4% 20.8%
1999 -1.4% 85.7%
1998 -0.8% 27.7%
1997 2.8% 14.8%

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

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

Over the past 29 years, China has recorded an average annual inflation rate of 1.76%, compared with 13.2% in Russia. In 2025, inflation was 0% in China and 8.7% in Russia.

Top exports between countries

China
Export category Export value
Machinery & equipment $58.6B
Textiles & consumer goods $15.7B
Chemicals & pharma $9.51B
Metals $5.82B
Miscellaneous $4.93B
Raw materials & minerals $4.05B
Raw agricultural goods $1.39B
Processed food, beverages & tobacco $1.37B
Wood & paper products $1.09B
Transport & tourism services $836M
Russia
Export category Export value
Raw materials & minerals $50.6B
Wood & paper products $5.11B
Metals $3.86B
Miscellaneous $2.37B
Machinery & equipment $2.31B
Animal & marine products $1.49B
Transport & tourism services $1.47B
Processed food, beverages & tobacco $1.22B
Chemicals & pharma $955M
Manufacturing & construction services $768M

Balance of trade

China Russia
Current account balance
$735B
2025
$43.1B
2025
Current account balance ranking
1/190
2025
14/190
2025
Current account balance, % of GDP
+3.77%
2025
+1.68%
2025
Goods imports
$2.69T
2025
$305B
2025
Goods exports
$3.75T
2025
$422B
2025
Service imports
$623B
2025
$94.8B
2025
Service exports
$385B
2025
$46.3B
2025
Imports of goods and services, % of GDP
16.9%
2025
15.5%
2025
Exports of goods and services, % of GDP
21.1%
2025
18.2%
2025

Economic freedom indices

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

China Russia
Economic freedom 48.3 50.3
Economic freedom ranking 170/197 161/197
Property rights 40.9 18.6
Government integrity 42.3 22.8
Judicial effectiveness 38.6 22.8
Tax burden 69.3 81.9
Government spending 67.8 61.3
Fiscal health 4.4 94.4
Business freedom 68.7 51.4
Labor freedom 57.9 59.1
Monetary freedom 76.1 61.8
Trade freedom 73.4 69.4
Investment freedom 20 30
Financial freedom 20 30

Economic freedom comparison by year

China
Russia
1x
Year Economic freedom index
China Russia
2026 48.3 50.3
2025 49 51.6
2024 48.5 52
2023 48.3 53.8
2022 48 56.1
2021 58.4 61.5
2020 59.5 61
2019 58.4 58.9
2018 57.8 58.2
2017 57.4 57.1
2016 52 50.6
2015 52.7 52.1
2014 52.5 51.9
2013 51.9 51.1
2012 51.2 50.5
2011 52 50.5
2010 51 50.3
2009 53.2 50.8
2008 53.1 49.8
2007 52 52.2
2006 53.6 52.4
2005 53.7 51.3
2004 52.5 52.8
2003 52.6 50.8
2002 52.8 48.7
2001 52.6 49.8
2000 56.4 51.8
1999 54.8 54.5
1998 53.1 52.8
1997 51.7 48.6
1996 51.3 51.6
1995 52 51.1

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 50.3 for Russia, ranking 161/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Russia
Services, % of GDP
57.7%
2025
58.9%
2025
Industry, % of GDP
35.6%
2025
29.7%
2025
Agriculture, forestry, and fishing, % of GDP
6.66%
2025
3.06%
2025
GNI, Atlas method
$20T
2025
$2.33T
2025
GNI per capita, PPP
$29,160
2025
$49,220
2025
Total reserves including gold
$3.75T
2025
$608B
2024
Total reserves ranking
1/177
2025
6/177
2024
Net foreign direct investment
$77.2B
2025
-$12.4B
2025
Net inflows of foreign direct investment
$42.6B
2024
-$9.35B
2024
Net outflows of foreign direct investment
$192B
2024
-$170M
2024
Servicing debt to the IMF, % of GNI
1.9%
2024
2.63%
2024
Poverty at national poverty lines
0%
2020
7.2%
2024
Gross capital formation, % of GDP
40.5%
2024
25.9%
2025

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/russia | 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 (1885–1996, 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 (2016–2025, 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.