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Economy of China vs Sri Lanka compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $99B for Sri Lanka, ranking 2/197 and 72/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $99.8B (100.8% of GDP) in Sri Lanka.

China vs Sri Lanka GDP by year

China
Sri Lanka
1x
Year GDP, current $
China Sri Lanka
2024 $18,743,803,170,827 $98,963,185,510
2023 $18,270,356,654,533 $83,716,142,582
2022 $18,316,765,021,690 $74,143,020,263
2021 $18,201,698,719,564 $88,556,698,938
2020 $14,996,414,166,715 $84,335,574,582
2019 $14,560,167,101,283 $88,998,706,297
2018 $14,147,765,772,964 $94,450,015,983
2017 $12,537,559,062,283 $94,369,350,286
2016 $11,456,024,084,962 $88,000,211,172
2015 $11,280,814,787,469 $85,090,301,052
2014 $10,674,533,168,257 $82,531,125,191
2013 $9,743,124,247,267 $76,976,203,829
2012 $8,673,664,713,189 $70,447,217,164
2011 $7,671,757,207,851 $67,753,285,897
2010 $6,192,564,874,453 $58,636,049,434
2009 $5,189,577,094,998 $42,066,224,093
2008 $4,667,346,414,522 $40,713,826,215
2007 $3,604,055,822,572 $32,350,238,760
2006 $2,791,498,472,804 $28,267,410,543
2005 $2,317,551,298,052 $24,405,791,045
2004 $1,984,196,551,300 $20,662,525,941
2003 $1,683,903,309,844 $18,881,765,437
2002 $1,489,821,682,051 $16,536,535,647
2001 $1,355,036,590,252 $15,749,753,805
2000 $1,223,754,919,971 $16,595,882,819
1999 $1,103,843,203,576 $15,711,933,513
1998 $1,037,134,141,760 $15,760,736,956
1997 $967,753,570,435 $15,091,913,884
1996 $868,523,936,530 $13,897,738,375
1995 $738,190,896,228 $13,029,697,561
1994 $566,929,539,493 $11,717,604,209
1993 $446,557,291,212 $10,338,679,636
1992 $428,502,354,788 $9,703,011,636
1991 $384,510,452,962 $9,000,362,582
1990 $361,560,229,446 $8,032,551,173
1989 $348,380,566,802 $6,987,267,684
1988 $312,888,888,889 $6,978,371,581
1987 $273,455,156,951 $6,682,167,120
1986 $301,310,144,928 $6,405,210,564
1985 $310,064,625,850 $5,978,460,972
1984 $260,442,857,143 $6,043,474,843
1983 $231,130,268,199 $5,167,913,302
1982 $205,480,916,031 $4,768,765,017
1981 $196,218,253,968 $4,415,844,156
1980 $191,487,500,000 $4,024,621,900
1979 $178,573,913,043 $3,364,611,432
1978 $149,788,617,886 $2,733,183,857
1977 $175,226,595,860 $4,104,509,583
1976 $154,196,810,059 $3,591,319,857
1975 $163,687,619,736 $3,791,298,146
1974 $144,418,433,058 $3,574,586,466
1973 $138,764,340,892 $2,875,625,000
1972 $113,871,930,714 $2,553,936,348
1971 $99,959,013,880 $2,369,308,600
1970 $92,752,930,873 $2,296,470,588
1969 $79,847,786,729 $1,965,546,218
1968 $70,980,323,819 $1,801,344,538
1967 $73,011,350,596 $1,859,465,021
1966 $76,854,053,259 $1,751,470,588
1965 $70,565,994,356 $1,698,319,328
1964 $59,821,862,703 $1,309,747,899
1963 $50,812,227,919 $1,240,672,269
1962 $47,310,737,754 $1,434,156,379
1961 $50,162,299,350 $1,444,327,731
1960 $59,846,235,025 $1,409,873,950

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

GeoRank.org/economy/china/sri-lanka | CC BY

GDP per capita in China vs Sri Lanka by year

China
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $4,516 $15,633
2023 $12,951 $25,179 $3,799 $14,456
2022 $12,971 $23,032 $3,343 $14,194
2021 $12,887 $20,843 $3,997 $14,316
2020 $10,627 $18,267 $3,848 $12,941
2019 $10,343 $17,601 $4,082 $14,113
2018 $10,086 $16,298 $4,359 $14,178
2017 $8,980 $15,022 $4,399 $13,610
2016 $8,255 $14,157 $4,149 $13,079
2015 $8,175 $13,463 $4,058 $12,227
2014 $7,781 $12,942 $3,972 $11,721
2013 $7,147 $12,228 $3,739 $11,253
2012 $6,405 $11,420 $3,328 $10,249
2011 $5,704 $10,457 $3,225 $9,076
2010 $4,629 $9,411 $2,808 $8,234
2009 $3,898 $8,448 $2,027 $7,576
2008 $3,523 $7,713 $1,974 $7,317
2007 $2,735 $6,935 $1,579 $6,820
2006 $2,129 $5,946 $1,389 $6,261
2005 $1,778 $5,148 $1,207 $5,679
2004 $1,531 $4,505 $1,029 $5,216
2003 $1,307 $4,007 $946 $4,850
2002 $1,164 $3,591 $835 $4,522
2001 $1,065 $3,258 $804 $4,328
2000 $969 $2,964 $860 $4,368
1999 $881 $2,690 $829 $4,103
1998 $835 $2,483 $848 $3,952
1997 $787 $2,297 $827 $3,804
1996 $713 $2,088 $776 $3,582
1995 $613 $1,884 $742 $3,454
1994 $476 $1,680 $678 $3,260
1993 $379 $1,471 $607 $3,067
1992 $368 $1,276 $580 $2,851
1991 $334 $1,105 $546 $2,713
1990 $319 $991 $491 $2,527
1989 $311 - $430 -
1988 $284 - $434 -
1987 $252.3 - $420 -
1986 $282.4 - $407 -
1985 $295 - $385 -
1984 $251.2 - $391 -
1983 $225.9 - $336 -
1982 $203.7 - $312 -
1981 $197.4 - $292.5 -
1980 $195.1 - $271.1 -
1979 $184.3 - $230.8 -
1978 $156.7 - $191 -
1977 $185.7 - $292.1 -
1976 $165.7 - $260.3 -
1975 $178.6 - $279.8 -
1974 $160.4 - $268.7 -
1973 $157.3 - $220.2 -
1972 $132.1 - $199.4 -
1971 $118.8 - $188.8 -
1970 $113.3 - $186.9 -
1969 $100.3 - $163.6 -
1968 $91.6 - $153.5 -
1967 $96.8 - $162.3 -
1966 $104.5 - $156.6 -
1965 $98.7 - $155.6 -
1964 $85.7 - $122.9 -
1963 $74.5 - $119.4 -
1962 $71.1 - $141.4 -
1961 $76 - $145.9 -
1960 $89.7 - $145.9 -

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

GeoRank.org/economy/china/sri-lanka | CC BY

China's GDP per capita is $13,303, ranking 76/197, compared to $4,516 in Sri Lanka, ranking 124/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Sri Lanka ranks 111th at $15,633.

Economic indicators

China Sri Lanka
Gross domestic product
$18.7T
2024
$99B
2024
GDP rank
2/197
2024
72/197
2024
GDP growth
4.98%
2023-2024
5.01%
2023-2024
GDP per capita
$13,303
2024
$4,516
2024
GDP per capita rank
76/197
2024
124/197
2024
GDP per capita, PPP
$27,105
2024
$15,633
2024
GDP per capita PPP rank
77/197
2024
111/197
2024
Government debt
$16.6T
2024
$99.8B
2024
Debt-to-GDP ratio
88.3%
2024
100.8%
2024
Government debt per person
$11,749
2024
$4,554
2024
Government debt per person rank
47/185
2024
85/185
2024
Average annual personal income after taxes
$9,826
2026
$2,874
2026
Market capitalization of domestic companies
$11.8T
2024
$19.5B
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
30.8%
2019
Income share by poorest 10%
3.1%
2022
3.1%
2019
Government expenditure, % of GDP
32.9%
2024
19.3%
2024
Consumer prices inflation
0.2%
2023-2024
-0.43%
2023-2024
Central bank interest rate
3.1%
2024
7.75%
2025
Unemployment rate
5.11%
2021
4.67%
2023
Population
1402578808
22185425

Spending and national debt comparison by year

China
Spending

Debt
Sri Lanka
Spending

Debt
1x
Year % of GDP
China Sri Lanka
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 19.3% 100.8%
2023 32.7% 82% 19.5% 110.4%
2022 32.6% 75.5% 18.6% 115.9%
2021 31.9% 70.1% 20% 102.7%
2020 34.8% 69% 22.1% 96.9%
2019 33.6% 59.4% 19.5% 82.6%
2018 32.6% 55.6% 17.5% 83.6%
2017 32% 53.9% 17.9% 72.3%
2016 31.7% 49.7% 18.2% 75%
2015 31% 40.8% 19.3% 76.3%
2014 28.4% 39.3% 17.2% 69.6%
2013 28.1% 36.4% 16.6% 69.5%
2012 27.7% 33.8% 17.3% 67.5%
2011 26.6% 33.2% 19.1% 69.4%
2010 24.7% 33.3% 19.3% 68.7%
2009 25.2% 34% 21% 72.8%
2008 22.2% 26.7% 19.1% 68.8%
2007 17.9% 28.7% 19.9% 71.8%
2006 18.1% 25.2% 20.5% 74.3%
2005 18% 25.9% 20.1% 76.6%
2004 17.6% 26% 19.3% 86.5%
2003 18% 26.4% 19.3% 86.5%
2002 18.2% 25.6% 20.8% 96.3%
2001 17.2% 24.3% 22.4% 84.4%
2000 16.1% 22.7% 21.7% 79.2%
1999 14.9% 21.6% 20.5% 77.7%
1998 12.6% 20.4% 21.4% 74.2%
1997 11.5% 20.4% 21.4% 70.1%
1996 11% 21.2% 23.1% 76.2%
1995 11.1% 21.4% 24.8% 77.8%
1994 12.4% - 24.1% 77.9%
1993 13.4% - 23.2% 79.2%
1992 14.6% - 23% 77.9%
1991 16.5% - 26.4% 80.5%
1990 18.2% - 25.4% 78.9%
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/sri-lanka | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Sri Lanka spent $19.1B, or 19.3% of GDP.

Debt-to-GDP ratio is 88.3% in China and 100.8% in Sri Lanka, ranking 34/185 and 23/185, respectively.

Government deficit by year

Deficit/surplus
China

Sri Lanka
1x
Year Deficit/surplus, % of GDP
China Sri Lanka
2024 -7.34% -5.64%
2023 -6.71% -8.32%
2022 -7.32% -10.2%
2021 -5.9% -11.7%
2020 -9.56% -13.4%
2019 -6% -7.52%
2018 -4.2% -4.96%
2017 -3.34% -5.1%
2016 -3.33% -5%
2015 -2.5% -6.64%
2014 -0.67% -5.99%
2013 -0.82% -5%
2012 -0.3% -5.44%
2011 -0.1% -6.01%
2010 -0.36% -6.73%
2009 -1.72% -8.33%
2008 -0.02% -5.93%
2007 0.06% -5.81%
2006 -1.13% -5.91%
2005 -1.38% -5.93%
2004 -1.49% -6.32%
2003 -2.36% -6.15%
2002 -2.84% -6.9%
2001 -2.56% -8.48%
2000 -2.81% -7.78%
1999 -2.3% -5.58%
1998 -1.08% -6.79%
1997 -0.73% -5.71%
1996 -0.73% -6.89%
1995 -0.94% -7.11%
1994 -1.68% -7.41%
1993 -0.89% -5.77%
1992 -1.22% -4.95%
1991 -1.04% -7.97%
1990 -0.72% -6.39%
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/sri-lanka | 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 Sri Lanka's deficit of $5.58B, or 5.64% of GDP.

Over the past 35 years, China recorded a fiscal deficit in 34 of those years, while Sri Lanka ran a deficit in 35 years. On average, China posted an annual deficit equal to 2.46% of GDP, compared to deficit of 6.85% of GDP for Sri Lanka.

Inflation comparison by year

Inflation
China

Sri Lanka
1x
Year Consumer prices inflation
China Sri Lanka
2024 0.2% -0.43%
2023 0.2% 16.5%
2022 2% 49.7%
2021 0.9% 7.01%
2020 2.5% 6.15%
2019 2.9% 3.53%
2018 2.1% 2.14%
2017 1.6% 7.7%
2016 2% 3.96%
2015 1.5% 3.77%
2014 2% 3.18%
2013 2.7% 6.91%
2012 2.6% 7.54%
2011 5.4% 6.72%
2010 3.3% 6.22%
2009 -0.7% 3.46%
2008 5.9% 22.6%
2007 4.7% 15.8%
2006 1.5% 10%
2005 1.8% 11.6%
2004 3.9% 7.58%
2003 1.1% 6.31%
2002 -0.8% 9.55%
2001 0.7% 14.2%
2000 0.4% 6.18%
1999 -1.4% 4.69%
1998 -0.8% 9.36%
1997 2.8% 9.57%

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/sri-lanka | CC BY

Over the past 28 years, China has recorded an average annual inflation rate of 1.82%, compared with 9.34% in Sri Lanka. In 2024, inflation was 0.2% in China and -0.43% in Sri Lanka.

Top exports between countries

China
Export category Export value
Machinery & equipment $1.79B
Textiles & consumer goods $1.59B
Metals $610M
Chemicals & pharma $467M
Raw materials & minerals $169M
Wood & paper products $95.6M
Raw agricultural goods $93.4M
Miscellaneous $89.8M
Processed food, beverages & tobacco $29.3M
Animal & marine products $28M
Sri Lanka
Export category Export value
Textiles & consumer goods $102M
Raw agricultural goods $59.2M
Chemicals & pharma $26.1M
Raw materials & minerals $17.2M
Animal & marine products $13.4M
Machinery & equipment $11.7M
Metals $11.6M
Wood & paper products $5.23M
Processed food, beverages & tobacco $4.16M
Precious metals & jewellery $1.82M

Balance of trade

China Sri Lanka
Current account balance
$424B
2024
$1.21B
2024
Current account balance ranking
1/190
2024
53/190
2024
Current account balance, % of GDP
+2.26%
2024
+1.22%
2024
Goods imports
$2.64T
2024
$18.8B
2024
Goods exports
$3.41T
2024
$12.8B
2024
Service imports
$613B
2024
$3.48B
2024
Service exports
$384B
2024
$6.91B
2024
Imports of goods and services, % of GDP
17.2%
2024
22.5%
2024
Exports of goods and services, % of GDP
20%
2024
19.9%
2024

Economic freedom indices

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

China Sri Lanka
Economic freedom 48.3 50.3
Economic freedom ranking 170/197 162/197
Property rights 40.9 47.3
Government integrity 42.3 37.3
Judicial effectiveness 38.6 47.2
Tax burden 69.3 77
Government spending 67.8 89
Fiscal health 4.4 0
Business freedom 68.7 60.1
Labor freedom 57.9 54.3
Monetary freedom 76.1 65.9
Trade freedom 73.4 65.6
Investment freedom 20 30
Financial freedom 20 30

Economic freedom comparison by year

China
Sri Lanka
1x
Year Economic freedom index
China Sri Lanka
2026 48.3 50.3
2025 49 49.4
2024 48.5 49.2
2023 48.3 52.2
2022 48 53.3
2021 58.4 55.7
2020 59.5 57.4
2019 58.4 56.4
2018 57.8 57.8
2017 57.4 57.4
2016 52 59.9
2015 52.7 58.6
2014 52.5 60
2013 51.9 60.7
2012 51.2 58.3
2011 52 57.1
2010 51 54.6
2009 53.2 56
2008 53.1 58.4
2007 52 59.4
2006 53.6 58.7
2005 53.7 61
2004 52.5 61.6
2003 52.6 62.5
2002 52.8 64
2001 52.6 66
2000 56.4 63.2
1999 54.8 64
1998 53.1 64.6
1997 51.7 65.5
1996 51.3 62.5
1995 52 60.6

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

GeoRank.org/economy/china/sri-lanka | CC BY

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 50.3 for Sri Lanka, ranking 162/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Sri Lanka
Services, % of GDP
56.7%
2024
57.5%
2024
Industry, % of GDP
36.5%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
8.3%
2024
GNI, Atlas method
$19.3T
2024
$84.6B
2024
GNI per capita, PPP
$26,920
2024
$15,240
2024
Total reserves including gold
$3.46T
2024
$6.09B
2024
Total reserves ranking
1/177
2024
92/177
2024
Net foreign direct investment
$154B
2024
-$651M
2024
Net inflows of foreign direct investment
$18.6B
2024
$761M
2024
Net outflows of foreign direct investment
$172B
2024
$110M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
4.98%
2024
Poverty at national poverty lines
0%
2020
14.3%
2019
Gross capital formation, % of GDP
40.6%
2024
27%
2024

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/sri-lanka | 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 (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.