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Economy of China vs Vanuatu compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $1.12B for Vanuatu, ranking 2/197 and 188/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

China vs Vanuatu GDP by year

China
Vanuatu
1x
Year GDP, current $
China Vanuatu
2024 $18,743,803,170,827 $1,117,972,034
2023 $18,270,356,654,533 $1,115,861,056
2022 $18,316,765,021,690 $1,055,031,361
2021 $18,201,698,719,564 $950,394,007
2020 $14,996,414,166,715 $909,421,044
2019 $14,560,167,101,283 $936,526,268
2018 $14,147,765,772,964 $914,727,908
2017 $12,537,559,062,283 $880,043,284
2016 $11,456,024,084,962 $804,323,577
2015 $11,280,814,787,469 $759,690,181
2014 $10,674,533,168,257 $773,717,011
2013 $9,743,124,247,267 $758,304,466
2012 $8,673,664,713,189 $747,839,698
2011 $7,671,757,207,851 $770,153,588
2010 $6,192,564,874,453 $670,712,980
2009 $5,189,577,094,998 $592,622,319
2008 $4,667,346,414,522 $590,748,429
2007 $3,604,055,822,572 $516,392,923
2006 $2,791,498,472,804 $439,358,587
2005 $2,317,551,298,052 $394,962,433
2004 $1,984,196,551,300 $364,996,869
2003 $1,683,903,309,844 $314,471,413
2002 $1,489,821,682,051 $262,596,536
2001 $1,355,036,590,252 $257,926,882
2000 $1,223,754,919,971 $272,014,628
1999 $1,103,843,203,576 $268,006,973
1998 $1,037,134,141,760 $262,293,411
1997 $967,753,570,435 $272,771,209
1996 $868,523,936,530 $261,370,044
1995 $738,190,896,228 $249,333,250
1994 $566,929,539,493 $233,701,301
1993 $446,557,291,212 $200,491,853
1992 $428,502,354,788 $209,088,825
1991 $384,510,452,962 $201,334,169
1990 $361,560,229,446 $168,879,207
1989 $348,380,566,802 $154,013,202
1988 $312,888,888,889 $158,351,368
1987 $273,455,156,951 $139,464,174
1986 $301,310,144,928 $126,498,935
1985 $310,064,625,850 $131,856,421
1984 $260,442,857,143 $144,482,515
1983 $231,130,268,199 $117,389,554
1982 $205,480,916,031 $114,501,913
1981 $196,218,253,968 $113,781,796
1980 $191,487,500,000 $121,185,498
1979 $178,573,913,043 $119,258,835
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in China vs Vanuatu by year

China
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $3,411 $3,606
2023 $12,951 $25,179 $3,483 $3,568
2022 $12,971 $23,032 $3,370 $3,453
2021 $12,887 $20,843 $3,107 $3,136
2020 $10,627 $18,267 $3,043 $3,118
2019 $10,343 $17,601 $3,207 $3,315
2018 $10,086 $16,298 $3,207 $3,233
2017 $8,980 $15,022 $3,160 $3,146
2016 $8,255 $14,157 $2,956 $3,030
2015 $8,175 $13,463 $2,855 $2,966
2014 $7,781 $12,942 $2,973 $2,890
2013 $7,147 $12,228 $2,980 $2,832
2012 $6,405 $11,420 $3,005 $2,834
2011 $5,704 $10,457 $3,163 $2,816
2010 $4,629 $9,411 $2,815 $2,733
2009 $3,898 $8,448 $2,546 $2,730
2008 $3,523 $7,713 $2,604 $2,701
2007 $2,735 $6,935 $2,334 $2,573
2006 $2,129 $5,946 $2,035 $2,496
2005 $1,778 $5,148 $1,874 $2,287
2004 $1,531 $4,505 $1,774 $2,157
2003 $1,307 $4,007 $1,567 $2,070
2002 $1,164 $3,591 $1,341 $1,995
2001 $1,065 $3,258 $1,350 $2,125
2000 $969 $2,964 $1,460 $2,206
1999 $881 $2,690 $1,472 $2,084
1998 $835 $2,483 $1,471 $2,091
1997 $787 $2,297 $1,562 $2,087
1996 $713 $2,088 $1,529 $1,998
1995 $613 $1,884 $1,492 $1,961
1994 $476 $1,680 $1,431 $1,946
1993 $379 $1,471 $1,257 $1,789
1992 $368 $1,276 $1,344 $1,777
1991 $334 $1,105 $1,326 $1,737
1990 $319 $991 $1,141 $1,670
1989 $311 - $1,067 -
1988 $284 - $1,125 -
1987 $252.3 - $1,017 -
1986 $282.4 - $946 -
1985 $295 - $1,012 -
1984 $251.2 - $1,137 -
1983 $225.9 - $947 -
1982 $203.7 - $946 -
1981 $197.4 - $962 -
1980 $195.1 - $1,048 -
1979 $184.3 - $1,055 -
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 (1960–2024, retrieved 2026-04-06).

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

China's GDP per capita is $13,303, ranking 76/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Vanuatu ranks 170th at $3,606.

Economic indicators

China Vanuatu
Gross domestic product
$18.7T
2024
$1.12B
2024
GDP rank
2/197
2024
188/197
2024
GDP growth
4.98%
2023-2024
0.94%
2023-2024
GDP per capita
$13,303
2024
$3,411
2024
GDP per capita rank
76/197
2024
137/197
2024
GDP per capita, PPP
$27,105
2024
$3,606
2024
GDP per capita PPP rank
77/197
2024
170/197
2024
Government debt
$16.6T
2024
$507M
2024
Debt-to-GDP ratio
88.3%
2024
45.3%
2024
Government debt per person
$11,749
2024
$1,546
2024
Government debt per person rank
47/185
2024
131/185
2024
Average annual personal income after taxes
$9,826
2026
$3,164
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
24.7%
2019
Income share by poorest 10%
3.1%
2022
3%
2019
Government expenditure, % of GDP
32.9%
2024
41.1%
2024
Consumer prices inflation
0.2%
2023-2024
11.2%
2022-2023
Central bank interest rate
3.1%
2024
n/a
Unemployment rate
5.11%
2021
4.05%
2020
Population
1402578808
344750

Spending and national debt comparison by year

China
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
China Vanuatu
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 41.1% 45.3%
2023 32.7% 82% 41.6% 41.8%
2022 32.6% 75.5% 42% 42.8%
2021 31.9% 70.1% 44.4% 48.5%
2020 34.8% 69% 43.4% 48%
2019 33.6% 59.4% 39.8% 45.1%
2018 32.6% 55.6% 33.3% 45.3%
2017 32% 53.9% 37.1% 52.6%
2016 31.7% 49.7% 35.2% 42.5%
2015 31% 40.8% 42.4% 36.3%
2014 28.4% 39.3% 23.3% 20.2%
2013 28.1% 36.4% 22.9% 18.6%
2012 27.7% 33.8% 24.5% 19.3%
2011 26.6% 33.2% 25.1% 21.3%
2010 24.7% 33.3% 28.3% 20.2%
2009 25.2% 34% 27.6% 21.1%
2008 22.2% 26.7% 27.8% 21.2%
2007 17.9% 28.7% 22.5% 19.5%
2006 18.1% 25.2% 20.1% 22.2%
2005 18% 25.9% 18.3% 26.3%
2004 17.6% 26% 18.5% 30.4%
2003 18% 26.4% 18.8% 38.3%
2002 18.2% 25.6% 22.3% 38.8%
2001 17.2% 24.3% 22.3% 37%
2000 16.1% 22.7% 25.4% 36.1%
1999 14.9% 21.6% 23.9% 30.6%
1998 12.6% 20.4% 27.9% 28%
1997 11.5% 20.4% 22.2% 22.9%
1996 11% 21.2% 24.5% 23.1%
1995 11.1% 21.4% 28% 24.1%
1994 12.4% - 24.4% 21.6%
1993 13.4% - 26.2% 20.3%
1992 14.6% - 31.8% 21%
1991 16.5% - 33.2% 15.9%
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/vanuatu | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 88.3% in China and 45.3% in Vanuatu, ranking 34/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
China

Vanuatu
1x
Year Deficit/surplus, % of GDP
China Vanuatu
2024 -7.34% -2.34%
2023 -6.71% -0.95%
2022 -7.32% -6.5%
2021 -5.9% 2.38%
2020 -9.56% -1.95%
2019 -6% 2.81%
2018 -4.2% 6.26%
2017 -3.34% -1.2%
2016 -3.33% -0.72%
2015 -2.5% -8.66%
2014 -0.67% 1.44%
2013 -0.82% -0.25%
2012 -0.3% -1.7%
2011 -0.1% -2.19%
2010 -0.36% -2.63%
2009 -1.72% -0.85%
2008 -0.02% -0.04%
2007 0.06% 0.28%
2006 -1.13% 0.49%
2005 -1.38% 1.86%
2004 -1.49% 0.8%
2003 -2.36% -1.35%
2002 -2.84% -3.63%
2001 -2.56% -3.33%
2000 -2.81% -6.28%
1999 -2.3% -0.55%
1998 -1.08% -6.65%
1997 -0.73% -0.51%
1996 -0.73% -1.78%
1995 -0.94% -2.59%
1994 -1.68% -1.49%
1993 -0.89% -3.67%
1992 -1.22% -2.32%
1991 -1.04% -2.81%
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/vanuatu | 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 Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 34 years, China recorded a fiscal deficit in 33 of those years, while Vanuatu ran a deficit in 26 years. On average, China posted an annual deficit equal to 2.51% of GDP, compared to deficit of 1.49% of GDP for Vanuatu.

Inflation comparison by year

Inflation
China

Vanuatu
1x
Year Consumer prices inflation
China Vanuatu
2024 0.2% -
2023 0.2% 11.2%
2022 2% 6.68%
2021 0.9% 2.34%
2020 2.5% 5.33%
2019 2.9% 2.76%
2018 2.1% 2.33%
2017 1.6% 3.08%
2016 2% 0.84%
2015 1.5% 2.48%
2014 2% 0.8%
2013 2.7% 1.46%
2012 2.6% 1.35%
2011 5.4% 0.87%
2010 3.3% 2.76%
2009 -0.7% 4.3%
2008 5.9% 4.84%
2007 4.7% 3.94%
2006 1.5% 2.04%
2005 1.8% 1.2%
2004 3.9% 1.42%
2003 1.1% 3.02%
2002 -0.8% 1.96%
2001 0.7% 3.58%
2000 0.4% 2.54%
1999 -1.4% 2%
1998 -0.8% 3.28%
1997 2.8% 2.83%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2023, retrieved 2026-04-06).

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

Over the past 27 years, China has recorded an average annual inflation rate of 1.88%, compared with 3.01% in Vanuatu. In 2023, inflation was 0.2% in China and 11.2% in Vanuatu.

Top exports between countries

China
Export category Export value
Machinery & equipment $95.8M
Textiles & consumer goods $26.5M
Metals $17.8M
Raw materials & minerals $16.9M
Chemicals & pharma $10.4M
Miscellaneous $7.19M
Processed food, beverages & tobacco $6.95M
Wood & paper products $3.82M
Raw agricultural goods $1.24M
Animal & marine products $367K
Vanuatu
Export category Export value
Raw agricultural goods $122K
Processed food, beverages & tobacco $69K
Wood & paper products $44K
Machinery & equipment $21K

Balance of trade

China Vanuatu
Current account balance
$424B
2024
-$127M
2022
Current account balance ranking
1/190
2024
90/190
2022
Current account balance, % of GDP
+2.26%
2024
-12.1%
2022
Goods imports
$2.64T
2024
$350M
2022
Goods exports
$3.41T
2024
$73.6M
2022
Service imports
$613B
2024
$230M
2022
Service exports
$384B
2024
$78.5M
2022
Imports of goods and services, % of GDP
17.2%
2024
54.2%
2022
Exports of goods and services, % of GDP
20%
2024
9.43%
2022

Economic freedom indices

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

China Vanuatu
Economic freedom 48.3 61.1
Economic freedom ranking 170/197 92/197
Property rights 40.9 62.1
Government integrity 42.3 48.3
Judicial effectiveness 38.6 67.9
Tax burden 69.3 96.9
Government spending 67.8 48.1
Fiscal health 4.4 78.8
Business freedom 68.7 50.3
Labor freedom 57.9 41
Monetary freedom 76.1 72.1
Trade freedom 73.4 62
Investment freedom 20 65
Financial freedom 20 40

Economic freedom comparison by year

China
Vanuatu
1x
Year Economic freedom index
China Vanuatu
2026 48.3 61.1
2025 49 61.8
2024 48.5 62.2
2023 48.3 62.1
2022 48 62.9
2021 58.4 60.5
2020 59.5 60.7
2019 58.4 56.4
2018 57.8 69.5
2017 57.4 67.4
2016 52 60.8
2015 52.7 61.1
2014 52.5 59.5
2013 51.9 56.6
2012 51.2 56.6
2011 52 56.7
2010 51 56.4
2009 53.2 58.4
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/vanuatu | CC BY

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Vanuatu
Services, % of GDP
56.7%
2024
59.1%
2022
Industry, % of GDP
36.5%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
24.3%
2022
GNI, Atlas method
$19.3T
2024
$1.28B
2024
GNI per capita, PPP
$26,920
2024
$4,140
2024
Total reserves including gold
$3.46T
2024
$615M
2024
Total reserves ranking
1/177
2024
152/177
2024
Net foreign direct investment
$154B
2024
-$9.21M
2022
Net inflows of foreign direct investment
$18.6B
2024
$28.9M
2024
Net outflows of foreign direct investment
$172B
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
2.04%
2024
Poverty at national poverty lines
0%
2020
15.9%
2020
Gross capital formation, % of GDP
40.6%
2024
38.3%
2022

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/vanuatu | 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 (2011–2024, 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.