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Economy of China vs Vietnam compared: GDP & Debt

Updated on by Georank team

China has a GDP of $18.7T compared to $476B for Vietnam, ranking 2/197 and 33/197 by economy size, respectively.

China has $16.6T in government debt (88.3% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

China vs Vietnam GDP by year

China
Vietnam
1x
Year GDP, current $
China Vietnam
2024 $18,743,803,170,827 $476,388,230,307
2023 $18,270,356,654,533 $433,857,681,378
2022 $18,316,765,021,690 $413,445,230,669
2021 $18,201,698,719,564 $366,474,752,771
2020 $14,996,414,166,715 $346,615,738,538
2019 $14,560,167,101,283 $334,365,270,497
2018 $14,147,765,772,964 $310,106,478,395
2017 $12,537,559,062,283 $281,353,605,987
2016 $11,456,024,084,962 $257,096,001,178
2015 $11,280,814,787,469 $239,258,328,382
2014 $10,674,533,168,257 $233,451,469,643
2013 $9,743,124,247,267 $213,708,811,665
2012 $8,673,664,713,189 $195,590,661,129
2011 $7,671,757,207,851 $172,595,049,184
2010 $6,192,564,874,453 $147,201,173,197
2009 $5,189,577,094,998 $106,014,659,565
2008 $4,667,346,414,522 $99,130,304,099
2007 $3,604,055,822,572 $77,414,425,532
2006 $2,791,498,472,804 $66,371,664,817
2005 $2,317,551,298,052 $57,633,255,738
2004 $1,984,196,551,300 $45,427,854,693
2003 $1,683,903,309,844 $39,552,513,232
2002 $1,489,821,682,051 $35,064,105,501
2001 $1,355,036,590,252 $32,685,198,809
2000 $1,223,754,919,971 $31,172,518,403
1999 $1,103,843,203,576 $28,683,659,007
1998 $1,037,134,141,760 $27,209,602,050
1997 $967,753,570,435 $26,843,700,442
1996 $868,523,936,530 $24,657,470,575
1995 $738,190,896,228 $20,736,164,459
1994 $566,929,539,493 $16,286,433,533
1993 $446,557,291,212 $13,180,953,598
1992 $428,502,354,788 $9,866,990,236
1991 $384,510,452,962 $9,613,369,520
1990 $361,560,229,446 $6,471,740,806
1989 $348,380,566,802 $6,293,304,975
1988 $312,888,888,889 $25,423,812,649
1987 $273,455,156,951 $36,658,108,850
1986 $301,310,144,928 $26,336,616,250
1985 $310,064,625,850 $14,094,687,821
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 (1960–2024, retrieved 2026-04-06).

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

GDP per capita in China vs Vietnam by year

China
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
China Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $13,303 $27,105 $4,717 $16,386
2023 $12,951 $25,179 $4,323 $15,034
2022 $12,971 $23,032 $4,148 $13,905
2021 $12,887 $20,843 $3,704 $12,049
2020 $10,627 $18,267 $3,534 $11,609
2019 $10,343 $17,601 $3,441 $11,029
2018 $10,086 $16,298 $3,222 $10,010
2017 $8,980 $15,022 $2,956 $9,170
2016 $8,255 $14,157 $2,735 $8,375
2015 $8,175 $13,463 $2,578 $7,672
2014 $7,781 $12,942 $2,546 $7,297
2013 $7,147 $12,228 $2,360 $6,758
2012 $6,405 $11,420 $2,185 $6,377
2011 $5,704 $10,457 $1,951 $5,786
2010 $4,629 $9,411 $1,683 $5,389
2009 $3,898 $8,448 $1,226 $5,061
2008 $3,523 $7,713 $1,164 $4,844
2007 $2,735 $6,935 $926 $4,581
2006 $2,129 $5,946 $808 $4,237
2005 $1,778 $5,148 $711 $3,894
2004 $1,531 $4,505 $565 $3,543
2003 $1,307 $4,007 $497 $3,240
2002 $1,164 $3,591 $445 $3,002
2001 $1,065 $3,258 $419 $2,809
2000 $969 $2,964 $404 $2,614
1999 $881 $2,690 $376 $2,421
1998 $835 $2,483 $361 $2,308
1997 $787 $2,297 $362 $2,189
1996 $713 $2,088 $337 $2,019
1995 $613 $1,884 $287.8 $1,841
1994 $476 $1,680 $229.9 $1,674
1993 $379 $1,471 $189.4 $1,534
1992 $368 $1,276 $144.5 $1,413
1991 $334 $1,105 $143.7 $1,298
1990 $319 $991 $98.8 $1,210
1989 $311 - $98.1 -
1988 $284 - $405 -
1987 $252.3 - $595 -
1986 $282.4 - $436 -
1985 $295 - $238.6 -
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 (1960–2024, retrieved 2026-04-06).

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

China's GDP per capita is $13,303, ranking 76/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), China ranks 77th at $27,105, while Vietnam ranks 108th at $16,386.

Economic indicators

China Vietnam
Gross domestic product
$18.7T
2024
$476B
2024
GDP rank
2/197
2024
33/197
2024
GDP growth
4.98%
2023-2024
7.09%
2023-2024
GDP per capita
$13,303
2024
$4,717
2024
GDP per capita rank
76/197
2024
122/197
2024
GDP per capita, PPP
$27,105
2024
$16,386
2024
GDP per capita PPP rank
77/197
2024
108/197
2024
Government debt
$16.6T
2024
$149B
2024
Debt-to-GDP ratio
88.3%
2024
31.3%
2024
Government debt per person
$11,749
2024
$1,475
2024
Government debt per person rank
47/185
2024
132/185
2024
Average annual personal income after taxes
$9,826
2026
$4,020
2026
Market capitalization of domestic companies
$11.8T
2024
$205B
2024
Number of millionaires
6,327,000
2025
n/a
Number of billionaires
450
2025
5
2025
Income share by richest 10%
28.4%
2022
28.1%
2022
Income share by poorest 10%
3.1%
2022
2.6%
2022
Government expenditure, % of GDP
32.9%
2024
19.1%
2024
Consumer prices inflation
0.2%
2023-2024
3.6%
2023-2024
Central bank interest rate
3.1%
2024
4.5%
2023
Unemployment rate
5.11%
2021
1.53%
2024
Population
1402578808
102365351

Spending and national debt comparison by year

China
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
China Vietnam
Government spending Government debt Government spending Government debt
2024 32.9% 88.3% 19.1% 31.3%
2023 32.7% 82% 18.8% 34.3%
2022 32.6% 75.5% 18.2% 34.9%
2021 31.9% 70.1% 20.1% 39.2%
2020 34.8% 69% 21.3% 41.3%
2019 33.6% 59.4% 19.8% 41%
2018 32.6% 55.6% 20.5% 43.8%
2017 32% 53.9% 21.5% 46.6%
2016 31.7% 49.7% 22.2% 47.9%
2015 31% 40.8% 24.2% 46.1%
2014 28.4% 39.3% 22.8% 43.6%
2013 28.1% 36.4% 24.5% 41.4%
2012 27.7% 33.8% 23.5% 38.3%
2011 26.6% 33.2% 21.2% 36.2%
2010 24.7% 33.3% 23.7% 37.3%
2009 25.2% 34% 25% 36.2%
2008 22.2% 26.7% 21.4% 31%
2007 17.9% 28.7% 22.3% 32.2%
2006 18.1% 25.2% 20.5% 30.2%
2005 18% 25.9% 20.6% 28.7%
2004 17.6% 26% 19.4% 29.4%
2003 18% 26.4% 22.2% 29.8%
2002 18.2% 25.6% 19.7% 27.7%
2001 17.2% 24.3% 19.2% 25.4%
2000 16.1% 22.7% 17.8% 24.8%
1999 14.9% 21.6% 16.7% -
1998 12.6% 20.4% 16% -
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/vietnam | CC BY

In 2024, China's government spending was $6.18T, accounting for 32.9% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 88.3% in China and 31.3% in Vietnam, ranking 34/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
China

Vietnam
1x
Year Deficit/surplus, % of GDP
China Vietnam
2024 -7.34% -1.54%
2023 -6.71% -1.72%
2022 -7.32% 0.67%
2021 -5.9% -1.43%
2020 -9.56% -2.86%
2019 -6% -0.4%
2018 -4.2% -1.02%
2017 -3.34% -1.96%
2016 -3.33% -3.16%
2015 -2.5% -4.98%
2014 -0.67% -5.02%
2013 -0.82% -5.96%
2012 -0.3% -5.46%
2011 -0.1% -0.9%
2010 -0.36% -2.25%
2009 -1.72% -4.82%
2008 -0.02% -0.45%
2007 0.06% -1.74%
2006 -1.13% 0.2%
2005 -1.38% -0.95%
2004 -1.49% -0.15%
2003 -2.36% -2.56%
2002 -2.84% -1.85%
2001 -2.56% -2.19%
2000 -2.81% -1.61%
1999 -2.3% -1.25%
1998 -1.08% -0.1%
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, China recorded a fiscal deficit in 26 of those years, while Vietnam ran a deficit in 25 years. On average, China posted an annual deficit equal to 2.89% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
China

Vietnam
1x
Year Consumer prices inflation
China Vietnam
2024 0.2% 3.6%
2023 0.2% 3.3%
2022 2% 3.2%
2021 0.9% 1.8%
2020 2.5% 3.2%
2019 2.9% 2.8%
2018 2.1% 3.5%
2017 1.6% 3.5%
2016 2% 2.7%
2015 1.5% 0.6%
2014 2% 4.1%
2013 2.7% 6.6%
2012 2.6% 9.1%
2011 5.4% 18.7%
2010 3.3% 9.1%
2009 -0.7% 6.7%
2008 5.9% 23.3%
2007 4.7% 8.4%
2006 1.5% 7.7%
2005 1.8% 8.3%
2004 3.9% 7.8%
2003 1.1% 3.1%
2002 -0.8% 3.8%
2001 0.7% -0.4%
2000 0.4% -1.8%
1999 -1.4% 4.1%
1998 -0.8% 8.1%
1997 2.8% 3.1%

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

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

Over the past 28 years, China has recorded an average annual inflation rate of 1.82%, compared with 5.64% in Vietnam. In 2024, inflation was 0.2% in China and 3.6% in Vietnam.

Top exports between countries

China
Export category Export value
Machinery & equipment $83.4B
Textiles & consumer goods $29.3B
Metals $15.9B
Chemicals & pharma $14.3B
Raw materials & minerals $5.7B
Miscellaneous $4.19B
Raw agricultural goods $3.48B
Wood & paper products $2.64B
Processed food, beverages & tobacco $1.46B
Animal & marine products $1.16B
Vietnam
Export category Export value
Machinery & equipment $38.7B
Textiles & consumer goods $5.94B
Raw agricultural goods $5.93B
Raw materials & minerals $2.88B
Wood & paper products $2.18B
Processed food, beverages & tobacco $1.52B
Animal & marine products $1.47B
Chemicals & pharma $1.25B
Metals $630M
Miscellaneous $51M

Balance of trade

China Vietnam
Current account balance
$424B
2024
$28B
2024
Current account balance ranking
1/190
2024
18/190
2024
Current account balance, % of GDP
+2.26%
2024
+5.89%
2024
Goods imports
$2.64T
2024
$362B
2024
Goods exports
$3.41T
2024
$406B
2024
Service imports
$613B
2024
$36.2B
2024
Service exports
$384B
2024
$23.9B
2024
Imports of goods and services, % of GDP
17.2%
2024
83.7%
2024
Exports of goods and services, % of GDP
20%
2024
90.2%
2024

Economic freedom indices

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

China Vietnam
Economic freedom 48.3 64.4
Economic freedom ranking 170/197 73/197
Property rights 40.9 47.3
Government integrity 42.3 39.2
Judicial effectiveness 38.6 31.3
Tax burden 69.3 80.9
Government spending 67.8 89.5
Fiscal health 4.4 96.9
Business freedom 68.7 70
Labor freedom 57.9 54.7
Monetary freedom 76.1 73.2
Trade freedom 73.4 79.8
Investment freedom 20 60
Financial freedom 20 50

Economic freedom comparison by year

China
Vietnam
1x
Year Economic freedom index
China Vietnam
2026 48.3 64.4
2025 49 65.2
2024 48.5 62.8
2023 48.3 61.8
2022 48 60.6
2021 58.4 61.7
2020 59.5 58.8
2019 58.4 55.3
2018 57.8 53.1
2017 57.4 52.4
2016 52 54
2015 52.7 51.7
2014 52.5 50.8
2013 51.9 51
2012 51.2 51.3
2011 52 51.6
2010 51 49.8
2009 53.2 51
2008 53.1 50.4
2007 52 49.8
2006 53.6 50.5
2005 53.7 48.1
2004 52.5 46.1
2003 52.6 46.2
2002 52.8 45.6
2001 52.6 44.3
2000 56.4 43.7
1999 54.8 42.7
1998 53.1 40.4
1997 51.7 38.6
1996 51.3 40.2
1995 52 41.7

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

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

The Economic Freedom Index for China is 48.3, ranking 170/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

China Vietnam
Services, % of GDP
56.7%
2024
42.4%
2024
Industry, % of GDP
36.5%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
6.78%
2024
11.9%
2024
GNI, Atlas method
$19.3T
2024
$454B
2024
GNI per capita, PPP
$26,920
2024
$15,850
2024
Total reserves including gold
$3.46T
2024
$83.1B
2024
Total reserves ranking
1/177
2024
30/177
2024
Net foreign direct investment
$154B
2024
-$19.6B
2024
Net inflows of foreign direct investment
$18.6B
2024
$20.2B
2024
Net outflows of foreign direct investment
$172B
2024
$600M
2024
Servicing debt to the IMF, % of GNI
1.89%
2024
7.29%
2024
Poverty at national poverty lines
0%
2020
4.2%
2022
Gross capital formation, % of GDP
40.6%
2024
30.6%
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/vietnam | 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 (2023–2024, 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.