According to preliminary figures, the growth of real gross domestic product (GDP) in China amounted to 5.0 percent in 2024. For 2025, the IMF expects a GDP growth rate of around 4.6 percent. Real GDP growth The current gross domestic product is an important indicator of the economic strength of a country. It refers to the total market value of all goods and services that are produced within a country per year. When analyzing year-on-year changes, the current GDP is adjusted for inflation, thus making it constant. Real GDP growth is regarded as a key indicator for economic growth as it incorporates constant GDP figures. As of 2023, China was among the leading countries with the largest gross domestic product worldwide, second only to the United States which had a GDP volume of almost 27.5 trillion U.S. dollars. The Chinese GDP has shown remarkable growth over the past years. Upon closer examination of the distribution of GDP across economic sectors, a gradual shift from an economy heavily based on industrial production towards an economy focused on services becomes visible, with the service industry outpacing the manufacturing sector in terms of GDP contribution. Key indicator balance of trade Another important indicator for economic assessment is the balance of trade, which measures the relationship between imports and exports of a nation. As an economy heavily reliant on manufacturing and industrial production, China has reached a trade surplus over the last decade, with a total trade balance of around 823 billion U.S. dollars in 2023.

According to a median projection in January 2025, China's GDP was expected to grow by 4.9 percent in 2024, largely meeting the annual growth target of five percent set by the Chinese government. In the first quarter of 2020, the second-largest economy recorded the first contraction in decades due to the epidemic.  A root-to-branch shutdown of factories To curb the spread of the virus, the Chinese government imposed a lockdown in Wuhan, the epicenter, and other cities in Hubei province on January 23, 2020. A strict nationwide lockdown soon followed. Many factories remained closed in February, resulting in a plunge in manufacturing Purchasing Managers' Index (PMI). The shutdown of the “world’s factory” had severely disrupted global supply chains, especially automobile production. In March 2020, very few industrial sectors reported positive production growth.  The pharmaceuticals sector recorded a production increase, which was mainly driven by the global demand for vital medical supplies. China had exported over seven billion yuan worth of face masks. Ripple effects on global tourism Apart from the manufacturing industry, the prolonged closures of business had caused significant losses in various sectors in China. The travel and tourism sector was massively affected by a drastic decline in flight ticket sales  and hotel occupancy rates. The domestic tourism market expects a loss of 20 percent in revenues for 2020. Industry experts predicted that the global travel and tourism industry could lose about 2.5 trillion U.S. dollars in that year. 

In 2023, the gross domestic product (GDP) of China amounted to around 17.8 trillion U.S. dollars. In comparison to the GDP of the other BRIC countries India, Russia and Brazil, China came first that year and second in the world GDP ranking. The stagnation of China's GDP in U.S. dollar terms in 2022 and 2023 was mainly due to the appreciation of the U.S. dollar. China's real GDP growth was three percent in 2022 and 5.2 percent in 2023. In 2023, per capita GDP in China reached around 12,600 U.S. dollars. Economic performance in China Gross domestic product (GDP) is a primary economic indicator. It measures the total value of all goods and services produced in an economy over a certain time period. China's economy used to grow quickly in the past, but the growth rate of China’s real GDP gradually slowed down in recent years, and year-on-year GDP growth is forecasted to range at only around four percent in the years after 2023. Since 2010, China has been the world’s second-largest economy, surpassing Japan.China’s emergence in the world’s economy has a lot to do with its status as the ‘world’s factory’. Since 2013, China is the largest export country in the world. Some argue that it is partly due to the undervalued Chinese currency. The Big Mac Index, a simplified and informal way to measure the purchasing power parity between different currencies, indicates that the Chinese currency yuan was roughly undervalued by 31 percent in 2023. GDP development Although the impressive economic development in China has led millions of people out of poverty, China is still not in the league of industrialized countries on the per capita basis. To name one example, the U.S. per capita economic output was more than six times as large as in China in 2023. Meanwhile, the Chinese society faces increased income disparities. The Gini coefficient of China, a widely used indicator of economic inequality, has been larger than 0.45 over the last decade, whereas 0.40 is the warning level for social unrest.

In the fourth quarter of 2024, the growth of the real gross domestic product (GDP) in China ranged at 5.4 percent compared to the same quarter of the previous year. GDP refers to the total market value of all goods and services that are produced within a country per year. It is an important indicator of the economic strength of a country. Real GDP is adjusted for price changes and is therefore regarded as a key indicator for economic growth. GDP growth in China In 2024, China ranged second among countries with the largest gross domestic product worldwide. Since the introduction of economic reforms in 1978, the country has experienced rapid social and economic development. In 2013, it became the world’s largest trading nation, overtaking the United States. However, per capita GDP in China was still much lower than that of industrialized countries. Until 2011, the annual growth rate of China’s GDP had constantly been above nine percent. However, economic growth has cooled down since and is projected to further slow down gradually in the future. Rising domestic wages and the competitive edge of other Asian and African countries are seen as main reasons for the stuttering in China’s economic engine. One strategy of the Chinese government to overcome this transition is a gradual shift of economic focus from industrial production to services. Challenges to GDP growth Another major challenge lies in the massive environmental pollution that China’s reckless economic growth has caused over the past decades. China’s development has been powered mostly by coal consumption, which resulted in high air pollution. To counteract industrial pollution, further investments in waste management and clean technologies are necessary. In 2017, about 1.15 percent of GDP was spent on pollution control. Surging environmental costs aside, environmental issues could also be a key to industrial transition as China placed major investments in renewable energy and clean tech projects. The consumption of green energy skyrocketed from 0.52 exajoules in 2005 to 13.3 million in 2022.

China Potential(GDP) Gross Domestic ProductGrowth: Volume data was reported at 4.539 % in 2025. This records a decrease from the previous number of 4.578 % for 2024. China Potential(GDP) Gross Domestic ProductGrowth: Volume data is updated yearly, averaging 9.556 % from Dec 1991 (Median) to 2025, with 35 observations. The data reached an all-time high of 12.953 % in 1991 and a record low of 4.539 % in 2025. China Potential(GDP) Gross Domestic ProductGrowth: Volume data remains active status in CEIC and is reported by Organisation for Economic Co-operation and Development. The data is categorized under Global Database’s China – Table CN.OECD.EO: GDP: Potential Output and Output Gap: Forecast: Non OECD Member: Annual. GDPVTR_ANNPCT - Potential output, volume, growth. Percentage change compared to the previous period. Quarterly growth expressed at annual rate.

Key information about China GDP Per Capita

• China Gross Domestic Product (GDP) per Capita reached 12,621.720 USD in Dec 2023, compared with 12,674.873 USD in Dec 2022.
• China GDP Per Capita data is updated yearly, available from Dec 1957 to Dec 2023, with an average number of 369.297 USD.
• The data reached an all-time high of 12,674.873 USD in Dec 2022 and a record low of 68.243 in Dec 1957.
• CEIC converts annual GDP per Capita into USD. The National Bureau of Statistics provides GDP per Capita in local currency. Federal Reserve Board average market exchange rate is used for currency conversions.

• In the latest reports, China GDP expanded 4.550 % YoY in Mar 2023.
• China Nominal GDP reached 4,166.759 USD bn in Mar 2023.
• Its GDP deflator (implicit price deflator) increased 0.400 % in Mar 2023.
• Gross Savings Rate of China was measured at 44.277 % in Dec 2023.

The Gross Domestic Product per capita in China was last recorded at 22137.60 US dollars in 2023, when adjusted by purchasing power parity (PPP). The GDP per Capita, in China, when adjusted by Purchasing Power Parity is equivalent to 125 percent of the world's average. This dataset provides - China GDP per capita PPP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

GDP: Year to Date: Primary Industry: Shaanxi data was reported at 262.196 RMB bn in Dec 2024. This records an increase from the previous number of 124.432 RMB bn for Sep 2024. GDP: Year to Date: Primary Industry: Shaanxi data is updated quarterly, averaging 29.437 RMB bn from Dec 1992 (Median) to Dec 2024, with 108 observations. The data reached an all-time high of 264.975 RMB bn in Dec 2023 and a record low of 2.722 RMB bn in Mar 2001. GDP: Year to Date: Primary Industry: Shaanxi data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: by Province: Quarterly.

Forecast: Contribution to GDP of Manufacturing in China 2024 - 2028 Discover more data with ReportLinker!

Gdp From Mining in China increased to 23696 CNY HML in 2019 from 22592 CNY HML in 2018. This dataset provides - China Gdp From Mining- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Forecast: Contribution to GDP of Construction in China 2024 - 2028 Discover more data with ReportLinker!

GDP Deflator in China increased to 736.70 points in 2022 from 723.77 points in 2021. This dataset provides - China GDP Deflator - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The growth of the real gross domestic product (GDP) in Macao was forecast to continuously decrease between 2024 and 2029 by in total 7.6 percentage points. According to this forecast, in 2029, the growth will have decreased for the sixth consecutive year to 3.02 percent. As described by the International Monetary Fund, this indicator describes the annual change in the gross domestic product at constant prices. This is expressed in national currency units. Here the gross domestic product represents the total value of the final goods and services produced during a year.Find more key insights for the growth of the real gross domestic product (GDP) in countries like Taiwan, China, and Hong Kong SAR China.

Forecast: Contribution to GDP of Agriculture, Hunting, Forestry, Fishing in China 2024 - 2028 Discover more data with ReportLinker!

The graph shows per capita gross domestic product (GDP) in China until 2023, with forecasts until 2029. In 2023, per capita GDP reached around 12,600 U.S. dollars in China. That year, the overall GDP of China had amounted to 17.8 trillion U.S. dollars. Per capita GDP in China Gross domestic product is a commonly-used economic indicator for measuring the state of a country's economy. GDP is the total market value of goods and services produced in a country within a given period of time, usually a year. Per capita GDP is defined as the GDP divided by the total number of people in the country. This indicator is generally used to compare the economic prosperity of countries with varying population sizes.In 2010, China overtook Japan and became the world’s second-largest economy. As of 2023, it was the largest exporter and the second largest importer in the world. However, one reason behind its economic strength lies within its population size. China has to distribute its wealth among 1.4 billion people. By 2023, China's per capita GDP was only about one fourth as large as that of main industrialized countries. When compared to other emerging markets, China ranked second among BRIC countries in terms of GDP per capita. Future development According to projections by the IMF, per capita GDP in China will escalate from around 12,600 U.S. dollars in 2022 to 17,700 U.S. dollars in 2029. Major reasons for this are comparatively high economic growth rates combined with negative population growth. China's economic structure is also undergoing changes. A major trend lies in the shift from an industry-based to a service-based economy.

Households Debt in China decreased to 60.10 percent of GDP in the third quarter of 2024 from 60.40 percent of GDP in the second quarter of 2024. This dataset provides - China Households Debt To Gdp- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, the rate of surveyed unemployment in urban areas of China amounted to approximately 5.2 percent. The unemployment rate is expected to decrease slightly to 5.1 percent in 2024 and the following years. Monthly unemployment ranged at a level of around 5.2 percent in the third quarter of 2024. Unemployment rate in China In 2017, the National Statistics Bureau of China introduced surveyed unemployment as a new indicator of unemployment in the country. It is based on monthly surveys among the labor force in urban areas of China. Surveyed unemployment replaced registered unemployment figures, which were often criticized for missing out large parts of the urban labor force and thereby not presenting a true picture of urban unemployment levels. However, current unemployment figures still do not include rural areas.A main concern in China’s current state of employment lies within the large regional differences. As of 2021, the unemployment rate in northeastern regions of China was notably higher than in China’s southern parts. In Beijing, China’s political and cultural center, registered unemployment ranged at around 3.2 percent for 2021. Indicators of economic activities Apart from the unemployment rate, most commonly used indicators to measure economic activities of a country are GDP growth and inflation rate. According to an IMF forecast, GDP growth in China will decrease to about 4.8 percent in 2024, after 5.2 percent in 2023, depicting a decrease of six percentage points from 10.6 percent in 2010. Quarterly growth data published by the National Bureau of Statistics indicated 4.6 percent GDP growth for the third quarter of 2024.

China Share to(GDP) Gross Domestic ProductGrowth: Year to Date: Net Export of Goods and Service data was reported at 30.300 % in Dec 2024. This records an increase from the previous number of 23.700 % for Sep 2024. China Share to(GDP) Gross Domestic ProductGrowth: Year to Date: Net Export of Goods and Service data is updated quarterly, averaging 0.900 % from Dec 2009 (Median) to Dec 2024, with 61 observations. The data reached an all-time high of 41.500 % in Sep 2020 and a record low of -42.844 % in Dec 2009. China Share to(GDP) Gross Domestic ProductGrowth: Year to Date: Net Export of Goods and Service data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under Global Database’s China – Table CN.AA: Gross Domestic Product: Contribution and Share to Growth.

GDP: Guangdong: Dongguan data was reported at 1,228.215 RMB bn in 2024. This records an increase from the previous number of 1,143.813 RMB bn for 2023. GDP: Guangdong: Dongguan data is updated yearly, averaging 99.348 RMB bn from Dec 1978 (Median) to 2024, with 47 observations. The data reached an all-time high of 1,228.215 RMB bn in 2024 and a record low of 0.611 RMB bn in 1978. GDP: Guangdong: Dongguan data remains active status in CEIC and is reported by Dongguan Municipal Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AE: Gross Domestic Product: Prefecture Level City.

GDP: Year to Date: Secondary Industry: Yunnan data was reported at 1,033.003 RMB bn in Dec 2024. This records an increase from the previous number of 744.948 RMB bn for Sep 2024. GDP: Year to Date: Secondary Industry: Yunnan data is updated quarterly, averaging 170.365 RMB bn from Dec 1992 (Median) to Dec 2024, with 106 observations. The data reached an all-time high of 1,033.003 RMB bn in Dec 2024 and a record low of 17.270 RMB bn in Mar 2000. GDP: Year to Date: Secondary Industry: Yunnan data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s National Accounts – Table CN.AA: Gross Domestic Product: by Province: Quarterly.