The impact of coronavirus COVID-19 outbreak with a prolonged shutdown of business operation could be devastating on China's economy. Recreation industry was estimated to suffer the most with a drop by *** percentage points form the baseline of no virus outbreak. Transportation, trade and communication services were other hard-hit industries.

In 2024, the gross domestic product (GDP) of China amounted to around 18.7 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 5.4 percent in 2023 and 5.0 percent in 2024. In 2024, per capita GDP in China reached around 13,300 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 2024. 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 38 percent in 2024. 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 2024. 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.

The Gross Domestic Product (GDP) in China expanded 4.80 percent in the third quarter of 2025 over the same quarter of the previous year. This dataset provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product (GDP) in China was worth 18743.80 billion US dollars in 2024, according to official data from the World Bank. The GDP value of China represents 17.65 percent of the world economy. This dataset provides - China GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Full Year GDP Growth in China decreased to 5 percent in 2024 from 5.40 percent in 2023. This dataset includes a chart with historical data for China Full Year GDP Growth.

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 4.8 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 2024, 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 29.2 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 992 billion U.S. dollars in 2024.

Economic growth, quarterly in China, September, 2025 The most recent value is 1.1 percent as of Q3 2025, an increase compared to the previous value of 1 percent. Historically, the average for China from Q1 2011 to Q3 2025 is 1.55 percent. The minimum of -10.5 percent was recorded in Q1 2020, while the maximum of 12.8 percent was reached in Q2 2020. | TheGlobalEconomy.com

Key information about China Nominal GDP Growth

• China Nominal GDP Growth was reported at 3.728 % in Sep 2025.
• This records a decrease from the previous number of 3.935 % for Jun 2025.
• China Nominal GDP Growth data is updated quarterly, averaging 6.741 % from Mar 1993 to Sep 2025, with 131 observations.
• The data reached an all-time high of 37.449 % in Jun 1994 and a record low of -5.321 % in Mar 2020.
• China Nominal GDP Growth data remains active status in CEIC and is reported by CEIC Data.
• The data is categorized under World Trend Plus’s Global Economic Monitor – Table: Nominal GDP: Y-o-Y Growth: Quarterly.

Key information about China Real GDP Growth

• The Gross Domestic Product (GDP) in China expanded 4.8 % YoY in Sep 2025, following a growth of 5.2 % in the previous quarter.
• Real GDP Growth YoY data in China is updated quarterly, available from Mar 1992 to Sep 2025, with an average rate of 7.1 %.
• The data reached an all-time high of 18.9 % in Mar 2021 and a record low of -6.8 % in Mar 2020.

• In the latest reports, Nominal GDP of China reached 4,953.4 USD bn in Sep 2025.
• Its GDP deflator (implicit price deflator) fell 1.0 % in Sep 2025.
• GDP Per Capita in China reached 13,306.2 USD in Dec 2024.
• Its Gross Savings Rate was measured at 43.4 % in Dec 2024.
• For Nominal GDP contributions, Investment accounted for 40.6 % in Dec 2024.
• Public Consumption accounted for 16.6 % in Dec 2024.
• Private Consumption accounted for 39.9 % in Dec 2024.

According to a median projection in October 2025, China's GDP was expected to grow by *** percent in 2025. 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 *** trillion U.S. dollars in that year. 

According to preliminary data, the agricultural sector contributed around 6.8 percent to the gross domestic product (GDP) of China in 2024, whereas 36.5 percent of the economic value added originated from the industrial sector and 54.6 percent from the service sector, respectively. The total GDP of China at current prices amounted to approximately 134.91 trillion yuan in 2024. Economic development in China The gross domestic product (GDP) serves as a primary indicator to measure the economic performance of a country or a region. It is generally defined as the monetary value of all finished goods and services produced within a country in a specific period of time. It includes all of private and public spending, government spending, investments, and net exports which are calculated as total exports minus imports. In other words, GDP represents the size of the economy.With its national economy growing at an exceptional annual growth rate of above nine percent for three decades in succession, China had become the worlds’ second largest economy by 2010, surpassing all other economies but the United States. Even though China's GDP growth has cooled down in recent years, its economy still expanded at roughly two times the pace of the United States in 2024. Breakdown of GDP in China When compared to other developed countries, the proportions of agriculture and industry in China's GDP are significantly higher. Even though agriculture is a major industry in the United States, it only accounted for about one percent of the economy in 2023. While the service sector contributed to more than 70 percent of the economy in most developed countries, it's share was considerably lower in China. This was not only due to China's lower development level, but also to the country’s focus on manufacturing and export. However, as the future limitations of this growth model become more and more apparent, China is trying to shift it's economic focus to the high-tech and service sectors. Accordingly, growth rates of the service sector have been considerably higher than in industry and agriculture in the years before the spread of the coronavirus pandemic.

The graph shows per capita gross domestic product (GDP) in China until 2024, with forecasts until 2030. In 2024, per capita GDP reached around 13,300 U.S. dollars in China. That year, the overall GDP of China had amounted to 18.7 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 2024, 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 13,300 U.S. dollars in 2024 to 18,600 U.S. dollars in 2030. 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.

The Gross Domestic Product per capita in China was last recorded at 23845.62 US dollars in 2024, when adjusted by purchasing power parity (PPP). The GDP per Capita, in China, when adjusted by Purchasing Power Parity is equivalent to 134 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.

China: Economic freedom, overall index (0-100): The latest value from 2025 is 49 index points, unchanged from 49 index points in 2024. In comparison, the world average is 60 index points, based on data from 174 countries. Historically, the average for China from 1995 to 2025 is 53 index points. The minimum value, 48 index points, was reached in 2022 while the maximum of 60 index points was recorded in 2020.

V1 dataset:Under the global framework of Shared Socioeconomic Pathways (SSPs), based on localized population and economic parameters, a Population Development Environment (PDE) model is adopted to construct population grid data for SSPs from 2020 to 2100; Using the Cobb Douglas model, construct economic data for SSPs from 2020 to 2100.The v1 dataset includes:Population grid data of the world, The Belt and Road region, and China, with a spatial resolution of 0.5°GDP grid data of the world, The Belt and Road region, and China, with a spatial resolution of 0.5 °Grid data on the output value of three industries in the Chinese region, with a spatial resolution of 0.1 °V2 dataset:Based on the data from the 7th National Population Census of China, starting from 2020, the parameters such as fertility rate, mortality rate, migration rate, and education level in the Population Development Environment (PDE) model were updated. Under the Shared Socioeconomic Pathways (SSP1-5), a new version (v2) of the total population and age and gender specific population projection dataset for China and its provinces from 2020 to 2100 was created. Based on the data from the 7th National Population Census and the 4th Economic Census of China, with 2020 as the starting year, the parameters of total factor productivity, capital stock, labor input, and capital elasticity coefficient in the Cobb Douglas model were updated. Under the shared SSP1-5, a new version (v2) of China and its provincial GDP projectiondataset from 2020 to 2100 was created.The v2 (2024 version) dataset includes:Total Population Data of China and Provinces (2020-2100)Population data by age and gender in China (2020-2100)China and Provincial GDP Data (2020-2100)

The graph shows China's share in global gross domestic product adjusted for purchasing-power-parity until 2024, with a forecast until 2030. In 2024, China's share was about 19.3 percent. China's global GDP share Due to the introduction of capitalist market principles in 1978, China's economic market began to show immense change and growth. China's real GDP growth ranged at 5.0 percent in 2024. China's per capita GDP is also expected to continue to grow, reaching 13,300 U.S. dollars in 2024. Comparatively, Luxembourg and Switzerland have some of the world’s largest GDP per capita with 141,100 U.S. dollars and 111,700 U.S. dollars, respectively, expected for 2025.China is the largest exporter and second largest importer of goods in the world and is also among the largest manufacturing economies. The country also ranges among the world's largest agricultural producers and consumers. It relies heavily on intensive agricultural practices and is the world's largest producer of pigs, chickens, and eggs. Livestock production has been heavily emphasized since the mid-1970s. China’s chemical industry has also seen growth with a heavy focus on fertilizers, plastics, and synthetic fibers. China's use of chemical fertilizers amounted to approximately 50.2 million metric tons in 2023. GDP composition in China Industry and construction account for less than 40 percent of China's GDP. Some of the major industries include mining and ore processing, food processing, coal, machinery, textiles and apparel, and consumer products. Almost half of China's output is dedicated to investment purposes. However, as the country tends to support gross output, innovation, technological advancement, and even quality are often lacking.

China Contribution to(GDP) Gross Domestic ProductGrowth: Year to Date: Secondary Industry data was reported at -0.746 % in Jun 2020. This records an increase from the previous number of -3.665 % for Mar 2020. China Contribution to(GDP) Gross Domestic ProductGrowth: Year to Date: Secondary Industry data is updated quarterly, averaging 4.942 % from Mar 1993 (Median) to Jun 2020, with 110 observations. The data reached an all-time high of 10.006 % in Mar 1993 and a record low of -3.665 % in Mar 2020. China Contribution to(GDP) Gross Domestic ProductGrowth: Year to Date: Secondary Industry 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: Contribution and Share to Growth.

China Real GDP data was reported at 25,325.130 USD bn in 2021. This records an increase from the previous number of 23,495.180 USD bn for 2020. China Real GDP data is updated yearly, averaging 7,564.497 USD bn from Dec 1990 (Median) to 2021, with 32 observations. The data reached an all-time high of 25,325.130 USD bn in 2021 and a record low of 1,652.935 USD bn in 1990. China Real GDP 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.GGI: Governance: Economic Environment and Growth: Non OECD Member: Annual.

In September 2025, the index for consumer confidence in China ranged at **** points, up from **** points in the previous month. The index dropped considerably in the first half of 2022 and performed a sideways movement during 2023 and 2024. Consumer confidence Index The consumer confidence index (CCI), also called Index of Consumer Sentiment (ICS) is a commonly used indicator to measure the degree of economic optimism among consumers. Based on information about saving and spending activities of consumers, changes in business climate and future spending behavior are being projected. The CCI plays an important role for investors, retailers, and manufacturers in their decision-making processes. However, measurement of consumer confidence varies strongly from country to country. As consumers need time to react to economic changes, the CCI tends to lag behind other indicators like the consumer price index (CPI) and the producer price index (PPI). Development in China As shown by the graph at hand, confidence among Chinese consumers picked up since mid of 2016. In October 2017, the CCI hit a record value of 127.6 index points and entered into a sideward movement. Owing to a relative stability in GDP growth, a low unemployment rate, and a steady development of disposable household income, Chinese consumers gained more confidence in the state of the national economy. Those factors also contribute to the consumers’ spending power, which was reflected by a larger share of consumption in China’s GDP. After the outbreak of the coronavirus pandemic, consumer confidence dropped quickly in the beginning of 2020, but started to recover in the second half of the year, leading to a v-shaped movement of the index in 2020.

A survey about COVID-19 impact on consumer behavior in China revealed that around ** percent of respondents were very confident that the coronavirus epidemic will be defeated in the country. In comparison, only ** percent of respondents had the same confidence level about restoring the damaged economy.