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.

The Gross Domestic Product (GDP) in China was worth 17794.78 billion US dollars in 2023, according to official data from the World Bank. The GDP value of China represents 16.88 percent of the world economy. This dataset provides - China GDP - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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 statistic shows the growth rate of the real gross domestic product (GDP) in the United States from 2019 to 2023, with projections up until 2029. 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. In 2023, the growth of the real gross domestic product in the United States was around 2.53 percent compared to the previous year. See U.S. GDP per capita and the US GDP for more information.

Real gross domestic product (GDP) of the United States

The gross domestic product (GDP) of a country is a crucial economic indicator, representing the market value of the total goods and services produced and offered by a country within a year, thus serving as one of the indicators of a country’s economic state. The real GDP of a country is defined as its gross domestic product adjusted for inflation.

An international comparison of economic growth rates has ranked the United States alongside other major global economic players such as China and Russia in terms of real GDP growth. With further growth expected during the course of the coming years, as consumer confidence continues to improve, experts predict that the worst is over for the United States economy.

A glance at US real GDP figures reveals an overall increase in growth, with sporadic slips into decline; the last recorded decline took place in Q1 2011. All in all, the economy of the United States can be considered ‘well set’, with exports and imports showing positive results. Apart from this fact, the United States remains one of the world’s leading exporting countries, having been surpassed only by China and tailed by Germany. It is also ranked first among the top global importers. Despite this, recent surveys revealing Americans’ assessments of the U.S. economy have yielded less optimistic results. Interestingly enough, this consensus has been mutual across the social and environmental spectrum. On the other hand, GDP is often used as an indicator for the standard of living in a country – and most Americans seem quite happy with theirs.

In 2024, the annual real growth of the gross domestic product (GDP) in different regions in China varied from around 6.3 percent in Tibet autonomous region to 2.3 percent in Shanxi province. The average national GDP growth ranged at 5.0 percent in 2024.

In 2022, China’s level of total investment reached around 43.5 percent of the gross domestic product (GDP). This value is expected to decrease gradually to 41.7 percent until 2028. Final consumption accounted for only 53.2 percent in 2022.

International comparison of total investments

The GDP of a country can be calculated by the expenditure approach, which sums up final consumption (private and public), total investment, and net exports. The ratio of consumption to investment may vary greatly between different countries.

Matured economies normally consume a larger share of their economic output. In the U.S. and many European countries, total investment ranges roughly at only 20 to 25 percent of the GDP. In comparison, some emerging economies reached levels of 30 to 40 percent of investment during times of rapid economic development.

Level of total investment in China

China is among the countries that spend the highest share of their GDP on investments. Between 1980 and 2000, 30 to 40 percent of its economic output were invested, roughly on par with South Korea or Japan. While the latter’s investment spending ratio decreased in later years, China’s even grew, especially after the global financial crisis, peaking at staggering 47 percent of GDP in 2011.

However, returns on those investments declined year by year, indicated by lower GDP growth rates. This resulted in a quickly growing debt burden, which reached nearly 300 percent of the GDP in 2022, up from only 139 percent in 2008. The Chinese government defined the goal to shift to consumption driven growth, but the transformation takes longer than expected.

Unemployment Rate in China increased to 5.40 percent in February from 5.20 percent in January of 2025. This dataset provides - China Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The statistic shows the growth rate of the real gross domestic product (GDP) in Japan from 2019 to 2023, with projections up until 2029. In 2023, Japan's GDP increased by 1.68 percent compared to the previous year. For comparison, the GDP growth rate of China had reached about 8.45 percent that same year.Gross domestic product growth rate in JapanGDP serves as one of the most heavily relied upon indicators to gauge the state and health of a country’s economy. GDP is the total market value of all final goods and services that have been produced within a nation’s borders in a given period of time, usually a year. GDP figures allow a more fundamental understanding of a country’s economy. Year-on-year GDP growth acts as a helpful and clear sign of the direction in which a country is moving in economic terms. Real GDP is especially useful and insightful as it takes price changes (inflation and deflation) into account.The gross domestic product growth rate in Japan has been shaky since the recession of 2008 struck the world economy like a bolt out of the blue and Japan is still yet to gain a solid foothold. Despite its ongoing financial predicament however, Japan remains one of the world’s most highly developed economies. The economy of Japan is the third largest worldwide by nominal GDP and the nation has a very active manufacturing sector. It is active in the auto manufacturing sector, the third largest in the world after the United States and China, and has an electronics industry that is counted among the worlds most innovative. Japan can boast many titles, but perhaps the most significant to its future stability is that which relates to its astronomical national debts, currently running at over 200 percent of GDP, roughly 10.5 trillion US dollars.

In 2023, the real gross domestic product (GDP) of Shanghai municipality in China increased by around 5.0 percent from the previous year. Shanghai is the most populous city in China and has the largest GDP of all Chinese cities. It is located in Eastern China on the southern estuary at the mouth of the Yangtze river.

Development of GDP growth in Shanghai

As a bridgehead to global markets and a forerunner in market opening, Shanghai experienced a decades long economic boom, which massively changed the shape of the city. Economic growth rates had double digits for more than two decades since 1992 and were well above the Chinese national average. This changed fundamentally with the global financial crisis. In 2008, the growth rate fell below ten percent and gradually declined thereafter. Growth rates now got closer to the national average of GDP growth. While the economic development in Shanghai has already reached a high level, other regions in China are catching up, and growth rates in many inland regions of China are now higher than in Shanghai. This is especially true on a city level, with many lower-tier cities experiencing higher growth rates than Shanghai.

Sector distribution of GDP growth

Upon closer examination of the distribution of GDP across economic sectors, it becomes obvious that the service sector of the economy exhibited the highest growth rates in most of the recent years. In 2023, services already accounted for more than 75 percent of the value added to the GDP, which is far above the national average. In contrast, the industrial sector, which had once been of great importance to Shanghai's economy, is losing momentum and its share in total economic output is shrinking constantly. Financial intermediation and information industries were branches in the service sector that displayed the fastest growth rates in recent years.

Domestic credit to private sector by banks (% of GDP) in China was reported at 195 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Domestic credit to private sector by banks (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

Lubricating Oil Additives Market Outlook

The global lubricating oil additives market size was valued at approximately $16 billion in 2023, with projections indicating a growth to around $24 billion by 2032, reflecting a steady compound annual growth rate (CAGR) of 4.5%. The primary drivers of this market expansion include the increasing demand for high-performance lubricants across various industrial sectors, heightened environmental regulations mandating more efficient automotive fluids, and burgeoning technological advancements in lubricant formulations. As industries continue to evolve and emphasize sustainability, lubricating oil additives are becoming crucial in enhancing the performance and longevity of machinery and automotive engines, propelling their market growth significantly.

One of the key factors driving the growth of the lubricating oil additives market is the rising global demand for automotive vehicles, particularly in developing economies. With the growing middle class and increasing urbanization, there is a significant upsurge in the ownership of passenger and commercial vehicles, which in turn fuels the demand for high-quality lubricants that ensure optimal engine performance and longevity. Furthermore, as automotive manufacturers strive to meet stringent emission norms and fuel economy standards, the role of lubricating oil additives becomes pivotal in achieving the desired efficiency and emissions targets, thereby driving market growth.

Technological advancements in the formulation of lubricating oil additives are another crucial growth factor. Innovations in additive chemistry have led to the development of products with enhanced performance characteristics, such as improved oxidation resistance, thermal stability, and friction reduction. These advancements not only extend the life of engines and machinery but also contribute to energy efficiency and reduced emissions. The increasing focus on research and development activities by key players in the industry is expected to continue driving the innovation pipeline, providing a solid foundation for market growth over the forecast period.

Environmental and regulatory factors are also significantly contributing to the growth of the lubricating oil additives market. Governments worldwide are imposing stricter regulations to curb emissions and reduce environmental impact, thereby necessitating the use of advanced lubricants with enhanced performance and reduced environmental footprint. These regulations encourage the adoption of premium lubricants containing high-quality additives that comply with the latest environmental standards. As regulatory frameworks continue to tighten globally, the demand for lubricating oil additives that meet these standards is expected to witness substantial growth.

From a regional perspective, the Asia Pacific region is anticipated to dominate the lubricating oil additives market due to rapid industrialization, urbanization, and the expanding automotive industry. Countries such as China and India are witnessing significant economic growth, leading to an increase in industrial activities and vehicle production, which in turn drives the demand for lubricating oil additives. Additionally, the presence of numerous manufacturing facilities and rising investments in infrastructure development in this region further bolster market growth. North America and Europe are also key markets, driven by technological advancements and stringent environmental regulations.

The aftermarket for automotive lubricants is experiencing a notable transformation, driven by the evolving needs of consumers and advancements in automotive technology. As vehicles become more sophisticated, the demand for specialized lubricants that cater to specific engine requirements is on the rise. The Automotive Lubricants Aftermarket plays a crucial role in ensuring that vehicles maintain optimal performance and longevity, even as they age. This segment is characterized by a diverse range of products designed to meet the varying needs of different vehicle types and models. With the increasing focus on vehicle maintenance and performance enhancement, the aftermarket is poised for significant growth, offering opportunities for innovation and expansion in the lubricants industry.

Function Analysis

In the lubricating oil additives market, the function segment plays a vital role, with dispersants, detergents, anti-wear agents, antioxidants, and viscosity index improvers being the prima

Passenger Vehicle Brake Calipers Market Outlook

The global passenger vehicle brake calipers market, valued at approximately USD 13.5 billion in 2023, is anticipated to witness robust growth, reaching USD 21.9 billion by 2032, with a CAGR of 5.5% during the forecast period. This growth is primarily driven by the increasing demand for passenger vehicles, coupled with advancements in braking technology that enhance vehicle safety and efficiency. The burgeoning automotive industry, combined with evolving regulations focused on vehicle safety and emissions, is propelling the demand for high-performance brake calipers. These components are critical in ensuring the safety and performance of passenger vehicles, thereby underpinning their significance in the automotive supply chain.

One of the primary growth factors for the passenger vehicle brake calipers market is the escalating production and sales of passenger vehicles globally. With rising disposable income, especially in emerging economies, there is a notable shift towards personal vehicle ownership. Urbanization in countries like India and China is contributing significantly to the increase in the number of passenger vehicles on the road, thus boosting the need for efficient braking systems. Additionally, the growing awareness of vehicle safety standards is pushing manufacturers to integrate advanced brake systems into passenger vehicles, thereby increasing the demand for high-quality brake calipers.

Technological advancements and innovation in materials used for manufacturing brake calipers are also crucial growth drivers. There is a growing trend towards lightweight vehicles to improve fuel efficiency and reduce emissions. As a result, manufacturers are increasingly using materials such as aluminum and stainless steel for brake calipers, which offer a favorable strength-to-weight ratio. Furthermore, the development of smart braking solutions that integrate electronic and mechanical systems is creating new opportunities in the market. These advancements not only enhance the performance of the braking system but also align with the industry's shift towards electric and hybrid vehicles, which require more efficient braking solutions.

Another significant factor contributing to market growth is the increasing focus on aftermarket sales. As the global vehicle fleet ages, the replacement demand for brake calipers is expected to rise. The aftermarket segment provides a cost-effective solution for vehicle owners who need to replace worn-out parts, thereby creating a substantial revenue stream for manufacturers. In addition, the rising trend of vehicle customization and performance enhancement is boosting the demand for specialized brake calipers in the aftermarket. This trend is particularly prevalent in North America and Europe, where consumers are more inclined towards customizing their vehicles to enhance performance and aesthetics.

The Brake Caliper is a crucial component in the braking system of passenger vehicles, playing a vital role in converting hydraulic pressure into the mechanical force needed to stop the vehicle. As the automotive industry progresses towards more advanced and efficient braking solutions, the design and functionality of brake calipers are evolving to meet these demands. Modern brake calipers are engineered to provide enhanced clamping force and heat dissipation, ensuring optimal performance even under extreme driving conditions. This evolution is particularly significant as manufacturers strive to improve vehicle safety and performance, making brake calipers an essential focus in the development of next-generation braking systems.

Regionally, the Asia Pacific is expected to dominate the passenger vehicle brake calipers market, driven by the massive production and consumption of vehicles in countries such as China, India, and Japan. The region's rapid economic growth and urbanization are leading to increased vehicle ownership, thereby boosting the demand for brake calipers. In North America, the market is supported by a well-established automotive industry and a high demand for technologically advanced vehicle components. Meanwhile, Europe is experiencing growth due to stringent regulations regarding vehicle safety and emissions, which are encouraging the adoption of advanced braking systems. The Middle East & Africa and Latin America markets are also expected to witness steady growth, driven by increasing vehicle sales and economic development.

Product Type Analysis

The

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.

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Wasabi Market Size 2025-2029

The wasabi market size is forecast to increase by USD 422.2 million at a CAGR of 9.9% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the increasing awareness of its health benefits. Wasabi, a pungent condiment commonly used in Japanese cuisine, is known for its anti-bacterial and anti-inflammatory properties, making it a popular choice for health-conscious consumers. This trend is further amplified by the rising sales of wasabi online, making it more accessible to a broader audience. This income growth, coupled with the rising demand for healthier food options, will boost the consumption of wasabi in food preparations such as noodles and soups.
However, it is essential to note that excessive use of wasabi can lead to side effects such as heartburn, sweating, and headaches. This presents a challenge for market players to strike a balance between catering to consumer demand and ensuring responsible consumption.
Companies seeking to capitalize on this market opportunity must focus on innovation, sustainable sourcing, and consumer education to differentiate themselves and navigate these challenges effectively. Additionally, collaborations with health and wellness brands and influencers can help expand the reach and appeal of wasabi products to a wider audience.

What will be the Size of the Wasabi Market During the Forecast Period?

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Wasabi, the Japanese horseradish, has experienced a significant rise in popularity due to increased awareness of its health benefits. This peppery condiment, known for its pungent and distinctively hot flavor, is gaining recognition beyond sushi and sashimi. The rising health awareness among consumers has led to an uptick In the consumption of wasabi. Its anti-inflammatory and anti-microbial properties make it an attractive addition to various food preparations, including noodles and soups. The isothiocyanate compounds, particularly allyl isothiocyanate, are the primary contributors to wasabi's health benefits. These compounds have been found to prevent certain cancers and treat arthritis. Wasabi extracts have shown potential In the medical field due to their antimicrobial properties, making them a valuable ingredient in various health supplements.
The peppery smell of wasabi is not only appealing to the senses but also adds to its health benefits. It is rich in vitamins and antioxidants, making it a popular choice for those seeking a healthier lifestyle. Wasabi's versatility extends beyond sushi and sashimi. It is commonly used in tempura and other Japanese dishes. Its unique taste and health benefits make it a desirable ingredient for chefs and home cooks alike. 

How is this Wasabi Industry segmented and which is the largest segment?

The research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Sauce
  Powder


Application

  Food and beverages
  Medical and nutraceuticals


Packaging

  Bottles
  Tubes
  Pouches and Sachets
  Others


Geography

  APAC

    China
    India
    Japan
    South Korea


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  South America



  Middle East and Africa

By Type Insights

The sauce segment is estimated to witness significant growth during the forecast period. The market primarily consists of the wasabi sauce segment, which holds a significant market share. American consumers favor wasabi sauce for enhancing flavors in dressings and condiments without compromising food nutrients. The increasing global interest in diverse culinary traditions, such as wasabi, is expected to propel market growth during the forecast period. The primary ingredient in wasabi sauce, offers antimicrobial properties, vitamins, antioxidants, and digestive and anti-inflammatory benefits. The nasal tingling sensation associated with authentic wasabi adds to its allure.

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The Sauce segment was valued at USD 287.60 million in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 44% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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The Asia-Pacific (APAC) region leads in wasabi consumption, with Japan being the front-runner. China and Australia follow closely. The region holds significant growth potential due to the presence of numerous untapped markets. The increasing disposable income of consumers and strong economic gr

In 2024, public spending on education in China reached 4.2 trillion yuan. Education expenditure increased continuously over recent years, but growth rates are considerably lower than ten years ago. Development of public spending on education Since the beginning of the reform era, the Chinese government attached great importance to the development of the educational sector. Besides structural reforms, public spending on education was increased considerably. However, the whole educational sector lagged far behind international standards in terms of quality as well as quantity. Public expenditure on education as a share of the national GDP, which is a common measure to compare educational systems, ranged at only around 2.5 percent in the mid-1990s. In 1993, the government announced the plan to increase educational spending to four percent of the GDP until 2000, but it took 12 more years to reach that target. However, considering that at the same time the GDP grew by double digits most of the years, the financial situation of the education sector improved greatly. This manifests itself in the substantially increased number of graduates and quality of degrees. Since achieving the four percent target in 2012, the growth of educational spending, which had reached more than 25 percent per year in the years before, was reduced to levels equaling the GDP growth. Compared to the public spending on education of developed countries, China is still at the lower range and did not reach the OECD average of around 4.8 percent of the GDP in 2018. Spending per student Even though educational spending in China improved a lot in the last decades, when calculated per student, expenditure is still far behind developed countries. While spending per student on a tertiary level of education in OECD countries averaged around 18,100 U.S. dollars in 2020, it reached only 40,700 yuan per student in China in 2023, which is less than one third. This fact sheds some light on the average quality level of the educational system in China on a general basis and reminds us that China is a huge and populous country. Of which, some elite schools in the big cities coexist with vast numbers of schools in the countryside operating on a completely different level of quality.

The statistic shows the growth rate of Australia’s real GDP from 2019 to 2023, with projections up until 2029. In 2023, GDP in Australia grew by about 2.06 percent on the previous year.

The recession-proof land down under

GDP is one of the primary indicators used to gauge the state and health of a country’s economy. It is the total market value of all final goods and services that have been produced within a country in a given period of time, usually a year. GDP figures allow us to understand a country’s economy in a clear way. Real GDP, in a similar vein, is also a very useful indicator; this is a measurement that takes prices changes (inflation and deflation) into account, therefore acting as a key indicator for economic growth.

The gross domestic product (GDP) growth rate in Australia has, for sometime, been able to get a steady foothold in the somewhat shaky post-recession world, shaky, but far from catastrophic. The annual growth rate between the 2008 and 2009 financial years, for example, a time at which the world was brought to its proverbial knees, saw growth rates down under reach to 2.49 and 1.37 percent respectively on the previous years, whereas the GDP growth rate in the United States plummeted well into the minus zone. Australia, like all other capitalist nations, is at the mercy of international markets, and when the world economy takes a hit, it would be foolish to suggest it could emerge fully unscathed. However, Australia has earned some much deserved praise and attention owing to the fact that it has managed to remain recession-free for the past twenty years. This could be thanks to its abundance of raw materials, the Australian mining boom, the fact the recession came at a time of high commodity prices and, maybe most importantly, that just under a third of its exports go to China.

Total natural resources rents (% of GDP) in China was reported at 1.7076 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Total natural resources rents (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

According to latest figures published by the National Bureau of Statistics of China, the average annual inflation rate in China ranged at around 0.2 percent in 2024 compared to the previous year. This was lower than formerly expected by the IMF. For 2025, projections by the IMF published in October 2024 expected the inflation rate to reach around 1.7 percent. The monthly inflation rate in China dropped to negative values in the second half of 2023 and remained comparatively low in 2024. Calculation of inflation The inflation rate is calculated based on the Consumer Price Index (CPI) for China. The CPI is computed using a product basket that contains a predefined range of products and services on which the average consumer spends money throughout the year. Included are expenses for groceries, clothes, rent, power, telecommunications, recreational activities, and raw materials (e.g. gas, oil), as well as federal fees and taxes. The product basked is adjusted every five years to reflect changes in consumer preference and has been updated in 2020 for the last time. The inflation rate is then calculated using changes in the CPI. As the inflation of a country is seen as a key economic indicator, it is frequently used for international comparison. China's inflation in comparison Among the main industrialized and emerging economies worldwide, China displayed comparatively low inflation in 2023 and 2024. In previous years, China's inflation ranged marginally above the inflation rates of established industrialized powerhouses such as the United States or the European Union. However, this changed in 2021, as inflation rates in developed countries rose quickly, while prices in China only increased moderately. According to IMF estimates for 2024, Zimbabwe was expected to be the country with the highest inflation rate, with a consumer price increase of about 561 percent compared to 2023. In 2023, Turkmenistan had the lowest price increase worldwide with prices actually decreasing by about 1.7 percent.

In February 2025, the monthly inflation rate in China ranged at -0.7 percent compared to the same month in the previous year. Inflation had peaked at 2.8 percent in September 2022, but eased thereafter. The annual average inflation rate in China ranged at 0.2 percent in 2024. China’s inflation in comparison The term inflation means the devaluation of money caused by a permanent increase of the price level for products such as consumer or investment goods. The inflation rate is most commonly measured by the Consumer Price Index. The Consumer Price Index shows the price development for private expenses based on a basket of products representing the consumption of an average consumer household. Compared to other major economies in the world, China has a moderate and stable level of inflation. The inflation in China is on average lower than in other BRIC countries, although China enjoys higher economic growth rates. Inflation rates of developed regions in the world had for a long time been lower than in China, but that picture changed fundamentally during the coronavirus pandemic with most developed countries experiencing quickly rising consumer prices. Regional inflation rates in China In China, there is a regional difference in inflation rates. As of August 2023, Anhui province experienced the highest CPI growth, while Ningxia reported the lowest. In recent years, inflation rates in rural areas have often been slightly higher than in the cities. According to the National Bureau of Statistics of China, inflation was mainly fueled by a surge in prices for food and micellaneous items and services in recent months. The price gain in other sectors was comparatively slight. Transport prices have decreased recently, but had grown significantly in 2021 and 2022.