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 3.1 percent in 2022 and 5.4 percent in 2023. 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 5.40 percent in the first 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.

In the first quarter of 2025, the growth of the real gross domestic product (GDP) in China ranged at *** 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 **** 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 **** exajoules in 2005 to **** million in 2022.

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 3.95 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.

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.

Rio Tinto's Q4 2024 iron ore shipments saw a slight decline due to reduced demand from China, aligning with market expectations. The company's annual exports remained strong, and it continues to advance growth projects globally.

In 2024, the real gross domestic product (GDP) of Beijing municipality in China increased by *** percent from the previous year. The growth speed of the GDP in Beijing slowed down over the years.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

China's declining corn imports signal economic challenges, with reduced purchases and strategic shifts reflecting broader financial constraints.

In 2024, approximately **** million passenger cars and **** million commercial vehicles had been sold in China. Passenger vehicle sales regained growth since 2021 after three consecutive years of decline. Vehicles sales The automobile industry has been a major driving force in China’s economic momentum and, despite slowing growth, expected to continue fueling the economy. China was the world’s leading car producing country in 2023, producing approximately ** million passenger cars and claiming ******* of total global vehicle production. However, while passenger car sales in China have been skyrocketing since 2008, they have slowed somewhat since 2017. Type of vehicles During the slowdown in the vehicle sales in China, the sale of minivans, multipurpose vehicles (MPV) and sedans have slowed, but the number of SUVs sold has increased in the same year, although all sales for passenger cars started slowing down since 2017. While the gas guzzling SUV is the most popular type of passenger car in China, the production of new energy vehicles is also on the rise since the government has been promoting their use. The export value of electric passenger vehicles from China surged in recent years.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

As novel coronavirus COVID-19 spreads from China to over ** countries across the world, global economy could suffer a slowdown with no growth in the worst scenario. According to the projection, China's GDP growth would drop to *** percent when it turns into a global pandemic, which would be *** percent point less than the baseline of no virus outbreak.

The statistic shows the distribution of the workforce across economic sectors in China from 2014 to 2024. In 2024, around 22.2 percent of the workforce were employed in the agricultural sector, 29 percent in the industrial sector and 48.8 percent in the service sector. In 2022, the share of agriculture had increased for the first time in more than two decades, which highlights the difficult situation of the labor market due to the pandemic and economic downturn at the end of the year. Distribution of the workforce in China In 2012, China became the largest exporting country worldwide with an export value of about two trillion U.S. dollars. China’s economic system is largely based on growth and export, with the manufacturing sector being a crucial contributor to the country’s export competitiveness. Economic development was accompanied by a steady rise of labor costs, as well as a significant slowdown in labor force growth. These changes present a serious threat to the era of China as the world’s factory. The share of workforce in agriculture also steadily decreased in China until 2021, while the agricultural gross production value displayed continuous growth, amounting to approximately 7.8 trillion yuan in 2021. Development of the service sector Since 2011, the largest share of China’s labor force has been employed in the service sector. However, compared with developed countries, such as Japan or the United States, where 73 and 79 percent of the work force were active in services in 2023 respectively, the proportion of people working in the tertiary sector in China has been relatively low. The Chinese government aims to continue economic reform by moving from an emphasis on investment to consumption, among other measures. This might lead to a stronger service economy. Meanwhile, the size of the urban middle class in China is growing steadily. A growing number of affluent middle class consumers could promote consumption and help China move towards a balanced economy.

Inflation Rate in China increased to 0.10 percent in June from -0.10 percent in May of 2025. This dataset provides - China Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2023, China's labor force amounted to approximately 772.2 million people. The labor force in China indicated a general decreasing trend in recent years. As both the size of the population in working age and the share of the population participating in the labor market are declining, this downward trend will most likely persist in the foreseeable future. A country’s labor force is defined as the total number of employable people and incorporates both the employed and the unemployed population. Population challenges for China One of the reasons for the shrinking labor force is the Chinese one-child policy, which had been in effect for nearly 40 years, until it was revoked in 2016. The controversial policy was intended to improve people’s living standards and optimize resource distribution through controlling the size of China’s expanding population. Nonetheless, the policy also led to negative impacts on the labor market, pension system and other societal aspects. Today, China is becoming an aging society. The increase of elderly people and the lack of young people will become a big challenge for China in this century. Employment in China Despite the slowing down of economic growth, China’s unemployment rate has sustained a relatively low rate. Complete production chains and a well-educated labor force make China’s labor market one of the most attractive in the world. Working conditions and salaries in China have also improved significantly over the past years. Due to China’s leading position in terms of talent in the technology industry, the country is now attracting investment from some of the world’s leading companies in the high-tech sector.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

The 14th Five-Year Plan stated that China should accelerate green development and promote a comprehensive green transition in economic and social development. As China’s economic growth slows, green development becomes greatly significant for the high-quality development of the economy. Based on China’s provincial panel data from 2005 to 2021, this study applies fixed effects model and mediating effect model to explore the influence of the government environmental investment on green development. The results indicate that (1) the government environmental investment was conducive to green development, but such effect weakened with time. (2) The government environmental investment indirectly promoted green development through the application of green patents and economic agglomeration. (3) The promotional effect of the government environmental investment varied according to region and time. Specifically, investment exerted the most significant effect on the green development of eastern China, which became more evident after 2015. The government should promote green development by implementing long-term assessment and accountability mechanisms, expanding the scale of economic agglomeration, improving the efficiency of the application of green patents, and improving the accuracy of environmental investment.

In 2023, the gross domestic product (GDP) of Shenzhen city in China increased by 6.0 percent compared to the previous year. Located next to Hong Kong, Shenzhen ranked first for GDP in the Guangdong-Hong Kong-Macao Greater Bay Area. The GDP growth of Shenzhen slowed down continuously in the past years.

The role of developing countries is very important in dealing with global climate change because even the full elimination of developed country emissions would not avoid global warming. While the industrialized countries are urging big emitting developing countries (e.g., China, India) to enter into mandatory targets to reduce their GHG emissions, they are arguing against any quantified commitments in the near future. This issue is at the heart of the ongoing negotiations. One approach that developing countries are currently exploring is the implementation of GHG mitigation activities that do not impede their expected economic growth (i.e., pursue a strategy of low carbon economic growth) or implementation of so called win-win options for GHG mitigation. The WBG has launched studies in the six big emitting client countries (e.g., China, India, Mexico, Brazil, South Africa and Indonesia) to identify options for low carbon growth. While these studies are at different levels of development, none of these studies are expected to answer the following questions: (i) what level of GHG mitigation can these and other developing countries achieve without slowing down their expected economic growth? and how much would this mitigation contribute in meeting the ultimate objective of the UNFCCC? (ii) Even if the low carbon growth scenarios do not harm expected economic growth, how fair are they from a social perspective? Do these scenarios reduce income inequality and poverty? How would these scenarios impact low income households? (iii) If the win-win or low carbon growth scenarios do not result in significant contributions in meeting the ultimate objective of the UNFCCC, what would be economic impacts of more stringent measures to reduce GHG emissions? How would such measures impact the economic growth, income distribution and poverty? (iv) How would these results change if climate change adaptation is also taken into consideration? Answering these questions is enormously important to client countries in defining their short and long-term strategies to address the global climate change.

Snapshot img

The electrical discharge machine market share is expected to increase by USD 1.53 billion from 2020 to 2025, at a CAGR of 7.65%.

This electrical discharge machine market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers market segmentation by end-user (machine shop, aerospace and defense, medical, automotive, and others) and geography (APAC, North America, Europe, South America, and MEA). The electrical discharge machine market report also offers information on several market vendors, including Beaumont Machine, Belmont Equipment and Technologies, Ching Hung Machinery and Electric Industrial Co. Ltd., Georg Fischer Ltd., Makino Milling Machine Co. Ltd., Mitsubishi Electric Corp., Novick Digital Equipment Co. Ltd., ONA Electroerosion SA, Sodick Inc., and Yihawjet Enterprises Co. Ltd. among others.

What will the Electrical Discharge Machine Market Size be During the Forecast Period?

Download the Free Report Sample to Unlock the Electrical Discharge Machine Market Size for the Forecast Period and Other Important Statistics

Electrical Discharge Machine Market: Key Drivers and Trends

Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The rise in automation: industrial revolution 4.0 is notably driving the electrical discharge machine market growth, although factors such as slowdown in the Chinese economy may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the electrical discharge machine industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver for the Electrical Discharge Machine Market

The increasing adoption of automated technologies is one of the key drivers for the electrical discharge machine market share growth. Companies are increasingly resorting to automation to ensure quality standards, which is creating the demand for electrical discharge machines. Many companies implement process automation to enhance their productivity and increase profit margins. Considering these factors, companies benefit due to the enhancement in overall efficiency that automation brings. Automation ensures that a company can save on labor costs and increase efficiency.

Key Challenge for the Electrical Discharge Machine Market

The slowdown in the Chinese economy is one of the key challenges for the electrical discharge machine market vendors. The recent slowdown that the Chinese economy will have an adverse effect on the global electrical discharge machine market. The slowdown is mainly attributed to the sluggish performance of the country's real estate sector with huge manufacturing overcapacity. The adversely affected manufacturing sector's problem is that of excess production capacity. Although the country is recovering from the impact of COVID-19 on the manufacturing industry, the slowdown in the growth of the sector in China will have an adverse impact on the global electrical discharge machine market.

This electrical discharge machine market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Who are the Major Electrical Discharge Machine Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

Beaumont Machine
Belmont Equipment and Technologies
Ching Hung Machinery and Electric Industrial Co. Ltd.
Georg Fischer Ltd.
Makino Milling Machine Co. Ltd.
Mitsubishi Electric Corp.
Novick Digital Equipment Co. Ltd.
ONA Electroerosion SA
Sodick Inc.
Yihawjet Enterprises Co. Ltd.

This statistical study of the electrical discharge machine market encompasses successful business strategies deployed by the key vendors. The electrical discharge machine market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The electrical discharge machine market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Which are the Key Regions for Electrical Discharge Machine Market?

For more insights on the market share of various region