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.

The Gross Domestic Product (GDP) in China expanded 1.60 percent in the fourth quarter of 2024 over the previous quarter. This dataset provides - China GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The Gross Domestic Product per capita in China was last recorded at 12175.20 US dollars in 2023. The GDP per Capita in China is equivalent to 96 percent of the world's average. This dataset provides - China GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

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.

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.

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.

China GDP: Year to Date: TI: Wholesale and Retail Trade data was reported at 13,798.092 RMB bn in Dec 2024. This records an increase from the previous number of 9,964.430 RMB bn for Sep 2024. China GDP: Year to Date: TI: Wholesale and Retail Trade data is updated quarterly, averaging 1,249.090 RMB bn from Dec 1991 (Median) to Dec 2024, with 133 observations. The data reached an all-time high of 13,798.092 RMB bn in Dec 2024 and a record low of 53.680 RMB bn in Mar 1992. China GDP: Year to Date: TI: Wholesale and Retail Trade 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: Quarterly.

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.

China GDP Index: YoY: Year to Date: TI: Wholesale and Retail Trade data was reported at 105.500 Prev Year=100 in Dec 2024. This records an increase from the previous number of 105.400 Prev Year=100 for Sep 2024. China GDP Index: YoY: Year to Date: TI: Wholesale and Retail Trade data is updated quarterly, averaging 108.700 Prev Year=100 from Dec 1991 (Median) to Dec 2024, with 133 observations. The data reached an all-time high of 127.500 Prev Year=100 in Mar 2021 and a record low of 83.400 Prev Year=100 in Mar 2020. China GDP Index: YoY: Year to Date: TI: Wholesale and Retail Trade 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.AB: Gross Domestic Product: Index: Quarterly.

China GDP: TI: Accommodation and Catering Trade data was reported at 734.514 RMB bn in Dec 2024. This records an increase from the previous number of 659.710 RMB bn for Sep 2024. China GDP: TI: Accommodation and Catering Trade data is updated quarterly, averaging 160.930 RMB bn from Mar 1992 (Median) to Dec 2024, with 132 observations. The data reached an all-time high of 734.514 RMB bn in Dec 2024 and a record low of 12.720 RMB bn in Mar 1992. China GDP: TI: Accommodation and Catering Trade 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: Quarterly.

China GDP Index: YoY: Year to Date: TI: Accommodation and Catering Trade data was reported at 106.400 Prev Year=100 in Dec 2024. This records an increase from the previous number of 106.300 Prev Year=100 for Sep 2024. China GDP Index: YoY: Year to Date: TI: Accommodation and Catering Trade data is updated quarterly, averaging 108.168 Prev Year=100 from Dec 1991 (Median) to Dec 2024, with 133 observations. The data reached an all-time high of 147.600 Prev Year=100 in Mar 2021 and a record low of 61.400 Prev Year=100 in Mar 2020. China GDP Index: YoY: Year to Date: TI: Accommodation and Catering Trade 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.AB: Gross Domestic Product: Index: Quarterly.

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.

Gross savings (% of GDP) in China was reported at 43.61 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - Gross savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on March of 2025.

China GDP: Year to Date: TI: Accommodation and Catering Trade data was reported at 2,472.885 RMB bn in Dec 2024. This records an increase from the previous number of 1,738.370 RMB bn for Sep 2024. China GDP: Year to Date: TI: Accommodation and Catering Trade data is updated quarterly, averaging 312.610 RMB bn from Dec 1991 (Median) to Dec 2024, with 133 observations. The data reached an all-time high of 2,472.885 RMB bn in Dec 2024 and a record low of 12.720 RMB bn in Mar 1992. China GDP: Year to Date: TI: Accommodation and Catering Trade 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: Quarterly.

GDP from Services in China increased to 765582.50 CNY Hundred Million in the fourth quarter of 2024 from 561501.80 CNY Hundred Million in the third quarter of 2024. This dataset provides - China Gdp From Services- actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2024, the industrial sector generated around 30.1 percent of China's GDP. It was by far the largest contributor, followed by the wholesale and retail industry that was responsible for 10.2 percent and the financial sector that produced 7.3 percent of the country's economic output. Since China is the second-largest economy in the world, the industrial sector’s output alone exceeded the entire economy of Germany. China’s export and investment-driven economy China economic development of the early 2000s was mainly driven by investments and exports. A country's gross domestic product (GDP) consists of three parts: Consumption, investments, and net exports. Typically, emerging economies rely mainly on investments and exports for growing their economy and China was no exception. By the end of the 2010s, investments fueled more than 40 percent of China's GDP and exports were responsible for almost another 20 percent. In comparison to that, in most developed economies, investments make up only 20 percent of the economic output. Instead, the main economic driver is consumption. The economic structure in China created a huge industrial sector. For instance, China was the biggest steel exporter, the leading merchandise exporter, and exported more than a third of global household goods. Great push towards transformation In early 2018, the Chinese government proclaimed that the country's economy had reached a new development stage where consumption and services replaced investment and manufacturing as the main driver of economic growth. The fear of the middle-income trap and changing demographics were the main reasons for Beijing's emphasis on economic transformation. Although incomes in China had not stagnated, policymakers attempted to preempt “getting stuck” by steering the economy towards high-quality growth and consumption-focus. Furthermore, a society that was older and had a higher share of middle-class population had different requirements to the economy. In the case of a successful transformation, China's economy would become more similar to those of developed nations. For instance, the financial sector was the largest contributor to the United States economy. In the case of Germany, the service sector generates the largest share of gross domestic product.

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.

Hong Kong GDP: IS: UK: IP data was reported at 1,238.000 HKD mn in 2016. This records an increase from the previous number of 1,185.000 HKD mn for 2015. Hong Kong GDP: IS: UK: IP data is updated yearly, averaging 1,237.500 HKD mn from Dec 2009 (Median) to 2016, with 8 observations. The data reached an all-time high of 1,529.000 HKD mn in 2012 and a record low of 373.000 HKD mn in 2009. Hong Kong GDP: IS: UK: IP data remains active status in CEIC and is reported by Census and Statistics Department. The data is categorized under Global Database’s Hong Kong – Table HK.A173: GDP: Trade in Services: MSITS 2010: Current Price: by Major Trading Partner and Service Component (Annual).

China's share of imports in gross domestic product (GDP) was about 13.6 percent in 2024. The total gross domestic product amounted to approximately 135 trillion yuan that year. Import development in China Trade is essential to modern economies. The imports-to-GDP ratio measures a country’s openness to inward trade. One similar indicator is the trade-to-GDP-ratio, which is the sum of exports and imports divided by GDP. It is used to measure a country’s integration in the world economy. As of 2023, China was the second largest merchandise importing nation worldwide, only next to the United States. China’s imports of goods had nearly doubled over the last decade. In 2010, the import value stood at around 1.4 trillion U.S. dollars, whereas in 2024, China brought forth approximately 2.5 trillion U.S. dollars worth of imported commodities, its main import goods being integrated circuits, crude oil, and iron ore. Meanwhile, the monetary value of services imported to China, although much lower than merchandise imports, also increased steadily. Where does China import from? In 2024, ASEAN was the leading import partner for China, with imports amounting to approximately 2.81 trillion yuan. The European Union was the second largest import source providing nearly two trillion yuan worth of goods to China. In 2023, the European Union imported around 514 billion euros worth of merchandise from China, resulting in a trade deficit of roughly 291 billion euros. Trade deficits were most significant in sectors such as machinery, transport equipment and apparel manufacturing.