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.

Graph and download economic data for Nominal Gross Domestic Product for China (NGDPXDCCNA) from 1992 to 2024 about China and GDP.

Graph and download economic data for Real Gross Domestic Product for China (NGDPRXDCCNA) from 2011 to 2024 about China, real, and GDP.

China GDP: Gross Saving data was reported at 34,005,180.000 RMB mn in 2016. This records an increase from the previous number of 32,338,940.000 RMB mn for 2015. China GDP: Gross Saving data is updated yearly, averaging 33,172,060.000 RMB mn from Dec 2015 (Median) to 2016, with 2 observations. The data reached an all-time high of 34,005,180.000 RMB mn in 2016 and a record low of 32,338,940.000 RMB mn in 2015. China GDP: Gross Saving data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

Graph and download economic data for National Accounts: Real Gross Domestic Product for China, P.R.: Mainland (CHNNGDPRPCPPPT) from 1990 to 2029 about China, real, GDP, and rate.

China GDP: Net Current Transfers from Abroad data was reported at -63,680.000 RMB mn in 2016. This records an increase from the previous number of -79,370.000 RMB mn for 2015. China GDP: Net Current Transfers from Abroad data is updated yearly, averaging -71,525.000 RMB mn from Dec 2015 (Median) to 2016, with 2 observations. The data reached an all-time high of -63,680.000 RMB mn in 2016 and a record low of -79,370.000 RMB mn in 2015. China GDP: Net Current Transfers from Abroad data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

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.

In 2025, the United States had the largest economy in the world, with a gross domestic product of over 30 trillion U.S. dollars. China had the second largest economy, at around 19.23 trillion U.S. dollars. Recent adjustments in the list have seen Germany's economy overtake Japan's to become the third-largest in the world in 2023, while Brazil's economy moved ahead of Russia's in 2024. Global gross domestic product Global gross domestic product amounts to almost 110 trillion U.S. dollars, with the United States making up more than one-quarter of this figure alone. The 12 largest economies in the world include all Group of Seven (G7) economies, as well as the four largest BRICS economies. The U.S. has consistently had the world's largest economy since the interwar period, and while previous reports estimated it would be overtaken by China in the 2020s, more recent projections estimate the U.S. economy will remain the largest by a considerable margin going into the 2030s.The gross domestic product of a country is calculated by taking spending and trade into account, to show how much the country can produce in a certain amount of time, usually per year. It represents the value of all goods and services produced during that year. Those countries considered to have emerging or developing economies account for almost 60 percent of global gross domestic product, while advanced economies make up over 40 percent.

Graph and download economic data for National Accounts: Gross Domestic Product for China, P.R.: Hong Kong (HKGNGDPDUSD) from 2016 to 2024 about Hong Kong, China, and GDP.

China GDP: Statistical Discrepancy data was reported at 10.000 RMB mn in 2016. This records an increase from the previous number of -0.007 RMB mn for 2015. China GDP: Statistical Discrepancy data is updated yearly, averaging 0.000 RMB mn from Dec 1980 (Median) to 2016, with 37 observations. The data reached an all-time high of 5,783.892 RMB mn in 1981 and a record low of -0.007 RMB mn in 2015. China GDP: Statistical Discrepancy data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

Graph and download economic data for Balance of Payments: Total Net Current Account for China, P.R.: Mainland (CHNBCAGDPBP6PT) from 1997 to 2029 about current account, BOP, China, and Net.

In 2024, the budget balance in relation to the gross domestic product (GDP) in China stood at approximately -7.34 percent. Between 1982 and 2024, the figure dropped by around 7.56 percentage points, though the decline followed an uneven course rather than a steady trajectory. The budget balance is forecast to decline by about 0.77 percentage points from 2024 to 2030, fluctuating as it trends downward.The indicator describes the general government net lending / borrowing, which is calculated as revenue minus total expenditure. The International Monetary Fund defines the general government expenditure as consisting of total expenses and the net acquisition of nonfinancial assets. The general government revenue consists of the revenue from taxes, social contributions, grants receivable, and other revenue.

China GDP: Gross National Disposable Income data was reported at 73,996,190.000 RMB mn in 2016. This records an increase from the previous number of 68,565,590.000 RMB mn for 2015. China GDP: Gross National Disposable Income data is updated yearly, averaging 71,280,890.000 RMB mn from Dec 2015 (Median) to 2016, with 2 observations. The data reached an all-time high of 73,996,190.000 RMB mn in 2016 and a record low of 68,565,590.000 RMB mn in 2015. China GDP: Gross National Disposable Income data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

This study examines the determinants influencing the likelihood of Sub-Saharan African (SSA) countries seeking assistance from the International Monetary Fund (IMF). The IMF, as a global institution, aims to promote sustainable growth and prosperity among its member countries by supporting economic strategies that foster financial stability and collaboration in monetary affairs. Utilising panel-probit regression, this study analyses data from thirty-nine SSA countries spanning from 2000 to 2022, focusing on twelve factors: Current Account Balance (CAB), inflation, corruption, General Government Net Lending and Borrowing (GGNLB), General Government Gross Debt (GGGD), Gross Domestic Product Growth (GDPG), United Nations Security Council (UNSC) involvement, regime types (Closed Autocracy, Electoral Democracy, Electoral Autocracy, Liberal Democracy) and China Loan. The results indicate that corruption and GDP growth rate have the most significant influence on the likelihood of SSA countries seeking IMF assistance. Conversely, factors such as CAB, UNSC involvement, LD and inflation show inconsequential effects. Notable, countries like Sudan, Burundi, and Guinea consistently rank high in seeking IMF assistance over various time frames within the observed period. Sudan emerges with a probability of more than 44% in seeking IMF assistance, holding the highest ranking. Study emphasises the importance of understanding SSA region rankings and the variability of variables for policymakers, investors, and international organisations to effectively address economic challenges and provide financial assistance.

China GDP: Gross Capital Formation data was reported at 32,972,720.000 RMB mn in 2016. This records an increase from the previous number of 31,283,571.669 RMB mn for 2015. China GDP: Gross Capital Formation data is updated yearly, averaging 3,039,663.769 RMB mn from Dec 1980 (Median) to 2016, with 37 observations. The data reached an all-time high of 32,972,720.000 RMB mn in 2016 and a record low of 162,313.102 RMB mn in 1980. China GDP: Gross Capital Formation data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: by Expenditure: Annual.

China GDP: Linked Series data was reported at 126,058,207.463 RMB mn in 2023. This records an increase from the previous number of 120,472,395.262 RMB mn for 2022. China GDP: Linked Series data is updated yearly, averaging 24,476,539.927 RMB mn from Dec 1990 (Median) to 2023, with 34 observations. The data reached an all-time high of 126,058,207.463 RMB mn in 2023 and a record low of 1,887,286.883 RMB mn in 1990. China GDP: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s China – Table CN.World Bank.WDI: Gross Domestic Product: Nominal. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years. Data are in current local currency.;World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.;;

China CN:(GDP) Gross Domestic ProductVolume Index data was reported at 155.882 2010=100 in 2016. This records an increase from the previous number of 146.094 2010=100 for 2015. China CN:(GDP) Gross Domestic ProductVolume Index data is updated yearly, averaging 19.454 2010=100 from Dec 1970 (Median) to 2016, with 47 observations. The data reached an all-time high of 155.882 2010=100 in 2016 and a record low of 3.073 2010=100 in 1970. China CN:(GDP) Gross Domestic ProductVolume Index data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s China – Table CN.IMF.IFS: Gross Domestic Product: Deflator and Volume Index: Annual.

Graph and download economic data for Balance of Payments: Total Net Current Account for China, P.R.: Hong Kong (HKGBCAGDPBP6PT) from 1990 to 2029 about Hong Kong, current account, BOP, China, and Net.

By the year 2030, it is projected that China will eclipse the United States and have the largest gross domestic product (GDP) in the world, at 31.7 trillion U.S. dollars. The United States is projected to have the second largest GDP, at 22.9 trillion U.S. dollars.

What is gross domestic product?

Gross domestic product, or GDP, is an economic measure of a country’s production in time. It includes all goods and services produced by a country and is used by economists to determine the health of a country’s economy. However, since GDP just shows the size of an economy and is not adjusted for the country’s size, this can make direct country comparisons complicated.

The growth of the global economy

Currently, the United States has the largest GDP in the world, at 20.5 trillion U.S. dollars. China has the second largest GDP, at 13.4 trillion U.S. dollars. In the coming years, production will become faster and more global, which will help to grow the global economy.

The database used includes annual frequency data for 43 countries, defined by the IMF as 24 advanced countries and 19 emerging countries, for the years 1992-2018.The database contains the fiscal stress variable and a set of variables that can be classified as follows: macroeconomic and global economy (interest rates in the US, OECD; real GDP in the US, y-o-y, OECD; real GDP in China, y-o-y, World Bank; oil price, y-o-y, BP p.l.c.; VIX, CBOE; real GDP, y-o-y, World Bank, OECD, IMF WEO; GDP per capita in PPS, World Bank); financial (nominal USD exchange rate, y-o-y, IMF IFS; private credit to GDP, change in p.p., IMF IFS, World Bank and OECD); fiscal (general government balance, % GDP, IMF WEO; general government debt, % GDP, IMF WEO, effective interest rate on the g.g. debt, IMF WEO); competitiveness and domestic demand (currency overvaluation, IMF WEO; current account balance, % GDP, IMF WEO; share in global exports, y-o-y, World Bank, OECD; gross fixed capital formation, y-o-y, World Bank, OECD; CPI, IMF IFS, IMF WEO; real consumption, y-o-y, World Bank, OECD); labor market (unemployment rate, change in p.p., IMF WEO; labor productivity, y-o-y, ILO).In line with the convention adopted in the literature, the fiscal stress variable is a binary variable equal to 1 in the case of a fiscal stress event and 0 otherwise. In more recent literature in this field, the dependent variable tends to be defined broadly, reflecting not only outright default or debt restructuring, but also less extreme events. Therefore, following Baldacci et al. (2011), the definition used in the present database is broad, and the focus is on signalling fiscal stress events, in contrast to the narrower event of a fiscal crisis related to outright default or debt restructuring. Fiscal problems can take many forms; in particular, some of the outright defaults can be avoided through timely, targeted responses, like support programs of international institutions. The fiscal stress variable is shifted with regard to the other variables: crisis_next_year – binary variable shifted by 1 year, all years of a fiscal stress coded as 1; crisis_next_period – binary variable shifted by 2 years, all years of a fiscal stress coded as 1; crisis_first_year1 – binary variable shifted by 1 year, only the first year of a fiscal stress coded as 1; crisis_first_year2 - binary variable shifted by 2 years, only the first year of a fiscal stress coded as 1.