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.

The Gross Domestic Product (GDP) in China expanded 5.20 percent in the second 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.

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.

Hong Kong HK: GDP: Growth data was reported at 3.791 % in 2017. This records an increase from the previous number of 2.163 % for 2016. Hong Kong HK: GDP: Growth data is updated yearly, averaging 6.007 % from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 16.164 % in 1976 and a record low of -5.883 % in 1998. Hong Kong HK: GDP: Growth data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. 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.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

GDP per capita growth (annual %) in China was reported at 5.1066 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. China - GDP per capita growth (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on August of 2025.

China GDP: Growth: Final Consumption Expenditure data was reported at 7.591 % in 2017. This records a decrease from the previous number of 8.475 % for 2016. China GDP: Growth: Final Consumption Expenditure data is updated yearly, averaging 8.521 % from Dec 1996 (Median) to 2017, with 22 observations. The data reached an all-time high of 11.995 % in 1999 and a record low of 6.027 % in 2003. China GDP: Growth: Final Consumption Expenditure 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: Annual Growth Rate. Average annual growth of final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Final consumption expenditure (formerly total consumption) is the sum of household final consumption expenditure (formerly private consumption) and general government final consumption expenditure (formerly general government consumption). This estimate includes any statistical discrepancy in the use of resources relative to the supply of resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Since the beginning of the 21st century, the BRICS countries have been considered the five foremost developing economies in the world. Originally, the term BRIC was used by economists when talking about the emerging economies of Brazil, Russia, India, and China, however these countries have held annual summits since 2009, and the group has expanded to include South Africa since 2010. China has the largest GDP of the BRICS country, at 16.86 trillion U.S. dollars in 2021, while the others are all below three trillion. Combined, the BRICS bloc has a GDP over 25.85 trillion U.S. dollars in 2022, which is slightly more than the United States. BRICS economic development China has consistently been the largest economy of this bloc, and its rapid growth has seen it become the second largest economy in the world, behind the U.S.. China's growth has also been much faster than the other BRICS countries; for example, when compared with the second largest BRICS economy, its GDP was less than double the size of Brazil's in 2000, but is almost six times larger than India's in 2021. Since 2000, the country with the second largest GDP has fluctuated between Brazil, Russia, and India, due to a variety of factors, although India has held this position since 2015 (when the other two experienced recession), and it's growth rate is on track to surpass China's in the coming decade. South Africa has consistently had the smallest economy of the BRICS bloc, and it has just the third largest economy in Africa; its inclusion in this group is due to the fact that it is the most advanced and stable major economy in Africa, and it holds strategic importance due to the financial potential of the continent in the coming decades. Future developments It is predicted that China's GDP will overtake that of the U.S. by the end of the 2020s, to become the largest economy in the world, while some also estimate that India will also overtake the U.S. around the middle of the century. Additionally, the BRICS group is more than just an economic or trading bloc, and its New Development Bank was established in 2014 to invest in sustainable infrastructure and renewable energy across the globe. While relations between its members were often strained or of less significance in the 20th century, their current initiatives have given them a much greater international influence. The traditional great powers represented in the Group of Seven (G7) have seen their international power wane in recent decades, while BRICS countries have seen theirs grow, especially on a regional level. Today, the original BRIC countries combine with the Group of Seven (G7), to make up 11 of the world's 12 largest economies, but it is predicted that they will move further up on this list in the coming decades.

Hong Kong HK: GDP: Growth: Final Consumption Expenditure: Include Discrepancy data was reported at 2.010 % in 2016. This records a decrease from the previous number of 4.590 % for 2015. Hong Kong HK: GDP: Growth: Final Consumption Expenditure: Include Discrepancy data is updated yearly, averaging 5.205 % from Dec 1974 (Median) to 2016, with 43 observations. The data reached an all-time high of 13.459 % in 1977 and a record low of -4.074 % in 1998. Hong Kong HK: GDP: Growth: Final Consumption Expenditure: Include Discrepancy data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Average annual growth of final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Final consumption expenditure (formerly total consumption) is the sum of household final consumption expenditure (formerly private consumption) and general government final consumption expenditure (formerly general government consumption). This estimate includes any statistical discrepancy in the use of resources relative to the supply of resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

In May 2025, global inflation rates and central bank interest rates showed significant variation across major economies. Most economies initiated interest rate cuts from mid-2024 due to declining inflationary pressures. The U.S., UK, and EU central banks followed a consistent pattern of regular rate reductions throughout late 2024. In early 2025, Russia maintained the highest interest rate at 20 percent, while Japan retained the lowest at 0.5 percent. Varied inflation rates across major economies The inflation landscape varies considerably among major economies. China had the lowest inflation rate at -0.1 percent in May 2025. In contrast, Russia maintained a high inflation rate of 9.9 percent. These figures align with broader trends observed in early 2025, where China had the lowest inflation rate among major developed and emerging economies, while Russia's rate remained the highest. Central bank responses and economic indicators Central banks globally implemented aggressive rate hikes throughout 2022-23 to combat inflation. The European Central Bank exemplified this trend, raising rates from 0 percent in January 2022 to 4.5 percent by September 2023. A coordinated shift among major central banks began in mid-2024, with the ECB, Bank of England, and Federal Reserve initiating rate cuts, with forecasts suggesting further cuts through 2025 and 2026.

The Gross Domestic Product per capita in China was last recorded at 13121.68 US dollars in 2024. The GDP per Capita in China is equivalent to 104 percent of the world's average. This dataset provides - China GDP per capita - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hong Kong HK: GDP: Growth: Final Consumption Expenditure data was reported at 5.260 % in 2017. This records an increase from the previous number of 2.010 % for 2016. Hong Kong HK: GDP: Growth: Final Consumption Expenditure data is updated yearly, averaging 5.280 % from Dec 1974 (Median) to 2017, with 44 observations. The data reached an all-time high of 15.855 % in 1978 and a record low of -4.591 % in 1998. Hong Kong HK: GDP: Growth: Final Consumption Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Average annual growth of final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Final consumption expenditure (formerly total consumption) is the sum of household final consumption expenditure (formerly private consumption) and general government final consumption expenditure (formerly general government consumption). This estimate includes any statistical discrepancy in the use of resources relative to the supply of resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

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.

Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data was reported at 4.757 % in 2017. This records an increase from the previous number of 1.356 % for 2016. Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data is updated yearly, averaging 5.222 % from Dec 1962 (Median) to 2017, with 56 observations. The data reached an all-time high of 15.046 % in 1977 and a record low of -6.282 % in 1998. Hong Kong HK: GDP: Growth: Household Final Consumption Expenditure per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Hong Kong SAR – Table HK.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of household final consumption expenditure per capita, which is calculated using household final consumption expenditure in constant 2010 prices and World Bank population estimates. Household final consumption expenditure (private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Macau MO: GDP: Growth: Final Consumption Expenditure data was reported at 1.626 % in 2017. This records an increase from the previous number of 0.379 % for 2016. Macau MO: GDP: Growth: Final Consumption Expenditure data is updated yearly, averaging 5.916 % from Dec 1983 (Median) to 2017, with 35 observations. The data reached an all-time high of 14.140 % in 2013 and a record low of -4.323 % in 2000. Macau MO: GDP: Growth: Final Consumption Expenditure data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Macau SAR – Table MO.World Bank.WDI: Gross Domestic Product: Annual Growth Rate. Average annual growth of final consumption expenditure based on constant local currency. Aggregates are based on constant 2010 U.S. dollars. Final consumption expenditure (formerly total consumption) is the sum of household final consumption expenditure (formerly private consumption) and general government final consumption expenditure (formerly general government consumption). This estimate includes any statistical discrepancy in the use of resources relative to the supply of resources.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted average;

Bank Guarantee Market Outlook

The global bank guarantee market size was valued at approximately USD 24.5 billion in 2023 and is projected to reach USD 38.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period. This growth can be attributed to the increasing globalization of trade, the rising need for financial security in large infrastructure projects, and the expanding operations of multinational corporations. The enhanced focus on mitigating payment risks and ensuring performance compliance in international and domestic trade has propelled the demand for bank guarantees.

One of the primary growth factors driving the bank guarantee market is the surge in international trade and investment. As businesses expand their operations across borders, the need for secure and reliable financial instruments to mitigate risks associated with commercial transactions becomes paramount. Bank guarantees provide a financial safety net for exporters and importers by ensuring payment and performance security, thus fostering confidence in international trade agreements. Additionally, the increasing role of government initiatives in promoting exports and facilitating trade agreements further bolsters the demand for bank guarantees.

Another significant growth driver is the rise in large-scale infrastructure projects worldwide. Governments and private entities are investing heavily in infrastructure development to support urbanization, economic growth, and technological advancements. These projects often require substantial financial commitments and involve multiple stakeholders, making bank guarantees essential for ensuring project completion and payment assurance. The growing emphasis on public-private partnerships (PPPs) in infrastructure development also underscores the importance of bank guarantees in managing financial risks and enhancing project viability.

The proliferation of small and medium-sized enterprises (SMEs) is also contributing to the growth of the bank guarantee market. SMEs often face challenges in securing credit and financial support due to their limited resources and credit history. Bank guarantees serve as a valuable tool for SMEs by providing a form of collateral that enhances their credibility and facilitates access to financing. This empowers SMEs to participate in larger projects and tenders, thereby driving economic growth and job creation. The increased focus on SME development by governments and financial institutions further amplifies the market potential for bank guarantees.

From a regional perspective, the Asia Pacific region is expected to witness significant growth in the bank guarantee market during the forecast period. The region's robust economic growth, coupled with extensive infrastructure development and expanding international trade activities, drives the demand for bank guarantees. Countries like China, India, and Japan are at the forefront of this growth, with large-scale projects and increasing investment flows necessitating effective risk management solutions. Furthermore, the rise of regional trade agreements and economic cooperation initiatives in Asia Pacific further enhances the market outlook.

Type Analysis

In the bank guarantee market, the type segment comprises financial guarantees, performance guarantees, bid bond guarantees, advance payment guarantees, and others. Financial guarantees are widely used in ensuring the fulfillment of financial obligations in various transactions, providing assurance to lenders and counterparties about the solvency and creditworthiness of borrowers. The demand for financial guarantees is primarily driven by the need for credit enhancement in large-scale financing projects and international trade, where securing credible financial backing is crucial.

Performance guarantees, on the other hand, are essential in construction and infrastructure projects, ensuring that contractors meet their contractual obligations in terms of quality, timelines, and specifications. These guarantees mitigate the risks associated with non-performance or under-performance, providing confidence to project owners and investors. The surge in infrastructure development projects globally underscores the growing relevance of performance guarantees, as they play a pivotal role in project viability and completion assurance.

Bid bond guarantees are critical in the tendering process for construction and supply contracts. These guarantees ensure that the bidders adhere to their commitments and do not withdraw or alter their bids once submitted.

The global Certificate of Deposit (CD) market is a significant segment of the financial services industry, characterized by its relatively low risk and stable returns. While precise market sizing data is unavailable, considering the substantial presence of major global banks like JPMorgan Chase, Bank of China, and BNP Paribas in the list of companies, and given the long-term nature of the study period (2019-2033), we can infer a large market size. A reasonable estimate for the 2025 market size would be in the range of $15-20 trillion USD, reflecting the substantial volume of funds held in CDs globally. This market is driven by factors such as the need for secure short-term investment options for individuals and corporations, particularly amidst periods of economic uncertainty, and the comparatively higher yields compared to savings accounts. Trends indicate a growing preference for online CD platforms and increasing competition amongst banks to offer attractive interest rates and flexible terms, leading to innovation within the product offerings. However, factors such as low interest rate environments and the availability of alternative investment options may act as restraints on market growth, with the CAGR potentially ranging from 2% to 5% over the forecast period (2025-2033). The market is segmented by various factors including CD maturity period (short-term, medium-term, long-term), investor type (individuals, institutions), and geographic region. The forecast period will likely see a shift in the regional market share. While traditional financial hubs like North America and Europe will maintain considerable dominance, we can anticipate a rise in the share held by Asia-Pacific countries driven by increasing financial literacy and economic growth in emerging markets. The competitive landscape is dominated by large multinational banks, but smaller regional banks and online financial technology (fintech) companies are also playing an increasingly significant role, introducing innovative features and targeting specific niche markets. Strategic partnerships and mergers & acquisitions are expected to further shape the competitive landscape during the forecast period, along with increasing regulatory oversight aimed at maintaining financial stability. The continued evolution of financial technology and shifting investor preferences will influence CD product development and the overall market growth trajectory.

Macau MO: GDP: Growth: Household Final Consumption Expenditure per Capita data was reported at -0.104 % in 2017. This records an increase from the previous number of -2.921 % for 2016. Macau MO: GDP: Growth: Household Final Consumption Expenditure per Capita data is updated yearly, averaging 3.019 % from Dec 1983 (Median) to 2017, with 35 observations. The data reached an all-time high of 8.834 % in 2011 and a record low of -3.132 % in 2000. Macau MO: GDP: Growth: Household Final Consumption Expenditure per Capita data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Macau – Table MO.World Bank: Gross Domestic Product: Annual Growth Rate. Annual percentage growth of household final consumption expenditure per capita, which is calculated using household final consumption expenditure in constant 2010 prices and World Bank population estimates. Household final consumption expenditure (private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country.; ; World Bank national accounts data, and OECD National Accounts data files.; Weighted Average;

Performance Bank Guarantee Market Outlook

The global Performance Bank Guarantee market size is poised to grow significantly from USD 28.4 billion in 2023 to an estimated USD 47.9 billion by 2032, with a compound annual growth rate (CAGR) of 5.8%. This robust growth is driven by increasing cross-border trade, expansion in construction and manufacturing sectors, and the growing need for risk mitigation in various industries. Performance bank guarantees (PBGs) play a crucial role in ensuring contractual obligations are met, offering financial security to beneficiaries against non-performance or default by the counterparties.

One of the primary growth drivers of the Performance Bank Guarantee market is the rapid expansion of infrastructure and construction projects worldwide. Governments and private sectors are heavily investing in large-scale infrastructure developments, which often necessitate performance guarantees to secure project completion and compliance with contractual terms. This rising demand in the construction industry propels the need for performance bank guarantees, thereby bolstering market growth. Additionally, the increasing trend of public-private partnerships (PPP) in infrastructure projects further amplifies the demand for PBGs as it ensures financial security and trust between participants.

Another significant factor contributing to the market's growth is the globalization of trade and international business transactions. With the expansion of multinational corporations and the rise in cross-border trade, the need for performance bank guarantees to mitigate risks associated with international contracts has surged. These guarantees provide assurance to international buyers and suppliers, ensuring that obligations are fulfilled and reducing the financial risks involved in global trade. The growing complexity and scale of international trade agreements necessitate robust risk management tools, further driving the demand for PBGs in various sectors including manufacturing, services, and others.

The market is also buoyed by the increasing adoption of digital banking and financial technologies. The integration of advanced technologies such as blockchain, artificial intelligence, and machine learning in banking operations enhances the efficiency and security of issuing performance guarantees. Fintech innovations are streamlining the process of obtaining and managing bank guarantees, making it easier for businesses to access these financial instruments. As a result, the adoption of digital solutions in the banking sector is expected to significantly contribute to the growth of the PBG market over the forecast period.

Regionally, the Asia Pacific region is expected to dominate the Performance Bank Guarantee market, driven by the rapid economic growth and infrastructural developments in countries like China and India. The increasing number of construction projects, coupled with the expansion of manufacturing industries, fuels the demand for performance bank guarantees in this region. Additionally, favorable government policies and initiatives to promote trade and investment further enhance market growth in Asia Pacific. North America and Europe are also significant markets, supported by established financial infrastructures and the presence of large multinational corporations engaged in cross-border activities.

Type Analysis

The Performance Bank Guarantee market can be segmented by type into conditional and unconditional guarantees. Conditional performance bank guarantees are those where the beneficiary must comply with certain conditions or perform specific actions to claim the guarantee. These types of guarantees often require the beneficiary to provide evidence of non-performance or breach of contract before the financial institution can release the funds. Conditional guarantees are typically used in contracts where both parties have significant responsibilities and there is a need for detailed verification of compliance before any claims can be made. This type of guarantee is prevalent in sectors where performance metrics and milestones are clearly defined, such as construction and manufacturing.

Unconditional performance bank guarantees, on the other hand, do not require the beneficiary to fulfill any conditions to claim the guarantee. The financial institution is obligated to pay the guaranteed amount upon the beneficiary's demand without any additional proof or documentation. This type of guarantee offers higher security to the beneficiary and is often used in high-stakes contracts where the risk of non-performance is substantial. Uncondit

China Snack Bar Market size was valued at USD 16 Billion in 2024 and is projected to reach USD 34 Billion by 2032, growing at a CAGR of 10% from 2026 to 2032.

Key Market Drivers:

Rapid Urbanization and Changing Consumer Lifestyles: Increasing urban population and busy lifestyles driving convenient snack consumption. According to the National Bureau of Statistics of China, the urbanization rate reached 64.7% in 2021, up from 60.6% in 2018. The World Bank notes that China's rapid urbanization has fundamentally transformed consumption patterns, with urban consumers showing a growing preference for convenient, ready-to-eat food options.

Rising Disposable Income and Middle-Class Expansion: Growing middle-class purchasing power increasing snack market potential in China. The World Bank reported China's per capita GDP reached $12,556 in 2021, indicating significant economic growth.

The industry closely follows global economic performance since demand for loans is heavily influenced by business and consumer confidence as well as the level of activity that requires financing. The strong global economic performance fueled by the United States and emerging markets, such as China and South East Asia, are expected to improve from increased aggregate private investment, which has supported loan origination. Although Global Commercial Banks revenue has lagged at a CAGR of 0.1% to $2.9 trillion over the past five years, including an estimated drop of 0.2% in 2024 alone. Strong performance in the United States and China for most of the last five years has bolstered economic activity. Low interest rates at the onset of the period have fomented loan origination, primarily from businesses taking advantage of the opportunity and individuals taking out residential mortgages. This low interest rate environment has hurt industry profit, which has supported efforts to consolidate operations. The interest rate environment has reversed due to rising inflation. This is anticipated to increase industry profit towards the end of the period. Industry revenue is expected to grow as the global economy continues to recover from the volatile economic environment at the onset of the period and tighten its monetary policy. In addition, interest rates are expected to be cut further at the onset of the outlook period has inflation continues to ease. Strong economic performance in emerging markets is anticipated to foment growth of commercial banking activity in various countries and aid faster revenue growth over the next five years. But geopolitical tensions are expected to ramp up and pose an important threat to growth. Global commercial banks revenue is expected to climb at a CAGR of 3.0% to $3.3 trillion over the five years to 2029.