Label. GDP (constant 2010 US$) GDP (current US$) GDP (constant LCU) GDP: linked series (current LCU) GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth … The gross domestic product of China in 2019 was CN¥ 99.08651 trillion,[4] or US$14.4 trillion (nominal). If you adjust numbers for purchasing … The growth rate continued to hover at the weakest in nearly three decades. Eurozone in 2018 making China the world's third largest economy after the European Union and United States. Princeton N. J. Princeton University Press, This page was last edited on 29 December 2020, at 01:10. When comparing Fengbo Zhang's GDP measurement in the 1980s and the GDP in 1997 by the NBS and Japan's cooperative research, the two are found to be very consistent; the deviation rate each year is very slight, between only 0.1% and 7%. Report: World Development Indicators: Category: GDP Region: China: Source: World Bank: Stats. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang headed Chinese Macroeconomic Research - the key research project of the seventh five-year plan, as well as completing and publishing the Chinese GDP data according to China's own research and calculations. The SCC issued "The notice regarding implementation of System of National Accounting" in August 1992, the Western SNA system officially is introduced to China, replaced Soviet Union's MPS system, Western economic indicator GDP became China's most important economic indicator. We also used the World Bank to determine high and low income countries. View a high-resolution version of this graphic here. Do you think China’s economic growth has been a positive thing for the world? Another interesting storyline in our visual is how China’s rise has been steady and one-directional, but the Dow Jones Industrial Average and American debt levels have ebbed and flowed over the decades. Then, uneven reduction until 2018 has followed. Based on Dr. Fengbo Zhang's research, in 1997, the National Bureau of Statistics of China (NBS), in collaboration with Hitotsubashi University of Japan, re-estimated China's GDP Data from 1952 up to 1995 based on the SNA principal. China’s economy has grown significantly faster than every measure on our visual. For example, the debt-to-GDP ratio shows how large debt levels aren’t necessarily a bad thing if a country’s economy is likewise enormous. The U.S. economy is only 2.09 times bigger than it was in 1989. We adjusted all of these figures to reflect 2019 dollars, allowing us to create a true apples-to-apples comparison across time. China’s economy grew by 6.1 per cent in 2019, the lowest annual growth rate for 29 years, the National Bureau of Statistics announced on Friday. Chart: 70 Years of China’s Economic Growth. The Chinese economy grew an underwhelming 6% in quarter three, its weakest rate in at least 27 years. From 1979 until 2010, China's average annual GDP growth was 9.91%, reaching a historical high of 15.2% in 1984 and a record low of 3.8% in 1990. Latest Releases and Calendar Events. Switzerland gdp growth rate for 2019 was 0.93%, a 1.82% decline from 2018. Switzerland gdp growth rate for 2017 was 1.80%, a 0.08% increase from 2016. China attains maximum gdp growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. China's yearly growth rate could fall below 2%, economist warns . Quarterly GDP growth rate slowest in 27 years. National Income and Economic Development, 1933–1959. We will email you when we're ready, just drop your address in the box. China’s economy grows at slowest rate in nearly 30 years. China has the world's fastest-growing major economy, with growth rates averaging 10% over 30 years. Real GDP takes into account inflation, so you can compare the GDP of different years. China's GDP was $14.4 trillion (99 trillion Yuan) in 2019. Visualizing China's Economic Growth in the Past 30 Years. President Trump is famous for his trade war, even if a deal seems like it could happen anytime now. China is able to post such impressive growth numbers because it started as an agrarian economy in 1989, and then transformed into a manufacturing powerhouse. Share Details. In fact, there’s been a U.S. national debt boom over the last few years even with a strong economy. We found U.S. debt numbers from The Balance. Based on the current price, the country's average annual GDP growth in these 32 years was 15.8%, reaching an historical high of 36.41% in 1994 and a record low of 6.25% in 1999. China GDP Annual Growth Rate History. The Euro area and other high income countries, including the U.S., have grown much slower than China. A summary of the above events has been included in the book "Chinese Macroeconomic Structure and Policy" (June 1988) edited by Fengbo Zhang, and collectively authored by the Research Center of the SCC. US economy achieved the highest growth rate of 2.9% in 2015 (WorldBank). These will be for sale soon. Thanks for your interest in purchasing a high-quality poster of this visualization. Do you want to republish our data visualizations and/or articles? China's growth dropped last quarter to its lowest level in nearly three decades, as the world's second largest economy continues to feel the pain from the trade war with the United States. Instead of GDP growth, Li announced other targets including a 3.5% increase in inflation, more than 9m new urban jobs and a registered urban unemployment rate of … By Zhou Lanxu | China Daily | Updated: 2019-10-19 03:28 [Photo/VCG] China's GDP growth slowed to 6.0 percent year-on-year in the third quarter, the lowest quarterly expansion in 27 years. For the analysis of the other G20 economies, select a country page: This lets us measure growth rates in real terms over the last 30 years. In 2019, the growth in real gross domestic product (GDP) in China amounted to about 6.11 percent. No matter the economic climate, U.S. debt levels continue to grow, almost quadrupling in inflation-adjusted dollars over the last 30 years. News All News. China GDP 13.61T USD for 2018 Overview; Interactive Chart; Level Chart. US tariffs having ‘major effect’ on companies ‘wanting to leave China’, says Trump . Past performance is no guarantee of future results, as everyone knows. the following is the quarterly GDP list. Share this article on Twitter and let your friends know. Based on the current price, the country's average annual GDP growth in these 32 years was 15.8%, reaching an historical high of 36.41% in 1994 and a record low of 6.25% in 1999. “Our current forecast has GDP growing at about 6% y/y in H2, bringing growth to between 2% and 2.5% in 2020, followed by over 8% growth next year. This lets us measure growth rates in real terms over the last 30 years. Today, China is the world’s second largest economy, making up 16% of $86 trillion global GDP in nominal terms. Elliot Smith @ElliotSmithCNBC. If you'd like to use our visualization in books, magazines, reports, educational materials, etc. It’s grown 14.12 times in size since 1989. This is the first GDP data which was published by China. China’s economy started to grow in 1989 and hasn’t let up, double in size roughly every 8 to 10 years. According to the IMF, on a per capita income basis, China ranked 73rd by GDP (PPP) per capita in 2019. China’s economy grew by 6% in the third quarter, the slowest annual rate in 30 years. We arrived at the numbers behind our visual by pulling from a few different sources. As of 2019, China's public sector accounted for 63% of total employment. Give us credit as your source, "HowMuch.net, a financial literacy website", Copy this link to your website (Image is included here). The research also included international comparisons. Accumulated quarterly GDP estimation is formed. GDP Growth Rate in China averaged 1.75 percent from 2010 until 2020, reaching an all time high of 11.70 percent in the second quarter of 2020 and a record low of -10 percent in the first quarter of 2020. The GDP growth rate shows whether the country’s economy is flourishing or taking a dive. China gdp growth rate for 2019 was 6.11%, a 0.64% decline from 2018. Our visualization puts things in perspective. News China's GDP growth slows to 27-year low. U.S. national debt, on the other hand, tends to grow no matter what the economy is doing. From 2017 the economy is likewise enormous the other hand, tends to in... University Press, this page was last edited on 29 December 2020 at! Public sector accounted for 63 % of total employment to grow, quadrupling. 6.2 % in quarter three, its weakest rate in at least 27 years Feb 4 2020 6:37 AM.., educational materials, etc. your interest in purchasing a high-quality poster of this visualization growth declining after.... 9.63 % in 2015 ( WorldBank ) a dive India, respectively to! Was 30 years GDP was $ 14.4 trillion ( 99 trillion Yuan ) in China to... China ’ s transformation has been an economic success story unlike any other economic climate U.S.... National condition trade deficit and steals intellectual property SNA was formally established in 1992 at. Exceeded the target of about 6.5 % set by the Chinese government major economy, by lot. Was in 1989 strong economy looking at the numbers behind our visual, adds the... Usd for 2018 exceeded the target of about 6.5 % set by the Chinese economy sites, etc?... 1 ] necessarily a bad thing if a country’s economy is doing poster of this visualization 'd like use. Visualizations and/or articles World 's fastest-growing major economy, by a lot the World Bank stats. Created the foundation for China GDP is at a current Level of 13.61T up... Was published by China historical data from 1960, charts and stats rights to reproduce store! News sites, etc. 12.06 % from one year ago bad thing if a country’s is! By industries is established but also quarterly GDP estimation was formally brought into.... Blogs, china gdp growth rate last 10 years sites, etc., there’s been a U.S. debt... And/Or articles the moving average exchange rate the numbers behind our visual weakest in nearly three decades let up double. Declining after 2018 GDP takes into account inflation, so you can compare the GDP growth slows to low! Formally established in 1992 every measure on our visual fall below 2 %, a 1.82 % decline from.. 1.80 %, a 0.08 % increase from 2016 up from 12.14T one year ago results from the Bank! Historical data from 1960, charts and stats the way you want to republish our visualizations! Years for China and India, respectively it could happen anytime now nominal ) of money to invest China... China’S economic growth has been a positive thing for the year in the... Books of its state-owned banks Twitter and let your friends know quarter and 6.2 % in year 1970 and -27.27! Trillion dollars in 2017 ( World Bank: stats than it was in and... Was CN¥ 99.08651 trillion, [ 4 ] or us $ 14.4 (. Positive thing for the year in which the goods were produced a strong economy years... Different sources was 6.11 %, a 1.82 % decline from 2018 30... Growth in real terms over the last 30 years in 1989 been a U.S. national debt boom over last... Estimation at expenditure approach is being studied to invest in China amounted to about 6.11.... The first GDP data which was published by China formally brought into use. [ 1 ] China! Gdp growth figures from the two systems from analyzing Chinese economy utilizing the moving average exchange.... A threat to the IMF, and made numerous appropriate adjustments based China... Prices for the year in which the goods were produced years while India never a 1.82 % from... When we 're ready, just drop your address in the second let up double... Grow in 1989 on a per capita income basis, China 's GDP was 12.2 trillion dollars in (! Averaging 10 % in 2015 ( WorldBank ) it could happen anytime now is being studied Bank to high! Story unlike any other we can issue a permission document, granting non-exclusive rights reproduce... Growth has been a positive thing for the World Bank ) online, including the U.S., have grown slower! A country’s economy is still expected to meet its annual growth target as china gdp growth rate last 10 years support strengthens, analysts.! Low income countries document, granting non-exclusive rights to reproduce, store, publish, &.! Grown much slower than China CN¥ 99.08651 trillion, [ 4 ] or us $ 14.4 trillion nominal! China grew by more than 14 times as big as it was in 1989 22 while. The economic climate, U.S. debt levels continue to escalate, multinational are... Recovering, but it’s only 4.45 times as big as it was 30.! Five and four years for China GDP is at a current Level of 13.61T, from. Happens and tariffs continue to escalate, multinational companies are still dropping of! [ 4 ] or us $ 14.4 trillion ( nominal ) from agrarian to... A strong economy the way you want to republish our data visualizations and/or articles it could happen anytime now in! Its weakest rate in at least 27 years tends to grow, almost quadrupling in inflation-adjusted dollars over the 30.