Between 1960 and 2021, China’s GDP averaged 2820.59 USD billion, with a record high of 17734.06 USD billion in 2021 and a historic low of 47.21 USD billion in 1962. This website offers information on China’s GDP, including current values, past data, projections, charts, statistics, an economic calendar, and news. The statistics, historical data, and charts for China’s GDP were last updated on December 2022.
China’s GDP Growth Rate
The Chinese economy grew seasonally adjusted by 3.9% in the three months to September 2022 compared to the prior quarter. This exceeded 3.5% of market forecasts. Beijing’s policies and measures to stimulate the economy helped the economy grow at its most excellent quarterly rate since the second quarter of 2020. The COVID-zero strategy, a slowdown in exports, a persistent real estate crisis, and the potential for a global slowdown as a result of major central banks tightening their monetary policies are just a few of the issues the Chinese economy still faces both domestically and internationally even though it has recovered. The economy expanded by 3.9% annually in the third quarter, up from a 0.4% expansion in the previous quarter, pushing the year-to-date GDP to 3%.
China GDP Annual Growth Rate
The National Bureau of Statistics reported Tuesday that China’s projected 8.4% annual GDP growth rate for 2021 has increased from the prior estimate of 8.1 percent. The services sector, which accounts for 53 percent of China’s GDP, revised its final numbers from the agency to 8.5 percent from 8.2 percent. In contrast, the secondary sector, which made up 39 percent of the GDP in 2021, expanded by 8.7 percent. In contrast, the agency had initially predicted an expansion of 8.2 percent. China’s GDP increased by 3% in the first nine months of 2022. The World Bank has significantly lowered the official aim of roughly 5.5 percent to 2.7 percent in its 2022 economic growth prediction for China.
China Full Year GDP Growth
China’s GDP increased by 8.1 percent in 2021, selecting up speed from a growth of 2.2 percent in 2020 and exceeding the government’s goal of “over 6 percent.” Nevertheless, according to GDP quarterly data, the world’s No. 2 economy’s recovery appears to be stalling, which also pointed to the property sector’s prolonged decline, the Omicron variant’s uncertainty, and a declining birth rate.