china gdp growth rate last 10 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. Switzerland gdp growth rate for 2018 was 2.75%, a 0.95% increase from 2017. From agrarian economy to global superpower in half a century—China’s transformation has been an economic success story unlike any other. The stock market obviously contracts during recessions before recovering, but it’s only 4.45 times as big as it was 30 years ago. GDP growth (annual %) World Bank national accounts data, and OECD National Accounts data files. Past performance is no guarantee of future results, as everyone knows. The research systematically completed China's GDP and GDP per capita from 1952 to 1986 and analyzed growth rate, the change and contribution rates of each component. During the 2008-17 period, China’s GDP growth rate was highest in 2010 at 10.6%. Quarterly GDP growth rate slowest in 27 years. U.S. national debt, on the other hand, tends to grow no matter what the economy is doing. China's quarterly GDP estimation was formally established in 1992. This is a change of 12.06% from one year ago. (Bloomberg) -- China revised down its official GDP growth rate for 2019 to 6% from 6.1%, mainly due to a lower estimate for manufacturing output, a change that will make it slightly easier for officials to report economic expansion this year. These will be for sale soon. dollar are based on the World Economic Outlook Database April 2019, the historical PPP GDP figures of Mainland China and exchange rates of Chinese yuan to Int'l. China attains maximum gdp growth rate of 19.30% in year 1970 and minimum -27.27% in 1961. Report: World Development Indicators: Category: GDP Region: China: Source: World Bank: Stats. The money supply increased right along with it, created on the books of its state-owned banks. It’s more than 14 times as big as it was in 1989. If you'd like to use our visualization in books, magazines, reports, educational materials, etc. China’s growth rate surpassed every other measure we found, from the Dow Jones Industrial Average, to rich and poor countries, and even U.S. debt. 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. This lets us measure growth rates in real terms over the last 30 years. Four international agencies including WB, EIU, IMF, and UN give forecasts with the GDP Growth declining after 2018. License: CC BY-4.0 Line Bar Map. China has the world's fastest-growing major economy, with growth rates averaging 10% over 30 years. 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%. During this period, there were many data adjustments, with weighting factors undergoing significant changes along with each year's comparable price amendments, statistical method significant changes result in the substantial deviation. 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. Give us credit as your source, "HowMuch.net, a financial literacy website", Copy this link to your website (Image is included here). Despite the slowdown, the growth rate for 2018 exceeded the target of about 6.5% set by the Chinese government. 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. The GDP growth rate shows whether the country’s economy is flourishing or taking a dive. This lets us measure growth rates in real terms over the last 30 years. Thanks for your interest in purchasing a high-quality poster of this visualization. A negative growth rate indicates contraction. Latest Releases and Calendar Events. 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 GDP dollar estimates presented here are either calculated at market or government official exchange rates (nominal), or derived from purchasing power parity (PPP) calculations. Basic Info. 10 Year Treasury Rate; S&P 500 Dividend Yield; S&P 500 Earnings; S&P 500 Historical Prices; more; multpl. This achievement created the foundation for China GDP research. While GDP growth crossed over 3% in a few quarters the past three years, on a full year basis GDP growth hit a high point of 2.9% in 2018, the year that Trump’s tax cut took effect. It’s grown 14.12 times in size since 1989. View a high-resolution version of this graphic here. Despite the extremely difficult conditions of a destroyed economy, blank theory, a lack of data, and simple methods in the 1980s, there is so little deviation for such a long period of time and the comprehensiveness of the national economic indicator, indicates that the research conducted by Fengbo Zhang with the support of the extensive group he trained is extremely rigorous, and their result very precise. In fact, there’s been a U.S. national debt boom over the last few years even with a strong economy. This article includes a list of China's historical gross domestic product (GDP) values, the market value of all final goods and services produced by a nation in a given year. GDP growth rate was negative in five and four years for China and India, respectively. China Real GDP by Year. Want to use our visualization online, including on open publications like blogs, news sites, etc.? 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. According to the IMF, on a per capita income basis, China ranked 73rd by GDP (PPP) per capita in 2019. Last 12 readings. China gdp growth … [5], China's nominal GDP surpassed that of Italy in 2000, France in 2005, the United Kingdom in 2006, Germany in 2007, Japan in 2010 and that of the … It’s more than 14 times as big as it was in 1989. Yet the economy is still expected to meet its annual growth target as policy support strengthens, analysts said. Do you think China’s economic growth has been a positive thing for the world? India reached an all time high of 9.63% in 1988 and a record low of -5.24% in 1979. Afterwards, following the development of SNA of China, quarterly GDP is successively standardized and improved in estimation methodology, accounting classification, accounting procedure, release time and data quality control. Then, uneven reduction until 2018 has followed. China's economic growth has slumped to its lowest level in nearly three decades as the world's second largest economy feels the effects of a prolonged trade war with the United States. [6] But adjusting for purchasing power parity (PPP), China become the world's second largest economy as early as 1999 surpassing Japan, and has toppled America to become the biggest economy since 2014.[7]. China started to study and then implement a new system of national economic accounting. The GDP also has been converted to U.S. dollar-based data by utilizing the moving average exchange rate. This is the first GDP data which was published by China. No matter the economic climate, U.S. debt levels continue to grow, almost quadrupling in inflation-adjusted dollars over the last 30 years. Switzerland gdp growth rate for 2016 was 1.72%, a … Components of GDP by Industries (Revision based on the 4th Economic Census 2018), List of China GDP by three International organizations, comparison for percentage share of world nominal GDP, comparison of Nominal GDP per capita by year, comparison for percentage share of world nominal GDP, Comparative data of three International organizations, the historical PPP GDP figures of Mainland China and exchange rates of Chinese yuan to Int'l. China GDP Growth Rate Is Slowest in Five Years Economy Grew at a Slower Pace of 7.3% in the Third Quarter Economic growth a will be a focus at China’s fourth plenum, a … The U.S. economy is only 2.09 times bigger than it was in 1989. Accumulated quarterly GDP estimation is formed. China’s growth rate surpassed every other measure we found, from the Dow Jones Industrial Average, to rich and poor countries, and even U.S. debt. We arrived at the numbers behind our visual by pulling from a few different sources. Chart: 70 Years of China’s Economic Growth. Visualizing China's Economic Growth in the Past 30 Years. We will email you when we're ready, just drop your address in the box. Nominal GDP reflects the prices for the year in which the goods were produced. US economy achieved the highest growth rate of 2.9% in 2015 (WorldBank). Even if nothing happens and tariffs continue to escalate, multinational companies are still dropping buckets of money to invest in China. In depth view into China GDP including historical data from 1960, charts and stats. China’s real gross domestic product (GDP) grew at an average annual rate of nearly 10%.1 According to the World Bank, China has “experienced the fastest sustained expansion by a major economy in history—and has lifted more than 800 million people out of poverty.”2 China has emerged as a major global economic power. the following is the quarterly GDP list. 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. China GDP Annual Growth Rate History. 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. Its GDP was 12.2 Trillion dollars in 2017 (World Bank). “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. [2] Xie Fuzhan, former Director, and Ma Jiantang, current Director of the NBS, both participated in Dr. Fengbo Zhang's research project in the 1980s, as assistant researcher and graduate student, respectively, of the Research Center of the SCC. It’s an open question how long it will take China to double yet again given these challenges, especially given the recent headlines about slowing down. President Trump constantly warns about China as a threat to the world. This was down from 6.4% in the first quarter and 6.2% in the second. we can issue a permission document, granting non-exclusive rights to reproduce, store, publish, & distribute. President Trump is famous for his trade war, even if a deal seems like it could happen anytime now. China’s economy grows at slowest rate in nearly 30 years. China’s economy started to grow in 1989 and hasn’t let up, double in size roughly every 8 to 10 years. China gdp growth rate for 2019 was 6.11%, a 0.64% decline from 2018. 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. GDP Annual Growth Rate in China averaged 9.23 percent from 1989 until 2020, reaching an all time high of 15.30 percent in the first quarter of 1993 and a record low of -6.80 percent in the first quarter of 2020. Switzerland gdp growth rate for 2017 was 1.80%, a 0.08% increase from 2016. It’s also critical to understand how the U.S. is still the biggest economy, by a lot. 1961 - 2019. We adjusted all of these figures to reflect 2019 dollars, allowing us to create a true apples-to-apples comparison across time. 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. The growth rate continued to hover at the weakest in nearly three decades. 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. China's GDP was $14.4 trillion (99 trillion Yuan) in 2019. 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. Label. In 1985, the State Council of China (SCC) approved the establishment of a SNA (System of National Accounting), using GDP to measure the national economy. As of 2019, China's public sector accounted for 63% of total employment. If you adjust numbers for purchasing … Additionally, the research compared MPS and SNA, looking at the results from the two systems from analyzing Chinese economy. 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. menu. The research utilized the World Bank's method as a reference, and made numerous appropriate adjustments based on China's national condition. Our visualization puts things in perspective. China’s economy grew by 6% in the third quarter, the slowest annual rate in 30 years. China GDP 13.61T USD for 2018 Overview; Interactive Chart; Level Chart. China's yearly growth rate could fall below 2%, economist warns . dollar are based on the World Economic Outlook Database October 2019, "Chinese Macroeconomic Structure and Policy" (June 1988), List of Chinese administrative divisions by GDP per capita, List of Chinese administrative divisions by GDP, Comparison between Chinese provinces and sovereign states by GDP PPP, List of country subdivisions by GDP over 100 billion US dollars, China NBS Announcement: GDP Revision according to SNA2008 (Chinese), China revises Historical GDP according to SNA2008, "Annual > Indicators > National Accounts > Gross Domestic Product", https://www.bloomberg.com/news/articles/2018-03-06/china-s-economy-is-set-to-overtake-combined-euro-area-this-year, "National Economy was Generally Stable in 2019 with Main Projected Targets for Development Achieved", China NBS: National data - annual - national accounts - Gross Domestic Product, Statistical Communiqué of the People's Republic of China on the 2017 National Economic and Social Development, "Download WEO Data: October 2019 Edition", United Nations: National Accounts Main Aggregates Database - Latest Data Upload (December 2015), World bank / World Development Indicators (, United Nations: National Accounts main aggregates database (loaded on December 2015), List of top international rankings by country, Grasping the large, letting go of the small, China Banknote Printing and Minting Corporation, National Development and Reform Commission, Ministry of Industry and Information Technology, State-owned Assets Supervision and Administration Commission, State Administration for Industry and Commerce, China Council for the Promotion of International Trade, All-China Federation of Industry and Commerce, Guangdong-Hong Kong-Macau Greater Bay Area, Mainland and Hong Kong Closer Economic Partnership Arrangement, Mainland and Macau Closer Economic Partnership Arrangement, Regional Comprehensive Economic Partnership, History of trade of the People's Republic of China, https://en.wikipedia.org/w/index.php?title=Historical_GDP_of_China&oldid=996877451, Economic history of the People's Republic of China, All Wikipedia articles in need of updating, Wikipedia articles in need of updating from January 2012, Creative Commons Attribution-ShareAlike License, Ta-Chung Liu, Kung-Chia Yeh: The Economy of the Chinese Mainland. But how should we understand the rapid rise of China on the global economic stage? 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. The National Bureau of Statistics of China released the new data on Friday, the same day it announced that the country's GDP growth has fallen to its lowest level in nearly 30 years. China’s economy has grown significantly faster than every measure on our visual. China GDP is at a current level of 13.61T, up from 12.14T one year ago. Even with science and technology as advanced as it is today, the single item survey is allowed at least ±3%, or a total of 6% deviation. This visualization a bad thing if a country’s economy is only 2.09 times than! 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