Historical GDP of China

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. 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. This article also includes historical GDP growth.

Chart showing GDP development trends of China and India (1950-2002).

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. China started to study and then implement a new system of national economic accounting. 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 of China, as well as completing and publishing the Chinese GDP data according to China's own research and calculations. 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. This is the first GDP data which was published by China.

The research utilized the World Bank’s method as a reference, and made numerous appropriate adjustments based on China’s national condition. The GDP also has been converted to USD based data by utilizing the moving average exchange rate. 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. The research also included international comparisons. Additionally, the research compared MPS and SNA, looking at the results from the two systems from analyzing Chinese economy. This achievement created the foundation for China GDP research.

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. 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.

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 years comparable price amendments, statistical method significant changes result in the substantial deviation. 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. Despite the extremely difficult conditions of a destroyed economy, blank theory, a lack of data, and simple methods in 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.[1] 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.

Current status

Proportion of world (countries with data) nominal GDP for the countries with the top 10 highest nominal GDP in 2010, from 1980 to 2010 with IMF projections until 2016. Grey lines show actual US dollar values[2]

As of 2015, China's nominal GDP by Expenditure approach is 67.67 trillion Chinese yuan or 10.86 trillion US dollars.[3] China's nominal GDP by Expenditure approach surpassed that of Italy in 2000, France in 2005, the United Kingdom in 2006 and that of Germany in 2007, before overtaking Japan in 2009, making China the world's second largest economy after the United States. 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.[2]

From 1979 until 2010, China's average annual GDP growth was 9.91%, reaching an historical high of 15.2% in 1984 and a record low of 3.8% in 1990. 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 NBS data

Annual GDP

China's Historical GDP for 1978 - 2015[3](Revision based on the 3rd National Economic Census 2013[4])
(purchasing power parity of Chinese Yuan, as Int'l.dollar based on IMF WEO October 6, 2015[5])
year GDP GDP per capita (GDPPC)
based on mid-year population
Reference index
GDP in billions real
growth
(%)
GDPPC real
growth
(%)
Mid-year
population
in thousands
exchange rate
1 foreign currency to CNY
CNY USD PPP
(Int'l$.)
CNY USD PPP
(Int'l$.)
USD 1 Int'l$. 1
(PPP)
p201567,670.8010,864.88 19,392.36 6.949,3517,924 14,107 6.31,371,2206.22843.4896
r201463,591.0010,352.1217,960.677.346,6297,59113,1316.71,364,2706.14283.5406
201358,801.889,494.5916,585.007.743,3206,99512,2187.21,357,3806.19323.5455
201253,412.308,461.3515,154.327.739,5446,26411,2207.21,350,6956.31253.5246
201148,412.357,495.5613,810.269.536,0185,57710,2749.01,344,1306.45883.5055
201040,890.306,040.3712,357.0210.630,5684,5159,23710.11,337,7056.76953.3091
200934,562.925,059.7211,037.859.225,9633,8018,2918.71,331,2606.83103.1313
200831,675.174,560.7910,031.749.623,9123,4437,5739.01,324,6556.94513.1575
200726,801.943,524.728,974.1214.220,3372,6756,80913.61,317,8857.60402.9866
200621,765.662,730.337,657.0812.716,6022,0835,84112.11,311,0207.97182.8426
200518,589.582,269.326,593.0511.314,2591,7415,05710.61,303,7208.19172.8196
200416,071.441,941.755,738.5110.112,4001,4984,4289.41,296,0758.27682.8006
200313,656.461,649.935,073.2910.010,6001,2813,9389.31,288,4008.27702.6918
200212,100.201,461.914,520.879.19,4501,1423,5318.41,280,4008.27702.6765
200111,027.041,332.254,081.818.38,6701,0473,2097.51,271,8508.27702.7015
20009,977.631,205.263,684.998.47,9029552,9187.51,262,6458.27842.7076
19999,018.771,089.453,322.857.67,1998702,6526.71,252,7358.27832.7142
19988,488.371,025.283,041.047.86,8358262,4496.81,241,9358.27912.7913
19977,942.95958.162,789.869.26,4577792,2688.11,230,0758.28982.8471
19967,157.23860.842,511.819.95,8787072,0638.81,217,5508.31422.8494
19956,112.98732.012,244.5711.05,0746081,8639.81,204,8558.35102.7235
19944,845.96562.261,980.8313.14,0664721,66211.81,191,8358.61872.4464
19933,552.43616.531,715.1913.93,0155231,45512.61,178,4405.76202.0712
19922,706.83490.851,470.8814.32,3244211,26312.91,164,9705.51461.8403
19912,189.55411.311,258.189.31,9033571,0937.81,150,7805.32331.7403
19901,877.43392.511,115.283.91,6543469822.41,135,1854.78321.6834
19891,709.03453.911,035.744.21,5284069262.61,118,6503.76511.6501
19881,510.11405.71958.0411.31,3713688709.51,101,6303.72211.5762
19871,210.22325.14831.8111.71,1163007679.91,084,0353.72211.4549
19861,030.88298.56726.908.99662806817.31,066,7903.45281.4182
1985903.99307.84654.6313.586029362312.01,051,0402.93661.3809
1984722.63310.54559.0515.269730053913.71,036,8252.32701.2926
1983597.56302.45468.7510.85842964589.21,023,3101.97571.2748
1982533.30281.80406.809.05292794037.41,008,6301.89251.3110
1981489.81287.36351.225.14932893533.8993,8851.70451.3946
1980455.16303.76305.237.94643103116.6981,2351.49841.4912
1979406.77261.597.64202706.2969,0051.5550
1978365.02216.8111.638222710.2956,1651.6836
1977322.105 173.380 7.6 341184 6.2 943,4601.8578
1976296.147 152.543 -1.6 318164 -3.1930,6901.9414
1975301.311 162.013 8.7 329177 6.8 916,4001.8598
1974280.374 142.960 2.3 311159 0.2 900,3501.9612
1973273.335 137.396 7.9 310156 5.4 881,9401.9894
1972253.022 112.700 3.8 294131 1.2 862,0302.2451
1971243.526 98.922 7.1 290118 4.1 841,1102.4618
1970226.132 91.856 19.4 276112 16.1 818,3202.4618
1969194.578 79.039 16.9 24499 13.7 796,0302.4618
1968173.016 70.280 -4.1 22391 -6.6774,5102.4618
1967178.028 72.316 -5.723696 -8.1754,5502.4618
1966187.308 76.086 10.7 255103 7.7 735,4002.4618
1965171.720 69.754 17.0 24098 14.3 715,1902.4618
1964145.554 59.125 18.3 20885 15.5 698,3602.4618
1963123.637 50.222 10.2 18174 7.5 682,3402.4618
1962115.124 46.764 -5.617370 -6.4665,7702.4618
1961122.094 49.595 -27.318575 -26.6660,3302.4618
1960145.747 59.203 -0.321889 -0.5667,0702.4618
1959144.036 55.039 8.8 21683 6.7 666,0102.6170
1958130.821 50.238 21.3 20077 18.3 653,2402.6040
1957106.929 41.063 5.1 16864 2.4 637,4102.6040
1956102.898 39.515 15.0 16664 12.7 621,4702.6040
195591.078 34.976 6.8 15057 4.5 608,6602.6040
195485.938 33.002 4.2 14455 1.8 595,3102.6040
195382.419 31.651 15.6 14254 13.1 581,3902.6040
195267.900 30.548 11954 568,9102.2227

GDP by Expenditure Approach

GDP by Industries

Quarterly GDP

China's quarterly GDP estimation was formally established in 1992. 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. Accumulated quarterly GDP estimation is formed. Not only quarterly GDP estimation by industries is established but also quarterly GDP estimation at expenditure approach is being studied. the following is the quarterly GDP list.

List of China's quarterly GDP 1992–present
(Revison based on the 3rd Economic Census 2013,[4] in millions of CNY) [8]
year quarter 1 quarter 2 quarter 3 quarter 4 sum
GDPgrowth (%)
at current price
GDPgrowth (%)
at current price
GDPgrowth (%)
at current price
GDPgrowth (%)
at current price
GDPgrowth (%)
at current price
real growth
(%)
p201514,796,1806.6 16,621,6407.117,359,5306.218,937,2006.067,670,800 6.4 6.9
r201413,873,8008.315,520,1008.516,346,7008.517,873,2807.663,591,0008.17.3
201312,808,35010.314,303,1809.415,071,98010.216,618,36010.458,801,87010.17.7
201211,614,79012.313,076,58010.413,672,2909.115,048,6409.953,412,30010.37.7
201110,345,69019.311,846,50019.612,527,93019.413,692,23015.848,412,35018.49.5
20108,668,43018.39,905,98018.510,495,06018.011,820,82018.440,890,29018.310.6
20097,328,3606.68,361,4206.58,892,3508.99,980,80013.734,562,9309.19.2
20086,877,84021.37,853,76021.58,161,95018.78,781,63012.731,675,18018.29.6
20075,668,66021.46,464,89023.06,878,95024.07,789,43023.726,801,93023.114.2
20064,667,83016.35,256,04017.55,546,78016.76,295,01017.721,765,66017.112.7
20054,013,09017.04,474,82015.64,755,02014.85,346,65015.518,589,58015.711.3
20043,429,06015.73,871,31018.94,143,58018.54,627,49017.416,071,44017.710.1
20032,963,11013.43,256,30011.33,496,84012.93,940,22013.713,656,47012.910.0
20022,613,2909.12,924,5609.13,097,14010.33,465,21010.212,100,2009.79.1
20012,395,03012.92,679,58011.12,808,62010.23,143,8108.611,027,04010.58.3
20002,121,55010.12,412,88011.32,549,19011.52,894,0109.89,977,63010.68.4
19991,927,4507.22,168,3706.12,286,5105.82,636,4406.09,018,7706.27.6
19981,797,6708.12,042,7905.92,160,6706.22,487,2307.38,488,3606.97.8
19971,662,26014.11,929,84011.62,033,86010.22,316,9809.07,942,94011.09.2
19961,457,26020.81,728,62017.41,845,79015.12,125,56016.17,157,23017.19.9
19951,206,59029.21,472,78027.31,603,53025.61,830,07023.76,112,97026.111.0
1994933,78037.31,156,69037.41,276,45037.21,479,04034.54,845,96036.413.1
1993680,31030.0841,62028.8930,53030.61,099,97034.63,552,43031.213.9
1992523,480 653,680 712,250 817,430 2,706,840 14.3

Comparative data of three International organizations

List of China GDP by three International organizations
( in billions of GDP )
Year UN (GDP by Expenditure Approach)[9] WB[10] IMF[2]
CNY USD Exchange
rate
CNY USD Exchange
rate
CNY USD Exchange
rate
r201464,079.6410,430.596.143463,613.8710,354.836.143463,613.9010,356.516.1424
201358,973.729,518.406.195858,801.889,490.606.195858,801.889,490.856.1956
201253,474.468,471.436.312353,412.308,461.626.312353,412.308,461.516.3124
201148,086.077,441.986.461548,412.357,492.436.461548,412.357,492.536.4614
201040,658.096,005.396.770340,890.306,039.666.770340,890.306,039.556.7704
200934,643.115,071.156.831434,562.925,059.426.831434,562.925,059.726.8310
200831,717.204,564.516.948731,675.174,558.436.948731,675.174,558.906.9480
200726,948.643,542.367.607526,801.943,523.097.607526,801.943,523.287.6071
200621,942.462,751.947.973421,765.662,729.787.973421,765.662,729.757.9735
200518,776.722,291.438.194318,589.582,268.608.194318,589.582,268.628.1942
200416,161.641,952.648.276816,071.441,941.758.276816,071.441,941.758.2768
200313,745.731,660.718.277013,656.461,649.938.277013,656.461,649.928.2770
200212,157.671,468.868.277012,100.201,461.918.277012,100.201,461.928.2769
200111,065.741,336.928.277111,027.041,332.248.277111,027.041,332.258.2770
200010,008.011,208.928.27859,977.631,205.268.27849,977.631,205.268.2784
19999,044.731,092.598.27839,018.771,089.458.27839,018.771,089.458.2783
19988,517.441,028.818.27908,488.371,025.288.27918,488.371,025.308.2790
19977,973.92961.898.28987,942.95958.168.28987,942.95958.168.2898
19967,186.12864.328.31427,157.23860.848.31427,157.23860.848.3142
19956,132.89734.358.35146,112.98732.038.35076,112.98731.978.3514
19944,864.49564.418.61874,845.96562.268.61874,845.96562.288.6185
19933,575.12620.475.76203,552.43442.888.02133,552.43616.535.7620
19922,720.80493.385.51462,706.83424.936.37002,706.83490.855.5146
19912,201.41413.545.32342,189.55381.465.74002,189.55411.315.3234
19901,896.84396.564.78321,877.43358.975.23001,877.43392.514.7832
19891,727.01458.693.76511,709.03345.964.94001,709.03453.913.7651
19881,525.29409.793.72211,510.11310.724.86001,510.11405.723.7221
19871,222.18328.363.72211,210.22271.354.46001,210.22325.143.7221
19861,040.62301.393.45281,030.88298.813.45001,030.88298.563.4528
1985912.15310.612.9367903.99307.482.9400903.99307.832.9367
1984729.37314.382.3200722.63258.082.8000722.63311.472.3200
1983603.34305.381.9757597.56228.952.6100597.56302.461.9757
1982538.59284.591.8925533.30203.552.6200533.30281.791.8925
1981491.96288.621.7045489.81194.372.5200489.81287.361.7045
1980453.93302.941.4984455.16189.652.4000455.16303.761.4984
1979404.54260.151.5550406.77176.862.3000
1978360.56214.161.6836365.02148.382.4600

United Nations data

World Bank data

IMF data

Notes

  1. ^ the average exchange rate of CNY to USD is CNY 6.3125 per USD in 2012. also see List of CNY exchange rates.

See also

External links

References

  1. China Economic History
  2. 1 2 3 4 5 6 7 IMF WEO: from IMF: World Economic Outlook Databases - World Economic Outlook Database October 2015 (October 06, 2015)
  3. 1 2 the annual data of China'GDP: published on China NBS: National data - annual - national accounts - Cross Domestic Product; Figures for the current year 2015 are based on the Statistical Communiqué of the People's Republic of China on the 2015 National Economic and Social Development.
  4. 1 2 Searched the web China NBS about the third National Economic Census.
  5. Purchasing power parity (PPP) for Chinese yuan is estimate according to IMF WEO (October 06, 2015) data; Exchange rate of CN¥ to US$ is according to State Administration of Foreign Exchange, pubulished on China Statistical Yearbook.
  6. 1 2 Expenditure approach figures: according to China NBS - National Data - Annual - Indicators - National Accounts or China Statistical Yearbook 2015(ISBN 978-7-5037-6693-0/C•2752)
  7. 1 2 GDP by industries for 1978-2014: according to China NBS - National Data - Annual - Indicators - National Accounts or 'China Statistical Yearbook 2015
  8. Quarterly GDP figures are from China NBS Quarterly Data (old edition) or English (new)
  9. 1 2 3 4 5 United Nations data: from United Nations: National Accounts Main Aggregates Database - Latest Data Upload (December 2015)
  10. 1 2 3 4 5 World bank - WDI: from World bank / World Development Indicators (WDI): GDP at market prices (current US$) or GDP (current LCU)
  11. 1 2 3 4 5 6 7 8 9 Figures of the former Soviet Union: according to United Nations: National Accounts main aggregates database (loaded on December 2015).

Further reading

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