Historical GDP of the People's Republic of China
Encyclopedia
This article includes a list of China's
People's Republic of China
China , officially the People's Republic of China , is the most populous country in the world, with over 1.3 billion citizens. Located in East Asia, the country covers approximately 9.6 million square kilometres...

 historical gross domestic product
Gross domestic product
Gross domestic product refers to the market value of all final goods and services produced within a country in a given period. GDP per capita is often considered an indicator of a country's standard of living....

 (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 calculated at market or government official exchange rates (nominal) and derived from purchasing power parity
Purchasing power parity
In economics, purchasing power parity is a condition between countries where an amount of money has the same purchasing power in different countries. The prices of the goods between the countries would only reflect the exchange rates...

 (PPP) calculations. This article also includes historical GDP growth.
In 1985, the State Council of China (SCC) approved to establish a SNA (System of National Accounting), use the GDP to measure the national economy. China started the study of theoretical foundation, guiding, and accounting model etc., for establishing 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
Analysis of Chinese Macroeconomy
Analysis of Chinese Macroeconomy is a book written by , a Chinese economist.-Reception:The first edition was published in Chinese by People's Press. the first place winner of the annual Chinese National Book Award in 1987...

 - the key research project of the seventh Five-Year Plan of China, as well as completing and publishing the China GDP data by China's own research. The summary of the above 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
World Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...

’s method as a reference, and made the 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
Exchange rate
In finance, an exchange rate between two currencies is the rate at which one currency will be exchanged for another. It is also regarded as the value of one country’s currency in terms of another currency...

. 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
Material Product System
Material Product System refers to the system of national accounts used in the former Soviet Union and the Eastern Bloc countries, as well as in China until 1993 introduced the Western SNA system and GDP to China,...

 and SNA
United Nations System of National Accounts
The United Nations System of National Accounts is an international standard system of national accounts, the first international standard being published in 1953...

, 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
United Nations System of National Accounts
The United Nations System of National Accounts is an international standard system of national accounts, the first international standard being published in 1953...

” in August 1992, the Western SNA
United Nations System of National Accounts
The United Nations System of National Accounts is an international standard system of national accounts, the first international standard being published in 1953...

 system officially is introduced to China, replaced Soviet Union
Soviet Union
The Soviet Union , officially the Union of Soviet Socialist Republics , was a constitutionally socialist state that existed in Eurasia between 1922 and 1991....

's MPS
Material Product System
Material Product System refers to the system of national accounts used in the former Soviet Union and the Eastern Bloc countries, as well as in China until 1993 introduced the Western SNA system and GDP to China,...

 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
National Bureau of Statistics of China
The National Bureau of Statistics is an agency within the State Council of the People's Republic of China charged with the collection and publication of statistics related to the economy, population and society of the People's Republic of China at national and local levels.-List of Directors:*Xue...

 (NBS), in collaboration with Hitotsubashi University
Hitotsubashi University
is a national university specialised in the social sciences in Tokyo, Japan. The University has campuses in Kunitachi, Kodaira, and Kanda.Hitotsubashi is considered as one of the most prestigious universities in Japan. It is ranked 25th in the world in 2011 by École des Mines de Paris.Hitotsubashi...

 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
National Bureau of Statistics of China
The National Bureau of Statistics is an agency within the State Council of the People's Republic of China charged with the collection and publication of statistics related to the economy, population and society of the People's Republic of China at national and local levels.-List of Directors:*Xue...

 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. (www.people.com.cn).

Current status

As of 2010, China's nominal GDP is worth approximately 40.1 trillion Chinese yuan
Yuan
Yuan may refer to:* Chinese yuan, the basic unit of currency in China** Renminbi, the current currency used in the People's Republic of China, whose basic unit is Yuan...

 or 5.93 trillion US dollars, according to China NBS.

China's GDP surpassed that of Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...

 in 2000, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...

 in 2005, the United Kingdom
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

 in 2006 and that of Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...

 in 2007, before overtaking Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...

 in 2010, making China the world's second largest economy after the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

.

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 figures

China's Historical GDP figures of NBS
year GDP (in millions) GDP per capita
CNY
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...

USDgrowth rate(%)CNY
Renminbi
The Renminbi is the official currency of the People's Republic of China . Renminbi is legal tender in mainland China, but not in Hong Kong or Macau. It is issued by the People's Bank of China, the monetary authority of the PRC...

USDgrowth rate(%)
2010 40,120,200 5,926,600 10.4 29,992 4,430 9.9
2009 34,090,281 4,990,526 9.2 25,605 3,748 8.6
2008 31,404,543 4,521,827 9.6 23,708 3,414 9.1
2007 26,581,031 3,495,664 14.2 20,169 2,652 13.6
2006 21,631,443 2,713,495 12.7 16,500 2,070 12.0
2005 18,493,737 2,257,619 11.3 14,185 1,732 10.7
2004 15,987,834 1,931,644 10.1 12,336 1,490 9.4
2003 13,582,276 1,640,966 10.0 10,542 1,274 9.3
2002 12,033,269 1,453,820 9.1 9,398 1,135 8.4
2001 10,965,517 1,324,818 8.3 8,622 1,042 7.5
2000 9,921,455 1,198,475 8.4 7,858 949 7.6
1999 8,967,705 1,083,279 7.6 7,159 865 6.7
1998 8,440,228 1,019,462 7.8 6,796 821 6.8
1997 7,897,304 952,653 9.3 6,420 774 8.2
1996 7,117,659 856,085 10.0 5,846 703 8.9
1995 6,079,373 727,981 10.9 5,046 604 9.7
1994 4,819,786 559,224 13.1 4,044 469 11.8
1993 3,533,392 613,223 14.0 2,998 520 12.7
1992 2,692,348 488,222 14.2 2,311 419 12.8
1991 2,178,150 409,173 9.2 1,893 356 7.7
1990 1,866,782 390,279 3.8 1,644 344 2.3
1989 1,699,232 451,311 4.1 1,519 403 2.5
1988 1,504,282 404,149 11.3 1,366 367 9.5
1987 1,205,862 323,973 11.6 1,112 299 9.8
1986 1,027,518 297,590 8.8 963 279 7.2
1985 901,604 307,023 13.5 858 292 11.9
1984 720,805 309,757 15.2 695 299 13.7
1983 596,265 301,799 10.9 583 295 9.3
1982 532,335 281,287 9.1 528 279 7.5
1981 489,156 286,895 5.2 492 289 3.9
1980 454,562 303,446 7.8 463 309 6.5
1979 406,258 261,259 7.6 419 270 6.1
1978 364,522 216,462 11.7 381 226 10.2
1977 322,105 173,361 7.6 341 184 6.2
1976 296,147 152,575 -1.6 318 164 -3.1
1975 301,311 162,082 8.7 329 177 6.8
1974 280,374 142,975 2.3 311 159 0.2
1973 273,335 137,424 7.9 310 156 5.4
1972 253,022 112,705 3.8 294 131 1.2
1971 243,526 98,914 7.1 290 118 4.1
1970 226,132 19.4 276 16.1
1969 194,578 16.9 244 13.7
1968 173,016 -4.1 223 -6.6
1967 178,028 -5.7 236 -8.1
1966 187,308 10.7 255 7.7
1965 171,720 17.0 240 14.3
1964 145,554 18.3 208 15.5
1963 123,637 10.2 181 7.5
1962 115,124 -5.6 173 -6.4
1961 122,094 -27.3 185 -26.6
1960 145,747 -0.3 218 -0.5
1959 144,036 8.8 216 6.7
1958 130,821 21.3 200 18.3
1957 106,929 5.1 168 2.4
1956 102,898 15.0 166 12.7
1955 91,078 6.8 150 4.5
1954 85,938 4.2 144 1.8
1953 82,419 15.6 142 13.1
1952 67,900 119

United Nations figures

Comparison of China's historical GDP Perra rankings in the world by year
(United Nations figures, in millions)
year China GDP comparable country
former rank later rank
GDP(CNY) GDP(USD) rank country GDP(USD) rank country GDP(USD) rank
2009 34,050,690 4,984,426 3 5,068,997 2 3,330,030 4
2008 30,685,980 4,416,104 3 4,886,952 2 3,634,527 4
2007 26,309,380 3,458,333 3 4,377,961 2 3,329,147 4
2006 22,165,130 2,779,871 4 2,918,556 3 2,444,150 5
2005 18,869,210 2,302,719 4 2,788,390 3 2,280,112 5
2004 16,028,040 1,936,502 6 2,061,412 5 1,727,825 7
2003 13,639,880 1,647,918 6 1,799,946 5 1,507,113 7
2002 12,035,030 1,454,040 6 1,457,393 5 1,218,977 7
2001 10,897,240 1,316,558 6 1,339,751 5 1,117,348 7
2000 9,874,900 1,192,836 6 1,327,963 5 1,097,343 7
1999 9,112,500 1,100,776 7 1,200,787 6 661,251 8
1998 8,653,160 1,045,199 7 1,217,119 6 843,828 8
1997 8,165,850 985,046 7 1,192,354 6 871,201 8
1996 7,416,360 892,014 7 1,219,621 6 839,684 8
1995 6,321,690 756,960 8 768,951 7 596,754 9
1994 5,021,740 582,653 7 1,053,977 6 573,703 8
1993 3,693,810 641,069 7 981,162 6 563,676 8
1992 2,756,520 499,859 9 579,520 8 398,631 10
1991 2,257,740 424,117 10 560,377 9 374,154 11
1990 1,934,780 404,494 10 520,938 9 402,137 11
1989 1,731,130 459,782 9 555,517 8 402,726 10
1988 1,538,860 413,439 9 498,164 8 365,231 10
1987 1,227,740 329,851 9 421,533 8 309,478 10
1986 1,050,850 304,348 9 368,867 8 248,120 10
1985 907,670 309,083 9 355,708 8 226,460 10
1984 736,270 317,352 9 347,150 8 217,467 10
1983 621,620 314,637 9 333,804 8 219,555 10
1982 559,000 295,370 9 307,894 8 238,784 10
1981 500,880 293,852 9 300,666 8 292,179 10
1980 459,290 306,520 8 459,811 7 268,889 9
1979 409,260 263,190 8 379,299 7 238,664 9
1978 360,560 214,160 9 214,677 8 168,803 10
1977 320,190 172,347 9 207,789 8 148,672 10
1976 294,370 151,628 9 202,829 8 127,741 10
1975 299,730 161,162 9 170,692 8 111,435 10
1974 278,990 142,255 9 157,498 8 103,756 10
1973 272,090 136,769 8 169,088 7 128,945 9
1972 251,810 112,161 8 139,953 7 111,031 9
1971 242,640 98,562 8 120,124 7 97,475 9
1970 225,270 91,506 8 109,260 7 86,303 9

World bank WDI

Comparison of China's historical GDP rankings in the world by year
(World Bank WDI figures, in millions))
year China GDP comparable country
former rank later rank
GDP rank country GDP rank country GDP rank
2010 5,878,629 2 14,582,400 1 5,497,813 3
2009 4,985,461 3 5,068,996 2 3,330,032 4
2008 4,521,827 3 4,886,966 2 3,634,526 4
2007 3,494,056 3 4,377,944 2 3,329,145 4
2006 2,712,951 4 2,918,555 3 2,439,424 5
2005 2,256,903 5 2,280,114 4 2,146,530 6
2004 1,931,644 6 2,061,412 5 1,727,825 7
2003 1,640,959 6 1,800,016 5 1,507,171 7
2002 1,453,828 6 1,457,326 5 1,218,921 7
2001 1,324,805 6 1,339,763 5 1,117,358 7
2000 1,198,480 6 1,327,964 5 1,097,344 7
1999 1,083,278 7 1,200,822 6 661,265 8
1998 1,019,459 7 1,217,087 6 843,827 8
1997 952,653 7 1,192,322 6 871,200 8
1996 856,085 7 1,219,541 6 839,683 8
1995 728,007 8 768,951 7 596,751 9
1994 559,225 8 564,494 7 546,233 9
1993 440,501 9 509,819 7 438,300 10
1992 422,661 10 460,205 9 390,567 11
1991 379,469 11 407,338 10 329,965 12
1990 356,937 11 461,952 10 317,467 12
1989 343,974 11 402,706 10 301,853 12
1988 309,523 10 330,397 9 293,150 11
1987 270,372 11 276,004 10 226,988 12
1986 297,832 8 368,867 7 268,137 9
1985 306,667 8 355,704 7 229,941 9
1984 257,432 8 347,141 7 209,670 9
1983 228,456 8 333,809 7 215,169 9
1982 203,183 9 281,682 8 197,661 10
1981 194,111 11 196,915 10 190,454 12
1980 189,400 11 194,357 10 183,799 12
1979 176,635 10 208,366 9 166,429 11
1978 148,179 10 155,933 9 145,330 11
1977 172,349 9 176,171 8 128,601 10
1976 151,628 9 152,678 8 115,064 10
1975 161,162 8 170,685 7 123,709 9
1974 142,255 8 157,503 7 105,136 9
1973 136,770 7 169,084 6 128,943 8
1972 112,160 7 139,956 6 111,034 8
1971 98,562 7 120,120 6 97,474 8
1970 91,506 7 109,255 6 86,304 8
1969 78,719 6 97,085 5 77,888 7
1968 69,993 7 70,759 6 52,432 8
1967 72,057 6 81,133 5 64,769 7
1966 75,879 5 105,628 4 73,655 6
1965 69,709 5 90,950 4 67,978 6
1964 58,613 6 63,175 5 55,871 7
1963 50,280 6 57,711 5 47,880 7
1962 46,464 6 50,384 5 41,979 7
1961 50,101 5 53,509 4 44,843 6
1960 61,378 4 62,651 3 44,307 5

IMF figures

Comparison of China's historical GDP rankings in the world by year
(in millions, IMF figures)
year China GDP comparable country
former rank later rank
GDP(CNY) GDP(USD) rank country GDP(USD) rank country GDP(USD) rank
2010 39,845,830 5,885,130 2 14,624.18 1 5,390,900 3
2009 34,050,700 4,984,730 3 5,068.89 2 3,338,680 4
2008 31,404,540 4,519,950 3 4,886.95 2 3,651,620 4
2007 26,581,030 3,494,240 3 4,377.96 2 3,333,930 4
2006 21,631,440 2,712,920 4 2,921.27 3 2,447,680 5
2005 18,493,740 2,256,920 5 2,282.89 4 2,147,770 6
2004 15,987,830 1,931,650 6 2,060.58 5 1,730,100 7
2003 13,582,280 1,640,960 6 1,804.41 5 1,510,060 7
2002 12,033,270 1,453,830 6 1,463.46 5 1,223,240 7
2001 10,965,520 1,324,810 6 1,341.25 5 1,118,320 7
2000 9,921,460 1,198,480 6 1,333.28 5 1,100,560 7
1999 8,967,710 1,083,280 7 1,202.40 6 661,251 8
1998 8,440,230 1,019,480 7 1,218.67 6 841,296 8
1997 7,897,300 952,649 7 1,193.62 6 871,524 8
1996 7,117,660 856,084 7 1,220.85 6 840,052 8
1995 6,079,370 727,947 8 769.741 7 597,278 9
1994 4,819,790 559,224 9 564.478 8 516,718 10
1993 3,533,390 613,223 7 982.615 6 563,676 8
1992 2,692,350 488,222 9 579.52 8 426,519 10
1991 2,178,150 409,165 10 445.242 9 338,742 11
1990 1,866,780 390,279 10 507.784 9 328,199 11
1989 1,699,230 451,311 9 490.051 8 401,389 10
1988 1,504,280 404,149 8 498.164 7 363,913 9
1987 1,205,860 323,973 8 421.533 7 319,545 9
1986 1,027,520 297,590 8 368.867 7 293,580 9
1985 901,604 307,017 8 355.708 7 253,078 9
1984 720,805 310,686 8 347.15 7 221,783 9
1983 596,265 301,803 8 333.804 7 220,789 9
1982 532,335 281,280 8 307.894 7 207,326 9
1981 286,982 168,367 13 186.886 12 149,508 14
1980 303,364 202,458 10 222.436 9 182,472 11

See also

  • Economic history of the People's Republic of China
  • Economy of the People's Republic of China
    Economy of the People's Republic of China
    The People's Republic of China ranks since 2010 as the world's second largest economy after the United States. It has been the world's fastest-growing major economy, with consistent growth rates of around 10% over the past 30 years. China is also the largest exporter and second largest importer of...

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