Historical GDP of China

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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).[old info]

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[edit]

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[edit]

Annual GDP[edit]

China's Historical GDP for 1952 –present[3](SNA2008)[4]
(purchasing power parity of Chinese Yuan, as Int'l.dollar based on IMF WEO April 2016[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)
p2015 68,550.60 11,006.13 19,437.05 6.9 49,992 8,027 14,175 6.4 1,371,220 6.2284 3.5268
r2014 64,397.40 10,483.40 18,052.65 7.3 47,203 7,684 13,232 6.8 1,364,270 6.1428 3.5672
2013 59,524.44 9,611.26 16,621.83 7.8 43,852 7,081 12,246 7.3 1,357,380 6.1932 3.5811
2012 54,036.74 8,560.28 15,203.63 7.9 40,007 6,338 11,256 7.4 1,350,695 6.3125 3.5542
2011 48,930.06 7,575.72 13,958.08 9.5 36,403 5,636 10,384 9.0 1,344,130 6.4588 3.5055
2010 41,303.03 6,101.34 12,473.36 10.6 30,876 4,561 9,324 10.1 1,337,705 6.7695 3.3113
2009 34,908.14 5,110.25 11,051.08 9.4 26,222 3,839 8,301 8.9 1,331,260 6.8310 3.1588
2008 31,951.55 4,600.59 10,041.03 9.7 24,121 3,473 7,580 9.1 1,324,655 6.9451 3.1821
2007 27,023.23 3,553.82 8,944.24 14.2 20,505 2,697 6,787 13.6 1,317,885 7.6040 3.0213
2006 21,943.85 2,752.68 7,608.30 12.7 16,738 2,100 5,803 12.1 1,311,020 7.9718 2.8842
2005 18,731.89 2,286.69 6,533.62 11.4 14,368 1,754 5,012 10.7 1,303,720 8.1917 2.8670
2004 16,184.02 1,955.35 5,708.85 10.1 12,487 1,509 4,405 9.4 1,296,075 8.2768 2.8349
2003 13,742.20 1,660.29 5,038.20 10.0 10,666 1,289 3,910 9.3 1,288,400 8.2770 2.7276
2002 12,171.74 1,470.55 4,496.89 9.1 9,506 1,149 3,512 8.4 1,280,400 8.2770 2.7067
2001 11,086.31 1,339.41 4,062.41 8.3 8,717 1,053 3,194 7.5 1,271,850 8.2770 2.7290
2000 10,028.01 1,211.35 3,668.29 8.5 7,942 959 2,905 7.6 1,262,645 8.2784 2.7337
1999 9,056.44 1,094.00 3,306.11 7.7 7,229 873 2,639 6.8 1,252,735 8.2783 2.7393
1998 8,519.55 1,029.04 3,023.15 7.8 6,860 829 2,434 6.8 1,241,935 8.2791 2.8181
1997 7,971.50 961.60 2,772.79 9.2 6,480 782 2,254 8.1 1,230,075 8.2898 2.8749
1996 7,181.36 863.75 2,495.52 9.9 5,898 709 2,050 8.8 1,217,550 8.3142 2.8777
1995 6,133.99 734.52 2,231.92 11.0 5,091 610 1,852 9.8 1,204,855 8.3510 2.7483
1994 4,863.75 564.33 1,968.97 13.0 4,081 473 1,652 11.7 1,191,835 8.6187 2.4702
1993 3,567.32 619.11 1,701.15 13.9 3,027 525 1,444 12.6 1,178,440 5.7620 2.0970
1992 2,719.45 493.14 1,461.36 14.2 2,334 423 1,254 12.8 1,164,970 5.5146 1.8609
1991 2,200.56 413.38 1,250.18 9.3 1,912 359 1,086 7.8 1,150,780 5.3233 1.7602
1990 1,887.29 394.57 1,102.78 3.9 1,663 348 971 2.4 1,135,185 4.7832 1.7114
1989 1,717.97 456.29 1,023.33 4.2 1,536 408 915 2.6 1,118,650 3.7651 1.6788
1988 1,518.04 407.85 945.82 11.2 1,378 370 859 9.4 1,101,630 3.7221 1.6050
1987 1,217.46 327.09 821.78 11.7 1,123 302 758 9.9 1,084,035 3.7221 1.4815
1986 1,037.62 300.52 718.08 8.9 973 282 673 7.3 1,066,790 3.4528 1.4450
1985 909.89 309.84 646.64 13.4 866 295 615 11.9 1,051,040 2.9366 1.4071
1984 727.85 312.78 552.28 15.2 702 302 533 13.7 1,036,825 2.3270 1.3179
1983 602.09 304.75 462.97 10.8 588 298 452 9.2 1,023,310 1.9757 1.3005
1982 537.34 283.93 401.87 9.0 533 282 398 7.4 1,008,630 1.8925 1.3371
1981 493.58 289.57 349.12 5.1 497 291 351 3.8 993,885 1.7045 1.4138
1980 458.76 306.17 306.02 7.8 468 312 312 6.5 981,235 1.4984 1.4991
1979 410.05 263.70 7.6 423 272 6.2 969,005 1.5550
1978 367.87 218.50 11.7 385 229 10.2 956,165 1.6836
1977 325.00 174.94 7.6 344 185 6.1 943,460 1.8578
1976 298.86 153.94 -1.6 321 165 -3.1 930,690 1.9414
1975 303.95 163.43 8.7 332 178 6.8 916,400 1.8598
1974 282.77 144.18 2.3 314 160 0.2 900,350 1.9612
1973 275.62 138.54 7.8 313 157 5.4 881,940 1.9894
1972 255.24 113.69 3.8 296 132 1.3 862,030 2.2451
1971 245.69 99.80 7.1 292 119 4.2 841,110 2.4618
1970 227.97 92.60 19.3 279 113 16.1 818,320 2.4618
1969 196.22 79.71 16.9 246 100 13.7 796,030 2.4618
1968 174.41 70.85 -4.1 225 91 -6.6 774,510 2.4618
1967 179.42 72.88 -5.7 238 97 -8.1 754,550 2.4618
1966 188.87 76.72 10.7 257 104 7.7 735,400 2.4618
1965 173.40 70.44 17.0 242 98 14.2 715,190 2.4618
1964 146.99 59.71 18.2 210 85 15.5 698,360 2.4618
1963 124.83 50.71 10.3 183 74 7.6 682,340 2.4618
1962 116.22 47.21 -5.6 175 71 -6.4 665,770 2.4618
1961 123.23 50.06 -27.3 187 76 -26.6 660,330 2.4618
1960 147.01 59.72 0.0 220 90 -0.2 667,070 2.4618
1959 144.75 55.31 9.0 217 83 6.9 666,010 2.6170
1958 131.23 50.40 21.3 201 77 18.4 653,240 2.6040
1957 107.14 41.14 5.1 168 65 2.5 637,410 2.6040
1956 103.07 39.58 15.0 166 64 12.6 621,470 2.6040
1955 91.16 35.01 6.9 150 58 4.6 608,660 2.6040
1954 85.98 33.02 4.3 144 55 1.9 595,310 2.6040
1953 82.44 31.66 15.6 142 54 13.5 581,390 2.6040
1952 67.91 30.55 119 54 568,910 2.2227

GDP by Expenditure Approach[edit]

GDP by Industries[edit]

Quarterly GDP[edit]

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,[8] in millions of CNY) [9]
year quarter 1 quarter 2 quarter 3 quarter 4 sum
GDP growth (%)
at current price
GDP growth (%)
at current price
GDP growth (%)
at current price
GDP growth (%)
at current price
GDP growth (%)
at current price
real growth
(%)
p2015 14,796,180 6.6 16,621,640 7.1 17,359,530 6.2 18,937,200 6.0 67,670,800 6.4 6.9
r2014 13,873,800 8.3 15,520,100 8.5 16,346,700 8.5 17,873,280 7.6 63,591,000 8.1 7.3
2013 12,808,350 10.3 14,303,180 9.4 15,071,980 10.2 16,618,360 10.4 58,801,870 10.1 7.7
2012 11,614,790 12.3 13,076,580 10.4 13,672,290 9.1 15,048,640 9.9 53,412,300 10.3 7.7
2011 10,345,690 19.3 11,846,500 19.6 12,527,930 19.4 13,692,230 15.8 48,412,350 18.4 9.5
2010 8,668,430 18.3 9,905,980 18.5 10,495,060 18.0 11,820,820 18.4 40,890,290 18.3 10.6
2009 7,328,360 6.6 8,361,420 6.5 8,892,350 8.9 9,980,800 13.7 34,562,930 9.1 9.2
2008 6,877,840 21.3 7,853,760 21.5 8,161,950 18.7 8,781,630 12.7 31,675,180 18.2 9.6
2007 5,668,660 21.4 6,464,890 23.0 6,878,950 24.0 7,789,430 23.7 26,801,930 23.1 14.2
2006 4,667,830 16.3 5,256,040 17.5 5,546,780 16.7 6,295,010 17.7 21,765,660 17.1 12.7
2005 4,013,090 17.0 4,474,820 15.6 4,755,020 14.8 5,346,650 15.5 18,589,580 15.7 11.3
2004 3,429,060 15.7 3,871,310 18.9 4,143,580 18.5 4,627,490 17.4 16,071,440 17.7 10.1
2003 2,963,110 13.4 3,256,300 11.3 3,496,840 12.9 3,940,220 13.7 13,656,470 12.9 10.0
2002 2,613,290 9.1 2,924,560 9.1 3,097,140 10.3 3,465,210 10.2 12,100,200 9.7 9.1
2001 2,395,030 12.9 2,679,580 11.1 2,808,620 10.2 3,143,810 8.6 11,027,040 10.5 8.3
2000 2,121,550 10.1 2,412,880 11.3 2,549,190 11.5 2,894,010 9.8 9,977,630 10.6 8.4
1999 1,927,450 7.2 2,168,370 6.1 2,286,510 5.8 2,636,440 6.0 9,018,770 6.2 7.6
1998 1,797,670 8.1 2,042,790 5.9 2,160,670 6.2 2,487,230 7.3 8,488,360 6.9 7.8
1997 1,662,260 14.1 1,929,840 11.6 2,033,860 10.2 2,316,980 9.0 7,942,940 11.0 9.2
1996 1,457,260 20.8 1,728,620 17.4 1,845,790 15.1 2,125,560 16.1 7,157,230 17.1 9.9
1995 1,206,590 29.2 1,472,780 27.3 1,603,530 25.6 1,830,070 23.7 6,112,970 26.1 11.0
1994 933,780 37.3 1,156,690 37.4 1,276,450 37.2 1,479,040 34.5 4,845,960 36.4 13.1
1993 680,310 30.0 841,620 28.8 930,530 30.6 1,099,970 34.6 3,552,430 31.2 13.9
1992 523,480 653,680 712,250 817,430 2,706,840 14.3

Comparative data of three International organizations[edit]

List of China GDP by three International organizations
( in billions of GDP )
Year UN (GDP by Expenditure Approach)[10] WB[11] IMF[2]
CNY USD Exchange
rate
CNY USD Exchange
rate
CNY USD Exchange
rate
r2014 64,079.64 10,430.59 6.1434 63,613.87 10,354.83 6.1434 63,613.90 10,356.51 6.1424
2013 58,973.72 9,518.40 6.1958 58,801.88 9,490.60 6.1958 58,801.88 9,490.85 6.1956
2012 53,474.46 8,471.43 6.3123 53,412.30 8,461.62 6.3123 53,412.30 8,461.51 6.3124
2011 48,086.07 7,441.98 6.4615 48,412.35 7,492.43 6.4615 48,412.35 7,492.53 6.4614
2010 40,658.09 6,005.39 6.7703 40,890.30 6,039.66 6.7703 40,890.30 6,039.55 6.7704
2009 34,643.11 5,071.15 6.8314 34,562.92 5,059.42 6.8314 34,562.92 5,059.72 6.8310
2008 31,717.20 4,564.51 6.9487 31,675.17 4,558.43 6.9487 31,675.17 4,558.90 6.9480
2007 26,948.64 3,542.36 7.6075 26,801.94 3,523.09 7.6075 26,801.94 3,523.28 7.6071
2006 21,942.46 2,751.94 7.9734 21,765.66 2,729.78 7.9734 21,765.66 2,729.75 7.9735
2005 18,776.72 2,291.43 8.1943 18,589.58 2,268.60 8.1943 18,589.58 2,268.62 8.1942
2004 16,161.64 1,952.64 8.2768 16,071.44 1,941.75 8.2768 16,071.44 1,941.75 8.2768
2003 13,745.73 1,660.71 8.2770 13,656.46 1,649.93 8.2770 13,656.46 1,649.92 8.2770
2002 12,157.67 1,468.86 8.2770 12,100.20 1,461.91 8.2770 12,100.20 1,461.92 8.2769
2001 11,065.74 1,336.92 8.2771 11,027.04 1,332.24 8.2771 11,027.04 1,332.25 8.2770
2000 10,008.01 1,208.92 8.2785 9,977.63 1,205.26 8.2784 9,977.63 1,205.26 8.2784
1999 9,044.73 1,092.59 8.2783 9,018.77 1,089.45 8.2783 9,018.77 1,089.45 8.2783
1998 8,517.44 1,028.81 8.2790 8,488.37 1,025.28 8.2791 8,488.37 1,025.30 8.2790
1997 7,973.92 961.89 8.2898 7,942.95 958.16 8.2898 7,942.95 958.16 8.2898
1996 7,186.12 864.32 8.3142 7,157.23 860.84 8.3142 7,157.23 860.84 8.3142
1995 6,132.89 734.35 8.3514 6,112.98 732.03 8.3507 6,112.98 731.97 8.3514
1994 4,864.49 564.41 8.6187 4,845.96 562.26 8.6187 4,845.96 562.28 8.6185
1993 3,575.12 620.47 5.7620 3,552.43 442.88 8.0213 3,552.43 616.53 5.7620
1992 2,720.80 493.38 5.5146 2,706.83 424.93 6.3700 2,706.83 490.85 5.5146
1991 2,201.41 413.54 5.3234 2,189.55 381.46 5.7400 2,189.55 411.31 5.3234
1990 1,896.84 396.56 4.7832 1,877.43 358.97 5.2300 1,877.43 392.51 4.7832
1989 1,727.01 458.69 3.7651 1,709.03 345.96 4.9400 1,709.03 453.91 3.7651
1988 1,525.29 409.79 3.7221 1,510.11 310.72 4.8600 1,510.11 405.72 3.7221
1987 1,222.18 328.36 3.7221 1,210.22 271.35 4.4600 1,210.22 325.14 3.7221
1986 1,040.62 301.39 3.4528 1,030.88 298.81 3.4500 1,030.88 298.56 3.4528
1985 912.15 310.61 2.9367 903.99 307.48 2.9400 903.99 307.83 2.9367
1984 729.37 314.38 2.3200 722.63 258.08 2.8000 722.63 311.47 2.3200
1983 603.34 305.38 1.9757 597.56 228.95 2.6100 597.56 302.46 1.9757
1982 538.59 284.59 1.8925 533.30 203.55 2.6200 533.30 281.79 1.8925
1981 491.96 288.62 1.7045 489.81 194.37 2.5200 489.81 287.36 1.7045
1980 453.93 302.94 1.4984 455.16 189.65 2.4000 455.16 303.76 1.4984
1979 404.54 260.15 1.5550 406.77 176.86 2.3000
1978 360.56 214.16 1.6836 365.02 148.38 2.4600

United Nations data[edit]

World Bank data[edit]

IMF data[edit]

Notes[edit]

  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[edit]

External links[edit]

References[edit]

  1. ^ China Economic History
  2. ^ a b c d e f g IMF WEO: from IMF: World Economic Outlook Databases - World Economic Outlook Database October 2015 (October 06, 2015)
  3. ^ a b 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. ^ China NBS Announcement: GDP Revision according to SNA2008 (Chinese), China revises Historical GDP according to SNA2008
  5. ^ Purchasing power parity (PPP) for Chinese yuan is estimate according to IMF WEO (April 2016) data; Exchange rate of CN¥ to US$ is according to State Administration of Foreign Exchange, pubulished on China Statistical Yearbook.
  6. ^ a b 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. ^ a b GDP by industries for 1978-2014: according to China NBS - National Data - Annual - Indicators - National Accounts or 'China Statistical Yearbook 2015
  8. ^ Searched the web China NBS about the third National Economic Census.
  9. ^ Quarterly GDP figures are from China NBS Quarterly Data (old edition) or English (new)
  10. ^ a b c d e United Nations data: from United Nations: National Accounts Main Aggregates Database - Latest Data Upload (December 2015)
  11. ^ a b c d e World bank - WDI: from World bank / World Development Indicators (WDI): GDP at market prices (current US$) or GDP (current LCU)
  12. ^ a b c d e f g h i Figures of the former Soviet Union: according to United Nations: National Accounts main aggregates database (loaded on December 2015).

Further reading[edit]

  • Ta-Chung Liu, Kung-Chia Yeh: The Economy of the Chinese Mainland. National Income and Economic Development, 1933-1959. Princeton N. J. Princeton University Press