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 68.55 trillion Chinese yuan or 11.01 trillion US dollars (SNA2008).[3][4] China's nominal GDP 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 1952 –present[4](SNA2008)[3]
(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)
p201568,550.6011,006.1319,437.056.949,9928,02714,1756.41,371,2206.22843.5268
r201464,397.4010,483.4018,052.657.347,2037,68413,2326.81,364,2706.14283.5672
201359,524.449,611.2616,621.837.843,8527,08112,2467.31,357,3806.19323.5811
201254,036.748,560.2815,203.637.940,0076,33811,2567.41,350,6956.31253.5542
201148,930.067,575.7213,958.089.536,4035,63610,3849.01,344,1306.45883.5055
201041,303.036,101.3412,473.3610.630,8764,5619,32410.11,337,7056.76953.3113
200934,908.145,110.2511,051.089.426,2223,8398,3018.91,331,2606.83103.1588
200831,951.554,600.5910,041.039.724,1213,4737,5809.11,324,6556.94513.1821
200727,023.233,553.828,944.2414.220,5052,6976,78713.61,317,8857.60403.0213
200621,943.852,752.687,608.3012.716,7382,1005,80312.11,311,0207.97182.8842
200518,731.892,286.696,533.6211.414,3681,7545,01210.71,303,7208.19172.8670
200416,184.021,955.355,708.8510.112,4871,5094,4059.41,296,0758.27682.8349
200313,742.201,660.295,038.2010.010,6661,2893,9109.31,288,4008.27702.7276
200212,171.741,470.554,496.899.19,5061,1493,5128.41,280,4008.27702.7067
200111,086.311,339.414,062.418.38,7171,0533,1947.51,271,8508.27702.7290
200010,028.011,211.353,668.298.57,9429592,9057.61,262,6458.27842.7337
19999,056.441,094.003,306.117.77,2298732,6396.81,252,7358.27832.7393
19988,519.551,029.043,023.157.86,8608292,4346.81,241,9358.27912.8181
19977,971.50961.602,772.799.26,4807822,2548.11,230,0758.28982.8749
19967,181.36863.752,495.529.95,8987092,0508.81,217,5508.31422.8777
19956,133.99734.522,231.9211.05,0916101,8529.81,204,8558.35102.7483
19944,863.75564.331,968.9713.04,0814731,65211.71,191,8358.61872.4702
19933,567.32619.111,701.1513.93,0275251,44412.61,178,4405.76202.0970
19922,719.45493.141,461.3614.22,3344231,25412.81,164,9705.51461.8609
19912,200.56413.381,250.189.31,9123591,0867.81,150,7805.32331.7602
19901,887.29394.571,102.783.91,6633489712.41,135,1854.78321.7114
19891,717.97456.291,023.334.21,5364089152.61,118,6503.76511.6788
19881,518.04407.85945.8211.21,3783708599.41,101,6303.72211.6050
19871,217.46327.09821.7811.71,1233027589.91,084,0353.72211.4815
19861,037.62300.52718.088.99732826737.31,066,7903.45281.4450
1985909.89309.84646.6413.486629561511.91,051,0402.93661.4071
1984727.85312.78552.2815.270230253313.71,036,8252.32701.3179
1983602.09304.75462.9710.85882984529.21,023,3101.97571.3005
1982537.34283.93401.879.05332823987.41,008,6301.89251.3371
1981493.58289.57349.125.14972913513.8993,8851.70451.4138
1980458.76306.17306.027.84683123126.5981,2351.49841.4991
1979410.05263.707.64232726.2969,0051.5550
1978367.87218.5011.738522910.2956,1651.6836
1977325.00174.947.63441856.1943,4601.8578
1976298.86153.94 -1.6321165-3.1930,6901.9414
1975303.95163.438.73321786.8916,4001.8598
1974282.77144.182.33141600.2900,3501.9612
1973275.62138.547.83131575.4881,9401.9894
1972255.24113.693.82961321.3862,0302.2451
1971245.6999.807.12921194.2841,1102.4618
1970227.9792.6019.327911316.1818,3202.4618
1969196.2279.7116.924610013.7796,0302.4618
1968174.4170.85-4.122591-6.6774,5102.4618
1967179.4272.88-5.723897-8.1754,5502.4618
1966188.8776.7210.72571047.7735,4002.4618
1965173.4070.4417.02429814.2715,1902.4618
1964146.9959.7118.22108515.5698,3602.4618
1963124.8350.7110.3183747.6682,3402.4618
1962116.2247.21-5.617571-6.4665,7702.4618
1961123.2350.06-27.318776-26.6660,3302.4618
1960147.0159.720.022090-0.2667,0702.4618
1959144.7555.319.0217836.9666,0102.6170
1958131.2350.4021.32017718.4653,2402.6040
1957107.1441.145.1168652.5637,4102.6040
1956103.0739.5815.01666412.6621,4702.6040
195591.1635.016.9150584.6608,6602.6040
195485.9833.024.3144551.9595,3102.6040
195382.4431.6615.61425413.5581,3902.6040
195267.9130.5511954568,9102.2227

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 (SNA2008)[3]
(Revision based on the 3rd Economic Census 2013,[6] in millions of CNY) [7]
year quarter 1 quarter 2 quarter 3 quarter 4 sum
GDPreal growth
% (YOY)
GDPreal growth
% (YOY)
GDPreal growth
% (YOY)
GDPreal growth
% (YOY)
GDPgrowth (%)
at current price
real growth
(%)
p201616,071,0206.717,992,6606.718,933,4006.752,997,1007.46.7
r201514,998,7707.016,765,1207.017,561,6006.919,225,0806.868,550,5806.46.9
r201414,061,8307.415,646,1307.516,571,1907.118,118,2507.264,397,4008.27.3
201312,974,7007.914,396,7007.615,290,5307.916,862,5107.759,524,44010.27.8
201211,759,3908.113,168,2507.613,862,2207.515,246,8908.154,036,74010.47.9
201110,464,13010.211,917,43010.012,698,1609.413,850,3308.848,930,06018.59.5
20108,761,67012.29,953,24010.810,623,8709.911,964,2509.941,303,03018.310.6
20097,405,3106.48,398,1308.29,001,41010.610,103,28011.934,908,1409.39.4
20086,941,04011.57,876,90010.98,254,1909.58,879,4307.131,951,55018.29.7
20075,717,70013.86,480,96015.06,952,43014.37,872,14013.927,023,23023.114.2
20064,707,89012.55,267,33013.75,606,47012.26,362,16012.521,943,85017.112.7
20054,045,33011.14,479,31011.14,804,78010.85,402,48012.418,731,89015.711.4
20043,454,46010.63,870,08011.64,185,5009.84,673,9808.816,184,02017.810.1
20032,982,55011.13,253,7309.13,529,19010.03,976,74010.013,742,20012.910.0
20022,629,5008.92,919,4808.83,125,7309.63,497,0309.112,171,7409.89.1
20012,408,6409.52,672,6608.62,833,3308.03,171,6807.511,086,31010.68.3
20002,132,9908.72,404,3409.12,571,2508.82,919,4307.510,028,01010.78.5
19991,936,1908.92,156,7707.92,305,0807.62,658,3906.79,056,4406.37.7
19981,804,9107.32,029,6606.92,177,5607.82,507,4209.18,519,5506.97.8
19971,668,91010.11,916,36010.02,050,0908.62,336,1508.67,971,50011.09.2
19961,462,80010.91,714,7509.41,860,5809.22,143,24010.37,181,36017.19.9
19951,211,17011.91,461,29011.01,616,41010.41,845,12010.86,133,99026.111.0
1994937,51014.11,148,10013.31,286,80013.11,491,33012.04,863,75036.313.0
1993683,46015.3835,70013.5938,58012.91,109,59014.13,567,32031.213.9
1992526,280648,430719,260825,4802,719,45013.2

Comparative data of three International organizations

List of China GDP by three International organizations
( in billions of GDP )
Year UN (GDP by Expenditure Approach)[8] WB[9] 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

Further reading

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