Historical GDP of the People's Republic of China


Historical GDP of the People's Republic 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 calculated at market or government official exchange rates (nominal) and derived from purchasing power parity (PPP) calculations. This article also includes historical GDP growth.

Chart showing GDP development trends of China and India.

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 - 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’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. 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. (www.people.com.cn).

Contents

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.[1]

As of 2010, China's nominal GDP is worth approximately 40.1 trillion Chinese yuan or 5.93 trillion US dollars, according to China NBS.

China's 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 2010, making China the world's second largest economy after the United States.

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

World bank WDI

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

IMF figures

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

References

  1. ^ IMF World Economic Outlook database
  2. ^ China NBS figures:figures of 1952-2008: Originated from China Statistical Yearbook 2010, 2009-2010 figures from China NSB Statistical Data. NSB 2009-revised -China GDP figure; NSB 2010-China GDP figure
  3. ^ United Nations figures
  4. ^ World Bank: GDP Data
  5. ^ IMF World Economic Outlook data:October 2010 WEO Database

See also


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