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CEOWORLD magazine - Latest - Special Reports - Unpacking China’s GDP: Gross domestic product at current prices in China from 1980 to 2023

Special Reports

Unpacking China’s GDP: Gross domestic product at current prices in China from 1980 to 2023

China Flags

As of 2023, China’s nominal gross domestic product (GDP) was approximately 17.70 trillion US dollars. This puts China in the second position in the world GDP ranking, following the United States ($26.94 trillion). Germany ($4.42 trillion), Japan ($4.23 trillion), The United Kingdom, France, Italy, Brazil, and Canada complete the top ten list. Gross Domestic Product (GDP) is a key indicator of a nation’s overall economic size and power. GDP is generally defined as the total market value of all the finished goods and services produced within a country’s borders in a specific time period. GDP is by no means a perfect economic indicator.

Gross domestic product (GDP) of China 1980-2028

YearGDP (in billion U.S. dollars)
1980303.004
1981288.699
1982284.601
1983305.428
1984314.23
1985310.133
1986300.92
1987327.728
1988408.663
1989458.18
1990396.59
1991413.209
1992492.148
1993617.433
1994561.686
1995730.996
1996860.468
1997957.991
19981,024.17
19991,088.35
20001,205.53
20011,333.65
20021,465.83
20031,656.96
20041,949.45
20052,290.02
20062,754.15
20073,555.66
20084,577.28
20095,088.99
20106,033.83
20117,492.21
20128,539.58
20139,624.93
201410,524.24
201511,113.51
201611,226.90
201712,265.33
201813,841.81
201914,340.60
202014,862.56
202117,759.31
202217,886.33
202317,700.90
202418,560.01
202519,781.70
202621,059.83
202722,291.05
202823,608.86

For many years, the Western media and observers have discussed the potential rise of China and India in terms of their massive future potential. However, it is time for the rest of the world to update its thinking because the future has arrived even faster than expected. In the decades to come, the economies of China and India will go from participating in global economic flows to determining their shape and direction.

Throughout history, both China and India have made significant contributions to the global GDP, with each accounting for about a quarter to a third of it. This was largely due to their large populations. However, in the 19th century, there was a sudden shift when the United States and Europe experienced rapid industrialization, leading to an increase in productivity and, subsequently, a significant increase in their share of the global GDP.

The world's eight most influential economies throughout history

YearChinaIndiaUSAJapanGermanyRussia/USSRUKFranceRest of World
150024.8924.360.323.13.323.411.134.3935.07
160028.9722.410.182.93.823.451.814.731.76
170022.3124.460.144.153.684.362.895.2732.74
182032.9616.071.812.993.875.435.225.1126.53
187017.112.158.872.296.57.549.036.530.03
190011.068.6415.852.648.237.819.375.9230.47
19138.837.4718.932.628.688.58.225.2931.45
19504.594.1627.293.024.979.566.524.1335.75
19605.243.8824.274.456.62105.374.0936.09
19704.633.4122.397.366.129.824.354.337.61
19805.23.1821.127.835.528.533.644.0640.92
19907.834.0521.398.554.667.333.483.7838.93
200011.775.1821.892.114.243.513.33.444.59
201013.88616.7153.643.592.532.6146.04
202018.216.7615.683.993.393.082.272.2644.36

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CEOWORLD magazine - Latest - Special Reports - Unpacking China’s GDP: Gross domestic product at current prices in China from 1980 to 2023
Christina Miller
Associate News Editor at CEOWORLD Magazine. I lead the reporting team that covers US financial services and I write a business column for the opinion section. I write news pieces about the US and European market for start-ups and interview CEOs for our interview slot. I also presented one of the CEOWORLD magazine's early podcast hits, Money Stories, in which I persuadeded notable CEOs to share insights into the breaking news, moments of crisis and key decisions that enabled them to build successful international companies.