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CompareEconomy.com Comparison of world economies

China

World Rank 2 71.78 China flag svg
Capital
Area
Currency
Beijing
9,596,961 km 2
Renminbi (CNY)

Table of Contents

Introduction

One of the largest economies in the world - the People’s Republic of China is a nation located in East Asia. It is the most populous country in the world with one of the largest economies and imports that influence everyone. In terms of the total area, it has the third biggest land coverage that is around 9.5 million kilometers square. However, due to the largest population, it has much larger density than most of the countries considered as the most powerful ones.

Economy

There are several different rankings where China gets the first place overall. The last several years proved to be the most successful for the Chinese economy because it grew from several trillion to even dozens of trillion dollars. Obviously, if we think about China, we should remember about additional calculations that include the PPP factor.

With that in mind, the GDP in 2019 peaked at $23.5 trillion. Interestingly, it was one of the largest growths in the world in the last 40 years. The GDP was steadily growing to these enormous numbers since 1980. The last GDP growth in China was around 6%. If we compare that number to other great powers such as the US (2%) or Germany (0.5%), it is a gigantic GDP growth.

Although the country itself is incredibly wealthy, we need to remember about the wealthiness of the citizens. In that situation, the numbers are not as astonishing as in the case of the general GDP. The GDP per capita is only $10,000, which is incredibly low. For example, the US has GDP per capita at around $65,000, and Germany has around $46,000.

One of the key elements of China’s economy is export. It shows the value of goods and services that they transport to the foreign nations. China is leading the charts with the number of $2.6 trillion. Interestingly, it is only 18% of their GDP. In the case of imports of goods and services, we should also remember about a large number that estimates at around $2.475 trillion. It is 17% of their GDP.

Population

The gigantic population of China gives them the first place in the world. It is around 1.35 billion people. This number is so huge that China's share of the world population is as high as almost 20%. However, we should bear in mind that the level of illiteracy in China is around 8%.

Gross domestic product (GDP, GDP PPP)

Gross domestic product (GDP)

  • Last
  • Historical chart
#2 (2021)
17,734,062,645,371 US$

List of countries by GDP

(United States of America (USA))

Gross domestic product growth rate

Gross domestic product per capita

Gross domestic product (PPP)

Gross domestic product (PPP) per capita

International trade (Export, Import)

External balance on goods and services

  • Last
  • Historical chart
#1 (2021)
462,249,956,621 US$

List of countries by external balance on goods and services

(China)

External balance on goods and services (% of GDP)

Exports of goods and services (current US$)

Exports of goods and services (% of GDP)

Imports of goods and services (current US$)

Imports of goods and services (% of GDP)

Employment by sector, Unemployment

Unemployment (% of total labor force)

  • Last
  • Historical chart
#119 (2021)
4.55 %

List of countries by unemployment

(South Africa)

Employment in agriculture (% of total employment)

Employment in industry (% of total employment)

Employment in services (% of total employment)

Vulnerable employment (% of total employment)