Indicators of economy in ChinaThe essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in China reached 10.435 US dollars per inhabitant, or 14,722.73 tn US Dollar in the whole country. China is one of the world's largest economies and is currently at rank 2. If this is calculated per inhabitant taking into account the purchasing power parity, then China is in the list of the world's richest countries in place 77.
Inflation in China was in 2021 at around 0.98%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 36.8% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.
Back to overview: China
Impact of the Covid-19 pandemic in 2020Overall, the gross domestic product in China in 2020 increased from 14,279.94 trillion US Dollar to 14,722.73 trillion US Dollar. Certainly, there have been shifts in numerous sectors of the economy, but a 3.1 percent increase has been rather unusual this year. While most countries have suffered significant losses, China has certainly held its own. The unemployment rate rose from 4.5 to 5.0 percent. The inflation rate has fallen from 2.9 percent previously to 2.4 percent by the end of 2020.
Unemployment rates in percent 1991 - 2021
Economic performance 2020
|GDP||14,722.73 tn USD||10,434.78 USD||15,291.93 tn USD||29,692.11 USD|
|Gross national product||14,879.88 tn USD||10,546.15 USD||15,330.84 tn USD||29,767.66 USD|
China ranked 16th in the Bloomberg Innovation Index in 2021. The index is calculated annually and most recently included 60 countries. The front-runner was South Korea. 291 of the 2000 largest listed companies in the world originate from China. This is determined annually in the Forbes Global 2000 list. The 10 largest companies in the country were in 2021:
Rank 1: ICBC (Beijing)
Rank 4: China Construction Bank (Beijing)
Rank 6: Ping An Insurance Group (Shenzhen)
Rank 9: Agricultural Bank of China (Beijing)
Rank 14: Bank of China (Beijing)
Rank 22: China Merchants Bank (Shenzhen)
Rank 23: Alibaba Group (Hangzhou)
Rank 28: Postal Savings Bank Of China (PSBC) (Beijing)
Rank 29: Tencent Holdings (Shenzhen)
Rank 48: Sinopec (Beijing)
GDP development in trillion US Dollar 1960 - 2020
Im- and Exports 2020
|Imports||2,362.69 bn USD||1,674.56 USD||7,340.01 bn USD||14,251.98 USD|
|Exports||2,732.37 bn USD||1,936.57 USD||7,939.04 bn USD||15,415.11 USD|
Development of imports and exports in billion US dollars 1982 - 2020