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China GDP Growth RateThe Gross Domestic Product (GDP) in China expanded 9.70 percent in the first quarter of 2011 over the same quarter last year. From 1989 until 2010, China's average quarterly GDP Growth was 9.31 percent reaching an historical high of 14.20 percent in December of 1992 and a record low of 3.80 percent in December of 1990. China's economy is the second largest in the world after that of the United States. During the past 30 years China's economy has changed from a centrally planned system that was largely closed to international trade to a more market-oriented that has a rapidly growing private sector. A major component supporting China's rapid economic growth has been exports growth. This page includes: China GDP Growth Rate chart, historical data and news.
Country | Indicator | Reference | Actual | Previous | Next Release | Impact |
China | GDP Growth Rate | Mar/2011 | 9.70 | 9.80 | | |
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China GDP Grows 9.7% in Q1
Published:
4/15/2011 9:23:00 AM
By:
TradingEconomics.com, RTT News
China's gross domestic product jumped 9.7 percent on year in the first quarter of 2011, the National Bureau of Statistics said on April 15.
Consumer prices for the month of March came in higher than expected at 5.4 percent - topping expectations for a rise of 5.2 percent after showing 4.9 percent in February.
Producer prices were up 7.3 percent on year in March, roughly in line with expectations for 7.2 percent - which would have been unchanged from the previous month.
Industrial production climbed an annual 14.8 percent, beating forecasts for a 14.0 percent increase following the 14.9 percent gain in February.
Retail sales jumped 17.4 percent on year, topping expectations for a rise of 16.5 percent on year after collecting 11.6 percent a month earlier.
On a seasonally adjusted quarterly basis, GDP rose 2.1 percent.
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China Economic News
China Inflation Rate Eases in April
Published: 5/11/2011 11:44:56 AM
By: TradingEconomics.com, RTT News
Inflation in China eased slightly in April from March's 32-month high, but still remained above the government's full year target of 4 percent.
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China's Trade Surplus Surges in April
Published: 5/10/2011 10:08:44 AM
By: TradingEconomics.com
China's trade surplus reached $11.4bn in April, nearly four times bigger than expected, with exports far exceeding imports.
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China's Inflation Raises 5.4% in March
Published: 4/15/2011 9:31:01 AM
By: TradingEconomics.com
Consumer prices rose 5.4 percent over a year ago, driven by 11.7 percent surge in food costs, data showed on April 15. That was up from February's 4.9 percent.
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China GDP Grows 9.7% in Q1
Published: 4/15/2011 9:23:00 AM
By: TradingEconomics.com, RTT News
China's gross domestic product jumped 9.7 percent on year in the first quarter of 2011, the National Bureau of Statistics said on April 15.
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China Returns to Trade Surplus in March
Published: 4/11/2011 6:23:34 PM
By: TradingEconomics.com
After recording a trade deficit in February, China returned to a trade surplus in March, attributed to stronger-than-expected export growth.
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China Raises Interest Rates
Published: 4/5/2011 2:02:58 PM
By: TradingEconomics.com, FT
China has raised interest rates for the fourth time in five months as the government struggles to reduce bank lending, rein in inflation and slow economic growth to a more sustainable pace.
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China Inflation Hits 4.9% in February
Published: 3/11/2011 10:08:31 AM
By: TradingEconomics.com, WSJ
China said inflation remained high in February, fueling further doubt about the government's ability to tackle what officials have called their main economic priority this year.
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China Reports Trade Deficit in February
Published: 3/10/2011 10:30:42 AM
By: TradingEconomics.com, WSJ
China reported a surprise trade deficit for February, its first in 11 months, as export growth slowed sharply and import growth remained strong in part because of rising prices for oil and other commodities.
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China's Inflation Rate Rises in Janaury
Published: 2/15/2011 11:34:25 AM
By: TradingEconomics.com
The consumer price index (CPI) in China increased to 4.9 percent in January year-on-year, the National Bureau of Statistics (NBS) said on February 15.
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China's Trade Surplus Shrinks in January
Published: 2/14/2011 12:27:09 PM
By: TradingEconomics.com, Xinhua
China's trade surplus fell to its lowest in nine months in January after imports surged.
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More news
GDP Growth Definition
Economic growth is the increase in value of the goods and services produced by an
economy. It is conventionally measured as the percent rate of increase in real gross
domestic product, or GDP. Growth is usually calculated in real terms, i.e. inflation-adjusted
terms, in order to net out the effect of inflation on the price of the goods and
services produced. In economics, "economic growth" or "economic growth theory" typically
refers to growth of potential output, i.e., production at "full employment," which
is caused by growth in aggregate demand or observed output.As economic growth is
measured as the annual percent change of National Income it has all the advantages
and drawbacks of that level variable. But people tend to attach a particular value
to the annual percentage change, perhaps since it tells them what happens to their
pay check.
The real GDP per capita of an economy is often used as an indicator of the average
standard of living of individuals in that country, and economic growth is therefore
often seen as indicating an increase in the average standard of living.However,
there are some problems in using growth in GDP per capita to measure general well
being.GDP per capita does not provide any information relevant to the distribution
of income in a country. GDP per capita does not take into account negative externalities
from pollution consequent to economic growth. Thus, the amount of growth may be
overstated once we take pollution into account. GDP per capita does not take into
account positive externalities that may result from services such as education and
health. GDP per capita excludes the value of all the activities that take place
outside of the market place (such as cost-free leisure activities like hiking).
Economists are well aware of these deficiencies in GDP, thus, it should always be
viewed merely as an indicator and not an absolute scale. Economists have developed
mathematical tools to measure inequality, such as the Gini Coefficient. There are
also alternate ways of measurement that consider the negative externalities that
may result from pollution and resource depletion (see Green Gross Domestic Product.)The
flaws of GDP may be important when studying public policy, however, for the purposes
of economic growth in the long run it tends to be a very good indicator. There is
no other indicator in economics which is as universal or as widely accepted as the
GDP.Economic growth is exponential, where the exponent is determined by the PPP
annual GDP growth rate. Thus, the differences in the annual growth from country
A to country B will multiply up over the years. For example, a growth rate of 5%
seems similar to 3%, but over two decades, the first economy would have grown by
165%, the second only by 80% (source: wikipedia).
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