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China GDP Annual Growth Rate

Last Release
Sep 30, 2024
Actual
4.6
Units In
%
Previous
4.7
Frequency
Quarterly
Next Release
N/A
Time to Release
N/A
Q4 21Q3 22Q2 23Q3 24048
Highest
Lowest
Average
Date Range
Source
18.3
Mar 2021
-6.8
Mar 2020
8.79 %1989-2024National Bureau of Statistics of China
In China, Gross Domestic Product is divided by three sectors: Primary, Secondary and Tertiary. The Primary Industry includes Farming, Forestry, Animal Husbandry, and Fishery and accounts for around 9 percent of GDP. The Secondary sector, which includes Industry (40 percent of GDP) and Construction (9 percent of GDP) is the most important. The Tertiary sector accounts for the remaining 44 percent of total output and consist of Wholesale and Retail Trades; Transport, Storage, and Post; Financial Intermediation; Real Estate; Hotel and Catering Services and Others.

Latest Updates

The Chinese economy expanded 4.6% yoy in Q3 of 2024, compared with market forecasts of 4.5% and a 4.7% rise in Q2. It marked the slowest annual growth rate since Q1 2023, amid persistent property weakness, shaky domestic demand, deflation risks, and trade frictions with the West. The latest figures came as Beijing had intensified stimulus measures to boost economic recovery and rebuild confidence. In September alone, there were some positive signs: industrial output and retail sales both saw their largest increases in four months, and the urban jobless rate fell to a three-month low of 5.1%. On the trade front, however, exports rose the least in five months while imports were sluggish. In the first three quarters of the year, the economy grew by 4.8%, compared with China’s full-year target of around 5%. During the period, fixed investment rose by 3.4% yoy, topping consensus of 3.3%.

China GDP Annual Growth Rate History

Last 12 readings
Q4 21Q1 22Q2 22Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23Q1 24Q2 24Q3 2402.004.006.008.00

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