The Chinese economy advanced 6.4 percent year-on-year in the December quarter of 2018, after a 6.5 percent growth in the previous quarter and matching market expectations. It was the lowest growth rate since the global financial crisis, amid intense trade dispute with the US, weakening domestic demand and alarming off-balance-sheet borrowings by local governments. Considering full 2018, the economy expanded 6.6 percent, the weakest pace since 1990. Previously, China's statistic bureau revised down the country's GDP growth for 2017 to 6.8 percent from 6.9 percent. GDP Annual Growth Rate in China averaged 9.55 percent from 1989 until 2018, reaching an all time high of 15.40 percent in the first quarter of 1993 and a record low of 3.80 percent in the fourth quarter of 1990.

GDP Annual Growth Rate in China is expected to be 6.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in China to stand at 6.30 in 12 months time. In the long-term, the China GDP Annual Growth Rate is projected to trend around 5.80 percent in 2020, according to our econometric models.

China GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-04-17 02:00 AM GDP Growth Rate YoY 6.8% 6.8% 6.8% 6.7%
2018-07-16 02:00 AM GDP Growth Rate YoY 6.7% 6.8% 6.7% 6.7%
2018-10-19 02:00 AM GDP Growth Rate YoY 6.5% 6.7% 6.6% 6.6%
2019-01-21 02:00 AM GDP Growth Rate YoY 6.4% 6.5% 6.4% 6.5%
2019-04-17 02:00 AM GDP Growth Rate YoY 6.4% 6.4%
2019-07-15 02:00 AM GDP Growth Rate YoY 6.4%
2019-10-18 02:00 AM GDP Growth Rate YoY 6.4%



China 2018 GDP Growth Weakest in 28 Years

The Chinese economy advanced 6.4 percent year-on-year in the December quarter of 2018, after a 6.5 percent growth in the previous quarter and matching market expectations. It was the lowest growth rate since the global financial crisis, amid intense trade dispute with the US, weakening domestic demand and alarming off-balance-sheet borrowings by local governments. Considering full 2018, the economy expanded 6.6 percent, the weakest pace since 1990.

The Chinese government set a 2018 growth target of around 6.5 percent. For 2017, Chinese statistic bureau revised down the country's GDP growth to 6.8 percent from 6.9 percent.

Considering the fourth quarter of 2018, the primary sector expanded 3.5 percent; the secondary 5.8 percent and the tertiary 7.4 percent.

On a quarter-on-quarter basis, the GDP advanced 1.5 percent, compared to a 1.6 percent expansion in the previous period and in line with market estimates. It was the weakest pace of quarterly expansion  in three quarters.

Considering full 2018, the primary sector went up 3.5 percent, down from 3.9 percent in 2017, mainly due to production of grain (-0.6 percent from 2017); and pork, beef, mutton and poultry (-0.3 percent).

Industrial output rose 6.2 percent, 0.4 percentage point lower than in 2017. Manufacturing advanced 6.5 percent, electricity, thermal power, gas and water supply grew by 9.9 percent and the mining sector went up 2.3 percent. The value added of the high-tech manufacturing, strategic emerging industries and equipment manufacturing increased by 11.7 percent, 8.9 percent and 8.1 percent, respectively over the previous year. 

The services sector increased 7.7 percent, slower than a 8.2 percent growth in 2017.

On the expenditure side, final consumption accounted for 76.2 percent of the GDP, with retail sales rising 9 percent, lower than 10.2 percent in 2017.

Capital formation accounted for 32.4 percent of the GDP, with property investment growing by 9.5 percent, 2.5 percentage points faster than the pace in 2017. Investment in residential buildings increased 13.4 percent, 0.4 percentage higher than in 2017 and accounting for 70.8 percent of real estate development investment. At the same time, fixed asset investment went up 5.9 percent, 1.3 percentage lower than in 2017. Private investment went up 8.7 percent, 2.7 percentage points faster than in 2017. Investment by the state holding enterprises edged up 1.9 percent.

Total trade grew 9.7 percent from 2017. Exports increased by 7.1 percent, while imports went up at a faster 12.9 percent.



Statistics China l Rida Husna | rida@tradingeconomics.com
1/21/2019 10:51:24 AM



China GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 1.60 2.40 1.40 percent [+]
GDP Annual Growth Rate 6.40 6.50 15.40 3.80 percent [+]
GDP 12237.70 11190.99 12237.70 47.21 USD Billion [+]
Gross National Product 824828.40 740598.70 824828.40 679.00 CNY HML [+]
Gross Fixed Capital Formation 346440.80 318083.60 346440.80 80.70 CNY HML [+]
GDP per capita 7329.09 6894.50 7329.09 132.00 USD [+]
GDP per capita PPP 15308.71 14400.90 15308.71 1526.40 USD [+]
GDP Constant Prices 900309.00 650898.80 900309.00 5262.80 CNY HML [+]
GDP From Agriculture 64734.00 42173.00 65467.60 649.30 CNY HML [+]
GDP From Construction 41590.00 25169.20 55689.00 181.90 CNY HML [+]
GDP From Manufacturing 222165.00 144656.40 279996.90 2207.80 CNY HML [+]
GDP From Services 469575.00 345773.00 469575.00 2212.70 CNY HML [+]
GDP From Transport 29556.00 19042.10 36802.70 393.20 CNY HML [+]


China GDP Annual Growth Rate

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. This page provides - China GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. China GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
6.40 6.50 15.40 3.80 1989 - 2018 percent Quarterly




Country Last Previous
India 7.10 Sep/18
China 6.40 Dec/18
Indonesia 5.17 Sep/18
United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Saudi Arabia 2.50 Sep/18
Netherlands 2.40 Sep/18
Spain 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Dec/18
Canada 2.10 Sep/18
South Korea 2.00 Sep/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
Russia 1.50 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -3.50 Sep/18


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