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The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database ...
China represented 1.61% of the world's economy in 1987 (lowest point), rising to 18.4% (nominal) and 19% (PPP) in 2022. It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point).
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [1] The figures are given or expressed in Millions of International Dollars at current prices.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
Russia exported twice as much liquefied petroleum gas to China in 2022, compared to 2021, and China’s crude oil imports from Russia hit 1.65 million barrels per day in March, making Beijing the ...
As Chinese citizens become wealthier, domestic consumption and services are playing a bigger share in China's economy. However, China is still more dependent on trade, at about 35% of GDP, than ...
The European Union's trade commissioner called for a more balanced economic relationship with China on Monday, noting an EU trade deficit of nearly 400 billion euros ($425 billion), while also ...
In 2020, China overtook the US in becoming the EU's largest trade partner in terms of goods. [42] Most of this trade is in industrial and manufactured goods. US is still EU's leading partner when services are included in the calculation. [43] Between 2009 and 2010 alone EU exports to China increased by 38% and China's exports to the EU ...