In 2022, final consumption of the economy in China accounted for about 53.2 percent of the gross domestic product (GDP). The share of final consumption in the total GDP of China is expected to increase gradually in the upcoming years.
Level of consumption in China
Final consumption refers to the part of the GDP that is consumed, in contrast to what is invested or exported. In matured economies, final consumption often accounts for 70 or more percent of the total GDP. In developing countries, however, a significantly larger share may be spent on investments in infrastructure, real estate, and industrial capacities.
Since its economic opening up, China was among the countries with the highest ratio of spending on investment and the lowest on consumption. Especially since 2000, China spent increasing amounts of money on infrastructure and housing, while the share spent on consumption dropped to an all-time low. This was not only related to China’s rapid economic ascendence, but also to a large working-age population and a low dependency ratio.
Recent developments and outlook
As the rate of returns on investment has dropped gradually since the global financial crisis in 2008, China is trying to shift to a more consumption-driven growth model. Accordingly, the share of final consumption has increased since 2010. Although this trend was interrupted by the coronavirus pandemic, it will most probably continue in the future. Lower demand for new infrastructure and housing, as well as an aging population, are the main drivers of this development.
Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022
Characteristic
Consumption as share of GDP
2022
53.2%
2021
54.1%
2020
54.7%
2019
55.8%
2018
55.27%
2017
55.07%
2016
55.07%
2015
53.74%
2014
52.28%
2013
51.42%
2012
51.1%
2011
50.56%
2010
49.35%
2009
50.21%
2008
49.96%
2007
50.92%
2006
52.53%
2005
54.29%
2004
55.4%
2003
58.14%
2002
61.18%
2001
62.2%
2000
63.88%
1999
62.9%
1998
60.74%
1997
59.87%
1996
60.28%
1995
59.34%
1994
58.45%
1993
58.51%
1992
59.83%
1991
61.94%
1990
63.33%
1989
64.02%
1988
61.99%
1987
62.66%
1986
64.78%
1985
65.01%
1984
65.66%
1983
67.3%
1982
66.41%
1981
66.61%
1980
65.36%
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National Bureau of Statistics of China. (October 16, 2023). Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022 [Graph]. In Statista. Retrieved September 01, 2024, from https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/
National Bureau of Statistics of China. "Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022." Chart. October 16, 2023. Statista. Accessed September 01, 2024. https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/
National Bureau of Statistics of China. (2023). Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022. Statista. Statista Inc.. Accessed: September 01, 2024. https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/
National Bureau of Statistics of China. "Final Consumption as a Share of The Gross Domestic Product (Gdp) in China from 1980 to 2022." Statista, Statista Inc., 16 Oct 2023, https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/
National Bureau of Statistics of China, Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022 Statista, https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/ (last visited September 01, 2024)
Final consumption as a share of the gross domestic product (GDP) in China from 1980 to 2022 [Graph], National Bureau of Statistics of China, October 16, 2023. [Online]. Available: https://www.statista.com/statistics/1197099/china-final-consumption-as-share-of-gdp/