Question

• Research the GDP of China and provide figures for the latest year on how much each sector of the GDP (C, I, G and X-M) has contributed to the economy.
• Which sector contributed the most to the GDP? Explain briefly why you think that sector was the highest contributor
• Create a pie chart to show the individual contributions of each sector.

Answer 1

The Gross Domestic Product (GDP) of China was worth 14342.90 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. The GDP value of China represents 11.81 percent of the world economy. China 's GDP shows an increasing trend from 2015-2019.. GDP of China was increased from $11061.55 billion to $14342.9 billion. In 2018 GDP was estimated nearly $13894.82 billion. In 2017, it was about $12310.41 billion.

China is the world's largest agricultural economy with farming animal husbandary and fishing approximately 10% of its GDP. The service sector includes trades retail, post and many other industries of the nation is almost 50% of its GDP. Contribution of industry was about 39.9% of China 's GDP.

China 's focus on manufacturing left the service sector to its own devices for many years with most substantial barriers to trade and investment and every reason to circumvent them. The service sector growth has gotten the attention of government, which instituted a five year plan to prioritize the development of service economy along with trade in services