China GDP ranks world’s 2nd but GNI still behind 124 countries | business | Hindustan Times
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China GDP ranks world’s 2nd but GNI still behind 124 countries

business Updated: Mar 25, 2011 10:53 IST

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China's gross domestic product (GDP) accounted for 9.5 per cent of the world's total in 2010, ranking second in the world, but its per capita gross national income (GNI) lagged behind 124 countries.

China's GDP was ranked the second in the world in 2010, up from the fifth in 2005, the National Bureau of Statistics (NBS) said.

China overtook Japan as the world's second largest economy, behind the US last year. The NBS also said that China's 2010 GDP was equal to 40.2 per cent of the figure of the United States, which is up from 2005's 17.9 per cent.

However, the per capita GDP of China still lagged behind most countries, it said. Citing an estimate of the World Bank, the NBS said China's per capita gross national income (GNI) reached USD 3,650 in 2009, lower than 124 other countries.

In 2005, 127 countries had higher per capita GNI than China. However, China's per capita GNI share of the world average jumped from 24.8 per cent in 2005 to 41.8 per cent in 2009, said the World Bank report.

In the meantime, China's overseas direct investment (ODI) in 2010 reached USD 59 billion, an increase of 380 per cent from 2005, the NBS said, according to state run Xinhua news agency.

Jumping from 18th in the world in 2005 to fifth in 2009, China's ODI accounted for 5.1 per cent of the world's total, up from the 1.4 per cent in 2005, NBS said.