Sunday, June 21, 2015

China-India comparison

In terms of size of economy in nominal dollar terms, India today is where China was in 2005. (I'm not sure I have it in constant dollars).   In terms of growth rate, China was clocking 10-11% growth rates around 2005, India is today at 7.5-7.8%.  In terms of trade, China's exports of goods and services in 2005 were 37% of GDP (World Bank ).  India's today (2013) is 25.2% of GDP.  Incidentally, China's today (2013) is 26.4% of GDP.   China's foreign exchange reserves reached a trillion dollars in October 2006.  India's today are around $350 billion.  China was running huge trade surpluses, India is running at a deficit.

China's growth around 2005 was very much export-led.  I'm not sure how to characterize India's growth.

In 2005, China's domestic credit to the private sector was 113% of GDP.  Today (2013) India's is 52% of GDP. ( )