China’s Economic Performance (2020–2024): A Sectoral Index Analysis

Year : 2025 | Volume : 14 | Issue : 03 | Page : 26 38
    By

    Riyadh Senan,

  • K.Y.Ingale,

  1. Research Scholar, School of Mathematics Sciences, Swami Ramanand Teerth Marathwada University, Nanded, Maharashtra,
  2. Assistant Professor, Department of Statistics, Netaji Subhashchandra Bose College, Nanded, Maharashtra, India

Abstract

This study applies Laspeyres, Paasche, and Fisher ideal indices to China’s official 2020–2024 price and quantity data, quantifying sectoral inflation and real growth in agriculture, manufacturing, services, exports, and investment. Results show manufacturing experienced mild deflation (Laspeyres ≈ 98.7, implying ≈ 1.3% overall price decline) with a slight real output drop (~6.1%). A key driver was a sharp 21.4% fall in electric vehicle unit prices, despite +523% volume growth. Services expanded strongly (e.g. cloud computing +300%, e-commerce +72% volume) but with pronounced deflation (Fisher ≈ 80.2, ~19.8% price decline). Agriculture showed mild inflation (Fisher ≈ 101.6, ~1.6%), aided by price-support policies. Exports had modest deflation (Fisher ≈95.4) as surging EV and solar panel exports (+260%, +120%) offset falling unit prices. Overall, services account for ~56.7% of GDP, industry ~36.5%, and agriculture ~6.8%. These findings align with official reports of ~5% GDP growth in 2023–24stats.gov.cnchina-briefing.com. We conclude with policy recommendations to sustain high-tech expansion and address sectoral price imbalances. This study applies Laspeyres, Paasche, and Fisher ideal indices to China’s official 2020–2024 price and quantity data, quantifying sectoral inflation and real growth in agriculture, manufacturing, services, exports, and investment. Results show manufacturing experienced mild deflation (Laspeyres ≈ 98.7, implying ≈ 1.3% overall price decline) with a slight real output drop (~6.1%). A key driver was a sharp 21.4% fall in electric vehicle unit prices, despite +523% volume growth. Services expanded strongly (e.g. cloud computing +300%, e-commerce +72% volume) but with pronounced deflation (Fisher ≈ 80.2, ~19.8% price decline).

Keywords: China; GDP; laspeyres index; paasche index; Fisher ideal index; sectoral trends; price indices

[This article belongs to Research & Reviews : Journal of Statistics ]

How to cite this article:
Riyadh Senan, K.Y.Ingale. China’s Economic Performance (2020–2024): A Sectoral Index Analysis. Research & Reviews : Journal of Statistics. 2025; 14(03):26-38.
How to cite this URL:
Riyadh Senan, K.Y.Ingale. China’s Economic Performance (2020–2024): A Sectoral Index Analysis. Research & Reviews : Journal of Statistics. 2025; 14(03):26-38. Available from: https://journals.stmjournals.com/rrjost/article=2025/view=232545


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Regular Issue Subscription Original Research
Volume 14
Issue 03
Received 04/10/2025
Accepted 24/10/2025
Published 15/11/2025
Publication Time 42 Days
134

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