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Economy of Belarus vs Indonesia compared: GDP & Debt

Updated on by Georank team

Belarus has a GDP of $76B compared to $1.4T for Indonesia, ranking 83/197 and 16/197 by economy size, respectively.

Belarus has $30.3B in government debt (39.9% of GDP), compared to $561B (40.2% of GDP) in Indonesia.

Belarus vs Indonesia GDP by year

Belarus
Indonesia
1x
Year GDP, current $
Belarus Indonesia
2024 $75,961,865,472 $1,396,300,098,191
2023 $72,478,760,370 $1,371,169,301,564
2022 $73,775,179,925 $1,319,101,183,380
2021 $69,673,747,132 $1,186,509,691,087
2020 $61,371,673,345 $1,059,054,842,698
2019 $64,410,170,653 $1,119,099,871,350
2018 $60,031,026,576 $1,042,271,532,989
2017 $54,725,405,751 $1,015,618,744,160
2016 $47,723,545,321 $931,877,364,038
2015 $56,454,769,845 $860,854,232,686
2014 $78,813,069,121 $890,814,755,534
2013 $75,527,558,966 $912,524,136,718
2012 $65,685,890,439 $917,869,913,333
2011 $61,762,382,328 $892,969,104,563
2010 $57,231,904,543 $755,094,157,622
2009 $50,873,167,326 $539,580,085,612
2008 $60,752,106,347 $510,228,634,992
2007 $45,275,711,996 $432,216,737,775
2006 $36,961,894,281 $364,570,515,618
2005 $30,210,091,837 $285,868,619,196
2004 $23,141,566,293 $256,836,875,295
2003 $17,825,444,724 $234,772,463,824
2002 $14,594,900,945 $195,660,611,165
2001 $12,354,820,144 $160,446,947,785
2000 $12,736,856,828 $165,021,012,078
1999 $12,138,486,532 $140,001,351,215
1998 $15,222,012,660 $95,445,547,873
1997 $14,128,408,566 $215,748,998,610
1996 $14,500,437,520 $227,369,679,375
1995 $13,972,683,274 $202,132,028,723
1994 $14,931,435,232 $176,892,143,932
1993 $16,275,073,527 $158,006,700,302
1992 $16,939,790,094 $128,026,966,580
1991 $18,404,907,975 $116,621,996,217
1990 $17,389,558,233 $106,140,727,334
1989 - $94,451,427,877
1988 - $84,300,174,486
1987 - $75,929,617,558
1986 - $79,954,072,545
1985 - $85,289,488,375
1984 - $84,853,700,028
1983 - $81,052,283,384
1982 - $90,158,449,295
1981 - $85,518,233,419
1980 - $72,482,337,397
1979 - $51,400,186,343
1978 - $51,455,719,076
1977 - $45,808,915,663
1976 - $37,269,156,627
1975 - $30,463,855,422
1974 - $25,802,409,639
1973 - $16,273,253,012
1972 - $10,997,590,361
1971 - $9,333,536,370
1970 - $9,150,684,932
1969 - $8,337,423,313
1968 - $7,076,465,300
1967 - $5,667,756,628

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/indonesia | CC BY

GDP per capita in Belarus vs Indonesia by year

Belarus
GDP per capita

GDP per capita, PPP
Indonesia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Belarus Indonesia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $8,318 $33,010 $4,925 $16,448
2023 $7,897 $30,834 $4,876 $15,416
2022 $7,995 $28,429 $4,731 $14,285
2021 $7,490 $27,611 $4,287 $12,757
2020 $6,543 $24,872 $3,854 $11,729
2019 $6,838 $22,302 $4,107 $11,986
2018 $6,360 $20,026 $3,861 $11,372
2017 $5,786 $18,414 $3,799 $10,688
2016 $5,040 $17,832 $3,521 $10,263
2015 $5,967 $18,134 $3,288 $10,028
2014 $8,341 $19,038 $3,441 $10,065
2013 $7,998 $19,014 $3,567 $9,866
2012 $6,953 $18,115 $3,632 $9,530
2011 $6,528 $16,563 $3,579 $8,937
2010 $6,035 $15,339 $3,066 $8,353
2009 $5,352 $14,034 $2,218 $7,868
2008 $6,376 $13,886 $2,125 $7,569
2007 $4,735 $12,320 $1,823 $7,096
2006 $3,848 $10,995 $1,558 $6,583
2005 $3,126 $9,637 $1,238 $6,134
2004 $2,378 $8,483 $1,127 $5,700
2003 $1,820 $7,362 $1,043 $5,353
2002 $1,479 $6,697 $881 $5,076
2001 $1,244 $6,238 $732 $4,849
2000 $1,276 $5,796 $764 $4,639
1999 $1,211 $5,331 $657 $4,386
1998 $1,511 $5,061 $455 $4,356
1997 $1,396 $4,596 $1,045 $5,037
1996 $1,427 $4,039 $1,119 $4,807
1995 $1,371 $3,846 $1,011 $4,451
1994 $1,460 $4,190 $900 $4,096
1993 $1,590 $4,641 $817 $3,793
1992 $1,658 $4,917 $674 $3,538
1991 $1,805 $5,330 $624 $3,305
1990 $1,707 $5,220 $578 $3,044
1989 - - $524 -
1988 - - $477 -
1987 - - $438 -
1986 - - $470 -
1985 - - $511 -
1984 - - $520 -
1983 - - $508 -
1982 - - $578 -
1981 - - $561 -
1980 - - $487 -
1979 - - $353 -
1978 - - $362 -
1977 - - $331 -
1976 - - $275.7 -
1975 - - $231.1 -
1974 - - $200.7 -
1973 - - $129.9 -
1972 - - $90.1 -
1971 - - $78.5 -
1970 - - $79.1 -
1969 - - $74.1 -
1968 - - $64.7 -
1967 - - $53.2 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/indonesia | CC BY

Belarus' GDP per capita is $8,318, ranking 92/197, compared to $4,925 in Indonesia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Belarus ranks 68th at $33,010, while Indonesia ranks 107th at $16,448.

Economic indicators

Belarus Indonesia
Gross domestic product
$76B
2024
$1.4T
2024
GDP rank
83/197
2024
16/197
2024
GDP growth
4.01%
2023-2024
5.03%
2023-2024
GDP per capita
$8,318
2024
$4,925
2024
GDP per capita rank
92/197
2024
121/197
2024
GDP per capita, PPP
$33,010
2024
$16,448
2024
GDP per capita PPP rank
68/197
2024
107/197
2024
Government debt
$30.3B
2024
$561B
2024
Debt-to-GDP ratio
39.9%
2024
40.2%
2024
Government debt per person
$3,318
2024
$1,978
2024
Government debt per person rank
97/185
2024
120/185
2024
Average annual personal income after taxes
$7,345
2026
$3,371
2026
Market capitalization of domestic companies
$6.01B
2024
$758B
2023
Number of millionaires n/a
178,605
2025
Number of billionaires n/a
33
2025
Income share by richest 10%
20.7%
2020
28.8%
2024
Income share by poorest 10%
4.5%
2020
3.5%
2024
Government expenditure, % of GDP
40.9%
2024
16.8%
2024
Consumer prices inflation
5.7%
2023-2024
2.18%
2023-2024
Central bank interest rate
9.75%
2025
4.75%
2025
Unemployment rate
3.04%
2024
3.31%
2023
Population
9013835
288551776

Spending and national debt comparison by year

Belarus
Spending

Debt
Indonesia
Spending

Debt
1x
Year % of GDP
Belarus Indonesia
Government spending Government debt Government spending Government debt
2024 40.9% 39.9% 16.8% 40.2%
2023 40.3% 40.7% 16.6% 39.6%
2022 38% 40.8% 17.3% 40.1%
2021 36.7% 41.2% 18.1% 41.1%
2020 38% 47.5% 18.4% 39.7%
2019 37.4% 41% 16.4% 30.6%
2018 37.8% 47.5% 16.6% 30.4%
2017 39% 53.2% 16.4% 29.4%
2016 40.7% 53.5% 16.9% 28%
2015 41.8% 53% 17.6% 27%
2014 38.8% 38.8% 18.4% 24.6%
2013 40.8% 36.9% 18.8% 24.9%
2012 38.9% 36.9% 18.8% 23%
2011 40.3% 58.2% 17.7% 23.1%
2010 44.3% 36.8% 16.9% 26.4%
2009 51.7% 32.5% 17% 26.5%
2008 60% 20.3% 19.4% 30.3%
2007 49.2% 15.8% 18.7% 38.1%
2006 47.2% 12.3% 18.4% 35.8%
2005 45% 8.12% 17.4% 42.6%
2004 44% 9.22% 17.8% 51.3%
2003 43.5% - 18.2% 55.6%
2002 43.8% - 16.9% 62.3%
2001 42.4% - 19.5% 73.7%
2000 - - 15.3% 87.4%
1999 - - 15.1% 95.9%
1998 - - 15.1% 72.5%
1997 - - 15.2% 26.4%
1996 - - 11.5% 27.5%
1995 - - 11.9% 32%
1994 - - 13.5% 37%
1993 - - 14.1% 40.4%
1992 - - 16.8% 42.6%
1991 - - 15% 39.2%
1990 - - 15.8% 40.8%
1989 - - 16.5% 42.5%
1988 - - 17.3% 45.6%
1987 - - 18% 49.7%
1986 - - 20.9% 38.3%
1985 - - 18.5% 28%
1984 - - 16.1% 23.5%
1983 - - 18.2% 23.1%
1982 - - 18.8% 18.6%
1981 - - 24.4% 16.4%
1980 - - 22.1% 17.3%
1979 - - 20.9% 22%
1978 - - 20.1% 30.3%
1977 - - 19.5% 27.7%
1976 - - 21.8% 38.1%
1975 - - 20.5% 36.7%
1974 - - 17.3% 34.4%
1973 - - 16.3% 43.1%
1972 - - 15.7% 51.2%
1971 - - 14.5% 50.5%
1970 - - 13.8% 46.7%
1969 - - 12.8% -
1968 - - 8.82% -
1967 - - 10.4% -
1966 - - 9.18% -
1965 - - 10.7% -
1964 - - 9.55% -
1963 - - 10.3% -
1962 - - 7.89% -
1961 - - 15.1% -
1960 - - 14.4% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1993–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

GeoRank.org/economy/belarus/indonesia | CC BY

In 2024, Belarus' government spending was $31.1B, accounting for 40.9% of its GDP, while Indonesia spent $235B, or 16.8% of GDP.

Debt-to-GDP ratio is 39.9% in Belarus and 40.2% in Indonesia, ranking 133/185 and 132/185, respectively.

Government deficit by year

Deficit/surplus
Belarus

Indonesia
1x
Year Deficit/surplus, % of GDP
Belarus Indonesia
2024 1.05% -2.3%
2023 0.76% -1.64%
2022 -1.98% -2.31%
2021 -0.22% -4.4%
2020 -2.87% -6.07%
2019 0.91% -2.09%
2018 1.8% -1.69%
2017 -0.34% -2.26%
2016 -1.66% -2.56%
2015 -2.96% -2.72%
2014 0.09% -1.8%
2013 -0.98% -1.96%
2012 0.36% -1.59%
2011 -2.81% -0.7%
2010 -4.19% -1.24%
2009 -7.23% -1.64%
2008 -10.9% 0.05%
2007 -7.82% -0.95%
2006 -7.71% 0.45%
2005 -6.71% 0.46%
2004 -7.06% -0.26%
2003 -6.74% -1.08%
2002 -7.81% -0.58%
2001 -4.74% -1.76%
2000 - -1.87%
1999 - -0.96%
1998 - -1.89%
1997 - -1.03%
1996 - 0.96%
1995 - 0.64%
1994 - 0.005%
1993 - -0.59%
1992 - -2.95%
1991 - -0.87%
1990 - -0.55%
1989 - -1.72%
1988 - -2.68%
1987 - -0.9%
1986 - -2.94%
1985 - -0.45%
1984 - 1.83%
1983 - -1%
1982 - -1.11%
1981 - -0.69%
1980 - -0.82%
1979 - -0.67%
1978 - -2.03%
1977 - -0.38%
1976 - -2.63%
1975 - -2.33%
1974 - -0.35%
1973 - -1.33%
1972 - -1.82%
1971 - -2.51%
1970 - -3.02%
1969 - -2.8%
1968 - 0%
1967 - -0.35%
1966 - -5.06%
1965 - -6.62%
1964 - -5.58%
1963 - -5.24%
1962 - -3.1%
1961 - -4.57%
1960 - -1.65%
1959 - -4.06%
1958 - -6.67%
1957 - -2.92%
1956 - -1.38%
1955 - -1.6%
1954 - -3.16%
1953 - -2.33%
1952 - -3.66%
1951 - 1.52%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1951–1992, retrieved 2026-02-20).

GeoRank.org/economy/belarus/indonesia | CC BY

In 2024, Belarus' government surplus, the difference between spending and revenue, was $796M, equivalent to 1.05% of GDP. This compares to Indonesia's deficit of $32.1B, or 2.3% of GDP.

Over the past 24 years, Belarus recorded a fiscal deficit in 18 of those years, while Indonesia ran a deficit in 21 years. On average, Belarus posted an annual deficit equal to 3.32% of GDP, compared to deficit of 1.69% of GDP for Indonesia.

Inflation comparison by year

Inflation
Belarus

Indonesia
1x
Year Consumer prices inflation
Belarus Indonesia
2024 5.7% 2.18%
2023 5% 3.67%
2022 15.2% 4.21%
2021 9.5% 1.56%
2020 5.5% 1.92%
2019 5.6% 3.03%
2018 4.9% 3.2%
2017 6% 3.81%
2016 11.8% 3.53%
2015 13.5% 6.36%
2014 18.1% 6.39%
2013 18.3% 6.41%
2012 59.2% 4.28%
2011 53.2% 5.36%
2010 7.7% 5.13%
2009 13% 4.39%
2008 14.8% 10.2%
2007 8.4% 6.41%
2006 7% 13.1%
2005 10.3% 10.5%
2004 18.1% 6.06%
2003 28.4% 6.76%
2002 42.6% 11.9%
2001 61.1% 11.5%
2000 168.6% 3.69%
1999 293.7% 20.5%
1998 73% 58.5%
1997 63.8% 6.23%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/belarus/indonesia | CC BY

Over the past 28 years, Belarus has recorded an average annual inflation rate of 37.2%, compared with 8.24% in Indonesia. In 2024, inflation was 5.7% in Belarus and 2.18% in Indonesia.

Top exports between countries

Belarus
Export category Export value
Raw materials & minerals $140M
Transport & tourism services $73M
Manufacturing & construction services $28M
Animal & marine products $4.33M
Wood & paper products $787K
Processed food, beverages & tobacco $404K
Machinery & equipment $341K
Business & finance services $227K
Raw agricultural goods $159K
IT & IP services $113K
Indonesia
Export category Export value
Machinery & equipment $39.6M
Processed food, beverages & tobacco $2.39M
Animal & marine products $1.78M
Raw materials & minerals $606K
Textiles & consumer goods $320K
Raw agricultural goods $172K
Precious metals & jewellery $42K
Metals $11K
Wood & paper products $8K
Chemicals & pharma $3K

Balance of trade

Belarus Indonesia
Current account balance
-$1.94B
2024
-$8.72B
2024
Current account balance ranking
142/190
2024
174/190
2024
Current account balance, % of GDP
-2.56%
2024
-0.62%
2024
Goods imports
$44.2B
2024
$223B
2024
Goods exports
$39.5B
2024
$263B
2024
Service imports
$6.82B
2024
$57.6B
2024
Service exports
$10.1B
2024
$39B
2024
Imports of goods and services, % of GDP
66.9%
2024
20.4%
2024
Exports of goods and services, % of GDP
65.1%
2024
22.2%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Belarus Indonesia
Economic freedom 49.1 65.1
Economic freedom ranking 166/197 67/197
Property rights 20 39.7
Government integrity 28.3 42
Judicial effectiveness 11.5 43.1
Tax burden 93.5 81.5
Government spending 52.6 91.4
Fiscal health 96.8 89.8
Business freedom 50.3 69.2
Labor freedom 48 56.8
Monetary freedom 69 79.4
Trade freedom 69.2 78.6
Investment freedom 30 50
Financial freedom 20 60

Economic freedom comparison by year

Belarus
Indonesia
1x
Year Economic freedom index
Belarus Indonesia
2026 49.1 65.1
2025 48.9 65.2
2024 48.4 63.5
2023 51 63.5
2022 53 64.4
2021 61 66.9
2020 61.7 67.2
2019 57.9 65.8
2018 58.1 64.2
2017 58.6 61.9
2016 48.8 59.4
2015 49.8 58.1
2014 50.1 58.5
2013 48 56.9
2012 49 56.4
2011 47.9 56
2010 48.7 55.5
2009 45 53.4
2008 45.3 53.2
2007 47 53.2
2006 47.5 51.9
2005 46.7 52.9
2004 43.1 52.1
2003 39.7 55.8
2002 39 54.8
2001 38 52.5
2000 41.3 55.2
1999 35.4 61.5
1998 38 63.4
1997 39.8 62
1996 38.7 61
1995 40.4 54.9

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/belarus/indonesia | CC BY

The Economic Freedom Index for Belarus is 49.1, ranking 166/197, compared to 65.1 for Indonesia, ranking 67/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Belarus Indonesia
Services, % of GDP
49.7%
2024
43.8%
2024
Industry, % of GDP
30.7%
2024
39.3%
2024
Agriculture, forestry, and fishing, % of GDP
6.87%
2024
12.6%
2024
GNI, Atlas method
$75.4B
2024
$1.39T
2024
GNI per capita, PPP
$32,300
2024
$16,010
2024
Total reserves including gold
$8.91B
2024
$156B
2024
Total reserves ranking
82/177
2024
20/177
2024
Net foreign direct investment
-$1.57B
2024
-$15.9B
2024
Net inflows of foreign direct investment
$1.74B
2024
$24.2B
2024
Net outflows of foreign direct investment
$170M
2024
$8.39B
2024
Servicing debt to the IMF, % of GNI
7.19%
2024
5.65%
2024
Poverty at national poverty lines
3.9%
2022
9%
2024
Gross capital formation, % of GDP
25.8%
2024
31.4%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/belarus/indonesia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1951–1999, retrieved 2026-02-20)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  5. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  6. TradeMap (2019–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.