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Economy of Croatia vs Indonesia compared: GDP & Debt

Updated on by Georank team

Croatia has a GDP of $93B compared to $1.4T for Indonesia, ranking 75/197 and 16/197 by economy size, respectively.

Croatia has $53.5B in government debt (57.6% of GDP), compared to $561B (40.2% of GDP) in Indonesia.

Croatia vs Indonesia GDP by year

Croatia
Indonesia
1x
Year GDP, current $
Croatia Indonesia
2024 $92,983,810,329 $1,396,300,098,191
2023 $85,624,153,964 $1,371,169,301,564
2022 $71,196,498,671 $1,319,101,183,380
2021 $69,002,365,163 $1,186,509,691,087
2020 $57,959,843,541 $1,059,054,842,698
2019 $61,466,721,186 $1,119,099,871,350
2018 $61,667,925,219 $1,042,271,532,989
2017 $56,182,782,586 $1,015,618,744,160
2016 $52,650,714,172 $931,877,364,038
2015 $50,998,893,385 $860,854,232,686
2014 $59,606,934,501 $890,814,755,534
2013 $59,846,265,182 $912,524,136,718
2012 $57,548,115,904 $917,869,913,333
2011 $62,889,007,657 $892,969,104,563
2010 $58,975,205,417 $755,094,157,622
2009 $62,315,996,675 $539,580,085,612
2008 $68,472,854,617 $510,228,634,992
2007 $59,290,621,398 $432,216,737,775
2006 $49,583,544,860 $364,570,515,618
2005 $45,013,119,282 $285,868,619,196
2004 $41,836,292,157 $256,836,875,295
2003 $35,245,317,002 $234,772,463,824
2002 $26,757,722,429 $195,660,611,165
2001 $23,066,883,850 $160,446,947,785
2000 $22,134,411,297 $165,021,012,078
1999 $23,777,026,779 $140,001,351,215
1998 $25,890,228,430 $95,445,547,873
1997 $24,175,764,812 $215,748,998,610
1996 $24,150,978,347 $227,369,679,375
1995 $22,772,394,547 $202,132,028,723
1994 $15,062,911,617 $176,892,143,932
1993 $11,259,647,874 $158,006,700,302
1992 $10,621,169,291 $128,026,966,580
1991 $18,760,386,775 $116,621,996,217
1990 $25,650,213,280 $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/croatia/indonesia | CC BY

GDP per capita in Croatia vs Indonesia by year

Croatia
GDP per capita

GDP per capita, PPP
Indonesia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Croatia Indonesia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $24,050 $49,551 $4,925 $16,448
2023 $22,184 $47,760 $4,876 $15,416
2022 $18,466 $42,125 $4,731 $14,285
2021 $17,789 $36,930 $4,287 $12,757
2020 $14,808 $31,594 $3,854 $11,729
2019 $15,564 $33,064 $4,107 $11,986
2018 $15,460 $29,789 $3,861 $11,372
2017 $13,902 $27,888 $3,799 $10,688
2016 $12,820 $25,803 $3,521 $10,263
2015 $12,284 $23,750 $3,288 $10,028
2014 $14,187 $22,706 $3,441 $10,065
2013 $14,135 $22,430 $3,567 $9,866
2012 $13,508 $21,619 $3,632 $9,530
2011 $14,692 $21,191 $3,579 $8,937
2010 $13,730 $20,139 $3,066 $8,353
2009 $14,475 $20,358 $2,218 $7,868
2008 $15,888 $21,018 $2,125 $7,569
2007 $13,756 $19,568 $1,823 $7,096
2006 $11,501 $17,629 $1,558 $6,583
2005 $10,444 $15,451 $1,238 $6,134
2004 $9,719 $14,686 $1,127 $5,700
2003 $8,190 $13,692 $1,043 $5,353
2002 $6,220 $12,775 $881 $5,076
2001 $5,365 $11,653 $732 $4,849
2000 $4,954 $10,675 $764 $4,639
1999 $5,269 $9,943 $657 $4,386
1998 $5,713 $9,890 $455 $4,356
1997 $5,331 $9,536 $1,045 $5,037
1996 $5,300 $8,806 $1,119 $4,807
1995 $4,929 $8,052 $1,011 $4,451
1994 $3,238 $7,337 $900 $4,096
1993 $2,448 $6,861 $817 $3,793
1992 $2,321 $7,326 $674 $3,538
1991 $4,001 $7,918 $624 $3,305
1990 $5,369 $9,526 $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/croatia/indonesia | CC BY

Croatia's GDP per capita is $24,050, ranking 50/197, compared to $4,925 in Indonesia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Croatia ranks 46th at $49,551, while Indonesia ranks 107th at $16,448.

Economic indicators

Croatia Indonesia
Gross domestic product
$93B
2024
$1.4T
2024
GDP rank
75/197
2024
16/197
2024
GDP growth
3.83%
2023-2024
5.03%
2023-2024
GDP per capita
$24,050
2024
$4,925
2024
GDP per capita rank
50/197
2024
121/197
2024
GDP per capita, PPP
$49,551
2024
$16,448
2024
GDP per capita PPP rank
46/197
2024
107/197
2024
Government debt
$53.5B
2024
$561B
2024
Debt-to-GDP ratio
57.6%
2024
40.2%
2024
Government debt per person
$13,844
2024
$1,978
2024
Government debt per person rank
42/185
2024
120/185
2024
Average annual personal income after taxes
$20,856
2026
$3,371
2026
Market capitalization of domestic companies
$27.8B
2024
$758B
2023
Number of millionaires n/a
178,605
2025
Number of billionaires
1
2025
33
2025
Income share by richest 10%
23.3%
2023
28.8%
2024
Income share by poorest 10%
2.9%
2023
3.5%
2024
Government expenditure, % of GDP
48%
2024
16.8%
2024
Consumer prices inflation
2.97%
2023-2024
2.18%
2023-2024
Central bank interest rate n/a
4.75%
2025
Unemployment rate
5.03%
2024
3.31%
2023
Population
3812193
288551776

Spending and national debt comparison by year

Croatia
Spending

Debt
Indonesia
Spending

Debt
1x
Year % of GDP
Croatia Indonesia
Government spending Government debt Government spending Government debt
2024 48% 57.6% 16.8% 40.2%
2023 46.8% 61.8% 16.6% 39.6%
2022 45% 68.5% 17.3% 40.1%
2021 48.1% 78.2% 18.1% 41.1%
2020 53.7% 86.5% 18.4% 39.7%
2019 44.3% 70.9% 16.4% 30.6%
2018 44.9% 72.8% 16.6% 30.4%
2017 44.1% 76.2% 16.4% 29.4%
2016 45.9% 79.3% 16.9% 28%
2015 47.5% 82.8% 17.6% 27%
2014 48.7% 83.2% 18.4% 24.6%
2013 47.9% 79.5% 18.8% 24.9%
2012 47.3% 68.9% 18.8% 23%
2011 48.6% 63.1% 17.7% 23.1%
2010 48.1% 56.8% 16.9% 26.4%
2009 49.2% 47.9% 17% 26.5%
2008 46.3% 38.9% 19.4% 30.3%
2007 46.3% 37.1% 18.7% 38.1%
2006 44.6% 38.4% 18.4% 35.8%
2005 46.5% 40.9% 17.4% 42.6%
2004 49% 40% 17.8% 51.3%
2003 49.6% 37.8% 18.2% 55.6%
2002 49.2% 36.5% 16.9% 62.3%
2001 50.6% 36.6% 19.5% 73.7%
2000 54.6% 35.4% 15.3% 87.4%
1999 58.9% 30% 15.1% 95.9%
1998 56.8% 23.3% 15.1% 72.5%
1997 51.7% 22.5% 15.2% 26.4%
1996 52.1% - 11.5% 27.5%
1995 50.3% - 11.9% 32%
1994 45.4% - 13.5% 37%
1993 36% - 14.1% 40.4%
1992 37.1% - 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 (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Croatia's government spending was $44.6B, accounting for 48% of its GDP, while Indonesia spent $235B, or 16.8% of GDP.

Debt-to-GDP ratio is 57.6% in Croatia and 40.2% in Indonesia, ranking 86/185 and 132/185, respectively.

Government deficit by year

Deficit/surplus
Croatia

Indonesia
1x
Year Deficit/surplus, % of GDP
Croatia Indonesia
2024 -1.95% -2.3%
2023 -0.79% -1.64%
2022 0.12% -2.31%
2021 -2.58% -4.4%
2020 -7.23% -6.07%
2019 2.31% -2.09%
2018 0.23% -1.69%
2017 0.8% -2.26%
2016 -1.04% -2.56%
2015 -3.53% -2.72%
2014 -5.19% -1.8%
2013 -5.52% -1.96%
2012 -5.46% -1.59%
2011 -7.53% -0.7%
2010 -6.46% -1.24%
2009 -7.15% -1.64%
2008 -2.34% 0.05%
2007 -2.28% -0.95%
2006 -2.01% 0.45%
2005 -3.24% 0.46%
2004 -6.09% -0.26%
2003 -5.03% -1.08%
2002 -4.9% -0.58%
2001 -4.79% -1.76%
2000 -9.2% -1.87%
1999 -11.1% -0.96%
1998 -6.36% -1.89%
1997 -4.93% -1.03%
1996 -4.41% 0.96%
1995 -4.23% 0.64%
1994 -0.82% 0.005%
1993 -2.67% -0.59%
1992 -5.69% -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/croatia/indonesia | CC BY

In 2024, Croatia's government deficit, the difference between spending and revenue, was $1.82B, equivalent to 1.95% of GDP. This compares to Indonesia's deficit of $32.1B, or 2.3% of GDP.

Over the past 33 years, Croatia recorded a fiscal deficit in 29 of those years, while Indonesia ran a deficit in 27 years. On average, Croatia posted an annual deficit equal to 3.97% of GDP, compared to deficit of 1.46% of GDP for Indonesia.

Inflation comparison by year

Inflation
Croatia

Indonesia
1x
Year Consumer prices inflation
Croatia Indonesia
2024 2.97% 2.18%
2023 7.94% 3.67%
2022 10.8% 4.21%
2021 2.55% 1.56%
2020 0.15% 1.92%
2019 0.77% 3.03%
2018 1.5% 3.2%
2017 1.13% 3.81%
2016 -1.12% 3.53%
2015 -0.46% 6.36%
2014 -0.22% 6.39%
2013 2.22% 6.41%
2012 3.41% 4.28%
2011 2.27% 5.36%
2010 1.03% 5.13%
2009 2.38% 4.39%
2008 6.08% 10.2%
2007 2.9% 6.41%
2006 3.19% 13.1%
2005 3.32% 10.5%
2004 2.06% 6.06%
2003 1.77% 6.76%
2002 1.67% 11.9%
2001 3.78% 11.5%
2000 4.61% 3.69%
1999 4.02% 20.5%
1998 6.4% 58.5%
1997 4.17% 6.23%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Croatia has recorded an average annual inflation rate of 2.9%, compared with 8.24% in Indonesia. In 2024, inflation was 2.97% in Croatia and 2.18% in Indonesia.

Top exports between countries

Croatia
Export category Export value
Machinery & equipment $4.05M
Wood & paper products $1.65M
Transport & tourism services $1.16M
Chemicals & pharma $728K
Weapons & explosives $709K
Animal & marine products $538K
Processed food, beverages & tobacco $476K
Textiles & consumer goods $132K
Raw materials & minerals $121K
Raw agricultural goods $22K
Indonesia
Export category Export value
Processed food, beverages & tobacco $52.8M
Raw materials & minerals $45.4M
Wood & paper products $23.4M
Textiles & consumer goods $9.48M
Machinery & equipment $2.68M
Chemicals & pharma $1.26M
Animal & marine products $350K
Raw agricultural goods $325K
Precious metals & jewellery $213K
Metals $134K

Balance of trade

Croatia Indonesia
Current account balance
-$1.05B
2024
-$8.72B
2024
Current account balance ranking
125/190
2024
174/190
2024
Current account balance, % of GDP
-1.13%
2024
-0.62%
2024
Goods imports
$41.5B
2024
$223B
2024
Goods exports
$21.9B
2024
$263B
2024
Service imports
$8.35B
2024
$57.6B
2024
Service exports
$24.7B
2024
$39B
2024
Imports of goods and services, % of GDP
54.8%
2024
20.4%
2024
Exports of goods and services, % of GDP
50.1%
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.

Croatia Indonesia
Economic freedom 67.5 65.1
Economic freedom ranking 56/197 67/197
Property rights 81.1 39.7
Government integrity 52.6 42
Judicial effectiveness 71.7 43.1
Tax burden 70 81.5
Government spending 34.9 91.4
Fiscal health 92.2 89.8
Business freedom 79.6 69.2
Labor freedom 58.9 56.8
Monetary freedom 69.9 79.4
Trade freedom 79.4 78.6
Investment freedom 60 50
Financial freedom 60 60

Economic freedom comparison by year

Croatia
Indonesia
1x
Year Economic freedom index
Croatia Indonesia
2026 67.5 65.1
2025 68.7 65.2
2024 67.2 63.5
2023 66.4 63.5
2022 67.6 64.4
2021 63.6 66.9
2020 62.2 67.2
2019 61.4 65.8
2018 61 64.2
2017 59.4 61.9
2016 59.1 59.4
2015 61.5 58.1
2014 60.4 58.5
2013 61.3 56.9
2012 60.9 56.4
2011 61.1 56
2010 59.2 55.5
2009 55.1 53.4
2008 54.1 53.2
2007 53.4 53.2
2006 53.6 51.9
2005 51.9 52.9
2004 53.1 52.1
2003 53.3 55.8
2002 51.1 54.8
2001 50.7 52.5
2000 53.6 55.2
1999 53.1 61.5
1998 51.7 63.4
1997 46.7 62
1996 48 61
1995 - 54.9

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

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

The Economic Freedom Index for Croatia is 67.5, ranking 56/197, 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

Croatia Indonesia
Services, % of GDP
60.8%
2024
43.8%
2024
Industry, % of GDP
19.2%
2024
39.3%
2024
Agriculture, forestry, and fishing, % of GDP
2.9%
2024
12.6%
2024
GNI, Atlas method
$86B
2024
$1.39T
2024
GNI per capita, PPP
$49,740
2024
$16,010
2024
Total reserves including gold
$3.34B
2024
$156B
2024
Total reserves ranking
116/177
2024
20/177
2024
Net foreign direct investment
-$1.88B
2024
-$15.9B
2024
Net inflows of foreign direct investment
$4.54B
2024
$24.2B
2024
Net outflows of foreign direct investment
$2.79B
2024
$8.39B
2024
Servicing debt to the IMF, % of GNI n/a
5.65%
2024
Poverty at national poverty lines
20.3%
2023
9%
2024
Gross capital formation, % of GDP
24.4%
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/croatia/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 (2020–2024, 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.