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Economy of Eritrea vs Indonesia compared: GDP & Debt

Updated on by Georank team

Eritrea has a GDP of $2.07B compared to $1.4T for Indonesia, ranking 179/197 and 16/197 by economy size, respectively.

Eritrea has $3.54B in government debt (260.4% of GDP), compared to $561B (40.2% of GDP) in Indonesia.

Eritrea vs Indonesia GDP by year

Eritrea
Indonesia
1x
Year GDP, current $
Eritrea Indonesia
2024 - $1,396,300,098,191
2023 - $1,371,169,301,564
2022 - $1,319,101,183,380
2021 - $1,186,509,691,087
2020 - $1,059,054,842,698
2019 - $1,119,099,871,350
2018 - $1,042,271,532,989
2017 - $1,015,618,744,160
2016 - $931,877,364,038
2015 - $860,854,232,686
2014 - $890,814,755,534
2013 - $912,524,136,718
2012 - $917,869,913,333
2011 $2,065,001,626 $892,969,104,563
2010 $1,589,515,447 $755,094,157,622
2009 $1,856,695,551 $539,580,085,612
2008 $1,380,188,800 $510,228,634,992
2007 $1,317,974,491 $432,216,737,775
2006 $1,211,161,880 $364,570,515,618
2005 $1,098,424,686 $285,868,619,196
2004 $1,109,054,005 $256,836,875,295
2003 $870,248,268 $234,772,463,824
2002 $729,321,680 $195,660,611,165
2001 $752,371,689 $160,446,947,785
2000 $706,370,816 $165,021,012,078
1999 $688,918,537 $140,001,351,215
1998 $745,523,117 $95,445,547,873
1997 $686,490,090 $215,748,998,610
1996 $693,535,954 $227,369,679,375
1995 $578,015,625 $202,132,028,723
1994 $531,688,312 $176,892,143,932
1993 $467,872,715 $158,006,700,302
1992 $477,101,652 $128,026,966,580
1991 - $116,621,996,217
1990 - $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/eritrea/indonesia | CC BY

GDP per capita in Eritrea vs Indonesia by year

Eritrea
GDP per capita

GDP per capita, PPP
Indonesia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Eritrea Indonesia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $4,925 $16,448
2023 - - $4,876 $15,416
2022 - - $4,731 $14,285
2021 - - $4,287 $12,757
2020 - - $3,854 $11,729
2019 - - $4,107 $11,986
2018 - - $3,861 $11,372
2017 - - $3,799 $10,688
2016 - - $3,521 $10,263
2015 - - $3,288 $10,028
2014 - - $3,441 $10,065
2013 - - $3,567 $9,866
2012 - - $3,632 $9,530
2011 $689 $1,742 $3,579 $8,937
2010 $540 $1,599 $3,066 $8,353
2009 $643 $1,577 $2,218 $7,868
2008 $490 $1,547 $2,125 $7,569
2007 $480 $1,727 $1,823 $7,096
2006 $448 $1,682 $1,558 $6,583
2005 $413 $1,674 $1,238 $6,134
2004 $427 $1,621 $1,127 $5,700
2003 $349 $1,621 $1,043 $5,353
2002 $305 $1,702 $881 $5,076
2001 $325 $1,684 $732 $4,849
2000 $314 $1,558 $764 $4,639
1999 $311 $1,597 $657 $4,386
1998 $342 $1,598 $455 $4,356
1997 $319 $1,573 $1,045 $5,037
1996 $326 $1,449 $1,119 $4,807
1995 $285.4 $1,369 $1,011 $4,451
1994 $277.8 $1,379 $900 $4,096
1993 $252.1 $1,149 $817 $3,793
1992 $265.2 $1,021 $674 $3,538
1991 - - $624 $3,305
1990 - - $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/eritrea/indonesia | CC BY

Eritrea's GDP per capita is $689, ranking 188/197, compared to $4,925 in Indonesia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Eritrea ranks 191st at $1,742, while Indonesia ranks 107th at $16,448.

Economic indicators

Eritrea Indonesia
Gross domestic product
$2.07B
2011
$1.4T
2024
GDP rank
179/197
2011
16/197
2024
GDP growth
8.68%
2010-2011
5.03%
2023-2024
GDP per capita
$689
2011
$4,925
2024
GDP per capita rank
188/197
2011
121/197
2024
GDP per capita, PPP
$1,742
2011
$16,448
2024
GDP per capita PPP rank
191/197
2011
107/197
2024
Government debt
$3.54B
2011
$561B
2024
Debt-to-GDP ratio
260.4%
2019
40.2%
2024
Government debt per person
$1,182
2011
$1,978
2024
Government debt per person rank
136/185
2011
120/185
2024
Average annual personal income after taxes
$1,129
2026
$3,371
2026
Market capitalization of domestic companies n/a
$758B
2023
Number of millionaires n/a
178,605
2025
Number of billionaires n/a
33
2025
Income share by richest 10% n/a
28.8%
2024
Income share by poorest 10% n/a
3.5%
2024
Government expenditure, % of GDP
31.3%
2019
16.8%
2024
Consumer prices inflation
1.3%
2018-2019
2.18%
2023-2024
Central bank interest rate n/a
4.75%
2025
Unemployment rate
5.8%
2017
3.31%
2023
Population
3700586
288551776

Spending and national debt comparison by year

Eritrea
Spending

Debt
Indonesia
Spending

Debt
1x
Year % of GDP
Eritrea Indonesia
Government spending Government debt Government spending Government debt
2024 - - 16.8% 40.2%
2023 - - 16.6% 39.6%
2022 - - 17.3% 40.1%
2021 - - 18.1% 41.1%
2020 - - 18.4% 39.7%
2019 31.3% 260.4% 16.4% 30.6%
2018 26.4% 267.1% 16.6% 30.4%
2017 42.5% 290.4% 16.4% 29.4%
2016 30.9% 251.2% 16.9% 28%
2015 31.1% 271.4% 17.6% 27%
2014 21.6% 204.5% 18.4% 24.6%
2013 32.7% 232.4% 18.8% 24.9%
2012 33.3% 171.6% 18.8% 23%
2011 32.3% 171.6% 17.7% 23.1%
2010 42.4% 201.8% 16.9% 26.4%
2009 44.9% 207.1% 17% 26.5%
2008 69.4% 259.7% 19.4% 30.3%
2007 51.2% 201.3% 18.7% 38.1%
2006 50.5% 199% 18.4% 35.8%
2005 76.6% 205.4% 17.4% 42.6%
2004 57.1% 193.5% 17.8% 51.3%
2003 58.1% 264% 18.2% 55.6%
2002 60.1% 243.4% 16.9% 62.3%
2001 59.5% 238.6% 19.5% 73.7%
2000 84.7% 219.1% 15.3% 87.4%
1999 106.1% - 15.1% 95.9%
1998 88% - 15.1% 72.5%
1997 60.1% - 15.2% 26.4%
1996 68.6% - 11.5% 27.5%
1995 81.2% - 11.9% 32%
1994 50.4% - 13.5% 37%
1993 67.2% - 14.1% 40.4%
1992 32.7% - 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/eritrea/indonesia | CC BY

In 2024, Eritrea's government spending was $666M, accounting for 31.3% of its GDP, while Indonesia spent $235B, or 16.8% of GDP.

Debt-to-GDP ratio is 260.4% in Eritrea and 40.2% in Indonesia, ranking 2/185 and 132/185, respectively.

Government deficit by year

Deficit/surplus
Eritrea

Indonesia
1x
Year Deficit/surplus, % of GDP
Eritrea Indonesia
2024 - -2.3%
2023 - -1.64%
2022 - -2.31%
2021 - -4.4%
2020 - -6.07%
2019 2.72% -2.09%
2018 5.22% -1.69%
2017 -5.74% -2.26%
2016 -1.44% -2.56%
2015 -2.77% -2.72%
2014 -0.12% -1.8%
2013 -7.62% -1.96%
2012 -5.21% -1.59%
2011 -5.5% -0.7%
2010 -16.5% -1.24%
2009 -22.2% -1.64%
2008 -38% 0.05%
2007 -19.8% -0.95%
2006 -15.5% 0.45%
2005 -31% 0.46%
2004 -7.65% -0.26%
2003 6.23% -1.08%
2002 -13.3% -0.58%
2001 -9.62% -1.76%
2000 -25.4% -1.87%
1999 -59.7% -0.96%
1998 -40.3% -1.89%
1997 -5.65% -1.03%
1996 -18.4% 0.96%
1995 -22.9% 0.64%
1994 8.69% 0.005%
1993 4.22% -0.59%
1992 6.85% -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/eritrea/indonesia | CC BY

In 2011, Eritrea's government deficit, the difference between spending and revenue, was $114M, equivalent to 5.5% of GDP. This compares to Indonesia's deficit of $6.28B, or 0.7% of GDP.

Over the past 20 years, Eritrea recorded a fiscal deficit in 16 of those years, while Indonesia ran a deficit in 14 years. On average, Eritrea posted an annual deficit equal to 16.3% of GDP, compared to deficit of 0.75% of GDP for Indonesia.

Inflation comparison by year

Inflation
Eritrea

Indonesia
1x
Year Consumer prices inflation
Eritrea Indonesia
2024 - 2.18%
2023 - 3.67%
2022 - 4.21%
2021 - 1.56%
2020 - 1.92%
2019 1.3% 3.03%
2018 -14.4% 3.2%
2017 -13.3% 3.81%
2016 -5.6% 3.53%
2015 28.5% 6.36%
2014 8.4% 6.39%
2013 6.3% 6.41%
2012 6% 4.28%
2011 5.9% 5.36%
2010 10.3% 5.13%
2009 33.9% 4.39%
2008 22.2% 10.2%
2007 9.4% 6.41%
2006 7.7% 13.1%
2005 12.5% 10.5%
2004 25.1% 6.06%
2003 22.7% 6.76%
2002 16.9% 11.9%
2001 14.6% 11.5%
2000 19.9% 3.69%
1999 8.4% 20.5%
1998 9.5% 58.5%
1997 3.7% 6.23%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (1997–2019, retrieved 2026-02-20).

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

Over the past 23 years, Eritrea has recorded an average annual inflation rate of 10.4%, compared with 9.44% in Indonesia. In 2019, inflation was 1.3% in Eritrea and 2.18% in Indonesia.

Top exports between countries

Eritrea
Export category Export value
Machinery & equipment $7K
Indonesia
Export category Export value
Chemicals & pharma $198K
Raw agricultural goods $192K
Wood & paper products $118K
Machinery & equipment $7K

Balance of trade

Eritrea Indonesia
Current account balance
-$105M
2000
-$8.72B
2024
Current account balance ranking
89/190
2000
174/190
2024
Current account balance, % of GDP
-14.8%
2000
-0.62%
2024
Goods imports
$471M
2000
$223B
2024
Goods exports
$36.8M
2000
$263B
2024
Service imports
$28.5M
2000
$57.6B
2024
Service exports
$60.9M
2000
$39B
2024
Imports of goods and services, % of GDP
29.2%
2011
20.4%
2024
Exports of goods and services, % of GDP
18.2%
2011
22.2%
2024

Economic freedom indices

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

Eritrea Indonesia
Economic freedom 39.6 65.1
Economic freedom ranking 188/197 67/197
Property rights 4.8 39.7
Government integrity 10.9 42
Judicial effectiveness 5.5 43.1
Tax burden 80.3 81.5
Government spending 62.3 91.4
Fiscal health 69 89.8
Business freedom 30.7 69.2
Labor freedom 43.4 56.8
Monetary freedom 80 79.4
Trade freedom 68.4 78.6
Investment freedom 0 50
Financial freedom 20 60

Economic freedom comparison by year

Eritrea
Indonesia
1x
Year Economic freedom index
Eritrea Indonesia
2026 39.6 65.1
2025 38.6 65.2
2024 39.5 63.5
2023 39.5 63.5
2022 39.7 64.4
2021 42.3 66.9
2020 38.5 67.2
2019 38.9 65.8
2018 41.7 64.2
2017 42.2 61.9
2016 42.7 59.4
2015 38.9 58.1
2014 38.5 58.5
2013 36.3 56.9
2012 36.2 56.4
2011 36.7 56
2010 35.3 55.5
2009 38.5 53.4
2008 - 53.2
2007 - 53.2
2006 - 51.9
2005 - 52.9
2004 - 52.1
2003 - 55.8
2002 - 54.8
2001 - 52.5
2000 - 55.2
1999 - 61.5
1998 - 63.4
1997 - 62
1996 - 61
1995 - 54.9

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

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

The Economic Freedom Index for Eritrea is 39.6, ranking 188/197, 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

Eritrea Indonesia
Services, % of GDP n/a
43.8%
2024
Industry, % of GDP
21.8%
2009
39.3%
2024
Agriculture, forestry, and fishing, % of GDP
14.1%
2009
12.6%
2024
GNI, Atlas method
$1.94B
2011
$1.39T
2024
GNI per capita, PPP
$1,720
2011
$16,010
2024
Total reserves including gold
$192M
2019
$156B
2024
Total reserves ranking
170/177
2019
20/177
2024
Net foreign direct investment
-$27.9M
2000
-$15.9B
2024
Net inflows of foreign direct investment
-$27.9M
2024
$24.2B
2024
Net outflows of foreign direct investment
$0
2024
$8.39B
2024
Servicing debt to the IMF, % of GNI
1.07%
2011
5.65%
2024
Poverty at national poverty lines
50%
2020
9%
2024
Gross capital formation, % of GDP
12.6%
2011
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/eritrea/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 (2003–2024, retrieved 2026-02-08)
  7. Central Intelligence Agency (CIA) (2017–2020, retrieved 2026-02-20)
  8. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  9. 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.