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Economy of Georgia vs Indonesia compared: GDP & Debt

Updated on by Georank team

Georgia has a GDP of $34.2B compared to $1.4T for Indonesia, ranking 107/197 and 16/197 by economy size, respectively.

Georgia has $12.3B in government debt (36.1% of GDP), compared to $561B (40.2% of GDP) in Indonesia.

Georgia vs Indonesia GDP by year

Georgia
Indonesia
1x
Year GDP, current $
Georgia Indonesia
2024 $34,189,423,545 $1,396,300,098,191
2023 $30,777,833,601 $1,371,169,301,564
2022 $24,984,568,960 $1,319,101,183,380
2021 $18,853,115,589 $1,186,509,691,087
2020 $16,010,869,216 $1,059,054,842,698
2019 $17,638,337,117 $1,119,099,871,350
2018 $17,902,544,881 $1,042,271,532,989
2017 $16,473,125,375 $1,015,618,744,160
2016 $15,444,548,902 $931,877,364,038
2015 $15,223,796,149 $860,854,232,686
2014 $17,966,015,109 $890,814,755,534
2013 $17,517,660,144 $912,524,136,718
2012 $16,894,392,033 $917,869,913,333
2011 $15,475,290,469 $892,969,104,563
2010 $12,426,907,967 $755,094,157,622
2009 $10,766,920,066 $539,580,085,612
2008 $12,795,145,131 $510,228,634,992
2007 $10,172,931,089 $432,216,737,775
2006 $7,745,250,734 $364,570,515,618
2005 $6,410,912,050 $285,868,619,196
2004 $5,125,365,192 $256,836,875,295
2003 $3,991,377,904 $234,772,463,824
2002 $3,395,766,678 $195,660,611,165
2001 $3,219,462,262 $160,446,947,785
2000 $3,057,475,335 $165,021,012,078
1999 $2,800,025,883 $140,001,351,215
1998 $3,613,497,317 $95,445,547,873
1997 $3,510,520,231 $215,748,998,610
1996 $3,094,936,177 $227,369,679,375
1995 $2,693,732,612 $202,132,028,723
1994 $2,513,867,645 $176,892,143,932
1993 $2,701,181,331 $158,006,700,302
1992 $3,690,328,964 $128,026,966,580
1991 $6,324,503,311 $116,621,996,217
1990 $7,735,927,264 $106,140,727,334
1989 $8,902,632,715 $94,451,427,877
1988 $8,833,588,173 $84,300,174,486
1987 $7,321,981,334 $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/georgia/indonesia | CC BY

GDP per capita in Georgia vs Indonesia by year

Georgia
GDP per capita

GDP per capita, PPP
Indonesia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Georgia Indonesia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $9,241 $28,285 $4,925 $16,448
2023 $8,284 $25,072 $4,876 $15,416
2022 $6,730 $22,461 $4,731 $14,285
2021 $5,084 $18,916 $4,287 $12,757
2020 $4,301 $16,791 $3,854 $11,729
2019 $4,741 $16,770 $4,107 $11,986
2018 $4,804 $15,022 $3,861 $11,372
2017 $4,419 $13,719 $3,799 $10,688
2016 $4,143 $13,065 $3,521 $10,263
2015 $4,087 $12,270 $3,288 $10,028
2014 $4,830 $11,771 $3,441 $10,065
2013 $4,712 $10,797 $3,567 $9,866
2012 $4,531 $10,060 $3,632 $9,530
2011 $4,120 $8,564 $3,579 $8,937
2010 $3,282 $7,712 $3,066 $8,353
2009 $2,823 $7,119 $2,218 $7,868
2008 $3,325 $7,279 $2,125 $7,569
2007 $2,635 $6,951 $1,823 $7,096
2006 $1,996 $5,980 $1,558 $6,583
2005 $1,643 $5,272 $1,238 $6,134
2004 $1,305 $4,635 $1,127 $5,700
2003 $1,010 $4,240 $1,043 $5,353
2002 $854 $3,719 $881 $5,076
2001 $802 $3,441 $732 $4,849
2000 $750 $3,161 $764 $4,639
1999 $674 $2,977 $657 $4,386
1998 $852 $2,795 $455 $4,356
1997 $807 $2,616 $1,045 $5,037
1996 $689 $2,253 $1,119 $4,807
1995 $578 $1,919 $1,011 $4,451
1994 $520 $1,764 $900 $4,096
1993 $550 $1,898 $817 $3,793
1992 $757 $2,643 $674 $3,538
1991 $1,308 $4,727 $624 $3,305
1990 $1,611 $5,836 $578 $3,044
1989 $1,853 - $524 -
1988 $1,844 - $477 -
1987 $1,544 - $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/georgia/indonesia | CC BY

Georgia's GDP per capita is $9,241, ranking 89/197, compared to $4,925 in Indonesia, ranking 121/197. Adjusted for purchasing power (GDP per capita PPP), Georgia ranks 74th at $28,285, while Indonesia ranks 107th at $16,448.

Economic indicators

Georgia Indonesia
Gross domestic product
$34.2B
2024
$1.4T
2024
GDP rank
107/197
2024
16/197
2024
GDP growth
9.68%
2023-2024
5.03%
2023-2024
GDP per capita
$9,241
2024
$4,925
2024
GDP per capita rank
89/197
2024
121/197
2024
GDP per capita, PPP
$28,285
2024
$16,448
2024
GDP per capita PPP rank
74/197
2024
107/197
2024
Government debt
$12.3B
2024
$561B
2024
Debt-to-GDP ratio
36.1%
2024
40.2%
2024
Government debt per person
$3,336
2024
$1,978
2024
Government debt per person rank
96/185
2024
120/185
2024
Average annual personal income after taxes
$6,891
2026
$3,371
2026
Market capitalization of domestic companies n/a
$758B
2023
Number of millionaires n/a
178,605
2025
Number of billionaires
2
2025
33
2025
Income share by richest 10%
26.2%
2024
28.8%
2024
Income share by poorest 10%
2.9%
2024
3.5%
2024
Government expenditure, % of GDP
30.3%
2024
16.8%
2024
Consumer prices inflation
1.11%
2023-2024
2.18%
2023-2024
Central bank interest rate
8%
2024
4.75%
2025
Unemployment rate
8.01%
2024
3.31%
2023
Population
3697615
288551776

Spending and national debt comparison by year

Georgia
Spending

Debt
Indonesia
Spending

Debt
1x
Year % of GDP
Georgia Indonesia
Government spending Government debt Government spending Government debt
2024 30.3% 36.1% 16.8% 40.2%
2023 29.7% 38.9% 16.6% 39.6%
2022 28.5% 39.2% 17.3% 40.1%
2021 31.2% 49.1% 18.1% 41.1%
2020 34.1% 59.6% 18.4% 39.7%
2019 28.7% 40% 16.4% 30.6%
2018 26.7% 38.2% 16.6% 30.4%
2017 27.2% 38.9% 16.4% 29.4%
2016 27.8% 39.5% 16.9% 28%
2015 27% 36% 17.6% 27%
2014 27.5% 30.3% 18.4% 24.6%
2013 26.6% 28.9% 18.8% 24.9%
2012 27.7% 28.1% 18.8% 23%
2011 27.1% 27.7% 17.7% 23.1%
2010 31% 31.4% 16.9% 26.4%
2009 34.8% 33.6% 17% 26.5%
2008 31.8% 26.3% 19.4% 30.3%
2007 27.7% 22.5% 18.7% 38.1%
2006 22.7% 28.3% 18.4% 35.8%
2005 21.6% 35.3% 17.4% 42.6%
2004 18.9% 44.3% 17.8% 51.3%
2003 16.1% 54.6% 18.2% 55.6%
2002 16% 50.3% 16.9% 62.3%
2001 16.8% 53% 19.5% 73.7%
2000 16.9% 58.5% 15.3% 87.4%
1999 19.8% 76.5% 15.1% 95.9%
1998 18.9% 80% 15.1% 72.5%
1997 21.9% 48.2% 15.2% 26.4%
1996 18.4% 38.9% 11.5% 27.5%
1995 15.6% 19.8% 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/georgia/indonesia | CC BY

In 2024, Georgia's government spending was $10.3B, accounting for 30.3% of its GDP, while Indonesia spent $235B, or 16.8% of GDP.

Debt-to-GDP ratio is 36.1% in Georgia and 40.2% in Indonesia, ranking 144/185 and 132/185, respectively.

Government deficit by year

Deficit/surplus
Georgia

Indonesia
1x
Year Deficit/surplus, % of GDP
Georgia Indonesia
2024 -2.3% -2.3%
2023 -2.33% -1.64%
2022 -2.2% -2.31%
2021 -5.97% -4.4%
2020 -9.16% -6.07%
2019 -1.82% -2.09%
2018 -0.8% -1.69%
2017 -0.45% -2.26%
2016 -1.49% -2.56%
2015 -1.16% -2.72%
2014 -1.78% -1.8%
2013 -1.25% -1.96%
2012 -0.71% -1.59%
2011 -0.81% -0.7%
2010 -4.48% -1.24%
2009 -6.36% -1.64%
2008 -1.92% 0.05%
2007 0.81% -0.95%
2006 3.28% 0.45%
2005 2.14% 0.46%
2004 3.59% -0.26%
2003 -0.55% -1.08%
2002 -0.19% -0.58%
2001 -0.71% -1.76%
2000 -1.92% -1.87%
1999 -4.72% -0.96%
1998 -4% -1.89%
1997 -6.79% -1.03%
1996 -5.91% 0.96%
1995 -4.89% 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/georgia/indonesia | CC BY

In 2024, Georgia's government deficit, the difference between spending and revenue, was $785M, equivalent to 2.3% of GDP. This compares to Indonesia's deficit of $32.1B, or 2.3% of GDP.

Over the past 30 years, Georgia recorded a fiscal deficit in 26 of those years, while Indonesia ran a deficit in 25 years. On average, Georgia posted an annual deficit equal to 2.16% of GDP, compared to deficit of 1.49% of GDP for Indonesia.

Inflation comparison by year

Inflation
Georgia

Indonesia
1x
Year Consumer prices inflation
Georgia Indonesia
2024 1.11% 2.18%
2023 2.49% 3.67%
2022 11.9% 4.21%
2021 9.57% 1.56%
2020 5.2% 1.92%
2019 4.85% 3.03%
2018 2.62% 3.2%
2017 6.04% 3.81%
2016 2.13% 3.53%
2015 4% 6.36%
2014 3.07% 6.39%
2013 -0.51% 6.41%
2012 -0.94% 4.28%
2011 8.54% 5.36%
2010 7.11% 5.13%
2009 1.73% 4.39%
2008 10% 10.2%
2007 9.24% 6.41%
2006 9.16% 13.1%
2005 8.25% 10.5%
2004 5.66% 6.06%
2003 0.84% 6.76%
2002 5.59% 11.9%
2001 4.65% 11.5%
2000 4.06% 3.69%
1999 19.2% 20.5%
1998 3.57% 58.5%
1997 7.09% 6.23%

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

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

Over the past 28 years, Georgia has recorded an average annual inflation rate of 5.58%, compared with 8.24% in Indonesia. In 2024, inflation was 1.11% in Georgia and 2.18% in Indonesia.

Top exports between countries

Georgia
Export category Export value
Transport & tourism services $1.25M
Machinery & equipment $733K
Metals $509K
Processed food, beverages & tobacco $32K
Animal & marine products $25K
Chemicals & pharma $3K
Textiles & consumer goods $2K
Precious metals & jewellery $1K
Indonesia
Export category Export value
Raw materials & minerals $58.3M
Raw agricultural goods $39.3M
Processed food, beverages & tobacco $26.1M
Machinery & equipment $8.53M
Wood & paper products $2.25M
Chemicals & pharma $2.25M
Textiles & consumer goods $827K
Animal & marine products $579K
Precious metals & jewellery $124K
Miscellaneous $43K

Balance of trade

Georgia Indonesia
Current account balance
-$1.79B
2024
-$8.72B
2024
Current account balance ranking
139/190
2024
174/190
2024
Current account balance, % of GDP
-5.22%
2024
-0.62%
2024
Goods imports
$15.2B
2024
$223B
2024
Goods exports
$8.63B
2024
$263B
2024
Service imports
$3.81B
2024
$57.6B
2024
Service exports
$7.71B
2024
$39B
2024
Imports of goods and services, % of GDP
55.6%
2024
20.4%
2024
Exports of goods and services, % of GDP
47.8%
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.

Georgia Indonesia
Economic freedom 69.6 65.1
Economic freedom ranking 41/197 67/197
Property rights 53 39.7
Government integrity 59.9 42
Judicial effectiveness 53.8 43.1
Tax burden 87.8 81.5
Government spending 73.9 91.4
Fiscal health 89.1 89.8
Business freedom 76.6 69.2
Labor freedom 64 56.8
Monetary freedom 70.2 79.4
Trade freedom 86.8 78.6
Investment freedom 60 50
Financial freedom 60 60

Economic freedom comparison by year

Georgia
Indonesia
1x
Year Economic freedom index
Georgia Indonesia
2026 69.6 65.1
2025 69 65.2
2024 68.4 63.5
2023 68.7 63.5
2022 71.8 64.4
2021 77.2 66.9
2020 77.1 67.2
2019 75.9 65.8
2018 76.2 64.2
2017 76 61.9
2016 72.6 59.4
2015 73 58.1
2014 72.6 58.5
2013 72.2 56.9
2012 69.4 56.4
2011 70.4 56
2010 70.4 55.5
2009 69.8 53.4
2008 69.2 53.2
2007 69.3 53.2
2006 64.5 51.9
2005 57.1 52.9
2004 58.9 52.1
2003 58.6 55.8
2002 56.7 54.8
2001 58.3 52.5
2000 54.3 55.2
1999 52.5 61.5
1998 47.9 63.4
1997 46.5 62
1996 44.1 61
1995 - 54.9

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

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

The Economic Freedom Index for Georgia is 69.6, ranking 41/197, 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

Georgia Indonesia
Services, % of GDP
62%
2024
43.8%
2024
Industry, % of GDP
19.6%
2024
39.3%
2024
Agriculture, forestry, and fishing, % of GDP
5.49%
2024
12.6%
2024
GNI, Atlas method
$30B
2024
$1.39T
2024
GNI per capita, PPP
$26,200
2024
$16,010
2024
Total reserves including gold
$4.45B
2024
$156B
2024
Total reserves ranking
104/177
2024
20/177
2024
Net foreign direct investment
-$1.14B
2024
-$15.9B
2024
Net inflows of foreign direct investment
$1.6B
2024
$24.2B
2024
Net outflows of foreign direct investment
$462M
2024
$8.39B
2024
Servicing debt to the IMF, % of GNI
15.2%
2024
5.65%
2024
Poverty at national poverty lines
9.4%
2024
9%
2024
Gross capital formation, % of GDP
24.5%
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/georgia/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 (2021–2024, 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.