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Indonesia's economy ranking: GDP & GDP per capita, debt

Updated on by Georank team

Indonesia ranked 16/197 by economy size with a GDP of $1.4T and 119/197 by GDP per capita at $4,925. Indonesia has $561B in government debt, with a debt-to-GDP ratio of 41%.

In 2025, Indonesia made up 1.26% of the world's economy, compared to 0.25% in 1967.

The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.

GDP, current $
GDP, constant 2015 $
GDP growth
Year GDP GDP growth
Current $ Constant $
1960 - $52,777,607,845 -
1961 - $55,807,383,385 -
1962 - $56,835,342,943 -
1963 - $55,563,919,279 -
1964 - $57,525,157,910 -
1965 - $58,147,343,958 -
1966 - $59,770,437,998 -
1967 $5,667,756,628 $60,595,510,801 -
1968 $7,076,465,300 $67,209,619,011 24.9%
1969 $8,337,423,313 $71,794,859,672 17.8%
1970 $9,150,684,932 $77,218,698,920 9.75%
1971 $9,333,536,370 $82,642,538,168 2%
1972 $10,997,590,361 $88,458,625,142 17.8%
1973 $16,273,253,012 $95,627,290,483 48%
1974 $25,802,409,639 $102,928,121,319 58.6%
1975 $30,463,855,422 $108,051,163,594 18.1%
1976 $37,269,156,627 $115,492,177,179 22.3%
1977 $45,808,915,663 $125,610,822,866 22.9%
1978 $51,455,719,076 $134,110,994,998 12.3%
1979 $51,400,186,343 $143,933,699,326 -0.11%
1980 $72,482,337,397 $158,154,460,399 41%
1981 $85,518,233,419 $170,691,612,499 18%
1982 $90,158,449,295 $174,526,106,274 5.43%
1983 $81,052,283,384 $181,843,928,959 -10.1%
1984 $84,853,700,028 $194,528,502,793 4.69%
1985 $85,289,488,375 $199,318,073,805 0.51%
1986 $79,954,072,545 $211,028,100,540 -6.26%
1987 $75,929,617,558 $221,423,191,493 -5.03%
1988 $84,300,174,486 $234,222,555,729 11%
1989 $94,451,427,877 $251,687,564,196 12%
1990 $106,140,727,334 $269,915,108,913 12.4%
1991 $116,621,996,217 $288,571,594,912 9.87%
1992 $128,026,966,580 $307,321,553,097 9.78%
1993 $158,006,700,302 $327,286,415,429 23.4%
1994 $176,892,143,932 $351,963,716,551 12%
1995 $202,132,028,723 $380,895,160,094 14.3%
1996 $227,369,679,375 $410,674,256,276 12.5%
1997 $215,748,998,610 $429,975,448,805 -5.11%
1998 $95,445,547,873 $373,533,751,956 -55.8%
1999 $140,001,351,215 $376,488,874,893 46.7%
2000 $165,021,012,078 $395,012,382,598 17.9%
2001 $160,446,947,785 $409,404,526,220 -2.77%
2002 $195,660,611,165 $427,825,582,126 21.9%
2003 $234,772,463,824 $448,277,224,149 20%
2004 $256,836,875,295 $470,829,486,220 9.4%
2005 $285,868,619,196 $497,631,790,442 11.3%
2006 $364,570,515,618 $525,006,275,303 27.5%
2007 $432,216,737,775 $558,318,040,162 18.6%
2008 $510,228,634,992 $591,893,632,243 18%
2009 $539,580,085,612 $619,291,626,017 5.75%
2010 $755,094,157,622 $657,835,433,774 39.9%
2011 $892,969,104,563 $698,422,460,479 18.3%
2012 $917,869,913,333 $740,537,688,618 2.79%
2013 $912,524,136,718 $781,691,320,691 -0.58%
2014 $890,814,755,534 $820,828,013,231 -2.38%
2015 $860,854,232,686 $860,854,232,686 -3.36%
2016 $931,877,364,038 $904,181,621,780 8.25%
2017 $1,015,618,744,160 $950,021,694,164 8.99%
2018 $1,042,271,532,989 $999,178,586,309 2.62%
2019 $1,119,099,871,350 $1,049,330,233,997 7.37%
2020 $1,059,054,842,698 $1,027,656,193,885 -5.37%
2021 $1,186,509,691,087 $1,065,709,127,397 12%
2022 $1,319,101,183,380 $1,122,268,412,650 11.2%
2023 $1,371,169,301,564 $1,178,932,006,500 3.95%
2024 $1,396,300,098,191 $1,238,236,350,137 1.83%

Economic Statistics of Indonesia

Indonesia Rank
Gross domestic product
$1.4T
2024
16/197
GDP growth
1.83%
2023-2024
165/196
GDP per capita
$4,925
2024
119/197
GDP per capita, PPP
$16,448
2024
107/197
Government debt
$561B
2024
17/185
Debt-to-GDP ratio
41%
2025
132/185
Government debt per person
$1,979
2024
120/185
Average annual personal income after taxes
$3,538
2025
134/197
Listed domestic companies
903
2023
10/103
Market capitalization of domestic companies
$758B
2023
16/100
Number of millionaires
178,605
2024
26/34
Millionaire frequency
1 in 1,066
2024
33/34
Number of billionaires
33
2025
19/78
Billionaire frequency
1 in 5,770,279
2025
61/78
Income share by richest 10%
28.8%
2024
74/169
Income share by poorest 10%
3.5%
2024
36/169
Government expenditure, % of GDP
16.7%
2025
179/195
Consumer prices inflation
2.18%
2023-2024
133/195
Central bank interest rate
4.75%
2025
63/105
Unemployment rate
3.31%
2023
144/196
Population
287460768
4/197

Indonesia's GDP per capita

Indonesia has a GDP per capita of $4,925, ranking 119/197, a GDP per capita based on purchasing power parity (PPP) of $16,448, ranking 107/197, and a median annual after tax income of $3,538, ranking 134/197.

GDP per capita
GDP per capita, PPP
Year Current $
GDP per capita GDP per capita, PPP
1967 $53.2 -
1968 $64.7 -
1969 $74.1 -
1970 $79.1 -
1971 $78.5 -
1972 $90.1 -
1973 $129.9 -
1974 $200.7 -
1975 $231.1 -
1976 $275.7 -
1977 $331 -
1978 $362 -
1979 $353 -
1980 $487 -
1981 $561 -
1982 $578 -
1983 $508 -
1984 $520 -
1985 $511 -
1986 $470 -
1987 $438 -
1988 $477 -
1989 $524 -
1990 $578 $3,044
1991 $624 $3,305
1992 $674 $3,538
1993 $817 $3,793
1994 $900 $4,096
1995 $1,011 $4,451
1996 $1,119 $4,807
1997 $1,045 $5,037
1998 $455 $4,356
1999 $657 $4,386
2000 $764 $4,639
2001 $732 $4,849
2002 $881 $5,076
2003 $1,043 $5,353
2004 $1,127 $5,700
2005 $1,238 $6,134
2006 $1,558 $6,583
2007 $1,823 $7,096
2008 $2,125 $7,569
2009 $2,218 $7,868
2010 $3,066 $8,353
2011 $3,579 $8,937
2012 $3,632 $9,530
2013 $3,567 $9,866
2014 $3,441 $10,065
2015 $3,288 $10,028
2016 $3,521 $10,263
2017 $3,799 $10,688
2018 $3,861 $11,372
2019 $4,107 $11,986
2020 $3,854 $11,729
2021 $4,287 $12,757
2022 $4,731 $14,285
2023 $4,876 $15,416
2024 $4,925 $16,448

Indonesia's government spending, deficit, and chart

This chart shows Indonesia's government spending, budget balance, and debt over time, each expressed as a share of GDP.

Over the past 50 years, Indonesia recorded a fiscal deficit in 43 years — average annual deficit equal to -1.38% of GDP. In 2024, government spending reached $236B (16.7% of GDP), with a deficit of -2.59%.

The national debt reached $561B, ranking 17th out of 185 countries by total size, with a debt-to-GDP ratio of 41%, ranking 132nd.

Government spending
Government debt
Deficit/surplus
Year % of GDP
Government spending Government debt Government deficit/surplus
1951 16.7% - 1.52%
1952 18.3% - -3.66%
1953 18.6% - -2.33%
1954 15.8% - -3.16%
1955 12.8% - -1.6%
1956 13.8% - -1.38%
1957 15.2% - -2.92%
1958 19.4% - -6.67%
1959 13.8% - -4.06%
1960 14.4% - -1.65%
1961 15.1% - -4.57%
1962 7.89% - -3.1%
1963 10.3% - -5.24%
1964 9.55% - -5.58%
1965 10.7% - -6.62%
1966 9.18% - -5.06%
1967 10.4% - -0.35%
1968 8.82% - 0%
1969 12.8% - -2.8%
1970 13.8% 46.7% -3.02%
1971 14.5% 50.5% -2.51%
1972 15.7% 51.2% -1.82%
1973 16.3% 43.1% -1.33%
1974 17.3% 34.4% -0.35%
1975 20.5% 36.7% -2.33%
1976 21.8% 38.1% -2.63%
1977 19.5% 27.7% -0.38%
1978 20.1% 30.3% -2.03%
1979 20.9% 22% -0.67%
1980 22.1% 17.3% -0.82%
1981 24.4% 16.4% -0.69%
1982 18.8% 18.6% -1.11%
1983 18.2% 23.1% -1%
1984 16.1% 23.5% 1.83%
1985 18.5% 28% -0.45%
1986 20.9% 38.3% -2.94%
1987 18% 49.7% -0.9%
1988 17.3% 45.6% -2.68%
1989 16.5% 42.5% -1.72%
1990 15.8% 40.8% -0.55%
1991 15% 39.2% -0.87%
1992 16.8% 42.6% -2.95%
1993 14.1% 40.4% -0.59%
1994 13.5% 37% 0.005%
1995 11.9% 32% 0.64%
1996 11.5% 27.5% 0.96%
1997 15.2% 26.4% -1.03%
1998 15.1% 72.5% -1.89%
1999 15.1% 95.9% -0.96%
2000 15.3% 87.4% -1.87%
2001 19.5% 73.7% -1.76%
2002 16.9% 62.3% -0.58%
2003 18.2% 55.6% -1.08%
2004 17.8% 51.3% -0.26%
2005 17.4% 42.6% 0.46%
2006 18.4% 35.8% 0.45%
2007 18.7% 38.1% -0.95%
2008 19.4% 30.3% 0.05%
2009 17% 26.5% -1.64%
2010 16.9% 26.4% -1.24%
2011 17.7% 23.1% -0.7%
2012 18.8% 23% -1.59%
2013 18.8% 24.9% -1.96%
2014 18.4% 24.6% -1.8%
2015 17.6% 27% -2.72%
2016 16.9% 28% -2.56%
2017 16.4% 29.4% -2.26%
2018 16.6% 30.4% -1.69%
2019 16.4% 30.6% -2.09%
2020 18.4% 39.7% -6.07%
2021 18.1% 41.1% -4.4%
2022 17.3% 40.1% -2.31%
2023 17% 39.6% -1.91%
2024 16.9% 40.2% -2.29%
2025 16.7% 41% -2.59%

Inflation rate by year

Over the past 20 years, Indonesia has had an average annual inflation rate of 5.28%. In 2024, inflation was 2.18%. The bar chart below shows consumer price inflation by year.

Year Inflation
1960 39.6%
1961 13.7%
1962 131.4%
1963 145.9%
1964 109%
1965 307%
1966 1,136%
1967 106%
1968 128.8%
1969 15.5%
1970 12.4%
1971 4.23%
1972 6.52%
1973 31%
1974 40.5%
1975 19.2%
1976 19.8%
1977 11.1%
1978 8.11%
1979 16.2%
1980 18%
1981 12.3%
1982 9.45%
1983 11.8%
1984 10.5%
1985 4.72%
1986 5.82%
1987 9.28%
1988 8.05%
1989 6.42%
1990 7.82%
1991 9.42%
1992 7.52%
1993 9.67%
1994 8.53%
1995 9.42%
1996 7.97%
1997 6.23%
1998 58.5%
1999 20.5%
2000 3.69%
2001 11.5%
2002 11.9%
2003 6.76%
2004 6.06%
2005 10.5%
2006 13.1%
2007 6.41%
2008 10.2%
2009 4.39%
2010 5.13%
2011 5.36%
2012 4.28%
2013 6.41%
2014 6.39%
2015 6.36%
2016 3.53%
2017 3.81%
2018 3.2%
2019 3.03%
2020 1.92%
2021 1.56%
2022 4.21%
2023 3.67%
2024 2.18%

Balance of trade

Indonesia Rank
Current account balance
-$8.68B
2024
174/189
Current account balance, % of GDP
-0.62%
2024
81/189
Goods imports
$223B
2024
24/188
Goods exports
$263B
2024
25/188
Service imports
$57.6B
2024
29/188
Service exports
$39B
2024
38/188
Imports of goods and services, % of GDP
20.4%
2024
165/180
Exports of goods and services, % of GDP
22.2%
2024
140/193

Indonesia's top 10 trading partners

Indonesia's biggest trading partner accounting for 28.1%% of all exports and imports is China, with a trade balance between the two of -$10.3B — Indonesia exports $62.4B worth of goods and services to China and imports $72.7B.

Below is the list of the top 10 trade partners of Indonesia.

Rank Country Trade value Share of total trade Export to Import from Top export to Top import from
1 China $135B 28.1% $62.4B $72.7B Metals Machinery & equipment
2 United States $38.4B 7.96% $26.4B $12B Textiles & consumer goods Raw materials & minerals
3 Japan $35.7B 7.41% $20.7B $15B Raw materials & minerals Machinery & equipment
4 Singapore $33.7B 7% $12.2B $21.5B Raw materials & minerals Raw materials & minerals
5 India $26B 5.4% $20.3B $5.66B Raw materials & minerals Machinery & equipment
6 Malaysia $22.9B 4.76% $12B $10.9B Raw materials & minerals Raw materials & minerals
7 South Korea $20.1B 4.17% $10.8B $9.34B Raw materials & minerals Machinery & equipment
8 Thailand $17.4B 3.61% $7.7B $9.71B Raw materials & minerals Machinery & equipment
9 Vietnam $15.9B 3.31% $9.47B $6.45B Raw materials & minerals Machinery & equipment
10 Australia $15.4B 3.2% $4.96B $10.4B Metals Raw materials & minerals

Indonesia's top 10 exports

Indonesia Rank
Raw materials & minerals $73.1B 18/193
Metals $43.8B 8/192
Processed food, beverages & tobacco $39.5B 9/192
Machinery & equipment $35.1B 33/193
Textiles & consumer goods $24.6B 16/193
Transport & tourism services $18.5B 33/188
Chemicals & pharma $16.5B 30/193
Wood & paper products $12.1B 12/192
Precious metals & jewellery $9.53B 22/190
Business & finance services $6.96B 40/188

Indonesia's top 10 imports

Indonesia Rank
Machinery & equipment $76.7B 28/193
Raw materials & minerals $53.4B 19/193
Chemicals & pharma $27.2B 28/193
Transport & tourism services $24.8B 31/188
Metals $20.4B 23/193
Business & finance services $15.1B 31/188
Textiles & consumer goods $15B 25/193
Processed food, beverages & tobacco $12.6B 18/193
Raw agricultural goods $12.5B 15/193
IT & IP services $7.78B 25/182

Economic freedom indices

Indonesia Rank
Economic freedom 65.2 65/197
Property rights 39.8 126/182
Government integrity 40.1 126/182
Judicial effectiveness 45.3 126/182
Tax burden 81.8 74/181
Government spending 90.9 20/180
Fiscal health 84.9 58/181
Business freedom 73 63/182
Labor freedom 59.3 69/182
Monetary freedom 78 14/180
Trade freedom 79.4 56/181
Investment freedom 50 113/181
Financial freedom 60 47/181

Indonesia's economic freedom by year

Indonesia is ranked 59/180 for economic freedom with a score of 65.2, compared to 122/163 and a score of 52.9 in 2005.

Economic freedom
Judicial effectiveness
Tax burden
Government spending
Fiscal health
Year Index
Economic freedom Judicial effectiveness Tax burden Government spending Fiscal health
1995 54.9 - 73.1 89.7 -
1996 61 - 80 90 -
1997 62 - 79.9 90.3 -
1998 63.4 - 80.1 94.3 -
1999 61.5 - 80 95.4 -
2000 55.2 - 79.7 76.5 -
2001 52.5 - 80.4 86.8 -
2002 54.8 - 79.4 86.8 -
2003 55.8 - 77.5 91.1 -
2004 52.1 - 77.5 84.4 -
2005 52.9 - 77.5 90 -
2006 51.9 - 77.3 86 -
2007 53.2 - 77.5 89.1 -
2008 53.2 - 77.5 89.7 -
2009 53.4 - 77.5 88 -
2010 55.5 - 81.9 89.1 -
2011 56 - 83 88.9 -
2012 56.4 - 83.5 91.6 -
2013 56.9 - 83.4 89.2 -
2014 58.5 - 83.4 89.8 -
2015 58.1 - 83.3 88.3 -
2016 59.4 - 83.4 89 -
2017 61.9 39.3 83.6 89.9 90.1
2018 64.2 45.2 83.7 90.7 89.4
2019 65.8 53.5 83.7 91.4 88.1
2020 67.2 56.2 83.4 91.7 90.2
2021 66.9 48.9 83.7 91.8 90.7
2022 64.4 43.2 85.3 91.2 80.1
2023 63.5 39.3 81.9 90.6 66.8
2024 63.5 44.5 81.7 90.2 66.8
2025 65.2 45.3 81.8 90.9 84.9

More economic indicators

Indonesia Rank
Services, % of GDP
43.8%
2024
164/191
Industry, % of GDP
39.3%
2024
21/194
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
62/193
GNI, Atlas method
$1.39T
2024
16/194
GNI per capita, PPP
$16,010
2024
103/191
Total reserves including gold
$156B
2024
20/177
Net foreign direct investment
-$15.7B
2024
182/188
Net inflows of foreign direct investment
$24.1B
2024
17/193
Net outflows of foreign direct investment
$8.39B
2024
29/187
Servicing debt to the IMF, % of GNI
4.38%
2023
53/119
Poverty at national poverty lines
9%
2024
155/176
Gross capital formation, % of GDP
31.4%
2024
30/176

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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.