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Economy of Indonesia vs Kenya compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $120B for Kenya, ranking 16/197 and 64/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $81B (67.3% of GDP) in Kenya.

Indonesia vs Kenya GDP by year

Indonesia
Kenya
1x
Year GDP, current $
Indonesia Kenya
2024 $1,396,300,098,191 $120,339,557,906
2023 $1,371,169,301,564 $107,500,884,685
2022 $1,319,101,183,380 $114,448,978,153
2021 $1,186,509,691,087 $109,703,658,905
2020 $1,059,054,842,698 $100,657,505,751
2019 $1,119,099,871,350 $100,378,436,207
2018 $1,042,271,532,989 $92,202,979,985
2017 $1,015,618,744,160 $82,036,510,877
2016 $931,877,364,038 $74,815,144,164
2015 $860,854,232,686 $70,120,446,897
2014 $890,814,755,534 $68,285,796,514
2013 $912,524,136,718 $61,671,440,408
2012 $917,869,913,333 $56,396,704,672
2011 $892,969,104,563 $46,869,473,151
2010 $755,094,157,622 $45,405,615,064
2009 $539,580,085,612 $42,347,217,913
2008 $510,228,634,992 $35,895,153,328
2007 $432,216,737,775 $31,958,195,182
2006 $364,570,515,618 $25,825,512,284
2005 $285,868,619,196 $18,737,895,513
2004 $256,836,875,295 $16,095,337,094
2003 $234,772,463,824 $14,904,517,650
2002 $195,660,611,165 $13,147,736,899
2001 $160,446,947,785 $12,986,007,426
2000 $165,021,012,078 $12,705,350,098
1999 $140,001,351,215 $12,896,010,459
1998 $95,445,547,873 $14,093,998,844
1997 $215,748,998,610 $13,115,764,358
1996 $227,369,679,375 $12,045,865,396
1995 $202,132,028,723 $9,046,320,255
1994 $176,892,143,932 $7,148,148,564
1993 $158,006,700,302 $5,751,786,643
1992 $128,026,966,580 $8,209,120,763
1991 $116,621,996,217 $8,151,488,783
1990 $106,140,727,334 $8,572,359,038
1989 $94,451,427,877 $8,283,114,514
1988 $84,300,174,486 $8,355,380,879
1987 $75,929,617,558 $7,970,820,369
1986 $79,954,072,545 $7,239,126,568
1985 $85,289,488,375 $6,135,034,214
1984 $84,853,700,028 $6,191,437,070
1983 $81,052,283,384 $5,979,198,314
1982 $90,158,449,295 $6,431,579,357
1981 $85,518,233,419 $6,854,491,706
1980 $72,482,337,397 $7,265,315,820
1979 $51,400,186,343 $6,234,391,113
1978 $51,455,719,076 $5,303,735,111
1977 $45,808,915,663 $4,494,378,764
1976 $37,269,156,627 $3,474,542,392
1975 $30,463,855,422 $3,259,345,083
1974 $25,802,409,639 $2,969,958,812
1973 $16,273,253,012 $2,509,001,324
1972 $10,997,590,361 $2,107,279,157
1971 $9,333,536,370 $1,778,391,289
1970 $9,150,684,932 $1,603,447,359
1969 $8,337,423,313 $1,458,379,417
1968 $7,076,465,300 $1,353,295,459
1967 $5,667,756,628 $1,232,559,507
1966 - $1,164,519,674
1965 - $997,919,321
1964 - $998,759,334
1963 - $926,589,349
1962 - $868,111,401
1961 - $792,959,473
1960 - $791,265,459

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Indonesia vs Kenya by year

Indonesia
GDP per capita

GDP per capita, PPP
Kenya
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Kenya
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $2,132 $6,644
2023 $4,876 $15,416 $1,943 $6,317
2022 $4,731 $14,285 $2,110 $5,883
2021 $4,287 $12,757 $2,061 $5,339
2020 $3,854 $11,729 $1,928 $4,793
2019 $4,107 $11,986 $1,960 $4,687
2018 $3,861 $11,372 $1,836 $4,412
2017 $3,799 $10,688 $1,667 $4,177
2016 $3,521 $10,263 $1,554 $3,917
2015 $3,288 $10,028 $1,489 $3,678
2014 $3,441 $10,065 $1,483 $3,359
2013 $3,567 $9,866 $1,371 $3,106
2012 $3,632 $9,530 $1,285 $2,847
2011 $3,579 $8,937 $1,096 $2,750
2010 $3,066 $8,353 $1,092 $2,635
2009 $2,218 $7,868 $1,048 $2,480
2008 $2,125 $7,569 $916 $2,459
2007 $1,823 $7,096 $840 $2,481
2006 $1,558 $6,583 $700 $2,330
2005 $1,238 $6,134 $523 $2,189
2004 $1,127 $5,700 $464 $2,066
2003 $1,043 $5,353 $443 $1,975
2002 $881 $5,076 $403 $1,940
2001 $732 $4,849 $411 $1,961
2000 $764 $4,639 $415 $1,907
1999 $657 $4,386 $434 $1,910
1998 $455 $4,356 $488 $1,895
1997 $1,045 $5,037 $467 $1,865
1996 $1,119 $4,807 $441 $1,875
1995 $1,011 $4,451 $340 $1,818
1994 $900 $4,096 $276.4 $1,754
1993 $817 $3,793 $229 $1,723
1992 $674 $3,538 $337 $1,728
1991 $624 $3,305 $345 $1,756
1990 $578 $3,044 $374 $1,729
1989 $524 - $374 -
1988 $477 - $391 -
1987 $438 - $387 -
1986 $470 - $364 -
1985 $511 - $320 -
1984 $520 - $334 -
1983 $508 - $335 -
1982 $578 - $374 -
1981 $561 - $413 -
1980 $487 - $454 -
1979 $353 - $403 -
1978 $362 - $355 -
1977 $331 - $311 -
1976 $275.7 - $248.9 -
1975 $231.1 - $241.2 -
1974 $200.7 - $227.2 -
1973 $129.9 - $198.6 -
1972 $90.1 - $172.6 -
1971 $78.5 - $150.9 -
1970 $79.1 - $141 -
1969 $74.1 - $133.3 -
1968 $64.7 - $128.7 -
1967 $53.2 - $121.9 -
1966 - - $119.8 -
1965 - - $106.9 -
1964 - - $111.3 -
1963 - - $107.4 -
1962 - - $104.6 -
1961 - - $99.3 -
1960 - - $102.8 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $2,132 in Kenya, ranking 154/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Kenya ranks 149th at $6,644.

Economic indicators

Indonesia Kenya
Gross domestic product
$1.4T
2024
$120B
2024
GDP rank
16/197
2024
64/197
2024
GDP growth
5.03%
2023-2024
4.72%
2023-2024
GDP per capita
$4,925
2024
$2,132
2024
GDP per capita rank
121/197
2024
154/197
2024
GDP per capita, PPP
$16,448
2024
$6,644
2024
GDP per capita PPP rank
107/197
2024
149/197
2024
Government debt
$561B
2024
$81B
2024
Debt-to-GDP ratio
40.2%
2024
67.3%
2024
Government debt per person
$1,978
2024
$1,436
2024
Government debt per person rank
120/185
2024
133/185
2024
Average annual personal income after taxes
$3,371
2026
$3,229
2026
Market capitalization of domestic companies
$758B
2023
$15B
2024
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
n/a
Income share by richest 10%
28.8%
2024
30.1%
2022
Income share by poorest 10%
3.5%
2024
2.9%
2022
Government expenditure, % of GDP
16.8%
2024
23.3%
2024
Consumer prices inflation
2.18%
2023-2024
4.49%
2023-2024
Central bank interest rate
4.75%
2025
9.25%
2025
Unemployment rate
3.31%
2023
5.44%
2022
Population
288551776
58955623

Spending and national debt comparison by year

Indonesia
Spending

Debt
Kenya
Spending

Debt
1x
Year % of GDP
Indonesia Kenya
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 23.3% 67.3%
2023 16.6% 39.6% 22.7% 73.4%
2022 17.3% 40.1% 23.2% 67.8%
2021 18.1% 41.1% 24% 68.2%
2020 18.4% 39.7% 24.8% 68%
2019 16.4% 30.6% 24.4% 59.1%
2018 16.6% 30.4% 24.5% 56.4%
2017 16.4% 29.4% 25.2% 53.9%
2016 16.9% 28% 25.4% 50.4%
2015 17.6% 27% 23.8% 45.8%
2014 18.4% 24.6% 23.4% 41.3%
2013 18.8% 24.9% 23.2% 39.8%
2012 18.8% 23% 22.1% 37.6%
2011 17.7% 23.1% 20.1% 35.7%
2010 16.9% 26.4% 21.5% 36.7%
2009 17% 26.5% 20.3% 36%
2008 19.4% 30.3% 18.9% 34.3%
2007 18.7% 38.1% 18.1% 34.2%
2006 18.4% 35.8% 17.3% 37.1%
2005 17.4% 42.6% 16.2% 37.4%
2004 17.8% 51.3% 15.4% 40.8%
2003 18.2% 55.6% 16% 43.8%
2002 16.9% 62.3% 15.7% 42%
2001 19.5% 73.7% 14.9% 41.3%
2000 15.3% 87.4% 14.1% 43.1%
1999 15.1% 95.9% 13.7% 38.4%
1998 15.1% 72.5% 15.3% 38.5%
1997 15.2% 26.4% 15.6% 36%
1996 11.5% 27.5% 15.2% 40.5%
1995 11.9% 32% 17.3% 52.1%
1994 13.5% 37% 18.8% 57%
1993 14.1% 40.4% 18.9% 61.6%
1992 16.8% 42.6% 17.6% 41.2%
1991 15% 39.2% 16.4% 43%
1990 15.8% 40.8% 17.2% 37.6%
1989 16.5% 42.5% 16.3% 33.4%
1988 17.3% 45.6% 15.9% 33.9%
1987 18% 49.7% 15.5% 36.3%
1986 20.9% 38.3% 15.3% 31.3%
1985 18.5% 28% 15.6% 28.8%
1984 16.1% 23.5% 14.9% 25.6%
1983 18.2% 23.1% 14.6% 26.1%
1982 18.8% 18.6% 16.2% 26.9%
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 (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Kenya spent $28B, or 23.3% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 67.3% in Kenya, ranking 132/185 and 64/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Kenya
1x
Year Deficit/surplus, % of GDP
Indonesia Kenya
2024 -2.3% -5.77%
2023 -1.64% -5.71%
2022 -2.31% -6.06%
2021 -4.4% -7.2%
2020 -6.07% -8.13%
2019 -2.09% -7.42%
2018 -1.69% -6.94%
2017 -2.26% -7.4%
2016 -2.56% -7.47%
2015 -2.72% -6.68%
2014 -1.8% -5.75%
2013 -1.96% -5.25%
2012 -1.59% -5.29%
2011 -0.7% -3.64%
2010 -1.24% -3.67%
2009 -1.64% -3.12%
2008 0.05% -1.95%
2007 -0.95% -0.95%
2006 0.45% -0.43%
2005 0.46% -0.19%
2004 -0.26% 0.5%
2003 -1.08% -0.73%
2002 -0.58% -1.29%
2001 -1.76% -0.53%
2000 -1.87% 0.38%
1999 -0.96% 0.84%
1998 -1.89% -0.03%
1997 -1.03% -0.91%
1996 0.96% -0.49%
1995 0.64% -0.23%
1994 0.005% -4.14%
1993 -0.59% -8.57%
1992 -2.95% -8.28%
1991 -0.87% -6.56%
1990 -0.55% -3.28%
1989 -1.72% -2.39%
1988 -2.68% -1.97%
1987 -0.9% -2.27%
1986 -2.94% -2.98%
1985 -0.45% -3.05%
1984 1.83% -2.55%
1983 -1% -2.17%
1982 -1.11% -3.07%
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/indonesia/kenya | CC BY

In 2024, Indonesia's government deficit, the difference between spending and revenue, was $32.1B, equivalent to 2.3% of GDP. This compares to Kenya's deficit of $6.94B, or 5.77% of GDP.

Over the past 43 years, Indonesia recorded a fiscal deficit in 36 of those years, while Kenya ran a deficit in 40 years. On average, Indonesia posted an annual deficit equal to 1.37% of GDP, compared to deficit of 3.55% of GDP for Kenya.

Inflation comparison by year

Inflation
Indonesia

Kenya
1x
Year Consumer prices inflation
Indonesia Kenya
2024 2.18% 4.49%
2023 3.67% 7.67%
2022 4.21% 7.66%
2021 1.56% 6.11%
2020 1.92% 5.41%
2019 3.03% 5.24%
2018 3.2% 4.69%
2017 3.81% 8.01%
2016 3.53% 6.3%
2015 6.36% 6.58%
2014 6.39% 6.88%
2013 6.41% 5.72%
2012 4.28% 9.38%
2011 5.36% 14%
2010 5.13% 3.96%
2009 4.39% 9.23%
2008 10.2% 26.2%
2007 6.41% 9.76%
2006 13.1% 14.5%
2005 10.5% 10.3%
2004 6.06% 11.6%
2003 6.76% 9.82%
2002 11.9% 1.96%
2001 11.5% 5.74%
2000 3.69% 9.98%
1999 20.5% 5.74%
1998 58.5% 6.72%
1997 6.23% 11.4%

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

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

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 8.39% in Kenya. In 2024, inflation was 2.18% in Indonesia and 4.49% in Kenya.

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $224M
Wood & paper products $47.2M
Chemicals & pharma $43.7M
Textiles & consumer goods $27.3M
Machinery & equipment $9.94M
Raw materials & minerals $919K
Miscellaneous $478K
Metals $367K
Animal & marine products $91K
Raw agricultural goods $84K
Kenya
Export category Export value
Animal & marine products $2.09M
Raw agricultural goods $545K
Raw materials & minerals $398K
Machinery & equipment $319K
Processed food, beverages & tobacco $209K
Textiles & consumer goods $147K
Chemicals & pharma $82K
Metals $61K
Wood & paper products $2K

Balance of trade

Indonesia Kenya
Current account balance
-$8.72B
2024
-$1.55B
2024
Current account balance ranking
174/190
2024
134/190
2024
Current account balance, % of GDP
-0.62%
2024
-1.29%
2024
Goods imports
$223B
2024
$22.2B
2024
Goods exports
$263B
2024
$12.5B
2024
Service imports
$57.6B
2024
$5.64B
2024
Service exports
$39B
2024
$8.04B
2024
Imports of goods and services, % of GDP
20.4%
2024
23.1%
2024
Exports of goods and services, % of GDP
22.2%
2024
17.1%
2024

Economic freedom indices

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

Indonesia Kenya
Economic freedom 65.1 55.5
Economic freedom ranking 67/197 128/197
Property rights 39.7 40.2
Government integrity 42 32.7
Judicial effectiveness 43.1 47
Tax burden 81.5 76.3
Government spending 91.4 84.1
Fiscal health 89.8 36.2
Business freedom 69.2 61.5
Labor freedom 56.8 56.5
Monetary freedom 79.4 75.1
Trade freedom 78.6 52
Investment freedom 50 55
Financial freedom 60 50

Economic freedom comparison by year

Indonesia
Kenya
1x
Year Economic freedom index
Indonesia Kenya
2026 65.1 55.5
2025 65.2 54.8
2024 63.5 53.6
2023 63.5 52.5
2022 64.4 52.6
2021 66.9 54.9
2020 67.2 55.3
2019 65.8 55.1
2018 64.2 54.7
2017 61.9 53.5
2016 59.4 57.5
2015 58.1 55.6
2014 58.5 57.1
2013 56.9 55.9
2012 56.4 57.5
2011 56 57.4
2010 55.5 57.5
2009 53.4 58.7
2008 53.2 59.3
2007 53.2 59.6
2006 51.9 59.7
2005 52.9 57.9
2004 52.1 57.7
2003 55.8 58.6
2002 54.8 58.2
2001 52.5 57.6
2000 55.2 59.7
1999 61.5 58.2
1998 63.4 58.4
1997 62 60.1
1996 61 56.4
1995 54.9 54.5

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 55.5 for Kenya, ranking 128/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Kenya
Services, % of GDP
43.8%
2024
55.3%
2024
Industry, % of GDP
39.3%
2024
16.5%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
22.5%
2024
GNI, Atlas method
$1.39T
2024
$118B
2024
GNI per capita, PPP
$16,010
2024
$6,540
2024
Total reserves including gold
$156B
2024
$10.1B
2024
Total reserves ranking
20/177
2024
75/177
2024
Net foreign direct investment
-$15.9B
2024
-$45.8M
2024
Net inflows of foreign direct investment
$24.2B
2024
$463M
2024
Net outflows of foreign direct investment
$8.39B
2024
$418M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
4.79%
2024
Poverty at national poverty lines
9%
2024
39.8%
2022
Gross capital formation, % of GDP
31.4%
2024
16.8%
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/indonesia/kenya | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, 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 (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.