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Economy of Indonesia vs Liberia compared: GDP & Debt

Updated on by Georank

Indonesia has a GDP of $1.45T compared to $5.25B for Liberia, ranking 17/197 and 162/197 by economy size, respectively.

Indonesia has $593B in government debt (41% of GDP), compared to $2.88B (54.9% of GDP) in Liberia.

Indonesia vs Liberia GDP by year

Indonesia
Liberia
1x
Year GDP, current $
Indonesia Liberia
2025 $1,445,642,584,164 $5,245,938,900
2024 $1,396,301,788,462 $4,779,300,900
2023 $1,371,166,925,750 $4,390,000,000
2022 $1,319,101,183,380 $4,001,047,000
2021 $1,186,509,691,087 $3,513,049,500
2020 $1,059,054,842,698 $3,176,126,300
2019 $1,119,099,871,350 $3,319,596,500
2018 $1,042,271,532,989 $3,422,754,800
2017 $1,015,618,744,160 $3,390,703,400
2016 $931,877,364,038 $3,398,419,600
2015 $860,854,232,686 $3,227,075,700
2014 $890,814,755,534 $3,225,652,000
2013 $912,524,136,718 $3,177,198,100
2012 $917,869,913,333 $2,791,614,000
2011 $892,969,104,563 $2,398,000,000
2010 $755,094,157,622 $1,998,000,000
2009 $539,580,085,612 $1,768,000,000
2008 $510,228,634,992 $1,726,000,000
2007 $432,216,737,775 $1,373,000,000
2006 $364,570,515,618 $1,119,000,000
2005 $285,868,619,196 $949,000,000
2004 $256,836,875,295 $897,000,000
2003 $234,772,463,824 $748,000,000
2002 $195,660,611,165 $927,000,000
2001 $160,446,947,785 $906,000,000
2000 $165,021,012,078 $874,000,000
1999 $140,001,351,215 $441,800,000
1998 $95,445,547,873 $359,600,000
1997 $215,748,998,610 $295,900,000
1996 $227,369,679,375 $159,400,000
1995 $202,132,028,723 $134,800,000
1994 $176,892,143,932 $132,200,000
1993 $158,006,700,302 $160,400,000
1992 $128,026,966,580 $223,500,000
1991 $116,621,996,217 $348,000,000
1990 $106,140,727,334 $384,400,000
1989 $94,451,427,877 $786,300,000
1988 $84,300,174,486 $1,038,300,000
1987 $75,929,617,558 $972,800,000
1986 $79,954,072,545 $840,964,400
1985 $85,289,488,375 $851,296,100
1984 $84,853,700,028 $848,478,300
1983 $81,052,283,384 $823,374,900
1982 $90,158,449,295 $863,933,200
1981 $85,518,233,419 $846,514,500
1980 $72,482,337,397 $854,711,500
1979 $51,400,186,343 $814,067,900
1978 $51,455,719,076 $717,240,400
1977 $45,808,915,663 $673,010,600
1976 $37,269,156,627 $596,675,700
1975 $30,463,855,422 $577,549,300
1974 $25,802,409,639 $486,955,000
1973 $16,273,253,012 $386,968,300
1972 $10,997,590,361 $368,098,000
1971 $9,333,536,370 $341,543,100
1970 $9,150,684,932 $323,099,700
1969 $8,337,423,313 $306,961,800
1968 $7,076,465,300 $276,820,700
1967 $5,667,756,628 $261,024,300
1966 - $244,459,500
1965 - $229,260,800
1964 - $218,929,100
1963 - $200,229,600
1962 - $191,861,800
1961 - $183,920,900
1960 - $190,495,600

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

GDP per capita in Indonesia vs Liberia by year

Indonesia
GDP per capita

GDP per capita, PPP
Liberia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Liberia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $5,060 - $915 -
2024 $4,925 $16,448 $851 $1,871
2023 $4,876 $15,416 $799 $1,795
2022 $4,731 $14,285 $745 $1,692
2021 $4,287 $12,757 $668 $1,539
2020 $3,854 $11,729 $617 $1,660
2019 $4,107 $11,986 $658 $1,900
2018 $3,861 $11,372 $692 $1,800
2017 $3,799 $10,688 $699 $1,665
2016 $3,521 $10,263 $715 $1,490
2015 $3,288 $10,028 $693 $1,340
2014 $3,441 $10,065 $707 $1,419
2013 $3,567 $9,866 $711 $1,360
2012 $3,632 $9,530 $638 $1,157
2011 $3,579 $8,937 $568 $1,041
2010 $3,066 $8,353 $492 $980
2009 $2,218 $7,868 $448 $939
2008 $2,125 $7,569 $452 $915
2007 $1,823 $7,096 $374 $873
2006 $1,558 $6,583 $321 $815
2005 $1,238 $6,134 $287.5 $774
2004 $1,127 $5,700 $284.1 $745
2003 $1,043 $5,353 $239.8 $716
2002 $881 $5,076 $299.5 $1,013
2001 $732 $4,849 $300 $987
2000 $764 $4,639 $298.5 $965
1999 $657 $4,386 $156.6 $762
1998 $455 $4,356 $134.7 $652
1997 $1,045 $5,037 $122.6 $548
1996 $1,119 $4,807 $71.4 $282.2
1995 $1,011 $4,451 $62.1 $254.4
1994 $900 $4,096 $61.5 $262.6
1993 $817 $3,793 $74.4 $328
1992 $674 $3,538 $107.8 $497
1991 $624 $3,305 $177.9 $793
1990 $578 $3,044 $172.9 $787
1989 $524 - $312 -
1988 $477 - $424 -
1987 $438 - $409 -
1986 $470 - $364 -
1985 $511 - $380 -
1984 $520 - $390 -
1983 $508 - $391 -
1982 $578 - $422 -
1981 $561 - $426 -
1980 $487 - $443 -
1979 $353 - $435 -
1978 $362 - $394 -
1977 $331 - $381 -
1976 $275.7 - $347 -
1975 $231.1 - $346 -
1974 $200.7 - $299.4 -
1973 $129.9 - $244.4 -
1972 $90.1 - $238.6 -
1971 $78.5 - $227.1 -
1970 $79.1 - $220.3 -
1969 $74.1 - $214.7 -
1968 $64.7 - $198.6 -
1967 $53.2 - $192.2 -
1966 - - $184.6 -
1965 - - $177.6 -
1964 - - $173.9 -
1963 - - $163.1 -
1962 - - $160.3 -
1961 - - $157.5 -
1960 - - $167.2 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

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

Indonesia's GDP per capita is $5,060, ranking 123/197, compared to $915 in Liberia, ranking 184/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Liberia ranks 188th at $1,871.

Economic indicators

Indonesia Liberia
Gross domestic product
$1.45T
2025
$5.25B
2025
GDP rank
17/197
2025
162/197
2025
GDP growth
5.11%
2024-2025
5.02%
2024-2025
GDP per capita
$5,060
2025
$915
2025
GDP per capita rank
123/197
2025
184/197
2025
GDP per capita, PPP
$16,448
2024
$1,871
2024
GDP per capita PPP rank
107/197
2024
188/197
2024
Government debt
$593B
2025
$2.88B
2025
Debt-to-GDP ratio
41%
2025
54.9%
2025
Government debt per person
$2,076
2025
$502
2025
Government debt per person rank
119/185
2025
167/185
2025
Average annual personal income after taxes
$3,470
2026
$1,467
2026
Market capitalization of domestic companies
$950B
2025
n/a
Number of millionaires
178,605
2024
n/a
Number of billionaires
33
2026
n/a
Income share by richest 10%
28.7%
2025
27.1%
2016
Income share by poorest 10%
3.5%
2025
2.9%
2016
Government expenditure, % of GDP
16.2%
2025
22.4%
2025
Consumer prices inflation
1.91%
2024-2025
8.3%
2024-2025
Central bank interest rate
5.5%
2026
n/a
Unemployment rate
3.31%
2023
5.93%
2017
Population
289027659
5916561

Spending and national debt comparison by year

Indonesia
Spending

Debt
Liberia
Spending

Debt
1x
Year % of GDP
Indonesia Liberia
Government spending Government debt Government spending Government debt
2025 16.2% 41% 22.4% 54.9%
2024 16.9% 40.2% 24.1% 56.4%
2023 16.6% 39.6% 28.6% 57.2%
2022 17.3% 40.1% 27.4% 54.4%
2021 18.1% 41.1% 29.8% 53.5%
2020 18.4% 39.7% 35.3% 58.5%
2019 16.4% 30.6% 32.3% 48.1%
2018 16.6% 30.4% 32.7% 36.2%
2017 16.4% 29.4% 35.1% 31.8%
2016 16.9% 28% 35.8% 28%
2015 17.6% 27% 37.1% 24.4%
2014 18.4% 24.6% 33.4% 24.3%
2013 18.8% 24.9% 27.4% 20.6%
2012 18.8% 23% 30.8% 20.5%
2011 17.7% 23.1% 29.8% 22.5%
2010 16.9% 26.4% 25.1% 25.4%
2009 17% 26.5% 24% 132.2%
2008 19.4% 30.3% 21.8% 235.3%
2007 18.7% 38.1% 16.1% 367%
2006 18.4% 35.8% 10.6% 451%
2005 17.4% 42.6% 11.7% 488%
2004 17.8% 51.3% 12.1% 543%
2003 18.2% 55.6% 8.98% 600%
2002 16.9% 62.3% 12.7% 464%
2001 19.5% 73.7% 12.1% 465%
2000 15.3% 87.4% 14.5% 468%
1999 15.1% 95.9% - -
1998 15.1% 72.5% - -
1997 15.2% 26.4% - -
1996 11.5% 27.5% - -
1995 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 (1993–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

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

In 2025, Indonesia's government spending was $234B, accounting for 16.2% of its GDP, while Liberia spent $1.18B, or 22.4% of GDP.

Debt-to-GDP ratio is 41% in Indonesia and 54.9% in Liberia, ranking 130/185 and 90/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Liberia
1x
Year Deficit/surplus, % of GDP
Indonesia Liberia
2025 -2.92% -1.41%
2024 -2.28% -1.8%
2023 -1.64% -8.55%
2022 -2.31% -5.82%
2021 -4.4% -2.5%
2020 -6.07% -4.02%
2019 -2.09% -4.92%
2018 -1.69% -4.7%
2017 -2.26% -7.14%
2016 -2.56% -3.83%
2015 -2.72% -3.74%
2014 -1.8% -4.92%
2013 -1.96% 1.29%
2012 -1.59% -2.86%
2011 -0.7% -4.39%
2010 -1.24% 1.16%
2009 -1.64% -1.4%
2008 0.05% -2.7%
2007 -0.95% 2.28%
2006 0.45% 4.23%
2005 0.46% -0.51%
2004 -0.26% -0.56%
2003 -1.08% 0.36%
2002 -0.58% -1.57%
2001 -1.76% -0.94%
2000 -1.87% -0.08%
1999 -0.96% -
1998 -1.89% -
1997 -1.03% -
1996 0.96% -
1995 0.64% -
1994 0.005% -
1993 -0.59% -
1992 -1.54% -
1991 0.51% -
1990 0.97% -
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 (1990–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1951–1992, retrieved 2026-07-08).

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

In 2025, Indonesia's government deficit, the difference between spending and revenue, was $42.2B, equivalent to 2.92% of GDP. This compares to Liberia's deficit of $74.2M, or 1.41% of GDP.

Over the past 26 years, Indonesia recorded a fiscal deficit in 23 of those years, while Liberia ran a deficit in 21 years. On average, Indonesia posted an annual deficit equal to 1.75% of GDP, compared to deficit of 2.27% of GDP for Liberia.

Inflation comparison by year

Inflation
Indonesia

Liberia
1x
Year Consumer prices inflation
Indonesia Liberia
2025 1.91% 8.3%
2024 2.18% 8.2%
2023 3.67% 10.1%
2022 4.21% 7.6%
2021 1.56% 7.8%
2020 1.92% 17%
2019 3.03% 27%
2018 3.2% 23.5%
2017 3.81% 12.4%
2016 3.53% 8.8%
2015 6.36% 7.7%
2014 6.39% 9.9%
2013 6.41% 7.6%
2012 4.28% 6.8%
2011 5.36% 8.5%
2010 5.13% 7.3%
2009 4.39% 7.4%
2008 10.2% 17.5%
2007 6.41% 11.4%
2006 13.1% 9.5%
2005 10.5% 6.9%
2004 6.06% 3.6%
2003 6.76% 10.3%
2002 11.9% 14.2%
2001 11.5% 12.1%
2000 3.69% 5.3%
1999 20.5% 2%
1998 58.5% -
1997 6.23% -

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (1999–2025, retrieved 2026-07-08).

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

Over the past 27 years, Indonesia has recorded an average annual inflation rate of 6.22%, compared with 10.3% in Liberia. In 2025, inflation was 1.91% in Indonesia and 8.3% in Liberia.

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $39.6M
Raw materials & minerals $5.95M
Chemicals & pharma $3.76M
Machinery & equipment $3.18M
Wood & paper products $1.05M
Metals $303K
Textiles & consumer goods $214K
Weapons & explosives $69K
Raw agricultural goods $47K
Miscellaneous $2K
Liberia
Export category Export value
Processed food, beverages & tobacco $420K
Machinery & equipment $61K
Raw materials & minerals $40K

Balance of trade

Indonesia Liberia
Current account balance
-$1.52B
2025
$120M
2024
Current account balance ranking
129/190
2025
62/190
2024
Current account balance, % of GDP
-0.11%
2025
+2.51%
2024
Goods imports
$231B
2025
$1.51B
2024
Goods exports
$280B
2025
$1.31B
2024
Service imports
$63B
2025
$253M
2024
Service exports
$42.5B
2025
$42.6M
2024
Imports of goods and services, % of GDP
20.5%
2025
n/a
Exports of goods and services, % of GDP
22.8%
2025
28.5%
2026

Economic freedom indices

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

Indonesia Liberia
Economic freedom 65.1 49.8
Economic freedom ranking 67/197 163/197
Property rights 39.7 40.4
Government integrity 42 25.8
Judicial effectiveness 43.1 23.4
Tax burden 81.5 86.1
Government spending 91.4 79.5
Fiscal health 89.8 56.9
Business freedom 69.2 38
Labor freedom 56.8 43.4
Monetary freedom 79.4 71.4
Trade freedom 78.6 57.4
Investment freedom 50 55
Financial freedom 60 20

Economic freedom comparison by year

Indonesia
Liberia
1x
Year Economic freedom index
Indonesia Liberia
2026 65.1 49.8
2025 65.2 48.5
2024 63.5 49.9
2023 63.5 49.6
2022 64.4 47.9
2021 66.9 49.2
2020 67.2 49
2019 65.8 49.7
2018 64.2 50.9
2017 61.9 49.1
2016 59.4 52.2
2015 58.1 52.7
2014 58.5 52.4
2013 56.9 49.3
2012 56.4 48.6
2011 56 46.5
2010 55.5 46.2
2009 53.4 48.1
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 2026-07-08).

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 49.8 for Liberia, ranking 163/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Liberia
Services, % of GDP
43.9%
2025
40%
2025
Industry, % of GDP
38.7%
2025
24.5%
2025
Agriculture, forestry, and fishing, % of GDP
13.1%
2025
32.7%
2025
GNI, Atlas method
$1.46T
2025
$4.76B
2025
GNI per capita, PPP
$17,190
2025
$1,840
2025
Total reserves including gold
$157B
2025
$339M
2025
Total reserves ranking
22/177
2025
166/177
2025
Net foreign direct investment
-$14.4B
2025
-$397M
2024
Net inflows of foreign direct investment
$24.3B
2024
$472M
2024
Net outflows of foreign direct investment
$8.39B
2024
$74.9M
2024
Servicing debt to the IMF, % of GNI
5.64%
2024
3.12%
2024
Poverty at national poverty lines
9%
2024
50.9%
2016
Gross capital formation, % of GDP
30.6%
2025
n/a

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

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

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2025, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1951–1999, retrieved 2026-07-08)
  4. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-07-08)
  5. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  6. TradeMap (2022–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.