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Economy of Indonesia vs Morocco compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $161B for Morocco, ranking 16/197 and 58/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $109B (67.7% of GDP) in Morocco.

Indonesia vs Morocco GDP by year

Indonesia
Morocco
1x
Year GDP, current $
Indonesia Morocco
2024 $1,396,300,098,191 $160,610,994,055
2023 $1,371,169,301,564 $146,036,093,667
2022 $1,319,101,183,380 $131,245,312,804
2021 $1,186,509,691,087 $142,022,058,447
2020 $1,059,054,842,698 $121,353,645,057
2019 $1,119,099,871,350 $128,920,266,409
2018 $1,042,271,532,989 $127,341,147,582
2017 $1,015,618,744,160 $118,540,573,368
2016 $931,877,364,038 $111,572,947,005
2015 $860,854,232,686 $110,413,823,842
2014 $890,814,755,534 $119,130,841,412
2013 $912,524,136,718 $115,739,287,305
2012 $917,869,913,333 $106,937,392,311
2011 $892,969,104,563 $110,080,631,332
2010 $755,094,157,622 $100,865,329,473
2009 $539,580,085,612 $101,154,952,241
2008 $510,228,634,992 $101,822,906,949
2007 $432,216,737,775 $86,947,913,287
2006 $364,570,515,618 $75,883,823,301
2005 $285,868,619,196 $68,852,658,069
2004 $256,836,875,295 $66,114,145,451
2003 $234,772,463,824 $58,029,363,354
2002 $195,660,611,165 $47,077,192,188
2001 $160,446,947,785 $43,831,480,208
2000 $165,021,012,078 $43,017,455,402
1999 $140,001,351,215 $46,266,428,648
1998 $95,445,547,873 $46,497,608,725
1997 $215,748,998,610 $39,147,844,526
1996 $227,369,679,375 $43,161,571,528
1995 $202,132,028,723 $39,030,285,468
1994 $176,892,143,932 $35,604,137,423
1993 $158,006,700,302 $31,655,473,664
1992 $128,026,966,580 $33,711,069,431
1991 $116,621,996,217 $32,285,573,574
1990 $106,140,727,334 $30,179,954,775
1989 $94,451,427,877 $26,314,313,191
1988 $84,300,174,486 $25,705,296,184
1987 $75,929,617,558 $21,765,195,948
1986 $79,954,072,545 $19,462,085,540
1985 $85,289,488,375 $14,991,283,216
1984 $84,853,700,028 $14,824,667,954
1983 $81,052,283,384 $16,251,408,128
1982 $90,158,449,295 $17,692,276,734
1981 $85,518,233,419 $17,788,185,479
1980 $72,482,337,397 $21,728,516,153
1979 $51,400,186,343 $15,911,994,817
1978 $51,455,719,076 $13,236,946,234
1977 $45,808,915,663 $11,049,783,872
1976 $37,269,156,627 $9,584,297,284
1975 $30,463,855,422 $8,984,853,005
1974 $25,802,409,639 $7,675,466,449
1973 $16,273,253,012 $6,242,145,880
1972 $10,997,590,361 $5,074,117,545
1971 $9,333,536,370 $4,356,669,034
1970 $9,150,684,932 $3,956,336,244
1969 $8,337,423,313 $3,651,622,669
1968 $7,076,465,300 $3,271,422,333
1967 $5,667,756,628 $3,046,345,314
1966 - $2,876,401,297
1965 - $2,948,331,090
1964 - $2,798,345,299
1963 - $2,657,252,578
1962 - $2,379,611,125
1961 - $2,025,693,540
1960 - $2,037,154,742

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

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

GDP per capita in Indonesia vs Morocco by year

Indonesia
GDP per capita

GDP per capita, PPP
Morocco
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Morocco
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $4,218 $10,415
2023 $4,876 $15,416 $3,872 $9,895
2022 $4,731 $14,285 $3,516 $9,310
2021 $4,287 $12,757 $3,843 $8,623
2020 $3,854 $11,729 $3,317 $7,705
2019 $4,107 $11,986 $3,560 $8,046
2018 $3,861 $11,372 $3,553 $7,801
2017 $3,799 $10,688 $3,344 $8,115
2016 $3,521 $10,263 $3,186 $7,853
2015 $3,288 $10,028 $3,190 $7,799
2014 $3,441 $10,065 $3,483 $7,237
2013 $3,567 $9,866 $3,425 $7,542
2012 $3,632 $9,530 $3,206 $7,308
2011 $3,579 $8,937 $3,345 $7,274
2010 $3,066 $8,353 $3,107 $6,849
2009 $2,218 $7,868 $3,158 $6,629
2008 $2,125 $7,569 $3,222 $6,437
2007 $1,823 $7,096 $2,788 $6,058
2006 $1,558 $6,583 $2,466 $5,781
2005 $1,238 $6,134 $2,268 $5,275
2004 $1,127 $5,700 $2,207 $5,025
2003 $1,043 $5,353 $1,962 $4,741
2002 $881 $5,076 $1,612 $4,436
2001 $732 $4,849 $1,521 $4,269
2000 $764 $4,639 $1,513 $3,930
1999 $657 $4,386 $1,651 $3,801
1998 $455 $4,356 $1,683 $3,740
1997 $1,045 $5,037 $1,439 $3,502
1996 $1,119 $4,807 $1,610 $3,551
1995 $1,011 $4,451 $1,478 $3,152
1994 $900 $4,096 $1,369 $3,315
1993 $817 $3,793 $1,236 $2,979
1992 $674 $3,538 $1,337 $2,979
1991 $624 $3,305 $1,302 $3,025
1990 $578 $3,044 $1,238 $2,777
1989 $524 - $1,099 -
1988 $477 - $1,094 -
1987 $438 - $944 -
1986 $470 - $861 -
1985 $511 - $678 -
1984 $520 - $687 -
1983 $508 - $772 -
1982 $578 - $862 -
1981 $561 - $890 -
1980 $487 - $1,117 -
1979 $353 - $839 -
1978 $362 - $716 -
1977 $331 - $613 -
1976 $275.7 - $545 -
1975 $231.1 - $524 -
1974 $200.7 - $459 -
1973 $129.9 - $382 -
1972 $90.1 - $319 -
1971 $78.5 - $280.6 -
1970 $79.1 - $261.5 -
1969 $74.1 - $247.8 -
1968 $64.7 - $228 -
1967 $53.2 - $218.1 -
1966 - - $211.5 -
1965 - - $222.7 -
1964 - - $216.9 -
1963 - - $211.3 -
1962 - - $194.2 -
1961 - - $169.8 -
1960 - - $175.2 -

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

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

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $4,218 in Morocco, ranking 127/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Morocco ranks 132nd at $10,415.

Economic indicators

Indonesia Morocco
Gross domestic product
$1.4T
2024
$161B
2024
GDP rank
16/197
2024
58/197
2024
GDP growth
5.03%
2023-2024
3.79%
2023-2024
GDP per capita
$4,925
2024
$4,218
2024
GDP per capita rank
121/197
2024
127/197
2024
GDP per capita, PPP
$16,448
2024
$10,415
2024
GDP per capita PPP rank
107/197
2024
132/197
2024
Government debt
$561B
2024
$109B
2024
Debt-to-GDP ratio
40.2%
2024
67.7%
2024
Government debt per person
$1,978
2024
$2,857
2024
Government debt per person rank
120/185
2024
104/185
2024
Average annual personal income after taxes
$3,371
2026
$5,678
2026
Market capitalization of domestic companies
$758B
2023
$74.5B
2024
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
3
2025
Income share by richest 10%
28.8%
2024
31.9%
2013
Income share by poorest 10%
3.5%
2024
2.7%
2013
Government expenditure, % of GDP
16.8%
2024
33%
2024
Consumer prices inflation
2.18%
2023-2024
0.99%
2023-2024
Central bank interest rate
4.75%
2025
2.25%
2025
Unemployment rate
3.31%
2023
11.8%
2022
Population
288551776
38871720

Spending and national debt comparison by year

Indonesia
Spending

Debt
Morocco
Spending

Debt
1x
Year % of GDP
Indonesia Morocco
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 33% 67.7%
2023 16.6% 39.6% 32% 68.7%
2022 17.3% 40.1% 33.7% 71.4%
2021 18.1% 41.1% 31% 69.4%
2020 18.4% 39.7% 34.1% 72.2%
2019 16.4% 30.6% 27.6% 60.3%
2018 16.6% 30.4% 27.8% 60.5%
2017 16.4% 29.4% 27.9% 60.3%
2016 16.9% 28% 28.6% 60.1%
2015 17.6% 27% 28.5% 58.4%
2014 18.4% 24.6% 30.7% 58.6%
2013 18.8% 24.9% 30.4% 57.1%
2012 18.8% 23% 32.5% 52.3%
2011 17.7% 23.1% 31.2% 48.6%
2010 16.9% 26.4% 28.7% 45.3%
2009 17% 26.5% 28.1% 42.6%
2008 19.4% 30.3% 28.3% 42%
2007 18.7% 38.1% 26.4% 47.1%
2006 18.4% 35.8% 26% 50.6%
2005 17.4% 42.6% 28.6% 54.8%
2004 17.8% 51.3% 24.5% 54.4%
2003 18.2% 55.6% 24.1% 56.9%
2002 16.9% 62.3% 25.8% 59.4%
2001 19.5% 73.7% 23.7% 60.4%
2000 15.3% 87.4% 22.8% 64.9%
1999 15.1% 95.9% 18.4% 63.4%
1998 15.1% 72.5% 18.7% 64.5%
1997 15.2% 26.4% 18.6% 68%
1996 11.5% 27.5% 17.6% 65.3%
1995 11.9% 32% 21.3% 72.2%
1994 13.5% 37% 21.7% 69.3%
1993 14.1% 40.4% 23.1% 74.7%
1992 16.8% 42.6% 22.3% 67%
1991 15% 39.2% 20.8% 59.1%
1990 15.8% 40.8% 22.6% 70.5%
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 (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/morocco | CC BY

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Morocco spent $53.1B, or 33% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 67.7% in Morocco, ranking 132/185 and 60/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Morocco
1x
Year Deficit/surplus, % of GDP
Indonesia Morocco
2024 -2.3% -3.92%
2023 -1.64% -4.41%
2022 -2.31% -5.37%
2021 -4.4% -5.92%
2020 -6.07% -7.15%
2019 -2.09% -3.8%
2018 -1.69% -3.52%
2017 -2.26% -3.3%
2016 -2.56% -4.49%
2015 -2.72% -4.59%
2014 -1.8% -4.78%
2013 -1.96% -4.7%
2012 -1.59% -6.63%
2011 -0.7% -6.08%
2010 -1.24% -3.93%
2009 -1.64% -1.63%
2008 0.05% 0.63%
2007 -0.95% -0.12%
2006 0.45% -1.8%
2005 0.46% -5.46%
2004 -0.26% -3.31%
2003 -1.08% -3.74%
2002 -0.58% -4.37%
2001 -1.76% -3.79%
2000 -1.87% -1.97%
1999 -0.96% 3.21%
1998 -1.89% 1.47%
1997 -1.03% 1.5%
1996 0.96% 0.87%
1995 0.64% -2.54%
1994 0.005% -2.51%
1993 -0.59% -2%
1992 -2.95% -1.84%
1991 -0.87% -0.9%
1990 -0.55% -1.32%
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/indonesia/morocco | 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 Morocco's deficit of $6.3B, or 3.92% of GDP.

Over the past 35 years, Indonesia recorded a fiscal deficit in 29 of those years, while Morocco ran a deficit in 30 years. On average, Indonesia posted an annual deficit equal to 1.42% of GDP, compared to deficit of 2.92% of GDP for Morocco.

Inflation comparison by year

Inflation
Indonesia

Morocco
1x
Year Consumer prices inflation
Indonesia Morocco
2024 2.18% 0.99%
2023 3.67% 6.09%
2022 4.21% 6.66%
2021 1.56% 1.4%
2020 1.92% 0.71%
2019 3.03% 0.3%
2018 3.2% 1.8%
2017 3.81% 0.75%
2016 3.53% 1.64%
2015 6.36% 1.56%
2014 6.39% 0.44%
2013 6.41% 1.88%
2012 4.28% 1.29%
2011 5.36% 0.91%
2010 5.13% 0.99%
2009 4.39% 0.97%
2008 10.2% 3.71%
2007 6.41% 2.04%
2006 13.1% 3.28%
2005 10.5% 0.98%
2004 6.06% 1.49%
2003 6.76% 1.17%
2002 11.9% 2.8%
2001 11.5% 0.62%
2000 3.69% 1.89%
1999 20.5% 0.68%
1998 58.5% 2.75%
1997 6.23% 1.04%

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

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

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 1.82% in Morocco. In 2024, inflation was 2.18% in Indonesia and 0.99% in Morocco.

Top exports between countries

Indonesia
Export category Export value
Raw agricultural goods $39.2M
Processed food, beverages & tobacco $33.2M
Raw materials & minerals $28.4M
Textiles & consumer goods $24.5M
Machinery & equipment $9.73M
Metals $7.72M
Wood & paper products $4.35M
Chemicals & pharma $1.56M
Miscellaneous $407K
Animal & marine products $276K
Morocco
Export category Export value
Raw materials & minerals $67.4M
Metals $3.61M
Raw agricultural goods $979K
Processed food, beverages & tobacco $916K
Precious metals & jewellery $665K
Textiles & consumer goods $134K
Chemicals & pharma $64K
Animal & marine products $59K
Machinery & equipment $43K

Balance of trade

Indonesia Morocco
Current account balance
-$8.72B
2024
-$1.87B
2024
Current account balance ranking
174/190
2024
141/190
2024
Current account balance, % of GDP
-0.62%
2024
-1.16%
2024
Goods imports
$223B
2024
$66.5B
2024
Goods exports
$263B
2024
$39.3B
2024
Service imports
$57.6B
2024
$14.3B
2024
Service exports
$39B
2024
$28.2B
2024
Imports of goods and services, % of GDP
20.4%
2024
50.2%
2024
Exports of goods and services, % of GDP
22.2%
2024
42%
2024

Economic freedom indices

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

Indonesia Morocco
Economic freedom 65.1 61.8
Economic freedom ranking 67/197 91/197
Property rights 39.7 55.2
Government integrity 42 35.6
Judicial effectiveness 43.1 32.5
Tax burden 81.5 65.5
Government spending 91.4 67.5
Fiscal health 89.8 57.5
Business freedom 69.2 72.1
Labor freedom 56.8 46.2
Monetary freedom 79.4 79.6
Trade freedom 78.6 69.8
Investment freedom 50 80
Financial freedom 60 80

Economic freedom comparison by year

Indonesia
Morocco
1x
Year Economic freedom index
Indonesia Morocco
2026 65.1 61.8
2025 65.2 60.3
2024 63.5 56.8
2023 63.5 58.4
2022 64.4 59.2
2021 66.9 63.3
2020 67.2 63.3
2019 65.8 62.9
2018 64.2 61.9
2017 61.9 61.5
2016 59.4 61.3
2015 58.1 60.1
2014 58.5 58.3
2013 56.9 59.6
2012 56.4 60.2
2011 56 59.6
2010 55.5 59.2
2009 53.4 57.7
2008 53.2 55.6
2007 53.2 56.4
2006 51.9 51.5
2005 52.9 52.2
2004 52.1 56.7
2003 55.8 57.8
2002 54.8 59
2001 52.5 63.9
2000 55.2 63.2
1999 61.5 63.8
1998 63.4 61.1
1997 62 64.7
1996 61 64.3
1995 54.9 62.8

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 61.8 for Morocco, ranking 91/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Morocco
Services, % of GDP
43.8%
2024
52.7%
2024
Industry, % of GDP
39.3%
2024
25.6%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
10.6%
2024
GNI, Atlas method
$1.39T
2024
$149B
2024
GNI per capita, PPP
$16,010
2024
$10,260
2024
Total reserves including gold
$156B
2024
$37.1B
2024
Total reserves ranking
20/177
2024
52/177
2024
Net foreign direct investment
-$15.9B
2024
-$948M
2024
Net inflows of foreign direct investment
$24.2B
2024
$1.64B
2024
Net outflows of foreign direct investment
$8.39B
2024
$691M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
5.63%
2024
Poverty at national poverty lines
9%
2024
3.9%
2022
Gross capital formation, % of GDP
31.4%
2024
30.1%
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/morocco | 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 (2022–2024, 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.