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Economy of Indonesia vs Rwanda compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $14.3B for Rwanda, ranking 16/197 and 144/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $9.58B (67.2% of GDP) in Rwanda.

Indonesia vs Rwanda GDP by year

Indonesia
Rwanda
1x
Year GDP, current $
Indonesia Rwanda
2024 $1,396,300,098,191 $14,251,642,235
2023 $1,371,169,301,564 $14,331,722,703
2022 $1,319,101,183,380 $13,316,161,002
2021 $1,186,509,691,087 $11,078,787,090
2020 $1,059,054,842,698 $10,174,386,857
2019 $1,119,099,871,350 $10,349,300,277
2018 $1,042,271,532,989 $9,637,904,521
2017 $1,015,618,744,160 $9,252,833,891
2016 $931,877,364,038 $8,695,272,058
2015 $860,854,232,686 $8,543,760,200
2014 $890,814,755,534 $8,238,966,124
2013 $912,524,136,718 $7,819,964,030
2012 $917,869,913,333 $7,654,761,050
2011 $892,969,104,563 $6,884,913,658
2010 $755,094,157,622 $6,124,756,654
2009 $539,580,085,612 $5,674,476,969
2008 $510,228,634,992 $5,179,854,065
2007 $432,216,737,775 $4,070,507,895
2006 $364,570,515,618 $3,319,784,539
2005 $285,868,619,196 $2,933,819,766
2004 $256,836,875,295 $2,376,496,067
2003 $234,772,463,824 $2,138,237,279
2002 $195,660,611,165 $1,966,003,468
2001 $160,446,947,785 $1,966,600,715
2000 $165,021,012,078 $2,068,836,754
1999 $140,001,351,215 $2,157,108,263
1998 $95,445,547,873 $1,989,343,546
1997 $215,748,998,610 $1,851,558,197
1996 $227,369,679,375 $1,382,334,879
1995 $202,132,028,723 $1,293,535,193
1994 $176,892,143,932 $753,636,370
1993 $158,006,700,302 $1,971,525,712
1992 $128,026,966,580 $2,029,026,962
1991 $116,621,996,217 $1,911,600,237
1990 $106,140,727,334 $2,550,185,679
1989 $94,451,427,877 $2,405,022,593
1988 $84,300,174,486 $2,395,492,687
1987 $75,929,617,558 $2,157,432,668
1986 $79,954,072,545 $1,944,710,684
1985 $85,289,488,375 $1,715,626,331
1984 $84,853,700,028 $1,587,413,084
1983 $81,052,283,384 $1,479,687,587
1982 $90,158,449,295 $1,407,243,139
1981 $85,518,233,419 $1,407,062,527
1980 $72,482,337,397 $1,254,765,642
1979 $51,400,186,343 $1,109,346,131
1978 $51,455,719,076 $905,709,076
1977 $45,808,915,663 $746,650,613
1976 $37,269,156,627 $637,753,853
1975 $30,463,855,422 $571,863,500
1974 $25,802,409,639 $308,458,423
1973 $16,273,253,012 $290,746,157
1972 $10,997,590,361 $246,457,838
1971 $9,333,536,370 $222,952,504
1970 $9,150,684,932 $219,900,006
1969 $8,337,423,313 $188,700,037
1968 $7,076,465,300 $172,200,018
1967 $5,667,756,628 $159,560,018
1966 - $124,525,703
1965 - $148,799,980
1964 - $129,999,994
1963 - $128,000,000
1962 - $125,000,008
1961 - $122,000,016
1960 - $119,000,024

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

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

GDP per capita in Indonesia vs Rwanda by year

Indonesia
GDP per capita

GDP per capita, PPP
Rwanda
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Rwanda
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $1,000 $3,711
2023 $4,876 $15,416 $1,027 $3,399
2022 $4,731 $14,285 $975 $3,099
2021 $4,287 $12,757 $830 $2,733
2020 $3,854 $11,729 $779 $2,285
2019 $4,107 $11,986 $810 $2,336
2018 $3,861 $11,372 $772 $2,125
2017 $3,799 $10,688 $758 $1,968
2016 $3,521 $10,263 $730 $1,866
2015 $3,288 $10,028 $734 $1,781
2014 $3,441 $10,065 $725 $1,678
2013 $3,567 $9,866 $705 $1,512
2012 $3,632 $9,530 $707 $1,455
2011 $3,579 $8,937 $651 $1,413
2010 $3,066 $8,353 $594 $1,314
2009 $2,218 $7,868 $564 $1,241
2008 $2,125 $7,569 $528 $1,191
2007 $1,823 $7,096 $426 $1,079
2006 $1,558 $6,583 $357 $1,002
2005 $1,238 $6,134 $324 $914
2004 $1,127 $5,700 $269.5 $832
2003 $1,043 $5,353 $249 $775
2002 $881 $5,076 $234 $760
2001 $732 $4,849 $237.3 $670
2000 $764 $4,639 $251.9 $609
1999 $657 $4,386 $264.7 $554
1998 $455 $4,356 $246.2 $528
1997 $1,045 $5,037 $238.7 $500
1996 $1,119 $4,807 $206 $499
1995 $1,011 $4,451 $228 $514
1994 $900 $4,096 $111 $311
1993 $817 $3,793 $247 $521
1992 $674 $3,538 $264.1 $575
1991 $624 $3,305 $254 $542
1990 $578 $3,044 $346 $549
1989 $524 - $335 -
1988 $477 - $344 -
1987 $438 - $320 -
1986 $470 - $297.7 -
1985 $511 - $271.6 -
1984 $520 - $259.9 -
1983 $508 - $250.6 -
1982 $578 - $246.4 -
1981 $561 - $254.6 -
1980 $487 - $234.4 -
1979 $353 - $213.8 -
1978 $362 - $179.9 -
1977 $331 - $152.7 -
1976 $275.7 - $134.4 -
1975 $231.1 - $124.1 -
1974 $200.7 - $68.9 -
1973 $129.9 - $66.9 -
1972 $90.1 - $58.4 -
1971 $78.5 - $54.4 -
1970 $79.1 - $55.2 -
1969 $74.1 - $48.9 -
1968 $64.7 - $46 -
1967 $53.2 - $44 -
1966 - - $35.4 -
1965 - - $43.5 -
1964 - - $39 -
1963 - - $39.3 -
1962 - - $39.2 -
1961 - - $39.3 -
1960 - - $39.4 -

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

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

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $1,000 in Rwanda, ranking 178/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Rwanda ranks 168th at $3,711.

Economic indicators

Indonesia Rwanda
Gross domestic product
$1.4T
2024
$14.3B
2024
GDP rank
16/197
2024
144/197
2024
GDP growth
5.03%
2023-2024
8.89%
2023-2024
GDP per capita
$4,925
2024
$1,000
2024
GDP per capita rank
121/197
2024
178/197
2024
GDP per capita, PPP
$16,448
2024
$3,711
2024
GDP per capita PPP rank
107/197
2024
168/197
2024
Government debt
$561B
2024
$9.58B
2024
Debt-to-GDP ratio
40.2%
2024
67.2%
2024
Government debt per person
$1,978
2024
$672
2024
Government debt per person rank
120/185
2024
157/185
2024
Average annual personal income after taxes
$3,371
2026
$2,194
2026
Market capitalization of domestic companies
$758B
2023
$2.75B
2024
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
n/a
Income share by richest 10%
28.8%
2024
33.4%
2023
Income share by poorest 10%
3.5%
2024
3.1%
2023
Government expenditure, % of GDP
16.8%
2024
28.8%
2024
Consumer prices inflation
2.18%
2023-2024
1.77%
2023-2024
Central bank interest rate
4.75%
2025
6.75%
2025
Unemployment rate
3.31%
2023
11.3%
2024
Population
288551776
14975051

Spending and national debt comparison by year

Indonesia
Spending

Debt
Rwanda
Spending

Debt
1x
Year % of GDP
Indonesia Rwanda
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 28.8% 67.2%
2023 16.6% 39.6% 27% 63.4%
2022 17.3% 40.1% 29.7% 60.9%
2021 18.1% 41.1% 31.6% 67.3%
2020 18.4% 39.7% 33.5% 68.7%
2019 16.4% 30.6% 28.2% 53.6%
2018 16.6% 30.4% 26.4% 49.2%
2017 16.4% 29.4% 25.1% 45.6%
2016 16.9% 28% 25.1% 41.1%
2015 17.6% 27% 26.6% 33.1%
2014 18.4% 24.6% 27.5% 29.1%
2013 18.8% 24.9% 26.2% 26.7%
2012 18.8% 23% 24.6% 19.1%
2011 17.7% 23.1% 24.7% 18.7%
2010 16.9% 26.4% 23.8% 18.8%
2009 17% 26.5% 22.3% 18.5%
2008 19.4% 30.3% 22.5% 18.3%
2007 18.7% 38.1% 22.4% 22.1%
2006 18.4% 35.8% 20.6% 22.5%
2005 17.4% 42.6% 19.9% 58.9%
2004 17.8% 51.3% 17.9% 80.9%
2003 18.2% 55.6% 18.5% 79.5%
2002 16.9% 62.3% 20.5% 92%
2001 19.5% 73.7% 19.1% 84%
2000 15.3% 87.4% 18.2% 86%
1999 15.1% 95.9% 22.4% 78.4%
1998 15.1% 72.5% 16.4% 70.1%
1997 15.2% 26.4% 17% 72.2%
1996 11.5% 27.5% 19.5% 83.4%
1995 11.9% 32% 18% 100.8%
1994 13.5% 37% 13.3% -
1993 14.1% 40.4% 20.3% -
1992 16.8% 42.6% 21.5% -
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 (1992–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Rwanda spent $4.1B, or 28.8% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 67.2% in Rwanda, ranking 132/185 and 65/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Rwanda
1x
Year Deficit/surplus, % of GDP
Indonesia Rwanda
2024 -2.3% -6.57%
2023 -1.64% -5.04%
2022 -2.31% -5.74%
2021 -4.4% -7%
2020 -6.07% -9.54%
2019 -2.09% -5.08%
2018 -1.69% -2.57%
2017 -2.26% -2.52%
2016 -2.56% -2.27%
2015 -2.72% -2.68%
2014 -1.8% -3.92%
2013 -1.96% -1.27%
2012 -1.59% -2.38%
2011 -0.7% -0.86%
2010 -1.24% -0.64%
2009 -1.64% 0.26%
2008 0.05% 0.83%
2007 -0.95% -1.56%
2006 0.45% -0.03%
2005 0.46% 1.12%
2004 -0.26% 2.27%
2003 -1.08% -1.23%
2002 -0.58% -2.03%
2001 -1.76% -1.8%
2000 -1.87% -0.22%
1999 -0.96% -4.41%
1998 -1.89% -2.59%
1997 -1.03% -2.22%
1996 0.96% -5.01%
1995 0.64% -2.04%
1994 0.005% -9.54%
1993 -0.59% -6.6%
1992 -2.95% -7.21%
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/indonesia/rwanda | 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 Rwanda's deficit of $936M, or 6.57% of GDP.

Over the past 33 years, Indonesia recorded a fiscal deficit in 27 of those years, while Rwanda ran a deficit in 29 years. On average, Indonesia posted an annual deficit equal to 1.46% of GDP, compared to deficit of 3.03% of GDP for Rwanda.

Inflation comparison by year

Inflation
Indonesia

Rwanda
1x
Year Consumer prices inflation
Indonesia Rwanda
2024 2.18% 1.77%
2023 3.67% 19.8%
2022 4.21% 17.7%
2021 1.56% -0.39%
2020 1.92% 9.85%
2019 3.03% 3.35%
2018 3.2% -0.31%
2017 3.81% 8.28%
2016 3.53% 7.17%
2015 6.36% 2.53%
2014 6.39% 2.35%
2013 6.41% 5.92%
2012 4.28% 10.3%
2011 5.36% 3.08%
2010 5.13% -0.25%
2009 4.39% 12.9%
2008 10.2% 15.4%
2007 6.41% 9.08%
2006 13.1% 8.88%
2005 10.5% 9.01%
2004 6.06% 12.3%
2003 6.76% 7.45%
2002 11.9% 1.99%
2001 11.5% 3.34%
2000 3.69% 3.9%
1999 20.5% -2.41%
1998 58.5% 6.21%
1997 6.23% 12%

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

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

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 6.83% in Rwanda. In 2024, inflation was 2.18% in Indonesia and 1.77% in Rwanda.

Top exports between countries

Indonesia
Export category Export value
Chemicals & pharma $1.01M
Processed food, beverages & tobacco $342K
Textiles & consumer goods $164K
Wood & paper products $81K
Animal & marine products $37K
Machinery & equipment $26K
Miscellaneous $12K
Precious metals & jewellery $10K
Metals $6K
Rwanda
Export category Export value
Raw agricultural goods $66K
Raw materials & minerals $25K
Textiles & consumer goods $6K
Chemicals & pharma $2K
Wood & paper products $2K
Miscellaneous $1K
Precious metals & jewellery $1K

Balance of trade

Indonesia Rwanda
Current account balance
-$8.72B
2024
-$1.81B
2024
Current account balance ranking
174/190
2024
140/190
2024
Current account balance, % of GDP
-0.62%
2024
-12.7%
2024
Goods imports
$223B
2024
$5.55B
2024
Goods exports
$263B
2024
$3.2B
2024
Service imports
$57.6B
2024
$991M
2024
Service exports
$39B
2024
$1.08B
2024
Imports of goods and services, % of GDP
20.4%
2024
39.1%
2024
Exports of goods and services, % of GDP
22.2%
2024
30.8%
2024

Economic freedom indices

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

Indonesia Rwanda
Economic freedom 65.1 56.5
Economic freedom ranking 67/197 121/197
Property rights 39.7 60.3
Government integrity 42 53.9
Judicial effectiveness 43.1 27.5
Tax burden 81.5 80.6
Government spending 91.4 75.7
Fiscal health 89.8 37.5
Business freedom 69.2 60.1
Labor freedom 56.8 49.1
Monetary freedom 79.4 72.3
Trade freedom 78.6 61.8
Investment freedom 50 60
Financial freedom 60 40

Economic freedom comparison by year

Indonesia
Rwanda
1x
Year Economic freedom index
Indonesia Rwanda
2026 65.1 56.5
2025 65.2 54.8
2024 63.5 51.6
2023 63.5 52.2
2022 64.4 57.1
2021 66.9 68.3
2020 67.2 70.9
2019 65.8 71.1
2018 64.2 69.1
2017 61.9 67.6
2016 59.4 63.1
2015 58.1 64.8
2014 58.5 64.7
2013 56.9 64.1
2012 56.4 64.9
2011 56 62.7
2010 55.5 59.1
2009 53.4 54.2
2008 53.2 54.2
2007 53.2 52.4
2006 51.9 52.8
2005 52.9 51.7
2004 52.1 53.3
2003 55.8 47.8
2002 54.8 50.4
2001 52.5 45.4
2000 55.2 42.3
1999 61.5 39.8
1998 63.4 39.1
1997 62 38.3
1996 61 -
1995 54.9 -

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 56.5 for Rwanda, ranking 121/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Rwanda
Services, % of GDP
43.8%
2024
47.6%
2024
Industry, % of GDP
39.3%
2024
21%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
24.6%
2024
GNI, Atlas method
$1.39T
2024
$14.8B
2024
GNI per capita, PPP
$16,010
2024
$3,620
2024
Total reserves including gold
$156B
2024
$2.41B
2024
Total reserves ranking
20/177
2024
123/177
2024
Net foreign direct investment
-$15.9B
2024
-$560M
2024
Net inflows of foreign direct investment
$24.2B
2024
$573M
2024
Net outflows of foreign direct investment
$8.39B
2024
$13.2M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
3.09%
2024
Poverty at national poverty lines
9%
2024
27.4%
2023
Gross capital formation, % of GDP
31.4%
2024
25.9%
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/rwanda | 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 (2020–2024, 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.