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Economy of Indonesia vs Solomon Islands compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $1.58B for the Solomon Islands, ranking 16/197 and 182/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $350M (22.1% of GDP) in the Solomon Islands.

Indonesia vs Solomon Islands GDP by year

Indonesia
Solomon Islands
1x
Year GDP, current $
Indonesia Solomon Islands
2024 $1,396,300,098,191 $1,583,964,704
2023 $1,371,169,301,564 $1,506,124,566
2022 $1,319,101,183,380 $1,466,670,930
2021 $1,186,509,691,087 $1,558,312,104
2020 $1,059,054,842,698 $1,536,143,428
2019 $1,119,099,871,350 $1,619,150,564
2018 $1,042,271,532,989 $1,615,473,250
2017 $1,015,618,744,160 $1,469,790,526
2016 $931,877,364,038 $1,379,486,291
2015 $860,854,232,686 $1,307,908,814
2014 $890,814,755,534 $1,335,576,763
2013 $912,524,136,718 $1,285,905,958
2012 $917,869,913,333 $1,185,217,634
2011 $892,969,104,563 $1,063,898,227
2010 $755,094,157,622 $898,128,551
2009 $539,580,085,612 $805,557,289
2008 $510,228,634,992 $776,335,523
2007 $432,216,737,775 $695,291,218
2006 $364,570,515,618 $617,257,458
2005 $285,868,619,196 $552,881,357
2004 $256,836,875,295 $468,000,121
2003 $234,772,463,824 $417,666,639
2002 $195,660,611,165 $346,406,739
2001 $160,446,947,785 $409,508,553
2000 $165,021,012,078 $419,842,674
1999 $140,001,351,215 $488,024,514
1998 $95,445,547,873 $457,579,840
1997 $215,748,998,610 $526,554,006
1996 $227,369,679,375 $510,586,430
1995 $202,132,028,723 $469,443,202
1994 $176,892,143,932 $402,837,005
1993 $158,006,700,302 $300,746,361
1992 $128,026,966,580 $269,034,596
1991 $116,621,996,217 $227,540,473
1990 $106,140,727,334 $214,877,667
1989 $94,451,427,877 $172,882,411
1988 $84,300,174,486 $176,494,394
1987 $75,929,617,558 $155,128,542
1986 $79,954,072,545 $147,620,048
1985 $85,289,488,375 $165,524,943
1984 $84,853,700,028 $181,570,474
1983 $81,052,283,384 $181,220,399
1982 $90,158,449,295 $192,902,019
1981 $85,518,233,419 $193,750,541
1980 $72,482,337,397 $182,852,107
1979 $51,400,186,343 $151,276,496
1978 $51,455,719,076 $111,027,427
1977 $45,808,915,663 $93,145,283
1976 $37,269,156,627 $83,100,834
1975 $30,463,855,422 $74,620,320
1974 $25,802,409,639 $84,539,332
1973 $16,273,253,012 $55,272,109
1972 $10,997,590,361 $40,606,712
1971 $9,333,536,370 $50,056,883
1970 $9,150,684,932 -
1969 $8,337,423,313 $28,606,411
1968 $7,076,465,300 $28,084,253
1967 $5,667,756,628 $25,203,524

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

GeoRank.org/economy/indonesia/solomon-islands | CC BY

GDP per capita in Indonesia vs Solomon Islands by year

Indonesia
GDP per capita

GDP per capita, PPP
Solomon Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Solomon Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $1,934 $2,675
2023 $4,876 $15,416 $1,883 $2,597
2022 $4,731 $14,285 $1,878 $2,496
2021 $4,287 $12,757 $2,043 $2,450
2020 $3,854 $11,729 $2,063 $2,405
2019 $4,107 $11,986 $2,224 $2,512
2018 $3,861 $11,372 $2,278 $2,494
2017 $3,799 $10,688 $2,144 $2,454
2016 $3,521 $10,263 $2,083 $2,421
2015 $3,288 $10,028 $2,045 $2,354
2014 $3,441 $10,065 $2,165 $2,377
2013 $3,567 $9,866 $2,161 $2,394
2012 $3,632 $9,530 $2,066 $2,320
2011 $3,579 $8,937 $1,924 $2,306
2010 $3,066 $8,353 $1,685 $2,182
2009 $2,218 $7,868 $1,555 $2,021
2008 $2,125 $7,569 $1,526 $1,989
2007 $1,823 $7,096 $1,390 $1,869
2006 $1,558 $6,583 $1,256 $1,786
2005 $1,238 $6,134 $1,144 $1,693
2004 $1,127 $5,700 $986 $1,556
2003 $1,043 $5,353 $896 $1,433
2002 $881 $5,076 $757 $1,344
2001 $732 $4,849 $912 $1,387
2000 $764 $4,639 $953 $1,503
1999 $657 $4,386 $1,134 $1,754
1998 $455 $4,356 $1,092 $1,785
1997 $1,045 $5,037 $1,292 $1,793
1996 $1,119 $4,807 $1,289 $1,830
1995 $1,011 $4,451 $1,220 $1,820
1994 $900 $4,096 $1,078 $1,668
1993 $817 $3,793 $829 $1,556
1992 $674 $3,538 $764 $1,505
1991 $624 $3,305 $666 $1,346
1990 $578 $3,044 $648 $1,266
1989 $524 - $538 -
1988 $477 - $567 -
1987 $438 - $515 -
1986 $470 - $506 -
1985 $511 - $586 -
1984 $520 - $665 -
1983 $508 - $686 -
1982 $578 - $756 -
1981 $561 - $786 -
1980 $487 - $768 -
1979 $353 - $658 -
1978 $362 - $500 -
1977 $331 - $434 -
1976 $275.7 - $401 -
1975 $231.1 - $372 -
1974 $200.7 - $433 -
1973 $129.9 - $291.3 -
1972 $90.1 - $219.5 -
1971 $78.5 - $277.1 -
1970 $79.1 - - -
1969 $74.1 - $165.9 -
1968 $64.7 - $166.9 -
1967 $53.2 - $153.5 -

Data sources: World Bank | Economy & Growth (1967–2024, retrieved 2026-04-06).

GeoRank.org/economy/indonesia/solomon-islands | CC BY

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $1,934 in the Solomon Islands, ranking 157/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while the Solomon Islands ranks 183rd at $2,675.

Economic indicators

Indonesia Solomon Islands
Gross domestic product
$1.4T
2024
$1.58B
2024
GDP rank
16/197
2024
182/197
2024
GDP growth
5.03%
2023-2024
3%
2023-2024
GDP per capita
$4,925
2024
$1,934
2024
GDP per capita rank
121/197
2024
157/197
2024
GDP per capita, PPP
$16,448
2024
$2,675
2024
GDP per capita PPP rank
107/197
2024
183/197
2024
Government debt
$561B
2024
$350M
2024
Debt-to-GDP ratio
40.2%
2024
22.1%
2024
Government debt per person
$1,978
2024
$427
2024
Government debt per person rank
120/185
2024
169/185
2024
Average annual personal income after taxes
$3,371
2026
$1,776
2026
Market capitalization of domestic companies
$758B
2023
n/a
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
n/a
Income share by richest 10%
28.8%
2024
29.2%
2012
Income share by poorest 10%
3.5%
2024
2.8%
2012
Government expenditure, % of GDP
16.8%
2024
35.8%
2024
Consumer prices inflation
2.18%
2023-2024
4.32%
2023-2024
Central bank interest rate
4.75%
2025
n/a
Unemployment rate
3.31%
2023
0.69%
2013
Population
288551776
863951

Spending and national debt comparison by year

Indonesia
Spending

Debt
Solomon Islands
Spending

Debt
1x
Year % of GDP
Indonesia Solomon Islands
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 35.8% 22.1%
2023 16.6% 39.6% 40.1% 20.3%
2022 17.3% 40.1% 40.8% 15.5%
2021 18.1% 41.1% 37.8% 15.9%
2020 18.4% 39.7% 40.4% 12.8%
2019 16.4% 30.6% 35.6% 7.82%
2018 16.6% 30.4% 34.8% 7.95%
2017 16.4% 29.4% 40.4% 8.77%
2016 16.9% 28% 39.6% 7.54%
2015 17.6% 27% 41.5% 7.88%
2014 18.4% 24.6% 39.8% 10.1%
2013 18.8% 24.9% 41.8% 11.6%
2012 18.8% 23% 29.4% 13.3%
2011 17.7% 23.1% 27% 18.3%
2010 16.9% 26.4% 23.9% 22.9%
2009 17% 26.5% 24.8% 18.9%
2008 19.4% 30.3% 27% 28.9%
2007 18.7% 38.1% 23.7% 33%
2006 18.4% 35.8% 19.9% 42.3%
2005 17.4% 42.6% 17% 44.7%
2004 17.8% 51.3% 14.7% 58.2%
2003 18.2% 55.6% 14.9% 61.3%
2002 16.9% 62.3% 16.7% 65.7%
2001 19.5% 73.7% 18.1% 52.8%
2000 15.3% 87.4% 18.7% 44.3%
1999 15.1% 95.9% 18.7% 42%
1998 15.1% 72.5% 15.5% 39.5%
1997 15.2% 26.4% 19.3% 25.9%
1996 11.5% 27.5% 24.2% -
1995 11.9% 32% 24.7% -
1994 13.5% 37% 30.2% -
1993 14.1% 40.4% 33.2% -
1992 16.8% 42.6% 35.1% -
1991 15% 39.2% 39.4% -
1990 15.8% 40.8% 30% -
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/solomon-islands | CC BY

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while the Solomon Islands spent $567M, or 35.8% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 22.1% in the Solomon Islands, ranking 132/185 and 173/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Solomon Islands
1x
Year Deficit/surplus, % of GDP
Indonesia Solomon Islands
2024 -2.3% -3.08%
2023 -1.64% -3.81%
2022 -2.31% -2.51%
2021 -4.4% -1.86%
2020 -6.07% -2.44%
2019 -2.09% -1.52%
2018 -1.69% 1.49%
2017 -2.26% -2.27%
2016 -2.56% -3.56%
2015 -2.72% 0.81%
2014 -1.8% 2.13%
2013 -1.96% 3.57%
2012 -1.59% 4.63%
2011 -0.7% 6.22%
2010 -1.24% 6.02%
2009 -1.64% 2.35%
2008 0.05% 1.94%
2007 -0.95% 15.3%
2006 0.45% 13%
2005 0.46% 13.4%
2004 -0.26% 17%
2003 -1.08% 10.6%
2002 -0.58% -4.35%
2001 -1.76% -2.4%
2000 -1.87% -2.93%
1999 -0.96% -0.32%
1998 -1.89% 5.04%
1997 -1.03% 2.14%
1996 0.96% 3.73%
1995 0.64% 3.19%
1994 0.005% 4.33%
1993 -0.59% 2.45%
1992 -2.95% 4.13%
1991 -0.87% 0.14%
1990 -0.55% 0.58%
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/solomon-islands | 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 the Solomon Islands' deficit of $48.8M, or 3.08% of GDP.

Over the past 35 years, Indonesia recorded a fiscal deficit in 29 of those years, while the Solomon Islands ran a deficit in 12 years. On average, Indonesia posted an annual deficit equal to 1.42% of GDP, compared to surplus of 2.66% of GDP for the Solomon Islands.

Inflation comparison by year

Inflation
Indonesia

Solomon Islands
1x
Year Consumer prices inflation
Indonesia Solomon Islands
2024 2.18% 4.32%
2023 3.67% 5.89%
2022 4.21% 5.52%
2021 1.56% -0.12%
2020 1.92% 2.96%
2019 3.03% 1.63%
2018 3.2% 3.46%
2017 3.81% 0.49%
2016 3.53% 0.51%
2015 6.36% -0.57%
2014 6.39% 5.17%
2013 6.41% 5.39%
2012 4.28% 5.91%
2011 5.36% 7.34%
2010 5.13% 1.05%
2009 4.39% 7.09%
2008 10.2% 17.3%
2007 6.41% 7.67%
2006 13.1% 11.2%
2005 10.5% 7.33%
2004 6.06% 6.99%
2003 6.76% 8.27%
2002 11.9% 10.9%
2001 11.5% 6.93%
2000 3.69% 7.89%
1999 20.5% 8.02%
1998 58.5% 12.4%
1997 6.23% 8.08%

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

GeoRank.org/economy/indonesia/solomon-islands | CC BY

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 6.04% in the Solomon Islands. In 2024, inflation was 2.18% in Indonesia and 4.32% in the Solomon Islands.

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $14.9M
Machinery & equipment $3.27M
Metals $1.65M
Chemicals & pharma $1.32M
Animal & marine products $1.22M
Textiles & consumer goods $802K
Raw agricultural goods $712K
Wood & paper products $113K
Miscellaneous $51K
Raw materials & minerals $37K
Solomon Islands
Export category Export value
Processed food, beverages & tobacco $172K
Animal & marine products $15K

Balance of trade

Indonesia Solomon Islands
Current account balance
-$8.72B
2024
-$66.2M
2024
Current account balance ranking
174/190
2024
87/190
2024
Current account balance, % of GDP
-0.62%
2024
-4.18%
2024
Goods imports
$223B
2024
$609M
2024
Goods exports
$263B
2024
$510M
2024
Service imports
$57.6B
2024
$248M
2024
Service exports
$39B
2024
$133M
2024
Imports of goods and services, % of GDP
20.4%
2024
70.8%
2024
Exports of goods and services, % of GDP
22.2%
2024
40.6%
2024

Economic freedom indices

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

Indonesia Solomon Islands
Economic freedom 65.1 53.7
Economic freedom ranking 67/197 137/197
Property rights 39.7 55.8
Government integrity 42 42.7
Judicial effectiveness 43.1 59.1
Tax burden 81.5 71.3
Government spending 91.4 54.6
Fiscal health 89.8 83.3
Business freedom 69.2 52.3
Labor freedom 56.8 60.4
Monetary freedom 79.4 76.5
Trade freedom 78.6 43.6
Investment freedom 50 15
Financial freedom 60 30

Economic freedom comparison by year

Indonesia
Solomon Islands
1x
Year Economic freedom index
Indonesia Solomon Islands
2026 65.1 53.7
2025 65.2 56.3
2024 63.5 55
2023 63.5 56.9
2022 64.4 56.5
2021 66.9 56.5
2020 67.2 52.9
2019 65.8 54.6
2018 64.2 57.5
2017 61.9 55
2016 59.4 47
2015 58.1 47
2014 58.5 46.2
2013 56.9 45
2012 56.4 46.2
2011 56 45.9
2010 55.5 42.9
2009 53.4 46
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 2026-03-09).

GeoRank.org/economy/indonesia/solomon-islands | CC BY

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 53.7 for the Solomon Islands, ranking 137/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Solomon Islands
Services, % of GDP
43.8%
2024
46.9%
2024
Industry, % of GDP
39.3%
2024
23.4%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
29.7%
2024
GNI, Atlas method
$1.39T
2024
$1.57B
2024
GNI per capita, PPP
$16,010
2024
$2,680
2024
Total reserves including gold
$156B
2024
$688M
2023
Total reserves ranking
20/177
2024
149/177
2023
Net foreign direct investment
-$15.9B
2024
$19.9M
2024
Net inflows of foreign direct investment
$24.2B
2024
$33M
2024
Net outflows of foreign direct investment
$8.39B
2024
$52.9M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
1.64%
2024
Poverty at national poverty lines
9%
2024
12.7%
2012
Gross capital formation, % of GDP
31.4%
2024
19.5%
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/solomon-islands | CC BY

Compare countries by 7 more topics

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Data sources:

  1. World Bank | Economy & Growth (1967–2024, 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 (2018–2024, 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.