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Economy of Indonesia vs Tonga compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $591M for Tonga, ranking 16/197 and 191/197 by economy size, respectively.

Indonesia has $561B in government debt (41% of GDP), compared to $260M (51.7% of GDP) in Tonga.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Indonesia
GDP, current $

GDP, constant 2015 $
Tonga
GDP, current $

GDP, constant 2015 $
Year GDP
Indonesia Tonga
Current $ Constant $ Current $ Constant $
1960 - $52,777,607,845 - -
1961 - $55,807,383,385 - -
1962 - $56,835,342,943 - -
1963 - $55,563,919,279 - -
1964 - $57,525,157,910 - -
1965 - $58,147,343,958 - -
1966 - $59,770,437,998 - -
1967 $5,667,756,628 $60,595,510,801 - -
1968 $7,076,465,300 $67,209,619,011 - -
1969 $8,337,423,313 $71,794,859,672 - -
1970 $9,150,684,932 $77,218,698,920 - -
1971 $9,333,536,370 $82,642,538,168 - -
1972 $10,997,590,361 $88,458,625,142 - -
1973 $16,273,253,012 $95,627,290,483 - -
1974 $25,802,409,639 $102,928,121,319 - -
1975 $30,463,855,422 $108,051,163,594 $32,506,742 -
1976 $37,269,156,627 $115,492,177,179 $30,036,417 -
1977 $45,808,915,663 $125,610,822,866 $34,139,388 -
1978 $51,455,719,076 $134,110,994,998 $41,567,472 -
1979 $51,400,186,343 $143,933,699,326 $44,667,002 -
1980 $72,482,337,397 $158,154,460,399 $53,260,077 -
1981 $85,518,233,419 $170,691,612,499 $62,242,013 $253,486,812
1982 $90,158,449,295 $174,526,106,274 $62,068,161 $265,505,295
1983 $81,052,283,384 $181,843,928,959 $60,863,964 $270,768,679
1984 $84,853,700,028 $194,528,502,793 $64,248,355 $275,475,700
1985 $85,289,488,375 $199,318,073,805 $60,058,663 $293,542,673
1986 $79,954,072,545 $211,028,100,540 $68,195,856 $299,761,847
1987 $75,929,617,558 $221,423,191,493 $81,667,133 $308,711,650
1988 $84,300,174,486 $234,222,555,729 $106,657,267 $302,902,092
1989 $94,451,427,877 $251,687,564,196 $106,344,855 $304,083,128
1990 $106,140,727,334 $269,915,108,913 $113,563,822 $297,867,390
1991 $116,621,996,217 $288,571,594,912 $132,201,141 $316,975,445
1992 $128,026,966,580 $307,321,553,097 $137,066,291 $317,774,139
1993 $158,006,700,302 $327,286,415,429 $138,489,884 $329,652,721
1994 $176,892,143,932 $351,963,716,551 $195,990,986 $345,978,842
1995 $202,132,028,723 $380,895,160,094 $208,871,666 $367,526,959
1996 $227,369,679,375 $410,674,256,276 $222,100,576 $367,868,458
1997 $215,748,998,610 $429,975,448,805 $214,991,452 $365,659,269
1998 $95,445,547,873 $373,533,751,956 $191,504,893 $374,042,287
1999 $140,001,351,215 $376,488,874,893 $199,208,718 $382,654,471
2000 $165,021,012,078 $395,012,382,598 $204,848,488 $397,019,693
2001 $160,446,947,785 $409,404,526,220 $181,117,230 $402,945,137
2002 $195,660,611,165 $427,825,582,126 $182,764,281 $420,792,478
2003 $234,772,463,824 $448,277,224,149 $202,246,591 $421,010,472
2004 $256,836,875,295 $470,829,486,220 $230,678,011 $412,725,207
2005 $285,868,619,196 $497,631,790,442 $261,823,805 $410,010,917
2006 $364,570,515,618 $525,006,275,303 $292,232,703 $401,131,460
2007 $432,216,737,775 $558,318,040,162 $298,519,623 $391,246,346
2008 $510,228,634,992 $591,893,632,243 $344,438,844 $410,272,035
2009 $539,580,085,612 $619,291,626,017 $312,415,028 $389,228,452
2010 $755,094,157,622 $657,835,433,774 $366,887,375 $392,437,239
2011 $892,969,104,563 $698,422,460,479 $414,143,828 $418,745,044
2012 $917,869,913,333 $740,537,688,618 $471,122,971 $422,596,498
2013 $912,524,136,718 $781,691,320,691 $451,788,498 $424,261,201
2014 $890,814,755,534 $820,828,013,231 $440,997,738 $432,706,274
2015 $860,854,232,686 $860,854,232,686 $437,525,514 $437,525,514
2016 $931,877,364,038 $904,181,621,780 $420,828,262 $466,396,529
2017 $1,015,618,744,160 $950,021,694,164 $459,976,850 $481,332,022
2018 $1,042,271,532,989 $999,178,586,309 $493,530,783 $483,872,624
2019 $1,119,099,871,350 $1,049,330,233,997 $506,031,239 $482,492,577
2020 $1,059,054,842,698 $1,027,656,193,885 $506,571,468 $491,207,297
2021 $1,186,509,691,087 $1,065,709,127,397 $519,306,353 $486,614,871
2022 $1,319,101,183,380 $1,122,268,412,650 $556,514,555 $476,257,056
2023 $1,371,169,301,564 $1,178,932,006,500 $591,139,749 $489,545,312
2024 $1,396,300,098,191 $1,238,236,350,137 - -

Economic indicators

Indonesia Tonga
Gross domestic product
$1.4T
2024
$591M
2023
GDP rank
16/197
2024
191/197
2023
GDP growth
1.83%
2023-2024
6.22%
2022-2023
GDP per capita
$4,925
2024
$5,652
2023
GDP per capita rank
121/197
2024
115/197
2023
GDP per capita, PPP
$16,448
2024
$7,803
2023
Government debt
$561B
2024
$260M
2023
Debt-to-GDP ratio
41%
2026
51.7%
2026
Government debt per person
$1,979
2024
$2,484
2023
Government debt per person rank
120/185
2024
111/185
2023
Average annual personal income after taxes
$3,538
2026
$4,126
2026
Market capitalization of domestic companies
$758B
2023
n/a
Number of millionaires
178,605
2024
n/a
Number of billionaires
33
2025
n/a
Income share by richest 10%
28.8%
2024
22%
2021
Income share by poorest 10%
3.5%
2024
4%
2021
Government expenditure, % of GDP
16.7%
2026
48.7%
2026
Consumer prices inflation
2.18%
2023-2024
3.18%
2023-2024
Central bank interest rate
4.75%
2025
n/a
Unemployment rate
3.31%
2023
1.65%
2023
Population
287909726
103290

GDP per capita in Indonesia vs Tonga

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $5,652 in Tonga, ranking 115/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Tonga ranks 144th at $7,803.

Indonesia
GDP per capita

GDP per capita, PPP
Tonga
GDP per capita

GDP per capita, PPP
Year Current $
Indonesia Tonga
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1967 $53.2 - - -
1968 $64.7 - - -
1969 $74.1 - - -
1970 $79.1 - - -
1971 $78.5 - - -
1972 $90.1 - - -
1973 $129.9 - - -
1974 $200.7 - - -
1975 $231.1 - $349 -
1976 $275.7 - $315 -
1977 $331 - $353 -
1978 $362 - $428 -
1979 $353 - $458 -
1980 $487 - $545 -
1981 $561 - $636 -
1982 $578 - $633 -
1983 $508 - $621 -
1984 $520 - $656 -
1985 $511 - $613 -
1986 $470 - $696 -
1987 $438 - $830 -
1988 $477 - $1,078 -
1989 $524 - $1,070 -
1990 $578 $3,044 $1,139 $2,416
1991 $624 $3,305 $1,323 $2,652
1992 $674 $3,538 $1,370 $2,716
1993 $817 $3,793 $1,383 $2,882
1994 $900 $4,096 $1,957 $3,088
1995 $1,011 $4,451 $2,084 $3,347
1996 $1,119 $4,807 $2,215 $3,410
1997 $1,045 $5,037 $2,136 $3,434
1998 $455 $4,356 $1,889 $3,527
1999 $657 $4,386 $1,952 $3,636
2000 $764 $4,639 $1,995 $3,834
2001 $732 $4,849 $1,754 $3,955
2002 $881 $5,076 $1,759 $4,171
2003 $1,043 $5,353 $1,936 $4,231
2004 $1,127 $5,700 $2,195 $4,235
2005 $1,238 $6,134 $2,478 $4,315
2006 $1,558 $6,583 $2,750 $4,327
2007 $1,823 $7,096 $2,797 $4,316
2008 $2,125 $7,569 $3,218 $4,600
2009 $2,218 $7,868 $2,914 $4,384
2010 $3,066 $8,353 $3,416 $4,465
2011 $3,579 $8,937 $3,850 $4,855
2012 $3,632 $9,530 $4,384 $4,996
2013 $3,567 $9,866 $4,219 $5,120
2014 $3,441 $10,065 $4,137 $5,336
2015 $3,288 $10,028 $4,124 $5,472
2016 $3,521 $10,263 $3,988 $5,920
2017 $3,799 $10,688 $4,366 $6,229
2018 $3,861 $11,372 $4,675 $6,393
2019 $4,107 $11,986 $4,789 $6,473
2020 $3,854 $11,729 $4,792 $6,676
2021 $4,287 $12,757 $4,923 $6,929
2022 $4,731 $14,285 $5,298 $7,296
2023 $4,876 $15,416 $5,652 $7,803
2024 $4,925 $16,448 - -

Spending and national debt comparison

In 2024, Indonesia's government spending was $236B, accounting for 16.7% of its GDP, while Tonga's spent $285M, or 48.7% of GDP.

Debt-to-GDP ratio is 41% in Indonesia and 51.7% in Tonga, ranking 131/185 and 104/185, respectively.

Indonesia
Government spending

Government debt
Tonga
Government spending

Government debt
Year % of GDP
Indonesia Tonga
Government spending Government debt Government spending Government debt
1960 14.4% - - -
1961 15.1% - - -
1962 7.89% - - -
1963 10.3% - - -
1964 9.55% - - -
1965 10.7% - - -
1966 9.18% - - -
1967 10.4% - - -
1968 8.82% - - -
1969 12.8% - - -
1970 13.8% 46.7% - -
1971 14.5% 50.5% - -
1972 15.7% 51.2% - -
1973 16.3% 43.1% - -
1974 17.3% 34.4% - -
1975 20.5% 36.7% - -
1976 21.8% 38.1% - -
1977 19.5% 27.7% - -
1978 20.1% 30.3% - -
1979 20.9% 22% - -
1980 22.1% 17.3% - -
1981 24.4% 16.4% - -
1982 18.8% 18.6% - -
1983 18.2% 23.1% - -
1984 16.1% 23.5% - -
1985 18.5% 28% - -
1986 20.9% 38.3% - -
1987 18% 49.7% - -
1988 17.3% 45.6% - -
1989 16.5% 42.5% - -
1990 15.8% 40.8% - -
1991 15% 39.2% - -
1992 16.8% 42.6% - -
1993 14.1% 40.4% - -
1994 13.5% 37% - -
1995 11.9% 32% - -
1996 11.5% 27.5% - -
1997 15.2% 26.4% - -
1998 15.1% 72.5% - -
1999 15.1% 95.9% 18.8% 38.4%
2000 15.3% 87.4% 20% 43.6%
2001 19.5% 73.7% 19.1% 53.4%
2002 16.9% 62.3% 21.3% 60.7%
2003 18.2% 55.6% 20% 56.2%
2004 17.8% 51.3% 19.3% 52.2%
2005 17.4% 42.6% 19.8% 43.3%
2006 18.4% 35.8% 25.6% 39.6%
2007 18.7% 38.1% 23.2% 37.8%
2008 19.4% 30.3% 24% 34%
2009 17% 26.5% 23.9% 39.7%
2010 16.9% 26.4% 28.4% 44.7%
2011 17.7% 23.1% 32.6% 51.9%
2012 18.8% 23% 32% 60%
2013 18.8% 24.9% 34.3% 48.9%
2014 18.4% 24.6% 31.5% 47.4%
2015 17.6% 27% 37.4% 51.1%
2016 16.9% 28% 37.2% 49.4%
2017 16.4% 29.4% 39.7% 44.7%
2018 16.6% 30.4% 39.6% 45.8%
2019 16.4% 30.6% 39.9% 42.8%
2020 18.4% 39.7% 37.9% 42.6%
2021 18.1% 41.1% 44.6% 43%
2022 17.3% 40.1% 44.4% 43.8%
2023 17% 39.6% 48.2% 43.9%
2024 16.9% 40.2% 49.6% 38.2%
2025 16.7% 41% 49.7% 44.1%
2026 16.7% 41% 48.7% 51.7%

Government deficit by year

In 2023, Indonesia's government deficit, the difference between spending and revenue, was -$26.1B, equivalent to -1.91% of GDP. This compares to Tonga's surplus of $36.3M, or 6.14% of GDP.

Over the past 25 years, Indonesia recorded a fiscal deficit in 22 of those years, while Tonga ran a deficit in 7 years. On average, Indonesia posted an annual deficit equal to -1.66% of GDP, compared to surplus of +1.95% of GDP for Tonga.

Deficit/surplus
Indonesia

Tonga
Year Deficit/surplus, % of GDP
Indonesia Tonga
1951 1.52% -
1952 -3.66% -
1953 -2.33% -
1954 -3.16% -
1955 -1.6% -
1956 -1.38% -
1957 -2.92% -
1958 -6.67% -
1959 -4.06% -
1960 -1.65% -
1961 -4.57% -
1962 -3.1% -
1963 -5.24% -
1964 -5.58% -
1965 -6.62% -
1966 -5.06% -
1967 -0.35% -
1968 0% -
1969 -2.8% -
1970 -3.02% -
1971 -2.51% -
1972 -1.82% -
1973 -1.33% -
1974 -0.35% -
1975 -2.33% -
1976 -2.63% -
1977 -0.38% -
1978 -2.03% -
1979 -0.67% -
1980 -0.82% -
1981 -0.69% -
1982 -1.11% -
1983 -1% -
1984 1.83% -
1985 -0.45% -
1986 -2.94% -
1987 -0.9% -
1988 -2.68% -
1989 -1.72% -
1990 -0.55% -
1991 -0.87% -
1992 -2.95% -
1993 -0.59% -
1994 0.005% -
1995 0.64% -
1996 0.96% -
1997 -1.03% -
1998 -1.89% -
1999 -0.96% 1.55%
2000 -1.87% 1.35%
2001 -1.76% 2.23%
2002 -0.58% 2.59%
2003 -1.08% 2.37%
2004 -0.26% 4.23%
2005 0.46% 4.23%
2006 0.45% 1.34%
2007 -0.95% 5.39%
2008 0.05% 2.14%
2009 -1.64% 6.85%
2010 -1.24% -1.22%
2011 -0.7% -6.02%
2012 -1.59% -1.74%
2013 -1.96% -1.3%
2014 -1.8% 6.38%
2015 -2.72% -2.75%
2016 -2.56% 1.47%
2017 -2.26% 3.58%
2018 -1.69% 2.92%
2019 -2.09% 3.28%
2020 -6.07% 5.25%
2021 -4.4% -0.87%
2022 -2.31% -0.69%
2023 -1.91% 6.14%
2024 -2.29% 3.49%
2025 -2.59% -7.9%
2026 -2.57% -9.49%

Inflation comparison by year

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 5.19% in Tonga. In 2024, inflation was 2.18% in Indonesia and 3.18% in Tonga.

Inflation
Indonesia

Tonga
Year Inflation
Indonesia Tonga
1997 6.23% 2.12%
1998 58.5% 3.27%
1999 20.5% 4.46%
2000 3.69% 6.33%
2001 11.5% 8.29%
2002 11.9% 10.4%
2003 6.76% 11.6%
2004 6.06% 11%
2005 10.5% 8.67%
2006 13.1% 6.15%
2007 6.41% 5.84%
2008 10.2% 10.4%
2009 4.39% 1.43%
2010 5.13% 3.53%
2011 5.36% 6.27%
2012 4.28% 1.15%
2013 6.41% 0.78%
2014 6.39% 2.51%
2015 6.36% -1.05%
2016 3.53% 2.58%
2017 3.81% 7.52%
2018 3.2% 5.03%
2019 3.03% 1.18%
2020 1.92% -0.35%
2021 1.56% 5.64%
2022 4.21% 11%
2023 3.67% 6.35%
2024 2.18% 3.18%

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $3.52M
Metals $851K
Chemicals & pharma $839K
Machinery & equipment $481K
Animal & marine products $186K
Textiles & consumer goods $131K
Raw materials & minerals $100K
Wood & paper products $85K
Miscellaneous $11K
Weapons & explosives $10K
Tonga
Export category Export value
Machinery & equipment $43K

Balance of trade

Indonesia Tonga
Current account balance
-$8.72B
2024
-$43.5M
2024
Current account balance ranking
174/190
2024
83/190
2024
Current account balance, % of GDP
-0.62%
2024
-7.93%
2023
Goods imports
$223B
2024
$232M
2024
Goods exports
$263B
2024
$10.8M
2024
Service imports
$57.6B
2024
$161M
2024
Service exports
$39B
2024
$93.6M
2024
Imports of goods and services, % of GDP
20.4%
2024
64.9%
2023
Exports of goods and services, % of GDP
22.2%
2024
14.7%
2023

Economic freedom indices

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

Indonesia Tonga
Economic freedom 65.2 58.5
Economic freedom ranking 65/197 106/197
Property rights 39.8 67.9
Government integrity 40.1 45.8
Judicial effectiveness 45.3 65.7
Tax burden 81.8 84.9
Government spending 90.9 28.9
Fiscal health 84.9 96.3
Business freedom 73 59.5
Labor freedom 59.3 56.6
Monetary freedom 78 61
Trade freedom 79.4 75.4
Investment freedom 50 40
Financial freedom 60 20

Economic freedom by year comparison

The Economic Freedom Index for Indonesia is 65.2, ranking 65/197, compared to 58.5 for Tonga, ranking 106/197. The chart below displays a comparison of annual changes in economic freedom indexes.

Indonesia
Tonga
Year Economic freedom index
Indonesia Tonga
1995 54.9 -
1996 61 -
1997 62 -
1998 63.4 -
1999 61.5 -
2000 55.2 -
2001 52.5 -
2002 54.8 -
2003 55.8 -
2004 52.1 -
2005 52.9 -
2006 51.9 -
2007 53.2 -
2008 53.2 -
2009 53.4 54.1
2010 55.5 53.4
2011 56 55.8
2012 56.4 57
2013 56.9 56
2014 58.5 58.2
2015 58.1 59.3
2016 59.4 59.6
2017 61.9 63
2018 64.2 63.1
2019 65.8 57.7
2020 67.2 58.8
2021 66.9 57.5
2022 64.4 60.8
2023 63.5 60
2024 63.5 59.2
2025 65.2 58.5

More economic indicators

Indonesia Tonga
Services, % of GDP
43.8%
2024
50%
2023
Industry, % of GDP
39.3%
2024
14.9%
2023
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
19%
2023
GNI, Atlas method
$1.39T
2024
$619M
2023
GNI per capita, PPP
$16,010
2024
$8,400
2023
Total reserves including gold
$156B
2024
$377M
2024
Total reserves ranking
20/177
2024
163/177
2024
Net foreign direct investment
-$15.9B
2024
$13.3M
2024
Net inflows of foreign direct investment
$24.2B
2024
-$12.1M
2024
Net outflows of foreign direct investment
$8.39B
2024
$1.25M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
2.76%
2023
Poverty at national poverty lines
9%
2024
20.6%
2021
Gross capital formation, % of GDP
31.4%
2024
25.9%
2023

GDP per capita map

GDP per capita

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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.