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Economy of Indonesia vs Turkmenistan compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $51.4B for Turkmenistan, ranking 16/197 and 92/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $2.11B (4.11% of GDP) in Turkmenistan.

Indonesia vs Turkmenistan GDP by year

Indonesia
Turkmenistan
1x
Year GDP, current $
Indonesia Turkmenistan
2024 $1,396,300,098,191 $51,387,209,872
2023 $1,371,169,301,564 $45,894,538,666
2022 $1,319,101,183,380 $42,208,726,138
2021 $1,186,509,691,087 $40,589,905,812
2020 $1,059,054,842,698 $41,509,903,182
2019 $1,119,099,871,350 $40,810,067,975
2018 $1,042,271,532,989 $40,765,428,571
2017 $1,015,618,744,160 $37,926,285,714
2016 $931,877,364,038 $36,169,428,571
2015 $860,854,232,686 $35,799,714,286
2014 $890,814,755,534 $43,524,210,526
2013 $912,524,136,718 $39,197,543,860
2012 $917,869,913,333 $35,164,210,526
2011 $892,969,104,563 $29,233,333,333
2010 $755,094,157,622 $22,583,157,895
2009 $539,580,085,612 $20,214,385,965
2008 $510,228,634,992 $19,271,523,179
2007 $432,216,737,775 $12,664,165,103
2006 $364,570,515,618 $10,276,674,365
2005 $285,868,619,196 $8,103,901,996
2004 $256,836,875,295 $6,838,351,088
2003 $234,772,463,824 $5,977,440,583
2002 $195,660,611,165 $4,462,029,109
2001 $160,446,947,785 $3,534,772,732
2000 $165,021,012,078 $2,904,663,311
1999 $140,001,351,215 $2,450,564,100
1998 $95,445,547,873 $2,605,689,134
1997 $215,748,998,610 $2,450,350,625
1996 $227,369,679,375 $2,378,759,975
1995 $202,132,028,723 $2,482,228,440
1994 $176,892,143,932 $2,561,118,608
1993 $158,006,700,302 $3,179,225,949
1992 $128,026,966,580 $3,200,539,816
1991 $116,621,996,217 $3,208,098,919
1990 $106,140,727,334 $3,189,539,641
1989 $94,451,427,877 $3,006,988,217
1988 $84,300,174,486 $3,010,982,414
1987 $75,929,617,558 $2,331,358,820
1986 $79,954,072,545 -
1985 $85,289,488,375 -
1984 $84,853,700,028 -
1983 $81,052,283,384 -
1982 $90,158,449,295 -
1981 $85,518,233,419 -
1980 $72,482,337,397 -
1979 $51,400,186,343 -
1978 $51,455,719,076 -
1977 $45,808,915,663 -
1976 $37,269,156,627 -
1975 $30,463,855,422 -
1974 $25,802,409,639 -
1973 $16,273,253,012 -
1972 $10,997,590,361 -
1971 $9,333,536,370 -
1970 $9,150,684,932 -
1969 $8,337,423,313 -
1968 $7,076,465,300 -
1967 $5,667,756,628 -

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

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

GDP per capita in Indonesia vs Turkmenistan by year

Indonesia
GDP per capita

GDP per capita, PPP
Turkmenistan
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Turkmenistan
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $6,857 $21,213
2023 $4,876 $15,416 $6,232 $19,829
2022 $4,731 $14,285 $5,838 $18,340
2021 $4,287 $12,757 $5,723 $16,434
2020 $3,854 $11,729 $5,973 $15,091
2019 $4,107 $11,986 $5,998 $15,478
2018 $3,861 $11,372 $6,125 $14,368
2017 $3,799 $10,688 $5,828 $13,278
2016 $3,521 $10,263 $5,687 $12,919
2015 $3,288 $10,028 $5,759 $12,715
2014 $3,441 $10,065 $7,164 $12,477
2013 $3,567 $9,866 $6,600 $11,723
2012 $3,632 $9,530 $6,054 $11,035
2011 $3,579 $8,937 $5,144 $10,283
2010 $3,066 $8,353 $4,059 $8,972
2009 $2,218 $7,868 $3,708 $8,285
2008 $2,125 $7,569 $3,606 $7,916
2007 $1,823 $7,096 $2,415 $6,901
2006 $1,558 $6,583 $1,997 $6,164
2005 $1,238 $6,134 $1,604 $5,489
2004 $1,127 $5,700 $1,379 $4,798
2003 $1,043 $5,353 $1,229 $4,536
2002 $881 $5,076 $936 $4,393
2001 $732 $4,849 $756 $4,401
2000 $764 $4,639 $634 $4,209
1999 $657 $4,386 $546 $3,981
1998 $455 $4,356 $591 $3,432
1997 $1,045 $5,037 $565 $3,222
1996 $1,119 $4,807 $558 $3,636
1995 $1,011 $4,451 $592 $3,405
1994 $900 $4,096 $622 $3,659
1993 $817 $3,793 $788 $4,422
1992 $674 $3,538 $811 $4,351
1991 $624 $3,305 $832 $5,117
1990 $578 $3,044 $848 $5,321
1989 $524 - $821 -
1988 $477 - $846 -
1987 $438 - $675 -
1986 $470 - - -
1985 $511 - - -
1984 $520 - - -
1983 $508 - - -
1982 $578 - - -
1981 $561 - - -
1980 $487 - - -
1979 $353 - - -
1978 $362 - - -
1977 $331 - - -
1976 $275.7 - - -
1975 $231.1 - - -
1974 $200.7 - - -
1973 $129.9 - - -
1972 $90.1 - - -
1971 $78.5 - - -
1970 $79.1 - - -
1969 $74.1 - - -
1968 $64.7 - - -
1967 $53.2 - - -

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

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

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $6,857 in Turkmenistan, ranking 104/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Turkmenistan ranks 94th at $21,213.

Economic indicators

Indonesia Turkmenistan
Gross domestic product
$1.4T
2024
$51.4B
2024
GDP rank
16/197
2024
92/197
2024
GDP growth
5.03%
2023-2024
6.3%
2023-2024
GDP per capita
$4,925
2024
$6,857
2024
GDP per capita rank
121/197
2024
104/197
2024
GDP per capita, PPP
$16,448
2024
$21,213
2024
GDP per capita PPP rank
107/197
2024
94/197
2024
Government debt
$561B
2024
$2.11B
2024
Debt-to-GDP ratio
40.2%
2024
4.11%
2024
Government debt per person
$1,978
2024
$282
2024
Government debt per person rank
120/185
2024
179/185
2024
Average annual personal income after taxes
$3,371
2026
$7,520
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
31.5%
1998
Income share by poorest 10%
3.5%
2024
2.4%
1998
Government expenditure, % of GDP
16.8%
2024
14.5%
2024
Consumer prices inflation
2.18%
2023-2024
4.6%
2023-2024
Central bank interest rate
4.75%
2025
n/a
Unemployment rate
3.31%
2023
4%
2010
Population
288551776
7776557

Spending and national debt comparison by year

Indonesia
Spending

Debt
Turkmenistan
Spending

Debt
1x
Year % of GDP
Indonesia Turkmenistan
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 14.5% 4.11%
2023 16.6% 39.6% 13.7% 5.46%
2022 17.3% 40.1% 13% 7.14%
2021 18.1% 41.1% 13.4% 12.3%
2020 18.4% 39.7% 13.5% 15.4%
2019 16.4% 30.6% 13.6% 17.7%
2018 16.6% 30.4% 13.7% 22.5%
2017 16.4% 29.4% 17.8% 24.7%
2016 16.9% 28% 14.1% 21.1%
2015 17.6% 27% 17.3% 19%
2014 18.4% 24.6% 17% 16%
2013 18.8% 24.9% 16.9% 20.4%
2012 18.8% 23% 14.7% 17.9%
2011 17.7% 23.1% 15.4% 14.8%
2010 16.9% 26.4% 14.6% 7.04%
2009 17% 26.5% 14.4% 3.09%
2008 19.4% 30.3% 11.7% 3.56%
2007 18.7% 38.1% 14.4% 3.06%
2006 18.4% 35.8% 16% 4.23%
2005 17.4% 42.6% 21.1% 6.82%
2004 17.8% 51.3% 20.3% 11.4%
2003 18.2% 55.6% 20.8% 16.9%
2002 16.9% 62.3% 19.4% 24.2%
2001 19.5% 73.7% 22.6% 34.1%
2000 15.3% 87.4% 25.9% 55.1%
1999 15.1% 95.9% 20.8% 66.7%
1998 15.1% 72.5% 26.1% 81.6%
1997 15.2% 26.4% 26.9% 64.2%
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 (1993–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Turkmenistan spent $7.46B, or 14.5% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 4.11% in Turkmenistan, ranking 132/185 and 183/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Turkmenistan
1x
Year Deficit/surplus, % of GDP
Indonesia Turkmenistan
2024 -2.3% -0.08%
2023 -1.64% 0.11%
2022 -2.31% 3.38%
2021 -4.4% 0.57%
2020 -6.07% -0.16%
2019 -2.09% -0.4%
2018 -1.69% -0.22%
2017 -2.26% -2.84%
2016 -2.56% -2.38%
2015 -2.72% -0.7%
2014 -1.8% 0.89%
2013 -1.96% 1.53%
2012 -1.59% 7.53%
2011 -0.7% 3.84%
2010 -1.24% 2.13%
2009 -1.64% 7.53%
2008 0.05% 10.7%
2007 -0.95% 4.19%
2006 0.45% 5.64%
2005 0.46% 0.86%
2004 -0.26% 1.47%
2003 -1.08% 3.99%
2002 -0.58% 0.19%
2001 -1.76% 0.77%
2000 -1.87% -0.55%
1999 -0.96% 2.48%
1998 -1.89% 1.15%
1997 -1.03% -0.2%
1996 0.96% -
1995 0.64% -
1994 0.005% -
1993 -0.59% -
1992 -2.95% -
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/turkmenistan | 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 Turkmenistan's deficit of $42.9M, or 0.08% of GDP.

Over the past 28 years, Indonesia recorded a fiscal deficit in 25 of those years, while Turkmenistan ran a deficit in 9 years. On average, Indonesia posted an annual deficit equal to 1.66% of GDP, compared to surplus of 1.84% of GDP for Turkmenistan.

Inflation comparison by year

Inflation
Indonesia

Turkmenistan
1x
Year Consumer prices inflation
Indonesia Turkmenistan
2024 2.18% 4.6%
2023 3.67% -1.6%
2022 4.21% 11.2%
2021 1.56% 19.5%
2020 1.92% 6.1%
2019 3.03% 5.1%
2018 3.2% 13.3%
2017 3.81% 8%
2016 3.53% 3.6%
2015 6.36% 7.4%
2014 6.39% 6%
2013 6.41% 6.8%
2012 4.28% 5.3%
2011 5.36% 5.3%
2010 5.13% 4.4%
2009 4.39% -2.7%
2008 10.2% 14.5%
2007 6.41% 6.3%
2006 13.1% 8.2%
2005 10.5% 10.7%
2004 6.06% 5.9%
2003 6.76% 5.6%
2002 11.9% 8.8%
2001 11.5% 11.6%
2000 3.69% 8%
1999 20.5% 23.5%
1998 58.5% 16.8%
1997 6.23% 83.7%

Data sources: International Monetary Fund (IMF) | World Economic Outlook (1997–2024, retrieved 2026-02-20); World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

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

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 10.9% in Turkmenistan. In 2024, inflation was 2.18% in Indonesia and 4.6% in Turkmenistan.

Top exports between countries

Indonesia
Export category Export value
Chemicals & pharma $2.9M
Processed food, beverages & tobacco $1.41M
Textiles & consumer goods $84K
Machinery & equipment $23K
Wood & paper products $12K
Miscellaneous $10K
Raw agricultural goods $8K
Raw materials & minerals $3K
Metals $1K
Turkmenistan
Export category Export value

Balance of trade

Indonesia Turkmenistan
Current account balance
-$8.72B
2024
n/a
Current account balance ranking
174/190
2024
n/a
Current account balance, % of GDP
-0.62%
2024
n/a
Goods imports
$223B
2024
n/a
Goods exports
$263B
2024
n/a
Service imports
$57.6B
2024
n/a
Service exports
$39B
2024
n/a
Imports of goods and services, % of GDP
20.4%
2024
11.2%
2024
Exports of goods and services, % of GDP
22.2%
2024
17.6%
2024

Economic freedom indices

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

Indonesia Turkmenistan
Economic freedom 65.1 47
Economic freedom ranking 67/197 177/197
Property rights 39.7 17.4
Government integrity 42 8.4
Judicial effectiveness 43.1 12.3
Tax burden 81.5 94.2
Government spending 91.4 94.3
Fiscal health 89.8 99.9
Business freedom 69.2 37.5
Labor freedom 56.8 29.3
Monetary freedom 79.4 76.7
Trade freedom 78.6 74.2
Investment freedom 50 10
Financial freedom 60 10

Economic freedom comparison by year

Indonesia
Turkmenistan
1x
Year Economic freedom index
Indonesia Turkmenistan
2026 65.1 47
2025 65.2 47.1
2024 63.5 46.3
2023 63.5 46.5
2022 64.4 46.2
2021 66.9 47.4
2020 67.2 46.5
2019 65.8 48.4
2018 64.2 47.1
2017 61.9 47.4
2016 59.4 41.9
2015 58.1 41.4
2014 58.5 42.2
2013 56.9 42.6
2012 56.4 43.8
2011 56 43.6
2010 55.5 42.5
2009 53.4 44.2
2008 53.2 43.4
2007 53.2 43
2006 51.9 43.8
2005 52.9 47.6
2004 52.1 50.7
2003 55.8 51.3
2002 54.8 43.2
2001 52.5 41.8
2000 55.2 37.6
1999 61.5 36.1
1998 63.4 35
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/turkmenistan | CC BY

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 47 for Turkmenistan, ranking 177/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Turkmenistan
Services, % of GDP
43.8%
2024
50.4%
2024
Industry, % of GDP
39.3%
2024
37.5%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
12.2%
2024
GNI, Atlas method
$1.39T
2024
$48.8B
2024
GNI per capita, PPP
$16,010
2024
$21,020
2024
Total reserves including gold
$156B
2024
$1.51B
1999
Total reserves ranking
20/177
2024
135/177
1999
Net foreign direct investment
-$15.9B
2024
n/a
Net inflows of foreign direct investment
$24.2B
2024
$1.64B
2024
Net outflows of foreign direct investment
$8.39B
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
1.91%
2024
Poverty at national poverty lines
9%
2024
0.2%
2020
Gross capital formation, % of GDP
31.4%
2024
47.2%
2012

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/turkmenistan | 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 (2020–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)
  9. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

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.