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Economy of Indonesia vs Ukraine compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $191B for Ukraine, ranking 16/197 and 57/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $171B (89.7% of GDP) in Ukraine.

Indonesia vs Ukraine GDP by year

Indonesia
Ukraine
1x
Year GDP, current $
Indonesia Ukraine
2024 $1,396,300,098,191 $190,741,262,415
2023 $1,371,169,301,564 $181,221,517,869
2022 $1,319,101,183,380 $161,989,520,721
2021 $1,186,509,691,087 $199,765,859,571
2020 $1,059,054,842,698 $156,617,722,013
2019 $1,119,099,871,350 $153,883,047,510
2018 $1,042,271,532,989 $130,891,088,294
2017 $1,015,618,744,160 $112,090,505,082
2016 $931,877,364,038 $93,355,869,404
2015 $860,854,232,686 $91,030,967,789
2014 $890,814,755,534 $133,503,871,862
2013 $912,524,136,718 $190,498,811,460
2012 $917,869,913,333 $182,591,753,828
2011 $892,969,104,563 $169,333,835,202
2010 $755,094,157,622 $141,209,170,427
2009 $539,580,085,612 $121,552,153,444
2008 $510,228,634,992 $188,110,390,660
2007 $432,216,737,775 $148,733,861,386
2006 $364,570,515,618 $111,884,752,475
2005 $285,868,619,196 $89,238,865,119
2004 $256,836,875,295 $67,220,154,164
2003 $234,772,463,824 $52,010,355,753
2002 $195,660,611,165 $43,956,163,612
2001 $160,446,947,785 $39,309,580,983
2000 $165,021,012,078 $32,375,083,935
1999 $140,001,351,215 $31,580,639,554
1998 $95,445,547,873 $41,882,523,345
1997 $215,748,998,610 $50,151,531,592
1996 $227,369,679,375 $44,558,831,005
1995 $202,132,028,723 $48,213,856,469
1994 $176,892,143,932 $52,549,580,265
1993 $158,006,700,302 $65,648,559,903
1992 $128,026,966,580 $73,945,908,384
1991 $116,621,996,217 $77,350,733,982
1990 $106,140,727,334 $81,393,558,423
1989 $94,451,427,877 $82,709,161,099
1988 $84,300,174,486 $74,703,517,903
1987 $75,929,617,558 $64,087,694,038
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/ukraine | CC BY

GDP per capita in Indonesia vs Ukraine by year

Indonesia
GDP per capita

GDP per capita, PPP
Ukraine
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Ukraine
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $5,038 $18,550
2023 $4,876 $15,416 $4,803 $17,665
2022 $4,731 $14,285 $3,946 $14,770
2021 $4,287 $12,757 $4,510 $17,846
2020 $3,854 $11,729 $3,505 $15,541
2019 $4,107 $11,986 $3,423 $14,217
2018 $3,861 $11,372 $2,895 $12,555
2017 $3,799 $10,688 $2,467 $11,536
2016 $3,521 $10,263 $2,047 $10,865
2015 $3,288 $10,028 $1,988 $9,922
2014 $3,441 $10,065 $2,904 $10,494
2013 $3,567 $9,866 $4,130 $10,904
2012 $3,632 $9,530 $3,951 $9,552
2011 $3,579 $8,937 $3,657 $9,127
2010 $3,066 $8,353 $3,040 $8,453
2009 $2,218 $7,868 $2,607 $7,995
2008 $2,125 $7,569 $4,018 $9,324
2007 $1,823 $7,096 $3,160 $8,900
2006 $1,558 $6,583 $2,366 $7,971
2005 $1,238 $6,134 $1,875 $7,142
2004 $1,127 $5,700 $1,401 $6,663
2003 $1,043 $5,353 $1,076 $5,764
2002 $881 $5,076 $903 $5,123
2001 $732 $4,849 $800 $4,747
2000 $764 $4,639 $653 $4,228
1999 $657 $4,386 $632 $3,871
1998 $455 $4,356 $831 $3,794
1997 $1,045 $5,037 $987 $3,794
1996 $1,119 $4,807 $870 $3,812
1995 $1,011 $4,451 $933 $4,124
1994 $900 $4,096 $1,009 $4,565
1993 $817 $3,793 $1,254 $5,766
1992 $674 $3,538 $1,413 $6,568
1991 $624 $3,305 $1,483 $7,148
1990 $578 $3,044 $1,564 $7,591
1989 $524 - $1,593 -
1988 $477 - $1,444 -
1987 $438 - $1,244 -
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/ukraine | CC BY

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $5,038 in Ukraine, ranking 120/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Ukraine ranks 101st at $18,550.

Economic indicators

Indonesia Ukraine
Gross domestic product
$1.4T
2024
$191B
2024
GDP rank
16/197
2024
57/197
2024
GDP growth
5.03%
2023-2024
2.91%
2023-2024
GDP per capita
$4,925
2024
$5,038
2024
GDP per capita rank
121/197
2024
120/197
2024
GDP per capita, PPP
$16,448
2024
$18,550
2024
GDP per capita PPP rank
107/197
2024
101/197
2024
Government debt
$561B
2024
$171B
2024
Debt-to-GDP ratio
40.2%
2024
89.7%
2024
Government debt per person
$1,978
2024
$4,520
2024
Government debt per person rank
120/185
2024
86/185
2024
Average annual personal income after taxes
$3,371
2026
$5,370
2026
Market capitalization of domestic companies
$758B
2023
$4.42B
2018
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
7
2025
Income share by richest 10%
28.8%
2024
21.7%
2020
Income share by poorest 10%
3.5%
2024
4.3%
2020
Government expenditure, % of GDP
16.8%
2024
71.3%
2024
Consumer prices inflation
2.18%
2023-2024
6.5%
2023-2024
Central bank interest rate
4.75%
2025
15.5%
2025
Unemployment rate
3.31%
2023
9.83%
2021
Population
288551776
40125599

Spending and national debt comparison by year

Indonesia
Spending

Debt
Ukraine
Spending

Debt
1x
Year % of GDP
Indonesia Ukraine
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 71.3% 89.7%
2023 16.6% 39.6% 73.4% 81.2%
2022 17.3% 40.1% 65.4% 77.7%
2021 18.1% 41.1% 40.5% 48.9%
2020 18.4% 39.7% 45.6% 60.5%
2019 16.4% 30.6% 41.5% 50.5%
2018 16.6% 30.4% 41.9% 60.4%
2017 16.4% 29.4% 41.7% 71.6%
2016 16.9% 28% 40.8% 79.5%
2015 17.6% 27% 43% 79.3%
2014 18.4% 24.6% 44.8% 70.3%
2013 18.8% 24.9% 48.1% 40.5%
2012 18.8% 23% 49% 37.5%
2011 17.7% 23.1% 45.7% 36.9%
2010 16.9% 26.4% 49.2% 40.6%
2009 17% 26.5% 48.6% 35.4%
2008 19.4% 30.3% 47.1% 20.4%
2007 18.7% 38.1% 43.7% 12.3%
2006 18.4% 35.8% 44.6% 14.8%
2005 17.4% 42.6% 44.2% 17.7%
2004 17.8% 51.3% 41.6% 24.8%
2003 18.2% 55.6% 38.9% 29.4%
2002 16.9% 62.3% 37.9% 33.6%
2001 19.5% 73.7% 36.7% 36.7%
2000 15.3% 87.4% 35.5% 43.8%
1999 15.1% 95.9% 25.8% 59%
1998 15.1% 72.5% 37.1% 46.5%
1997 15.2% 26.4% 40.8% 28.9%
1996 11.5% 27.5% 36.9% 24.4%
1995 11.9% 32% 41.3% 30.2%
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/ukraine | CC BY

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Ukraine spent $136B, or 71.3% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 89.7% in Ukraine, ranking 132/185 and 33/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Ukraine
1x
Year Deficit/surplus, % of GDP
Indonesia Ukraine
2024 -2.3% -17.2%
2023 -1.64% -19.3%
2022 -2.31% -15.6%
2021 -4.4% -3.97%
2020 -6.07% -5.92%
2019 -2.09% -2.08%
2018 -1.69% -2.12%
2017 -2.26% -2.36%
2016 -2.56% -2.46%
2015 -2.72% -1.16%
2014 -1.8% -4.46%
2013 -1.96% -4.78%
2012 -1.59% -4.31%
2011 -0.7% -2.76%
2010 -1.24% -5.77%
2009 -1.64% -6.27%
2008 0.05% -3.14%
2007 -0.95% -1.97%
2006 0.45% -1.36%
2005 0.46% -2.28%
2004 -0.26% -4.41%
2003 -1.08% -0.89%
2002 -0.58% -1.84%
2001 -1.76% -3.03%
2000 -1.87% -3.19%
1999 -0.96% 4.95%
1998 -1.89% -2.69%
1997 -1.03% -5.37%
1996 0.96% -3.09%
1995 0.64% -4.72%
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/ukraine | 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 Ukraine's deficit of $32.8B, or 17.2% of GDP.

Over the past 30 years, Indonesia recorded a fiscal deficit in 25 of those years, while Ukraine ran a deficit in 29 years. On average, Indonesia posted an annual deficit equal to 1.49% of GDP, compared to deficit of 4.45% of GDP for Ukraine.

Inflation comparison by year

Inflation
Indonesia

Ukraine
1x
Year Consumer prices inflation
Indonesia Ukraine
2024 2.18% 6.5%
2023 3.67% 12.9%
2022 4.21% 20.2%
2021 1.56% 9.4%
2020 1.92% 2.7%
2019 3.03% 7.9%
2018 3.2% 10.9%
2017 3.81% 14.4%
2016 3.53% 13.9%
2015 6.36% 48.7%
2014 6.39% 12.1%
2013 6.41% -0.3%
2012 4.28% 0.6%
2011 5.36% 8%
2010 5.13% 9.4%
2009 4.39% 15.9%
2008 10.2% 25.2%
2007 6.41% 12.8%
2006 13.1% 9.1%
2005 10.5% 13.5%
2004 6.06% 9%
2003 6.76% 5.2%
2002 11.9% 0.8%
2001 11.5% 12%
2000 3.69% 28.2%
1999 20.5% 22.7%
1998 58.5% 10.6%
1997 6.23% 15.9%

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/ukraine | CC BY

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 12.8% in Ukraine. In 2024, inflation was 2.18% in Indonesia and 6.5% in Ukraine.

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $15.9M
Raw materials & minerals $8.7M
Textiles & consumer goods $4.28M
Animal & marine products $2.13M
Raw agricultural goods $2.09M
Machinery & equipment $1.81M
Chemicals & pharma $527K
Wood & paper products $472K
Metals $241K
Precious metals & jewellery $188K
Ukraine
Export category Export value
Raw agricultural goods $507M
Processed food, beverages & tobacco $8.68M
Machinery & equipment $3.11M
Chemicals & pharma $2.11M
Textiles & consumer goods $1.02M
Animal & marine products $867K
Wood & paper products $527K
Raw materials & minerals $410K
Metals $308K
Miscellaneous $28K

Balance of trade

Indonesia Ukraine
Current account balance
-$8.72B
2024
-$15.1B
2024
Current account balance ranking
174/190
2024
179/190
2024
Current account balance, % of GDP
-0.62%
2024
-7.94%
2024
Goods imports
$223B
2024
$72.3B
2024
Goods exports
$263B
2024
$39.3B
2024
Service imports
$57.6B
2024
$22.9B
2024
Service exports
$39B
2024
$17.3B
2024
Imports of goods and services, % of GDP
20.4%
2024
48.3%
2024
Exports of goods and services, % of GDP
22.2%
2024
29.4%
2024

Economic freedom indices

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

Indonesia Ukraine
Economic freedom 65.1 54.1
Economic freedom ranking 67/197 135/197
Property rights 39.7 21.6
Government integrity 42 35
Judicial effectiveness 43.1 28.2
Tax burden 81.5 83.7
Government spending 91.4 0
Fiscal health 89.8 3.9
Business freedom 69.2 57.4
Labor freedom 56.8 46.9
Monetary freedom 79.4 65.7
Trade freedom 78.6 73
Investment freedom 50 35
Financial freedom 60 30

Economic freedom comparison by year

Indonesia
Ukraine
1x
Year Economic freedom index
Indonesia Ukraine
2026 65.1 -
2025 65.2 -
2024 63.5 -
2023 63.5 -
2022 64.4 54.1
2021 66.9 56.2
2020 67.2 54.9
2019 65.8 52.3
2018 64.2 51.9
2017 61.9 48.1
2016 59.4 46.8
2015 58.1 46.9
2014 58.5 49.3
2013 56.9 46.3
2012 56.4 46.1
2011 56 45.8
2010 55.5 46.4
2009 53.4 48.8
2008 53.2 51
2007 53.2 51.5
2006 51.9 54.4
2005 52.9 55.8
2004 52.1 53.7
2003 55.8 51.1
2002 54.8 48.2
2001 52.5 48.5
2000 55.2 47.8
1999 61.5 43.7
1998 63.4 40.4
1997 62 43.5
1996 61 40.6
1995 54.9 39.9

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 54.1 for Ukraine, ranking 135/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Ukraine
Services, % of GDP
43.8%
2024
60.6%
2024
Industry, % of GDP
39.3%
2024
19%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
7.11%
2024
GNI, Atlas method
$1.39T
2024
$184B
2024
GNI per capita, PPP
$16,010
2024
$18,560
2024
Total reserves including gold
$156B
2024
$43.8B
2024
Total reserves ranking
20/177
2024
46/177
2024
Net foreign direct investment
-$15.9B
2024
-$3.71B
2024
Net inflows of foreign direct investment
$24.2B
2024
$4.02B
2024
Net outflows of foreign direct investment
$8.39B
2024
$305M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
5.42%
2024
Poverty at national poverty lines
9%
2024
23.2%
2020
Gross capital formation, % of GDP
31.4%
2024
18.6%
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/ukraine | CC BY

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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 (2023–2024, 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.