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Economy of Indonesia vs Vanuatu compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $1.12B for Vanuatu, ranking 16/197 and 188/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

Indonesia vs Vanuatu GDP by year

Indonesia
Vanuatu
1x
Year GDP, current $
Indonesia Vanuatu
2024 $1,396,300,098,191 $1,117,972,034
2023 $1,371,169,301,564 $1,115,861,056
2022 $1,319,101,183,380 $1,055,031,361
2021 $1,186,509,691,087 $950,394,007
2020 $1,059,054,842,698 $909,421,044
2019 $1,119,099,871,350 $936,526,268
2018 $1,042,271,532,989 $914,727,908
2017 $1,015,618,744,160 $880,043,284
2016 $931,877,364,038 $804,323,577
2015 $860,854,232,686 $759,690,181
2014 $890,814,755,534 $773,717,011
2013 $912,524,136,718 $758,304,466
2012 $917,869,913,333 $747,839,698
2011 $892,969,104,563 $770,153,588
2010 $755,094,157,622 $670,712,980
2009 $539,580,085,612 $592,622,319
2008 $510,228,634,992 $590,748,429
2007 $432,216,737,775 $516,392,923
2006 $364,570,515,618 $439,358,587
2005 $285,868,619,196 $394,962,433
2004 $256,836,875,295 $364,996,869
2003 $234,772,463,824 $314,471,413
2002 $195,660,611,165 $262,596,536
2001 $160,446,947,785 $257,926,882
2000 $165,021,012,078 $272,014,628
1999 $140,001,351,215 $268,006,973
1998 $95,445,547,873 $262,293,411
1997 $215,748,998,610 $272,771,209
1996 $227,369,679,375 $261,370,044
1995 $202,132,028,723 $249,333,250
1994 $176,892,143,932 $233,701,301
1993 $158,006,700,302 $200,491,853
1992 $128,026,966,580 $209,088,825
1991 $116,621,996,217 $201,334,169
1990 $106,140,727,334 $168,879,207
1989 $94,451,427,877 $154,013,202
1988 $84,300,174,486 $158,351,368
1987 $75,929,617,558 $139,464,174
1986 $79,954,072,545 $126,498,935
1985 $85,289,488,375 $131,856,421
1984 $84,853,700,028 $144,482,515
1983 $81,052,283,384 $117,389,554
1982 $90,158,449,295 $114,501,913
1981 $85,518,233,419 $113,781,796
1980 $72,482,337,397 $121,185,498
1979 $51,400,186,343 $119,258,835
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/vanuatu | CC BY

GDP per capita in Indonesia vs Vanuatu by year

Indonesia
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $3,411 $3,606
2023 $4,876 $15,416 $3,483 $3,568
2022 $4,731 $14,285 $3,370 $3,453
2021 $4,287 $12,757 $3,107 $3,136
2020 $3,854 $11,729 $3,043 $3,118
2019 $4,107 $11,986 $3,207 $3,315
2018 $3,861 $11,372 $3,207 $3,233
2017 $3,799 $10,688 $3,160 $3,146
2016 $3,521 $10,263 $2,956 $3,030
2015 $3,288 $10,028 $2,855 $2,966
2014 $3,441 $10,065 $2,973 $2,890
2013 $3,567 $9,866 $2,980 $2,832
2012 $3,632 $9,530 $3,005 $2,834
2011 $3,579 $8,937 $3,163 $2,816
2010 $3,066 $8,353 $2,815 $2,733
2009 $2,218 $7,868 $2,546 $2,730
2008 $2,125 $7,569 $2,604 $2,701
2007 $1,823 $7,096 $2,334 $2,573
2006 $1,558 $6,583 $2,035 $2,496
2005 $1,238 $6,134 $1,874 $2,287
2004 $1,127 $5,700 $1,774 $2,157
2003 $1,043 $5,353 $1,567 $2,070
2002 $881 $5,076 $1,341 $1,995
2001 $732 $4,849 $1,350 $2,125
2000 $764 $4,639 $1,460 $2,206
1999 $657 $4,386 $1,472 $2,084
1998 $455 $4,356 $1,471 $2,091
1997 $1,045 $5,037 $1,562 $2,087
1996 $1,119 $4,807 $1,529 $1,998
1995 $1,011 $4,451 $1,492 $1,961
1994 $900 $4,096 $1,431 $1,946
1993 $817 $3,793 $1,257 $1,789
1992 $674 $3,538 $1,344 $1,777
1991 $624 $3,305 $1,326 $1,737
1990 $578 $3,044 $1,141 $1,670
1989 $524 - $1,067 -
1988 $477 - $1,125 -
1987 $438 - $1,017 -
1986 $470 - $946 -
1985 $511 - $1,012 -
1984 $520 - $1,137 -
1983 $508 - $947 -
1982 $578 - $946 -
1981 $561 - $962 -
1980 $487 - $1,048 -
1979 $353 - $1,055 -
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/vanuatu | CC BY

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Vanuatu ranks 170th at $3,606.

Economic indicators

Indonesia Vanuatu
Gross domestic product
$1.4T
2024
$1.12B
2024
GDP rank
16/197
2024
188/197
2024
GDP growth
5.03%
2023-2024
0.94%
2023-2024
GDP per capita
$4,925
2024
$3,411
2024
GDP per capita rank
121/197
2024
137/197
2024
GDP per capita, PPP
$16,448
2024
$3,606
2024
GDP per capita PPP rank
107/197
2024
170/197
2024
Government debt
$561B
2024
$507M
2024
Debt-to-GDP ratio
40.2%
2024
45.3%
2024
Government debt per person
$1,978
2024
$1,546
2024
Government debt per person rank
120/185
2024
131/185
2024
Average annual personal income after taxes
$3,371
2026
$3,164
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
24.7%
2019
Income share by poorest 10%
3.5%
2024
3%
2019
Government expenditure, % of GDP
16.8%
2024
41.1%
2024
Consumer prices inflation
2.18%
2023-2024
11.2%
2022-2023
Central bank interest rate
4.75%
2025
n/a
Unemployment rate
3.31%
2023
4.05%
2020
Population
288551776
344750

Spending and national debt comparison by year

Indonesia
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Indonesia Vanuatu
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 41.1% 45.3%
2023 16.6% 39.6% 41.6% 41.8%
2022 17.3% 40.1% 42% 42.8%
2021 18.1% 41.1% 44.4% 48.5%
2020 18.4% 39.7% 43.4% 48%
2019 16.4% 30.6% 39.8% 45.1%
2018 16.6% 30.4% 33.3% 45.3%
2017 16.4% 29.4% 37.1% 52.6%
2016 16.9% 28% 35.2% 42.5%
2015 17.6% 27% 42.4% 36.3%
2014 18.4% 24.6% 23.3% 20.2%
2013 18.8% 24.9% 22.9% 18.6%
2012 18.8% 23% 24.5% 19.3%
2011 17.7% 23.1% 25.1% 21.3%
2010 16.9% 26.4% 28.3% 20.2%
2009 17% 26.5% 27.6% 21.1%
2008 19.4% 30.3% 27.8% 21.2%
2007 18.7% 38.1% 22.5% 19.5%
2006 18.4% 35.8% 20.1% 22.2%
2005 17.4% 42.6% 18.3% 26.3%
2004 17.8% 51.3% 18.5% 30.4%
2003 18.2% 55.6% 18.8% 38.3%
2002 16.9% 62.3% 22.3% 38.8%
2001 19.5% 73.7% 22.3% 37%
2000 15.3% 87.4% 25.4% 36.1%
1999 15.1% 95.9% 23.9% 30.6%
1998 15.1% 72.5% 27.9% 28%
1997 15.2% 26.4% 22.2% 22.9%
1996 11.5% 27.5% 24.5% 23.1%
1995 11.9% 32% 28% 24.1%
1994 13.5% 37% 24.4% 21.6%
1993 14.1% 40.4% 26.2% 20.3%
1992 16.8% 42.6% 31.8% 21%
1991 15% 39.2% 33.2% 15.9%
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 (1991–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-02-20).

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

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 45.3% in Vanuatu, ranking 132/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Vanuatu
1x
Year Deficit/surplus, % of GDP
Indonesia Vanuatu
2024 -2.3% -2.34%
2023 -1.64% -0.95%
2022 -2.31% -6.5%
2021 -4.4% 2.38%
2020 -6.07% -1.95%
2019 -2.09% 2.81%
2018 -1.69% 6.26%
2017 -2.26% -1.2%
2016 -2.56% -0.72%
2015 -2.72% -8.66%
2014 -1.8% 1.44%
2013 -1.96% -0.25%
2012 -1.59% -1.7%
2011 -0.7% -2.19%
2010 -1.24% -2.63%
2009 -1.64% -0.85%
2008 0.05% -0.04%
2007 -0.95% 0.28%
2006 0.45% 0.49%
2005 0.46% 1.86%
2004 -0.26% 0.8%
2003 -1.08% -1.35%
2002 -0.58% -3.63%
2001 -1.76% -3.33%
2000 -1.87% -6.28%
1999 -0.96% -0.55%
1998 -1.89% -6.65%
1997 -1.03% -0.51%
1996 0.96% -1.78%
1995 0.64% -2.59%
1994 0.005% -1.49%
1993 -0.59% -3.67%
1992 -2.95% -2.32%
1991 -0.87% -2.81%
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/vanuatu | 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 Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 34 years, Indonesia recorded a fiscal deficit in 28 of those years, while Vanuatu ran a deficit in 26 years. On average, Indonesia posted an annual deficit equal to 1.45% of GDP, compared to deficit of 1.49% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Indonesia

Vanuatu
1x
Year Consumer prices inflation
Indonesia Vanuatu
2024 2.18% -
2023 3.67% 11.2%
2022 4.21% 6.68%
2021 1.56% 2.34%
2020 1.92% 5.33%
2019 3.03% 2.76%
2018 3.2% 2.33%
2017 3.81% 3.08%
2016 3.53% 0.84%
2015 6.36% 2.48%
2014 6.39% 0.8%
2013 6.41% 1.46%
2012 4.28% 1.35%
2011 5.36% 0.87%
2010 5.13% 2.76%
2009 4.39% 4.3%
2008 10.2% 4.84%
2007 6.41% 3.94%
2006 13.1% 2.04%
2005 10.5% 1.2%
2004 6.06% 1.42%
2003 6.76% 3.02%
2002 11.9% 1.96%
2001 11.5% 3.58%
2000 3.69% 2.54%
1999 20.5% 2%
1998 58.5% 3.28%
1997 6.23% 2.83%

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

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

Over the past 27 years, Indonesia has recorded an average annual inflation rate of 8.46%, compared with 3.01% in Vanuatu. In 2023, inflation was 2.18% in Indonesia and 11.2% in Vanuatu.

Top exports between countries

Indonesia
Export category Export value
Processed food, beverages & tobacco $3.56M
Machinery & equipment $3.54M
Metals $3.43M
Raw materials & minerals $1.72M
Chemicals & pharma $1.35M
Textiles & consumer goods $401K
Wood & paper products $213K
Miscellaneous $92K
Raw agricultural goods $81K
Animal & marine products $26K
Vanuatu
Export category Export value

Balance of trade

Indonesia Vanuatu
Current account balance
-$8.72B
2024
-$127M
2022
Current account balance ranking
174/190
2024
90/190
2022
Current account balance, % of GDP
-0.62%
2024
-12.1%
2022
Goods imports
$223B
2024
$350M
2022
Goods exports
$263B
2024
$73.6M
2022
Service imports
$57.6B
2024
$230M
2022
Service exports
$39B
2024
$78.5M
2022
Imports of goods and services, % of GDP
20.4%
2024
54.2%
2022
Exports of goods and services, % of GDP
22.2%
2024
9.43%
2022

Economic freedom indices

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

Indonesia Vanuatu
Economic freedom 65.1 61.1
Economic freedom ranking 67/197 92/197
Property rights 39.7 62.1
Government integrity 42 48.3
Judicial effectiveness 43.1 67.9
Tax burden 81.5 96.9
Government spending 91.4 48.1
Fiscal health 89.8 78.8
Business freedom 69.2 50.3
Labor freedom 56.8 41
Monetary freedom 79.4 72.1
Trade freedom 78.6 62
Investment freedom 50 65
Financial freedom 60 40

Economic freedom comparison by year

Indonesia
Vanuatu
1x
Year Economic freedom index
Indonesia Vanuatu
2026 65.1 61.1
2025 65.2 61.8
2024 63.5 62.2
2023 63.5 62.1
2022 64.4 62.9
2021 66.9 60.5
2020 67.2 60.7
2019 65.8 56.4
2018 64.2 69.5
2017 61.9 67.4
2016 59.4 60.8
2015 58.1 61.1
2014 58.5 59.5
2013 56.9 56.6
2012 56.4 56.6
2011 56 56.7
2010 55.5 56.4
2009 53.4 58.4
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/vanuatu | CC BY

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Vanuatu
Services, % of GDP
43.8%
2024
59.1%
2022
Industry, % of GDP
39.3%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
24.3%
2022
GNI, Atlas method
$1.39T
2024
$1.28B
2024
GNI per capita, PPP
$16,010
2024
$4,140
2024
Total reserves including gold
$156B
2024
$615M
2024
Total reserves ranking
20/177
2024
152/177
2024
Net foreign direct investment
-$15.9B
2024
-$9.21M
2022
Net inflows of foreign direct investment
$24.2B
2024
$28.9M
2024
Net outflows of foreign direct investment
$8.39B
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
2.04%
2024
Poverty at national poverty lines
9%
2024
15.9%
2020
Gross capital formation, % of GDP
31.4%
2024
38.3%
2022

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/vanuatu | 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 (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.