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Economy of Indonesia vs Vietnam compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $476B for Vietnam, ranking 16/197 and 33/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $149B (31.3% of GDP) in Vietnam.

Indonesia vs Vietnam GDP by year

Indonesia
Vietnam
1x
Year GDP, current $
Indonesia Vietnam
2024 $1,396,300,098,191 $476,388,230,307
2023 $1,371,169,301,564 $433,857,681,378
2022 $1,319,101,183,380 $413,445,230,669
2021 $1,186,509,691,087 $366,474,752,771
2020 $1,059,054,842,698 $346,615,738,538
2019 $1,119,099,871,350 $334,365,270,497
2018 $1,042,271,532,989 $310,106,478,395
2017 $1,015,618,744,160 $281,353,605,987
2016 $931,877,364,038 $257,096,001,178
2015 $860,854,232,686 $239,258,328,382
2014 $890,814,755,534 $233,451,469,643
2013 $912,524,136,718 $213,708,811,665
2012 $917,869,913,333 $195,590,661,129
2011 $892,969,104,563 $172,595,049,184
2010 $755,094,157,622 $147,201,173,197
2009 $539,580,085,612 $106,014,659,565
2008 $510,228,634,992 $99,130,304,099
2007 $432,216,737,775 $77,414,425,532
2006 $364,570,515,618 $66,371,664,817
2005 $285,868,619,196 $57,633,255,738
2004 $256,836,875,295 $45,427,854,693
2003 $234,772,463,824 $39,552,513,232
2002 $195,660,611,165 $35,064,105,501
2001 $160,446,947,785 $32,685,198,809
2000 $165,021,012,078 $31,172,518,403
1999 $140,001,351,215 $28,683,659,007
1998 $95,445,547,873 $27,209,602,050
1997 $215,748,998,610 $26,843,700,442
1996 $227,369,679,375 $24,657,470,575
1995 $202,132,028,723 $20,736,164,459
1994 $176,892,143,932 $16,286,433,533
1993 $158,006,700,302 $13,180,953,598
1992 $128,026,966,580 $9,866,990,236
1991 $116,621,996,217 $9,613,369,520
1990 $106,140,727,334 $6,471,740,806
1989 $94,451,427,877 $6,293,304,975
1988 $84,300,174,486 $25,423,812,649
1987 $75,929,617,558 $36,658,108,850
1986 $79,954,072,545 $26,336,616,250
1985 $85,289,488,375 $14,094,687,821
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/vietnam | CC BY

GDP per capita in Indonesia vs Vietnam by year

Indonesia
GDP per capita

GDP per capita, PPP
Vietnam
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Vietnam
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $4,717 $16,386
2023 $4,876 $15,416 $4,323 $15,034
2022 $4,731 $14,285 $4,148 $13,905
2021 $4,287 $12,757 $3,704 $12,049
2020 $3,854 $11,729 $3,534 $11,609
2019 $4,107 $11,986 $3,441 $11,029
2018 $3,861 $11,372 $3,222 $10,010
2017 $3,799 $10,688 $2,956 $9,170
2016 $3,521 $10,263 $2,735 $8,375
2015 $3,288 $10,028 $2,578 $7,672
2014 $3,441 $10,065 $2,546 $7,297
2013 $3,567 $9,866 $2,360 $6,758
2012 $3,632 $9,530 $2,185 $6,377
2011 $3,579 $8,937 $1,951 $5,786
2010 $3,066 $8,353 $1,683 $5,389
2009 $2,218 $7,868 $1,226 $5,061
2008 $2,125 $7,569 $1,164 $4,844
2007 $1,823 $7,096 $926 $4,581
2006 $1,558 $6,583 $808 $4,237
2005 $1,238 $6,134 $711 $3,894
2004 $1,127 $5,700 $565 $3,543
2003 $1,043 $5,353 $497 $3,240
2002 $881 $5,076 $445 $3,002
2001 $732 $4,849 $419 $2,809
2000 $764 $4,639 $404 $2,614
1999 $657 $4,386 $376 $2,421
1998 $455 $4,356 $361 $2,308
1997 $1,045 $5,037 $362 $2,189
1996 $1,119 $4,807 $337 $2,019
1995 $1,011 $4,451 $287.8 $1,841
1994 $900 $4,096 $229.9 $1,674
1993 $817 $3,793 $189.4 $1,534
1992 $674 $3,538 $144.5 $1,413
1991 $624 $3,305 $143.7 $1,298
1990 $578 $3,044 $98.8 $1,210
1989 $524 - $98.1 -
1988 $477 - $405 -
1987 $438 - $595 -
1986 $470 - $436 -
1985 $511 - $238.6 -
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/vietnam | CC BY

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $4,717 in Vietnam, ranking 122/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Vietnam ranks 108th at $16,386.

Economic indicators

Indonesia Vietnam
Gross domestic product
$1.4T
2024
$476B
2024
GDP rank
16/197
2024
33/197
2024
GDP growth
5.03%
2023-2024
7.09%
2023-2024
GDP per capita
$4,925
2024
$4,717
2024
GDP per capita rank
121/197
2024
122/197
2024
GDP per capita, PPP
$16,448
2024
$16,386
2024
GDP per capita PPP rank
107/197
2024
108/197
2024
Government debt
$561B
2024
$149B
2024
Debt-to-GDP ratio
40.2%
2024
31.3%
2024
Government debt per person
$1,978
2024
$1,475
2024
Government debt per person rank
120/185
2024
132/185
2024
Average annual personal income after taxes
$3,371
2026
$4,020
2026
Market capitalization of domestic companies
$758B
2023
$205B
2024
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
5
2025
Income share by richest 10%
28.8%
2024
28.1%
2022
Income share by poorest 10%
3.5%
2024
2.6%
2022
Government expenditure, % of GDP
16.8%
2024
19.1%
2024
Consumer prices inflation
2.18%
2023-2024
3.6%
2023-2024
Central bank interest rate
4.75%
2025
4.5%
2023
Unemployment rate
3.31%
2023
1.53%
2024
Population
288551776
102365351

Spending and national debt comparison by year

Indonesia
Spending

Debt
Vietnam
Spending

Debt
1x
Year % of GDP
Indonesia Vietnam
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 19.1% 31.3%
2023 16.6% 39.6% 18.8% 34.3%
2022 17.3% 40.1% 18.2% 34.9%
2021 18.1% 41.1% 20.1% 39.2%
2020 18.4% 39.7% 21.3% 41.3%
2019 16.4% 30.6% 19.8% 41%
2018 16.6% 30.4% 20.5% 43.8%
2017 16.4% 29.4% 21.5% 46.6%
2016 16.9% 28% 22.2% 47.9%
2015 17.6% 27% 24.2% 46.1%
2014 18.4% 24.6% 22.8% 43.6%
2013 18.8% 24.9% 24.5% 41.4%
2012 18.8% 23% 23.5% 38.3%
2011 17.7% 23.1% 21.2% 36.2%
2010 16.9% 26.4% 23.7% 37.3%
2009 17% 26.5% 25% 36.2%
2008 19.4% 30.3% 21.4% 31%
2007 18.7% 38.1% 22.3% 32.2%
2006 18.4% 35.8% 20.5% 30.2%
2005 17.4% 42.6% 20.6% 28.7%
2004 17.8% 51.3% 19.4% 29.4%
2003 18.2% 55.6% 22.2% 29.8%
2002 16.9% 62.3% 19.7% 27.7%
2001 19.5% 73.7% 19.2% 25.4%
2000 15.3% 87.4% 17.8% 24.8%
1999 15.1% 95.9% 16.7% -
1998 15.1% 72.5% 16% -
1997 15.2% 26.4% - -
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/vietnam | CC BY

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Vietnam spent $91.1B, or 19.1% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 31.3% in Vietnam, ranking 132/185 and 156/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Vietnam
1x
Year Deficit/surplus, % of GDP
Indonesia Vietnam
2024 -2.3% -1.54%
2023 -1.64% -1.72%
2022 -2.31% 0.67%
2021 -4.4% -1.43%
2020 -6.07% -2.86%
2019 -2.09% -0.4%
2018 -1.69% -1.02%
2017 -2.26% -1.96%
2016 -2.56% -3.16%
2015 -2.72% -4.98%
2014 -1.8% -5.02%
2013 -1.96% -5.96%
2012 -1.59% -5.46%
2011 -0.7% -0.9%
2010 -1.24% -2.25%
2009 -1.64% -4.82%
2008 0.05% -0.45%
2007 -0.95% -1.74%
2006 0.45% 0.2%
2005 0.46% -0.95%
2004 -0.26% -0.15%
2003 -1.08% -2.56%
2002 -0.58% -1.85%
2001 -1.76% -2.19%
2000 -1.87% -1.61%
1999 -0.96% -1.25%
1998 -1.89% -0.1%
1997 -1.03% -
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/vietnam | 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 Vietnam's deficit of $7.32B, or 1.54% of GDP.

Over the past 27 years, Indonesia recorded a fiscal deficit in 24 of those years, while Vietnam ran a deficit in 25 years. On average, Indonesia posted an annual deficit equal to 1.68% of GDP, compared to deficit of 2.05% of GDP for Vietnam.

Inflation comparison by year

Inflation
Indonesia

Vietnam
1x
Year Consumer prices inflation
Indonesia Vietnam
2024 2.18% 3.6%
2023 3.67% 3.3%
2022 4.21% 3.2%
2021 1.56% 1.8%
2020 1.92% 3.2%
2019 3.03% 2.8%
2018 3.2% 3.5%
2017 3.81% 3.5%
2016 3.53% 2.7%
2015 6.36% 0.6%
2014 6.39% 4.1%
2013 6.41% 6.6%
2012 4.28% 9.1%
2011 5.36% 18.7%
2010 5.13% 9.1%
2009 4.39% 6.7%
2008 10.2% 23.3%
2007 6.41% 8.4%
2006 13.1% 7.7%
2005 10.5% 8.3%
2004 6.06% 7.8%
2003 6.76% 3.1%
2002 11.9% 3.8%
2001 11.5% -0.4%
2000 3.69% -1.8%
1999 20.5% 4.1%
1998 58.5% 8.1%
1997 6.23% 3.1%

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/vietnam | CC BY

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 5.64% in Vietnam. In 2024, inflation was 2.18% in Indonesia and 3.6% in Vietnam.

Top exports between countries

Indonesia
Export category Export value
Raw materials & minerals $2.22B
Metals $2.02B
Machinery & equipment $1.97B
Processed food, beverages & tobacco $1.22B
Chemicals & pharma $626M
Animal & marine products $381M
Wood & paper products $357M
Textiles & consumer goods $334M
Raw agricultural goods $321M
Miscellaneous $19.8M
Vietnam
Export category Export value
Machinery & equipment $1.42B
Textiles & consumer goods $911M
Raw agricultural goods $742M
Metals $603M
Chemicals & pharma $540M
Raw materials & minerals $300M
Wood & paper products $218M
Processed food, beverages & tobacco $185M
Animal & marine products $138M
Miscellaneous $21.7M

Balance of trade

Indonesia Vietnam
Current account balance
-$8.72B
2024
$28B
2024
Current account balance ranking
174/190
2024
18/190
2024
Current account balance, % of GDP
-0.62%
2024
+5.89%
2024
Goods imports
$223B
2024
$362B
2024
Goods exports
$263B
2024
$406B
2024
Service imports
$57.6B
2024
$36.2B
2024
Service exports
$39B
2024
$23.9B
2024
Imports of goods and services, % of GDP
20.4%
2024
83.7%
2024
Exports of goods and services, % of GDP
22.2%
2024
90.2%
2024

Economic freedom indices

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

Indonesia Vietnam
Economic freedom 65.1 64.4
Economic freedom ranking 67/197 73/197
Property rights 39.7 47.3
Government integrity 42 39.2
Judicial effectiveness 43.1 31.3
Tax burden 81.5 80.9
Government spending 91.4 89.5
Fiscal health 89.8 96.9
Business freedom 69.2 70
Labor freedom 56.8 54.7
Monetary freedom 79.4 73.2
Trade freedom 78.6 79.8
Investment freedom 50 60
Financial freedom 60 50

Economic freedom comparison by year

Indonesia
Vietnam
1x
Year Economic freedom index
Indonesia Vietnam
2026 65.1 64.4
2025 65.2 65.2
2024 63.5 62.8
2023 63.5 61.8
2022 64.4 60.6
2021 66.9 61.7
2020 67.2 58.8
2019 65.8 55.3
2018 64.2 53.1
2017 61.9 52.4
2016 59.4 54
2015 58.1 51.7
2014 58.5 50.8
2013 56.9 51
2012 56.4 51.3
2011 56 51.6
2010 55.5 49.8
2009 53.4 51
2008 53.2 50.4
2007 53.2 49.8
2006 51.9 50.5
2005 52.9 48.1
2004 52.1 46.1
2003 55.8 46.2
2002 54.8 45.6
2001 52.5 44.3
2000 55.2 43.7
1999 61.5 42.7
1998 63.4 40.4
1997 62 38.6
1996 61 40.2
1995 54.9 41.7

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 64.4 for Vietnam, ranking 73/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Vietnam
Services, % of GDP
43.8%
2024
42.4%
2024
Industry, % of GDP
39.3%
2024
37.6%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
11.9%
2024
GNI, Atlas method
$1.39T
2024
$454B
2024
GNI per capita, PPP
$16,010
2024
$15,850
2024
Total reserves including gold
$156B
2024
$83.1B
2024
Total reserves ranking
20/177
2024
30/177
2024
Net foreign direct investment
-$15.9B
2024
-$19.6B
2024
Net inflows of foreign direct investment
$24.2B
2024
$20.2B
2024
Net outflows of foreign direct investment
$8.39B
2024
$600M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
7.29%
2024
Poverty at national poverty lines
9%
2024
4.2%
2022
Gross capital formation, % of GDP
31.4%
2024
30.6%
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/vietnam | 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.