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Economy of Indonesia vs Zimbabwe compared: GDP & Debt

Updated on by Georank team

Indonesia has a GDP of $1.4T compared to $41.5B for Zimbabwe, ranking 16/197 and 102/197 by economy size, respectively.

Indonesia has $561B in government debt (40.2% of GDP), compared to $30.3B (73% of GDP) in Zimbabwe.

Indonesia vs Zimbabwe GDP by year

Indonesia
Zimbabwe
1x
Year GDP, current $
Indonesia Zimbabwe
2024 $1,396,300,098,191 $41,539,411,516
2023 $1,371,169,301,564 $35,871,779,681
2022 $1,319,101,183,380 $40,757,561,709
2021 $1,186,509,691,087 $41,287,673,690
2020 $1,059,054,842,698 $31,980,334,561
2019 $1,119,099,871,350 $33,357,695,635
2018 $1,042,271,532,989 $34,141,666,667
2017 $1,015,618,744,160 $51,035,657,371
2016 $931,877,364,038 $20,559,250,000
2015 $860,854,232,686 $19,973,250,000
2014 $890,814,755,534 $19,505,500,000
2013 $912,524,136,718 $19,100,750,000
2012 $917,869,913,333 $17,123,500,000
2011 $892,969,104,563 $14,109,000,000
2010 $755,094,157,622 $12,047,750,000
2009 $539,580,085,612 $9,670,750,000
2008 $510,228,634,992 $4,418,000,000
2007 $432,216,737,775 $5,294,750,000
2006 $364,570,515,618 $5,446,750,000
2005 $285,868,619,196 $5,758,250,000
2004 $256,836,875,295 $5,808,500,000
2003 $234,772,463,824 $5,730,500,000
2002 $195,660,611,165 $6,345,250,000
2001 $160,446,947,785 $6,780,750,000
2000 $165,021,012,078 $6,693,250,000
1999 $140,001,351,215 $6,861,500,000
1998 $95,445,547,873 $6,405,250,000
1997 $215,748,998,610 $8,534,000,000
1996 $227,369,679,375 $8,557,500,000
1995 $202,132,028,723 $7,115,000,000
1994 $176,892,143,932 $6,894,250,000
1993 $158,006,700,302 $6,567,250,000
1992 $128,026,966,580 $6,755,000,000
1991 $116,621,996,217 $8,646,000,000
1990 $106,140,727,334 $8,788,301,546
1989 $94,451,427,877 $8,290,553,535
1988 $84,300,174,486 $7,818,774,177
1987 $75,929,617,558 $6,744,657,033
1986 $79,954,072,545 $6,220,698,247
1985 $85,289,488,375 $5,640,137,575
1984 $84,853,700,028 $6,355,369,172
1983 $81,052,283,384 $7,768,031,182
1982 $90,158,449,295 $8,544,060,905
1981 $85,518,233,419 $8,015,464,252
1980 $72,482,337,397 $6,682,278,300
1979 $51,400,186,343 $5,180,102,910
1978 $51,455,719,076 $4,353,822,343
1977 $45,808,915,663 $4,366,610,469
1976 $37,269,156,627 $4,320,576,877
1975 $30,463,855,422 $4,373,532,601
1974 $25,802,409,639 $3,984,194,614
1973 $16,273,253,012 $3,311,043,292
1972 $10,997,590,361 $2,679,096,597
1971 $9,333,536,370 $2,179,828,710
1970 $9,150,684,932 $1,885,168,339
1969 $8,337,423,313 $1,748,891,294
1968 $7,076,465,300 $1,480,355,355
1967 $5,667,756,628 $1,397,715,282
1966 - $1,282,403,936
1965 - $1,312,105,394
1964 - $1,217,759,447
1963 - $1,160,103,724
1962 - $1,118,172,226
1961 - $1,097,206,526
1960 - $1,053,528,036

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

GDP per capita in Indonesia vs Zimbabwe by year

Indonesia
GDP per capita

GDP per capita, PPP
Zimbabwe
GDP per capita

GDP per capita, PPP
1x
Year Current $
Indonesia Zimbabwe
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $4,925 $16,448 $2,497 $5,928
2023 $4,876 $15,416 $2,195 $5,791
2022 $4,731 $14,285 $2,536 $5,396
2021 $4,287 $12,757 $2,614 $4,827
2020 $3,854 $11,729 $2,060 $4,179
2019 $4,107 $11,986 $2,184 $4,166
2018 $3,861 $11,372 $2,271 $3,993
2017 $3,799 $10,688 $3,445 $10,756
2016 $3,521 $10,263 $1,408 $4,275
2015 $3,288 $10,028 $1,387 $4,046
2014 $3,441 $10,065 $1,373 $3,903
2013 $3,567 $9,866 $1,363 $3,784
2012 $3,632 $9,530 $1,239 $3,472
2011 $3,579 $8,937 $1,038 $3,047
2010 $3,066 $8,353 $902 $2,661
2009 $2,218 $7,868 $736 $2,233
2008 $2,125 $7,569 $341 $1,987
2007 $1,823 $7,096 $414 $2,396
2006 $1,558 $6,583 $431 $2,454
2005 $1,238 $6,134 $461 $2,496
2004 $1,127 $5,700 $470 $2,591
2003 $1,043 $5,353 $468 $2,708
2002 $881 $5,076 $525 $3,238
2001 $732 $4,849 $566 $3,533
2000 $764 $4,639 $563 $3,429
1999 $657 $4,386 $582 $3,491
1998 $455 $4,356 $552 $3,527
1997 $1,045 $5,037 $751 $3,457
1996 $1,119 $4,807 $767 $3,372
1995 $1,011 $4,451 $648 $3,051
1994 $900 $4,096 $634 $3,012
1993 $817 $3,793 $605 $2,703
1992 $674 $3,538 $631 $2,651
1991 $624 $3,305 $831 $2,930
1990 $578 $3,044 $867 $2,757
1989 $524 - $840 -
1988 $477 - $816 -
1987 $438 - $726 -
1986 $470 - $693 -
1985 $511 - $649 -
1984 $520 - $757 -
1983 $508 - $959 -
1982 $578 - $1,096 -
1981 $561 - $1,069 -
1980 $487 - $949 -
1979 $353 - $779 -
1978 $362 - $665 -
1977 $331 - $677 -
1976 $275.7 - $687 -
1975 $231.1 - $717 -
1974 $200.7 - $674 -
1973 $129.9 - $579 -
1972 $90.1 - $483 -
1971 $78.5 - $406 -
1970 $79.1 - $361 -
1969 $74.1 - $346 -
1968 $64.7 - $302 -
1967 $53.2 - $294.4 -
1966 - - $278.7 -
1965 - - $294.3 -
1964 - - $281.9 -
1963 - - $277.1 -
1962 - - $275.7 -
1961 - - $279.2 -
1960 - - $276.6 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

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

Indonesia's GDP per capita is $4,925, ranking 121/197, compared to $2,497 in Zimbabwe, ranking 148/197. Adjusted for purchasing power (GDP per capita PPP), Indonesia ranks 107th at $16,448, while Zimbabwe ranks 154th at $5,928.

Economic indicators

Indonesia Zimbabwe
Gross domestic product
$1.4T
2024
$41.5B
2024
GDP rank
16/197
2024
102/197
2024
GDP growth
5.03%
2023-2024
1.74%
2023-2024
GDP per capita
$4,925
2024
$2,497
2024
GDP per capita rank
121/197
2024
148/197
2024
GDP per capita, PPP
$16,448
2024
$5,928
2024
GDP per capita PPP rank
107/197
2024
154/197
2024
Government debt
$561B
2024
$30.3B
2024
Debt-to-GDP ratio
40.2%
2024
73%
2024
Government debt per person
$1,978
2024
$1,824
2024
Government debt per person rank
120/185
2024
121/185
2024
Average annual personal income after taxes
$3,371
2026
$2,897
2026
Market capitalization of domestic companies
$758B
2023
$2.46B
1999
Number of millionaires
178,605
2025
n/a
Number of billionaires
33
2025
1
2025
Income share by richest 10%
28.8%
2024
40.5%
2019
Income share by poorest 10%
3.5%
2024
1.9%
2019
Government expenditure, % of GDP
16.8%
2024
12.9%
2024
Consumer prices inflation
2.18%
2023-2024
736%
2023-2024
Central bank interest rate
4.75%
2025
35%
2024
Unemployment rate
3.31%
2023
12.1%
2024
Population
288551776
17361868

Spending and national debt comparison by year

Indonesia
Spending

Debt
Zimbabwe
Spending

Debt
1x
Year % of GDP
Indonesia Zimbabwe
Government spending Government debt Government spending Government debt
2024 16.8% 40.2% 12.9% 73%
2023 16.6% 39.6% 15.5% 76.1%
2022 17.3% 40.1% 14.4% 66.8%
2021 18.1% 41.1% 12.8% 39.9%
2020 18.4% 39.7% 9.27% 56.8%
2019 16.4% 30.6% 9.36% 53.9%
2018 16.6% 30.4% 13.9% 33%
2017 16.4% 29.4% 19.8% 49%
2016 16.9% 28% 16.6% 35.1%
2015 17.6% 27% 14.7% 34.1%
2014 18.4% 24.6% 14.1% 29.2%
2013 18.8% 24.9% 14.7% 26.4%
2012 18.8% 23% 14.6% 27.2%
2011 17.7% 23.1% 16.2% 30%
2010 16.9% 26.4% 12.8% 33.2%
2009 17% 26.5% 7.93% 39.7%
2008 19.4% 30.3% 2.54% 41.3%
2007 18.7% 38.1% 3.43% 30.2%
2006 18.4% 35.8% 5.72% 26.7%
2005 17.4% 42.6% 10.5% 22.4%
2004 17.8% 51.3% - -
2003 18.2% 55.6% - -
2002 16.9% 62.3% - -
2001 19.5% 73.7% - -
2000 15.3% 87.4% - -
1999 15.1% 95.9% - -
1998 15.1% 72.5% - -
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/zimbabwe | CC BY

In 2024, Indonesia's government spending was $235B, accounting for 16.8% of its GDP, while Zimbabwe spent $5.37B, or 12.9% of GDP.

Debt-to-GDP ratio is 40.2% in Indonesia and 73% in Zimbabwe, ranking 132/185 and 50/185, respectively.

Government deficit by year

Deficit/surplus
Indonesia

Zimbabwe
1x
Year Deficit/surplus, % of GDP
Indonesia Zimbabwe
2024 -2.3% -1.06%
2023 -1.64% -3.9%
2022 -2.31% -3.3%
2021 -4.4% -2.24%
2020 -6.07% -0.34%
2019 -2.09% -1.72%
2018 -1.69% -3.81%
2017 -2.26% -7.37%
2016 -2.56% -4.63%
2015 -2.72% -1.45%
2014 -1.8% -0.71%
2013 -1.96% -0.69%
2012 -1.59% -0.13%
2011 -0.7% -1.72%
2010 -1.24% -0.11%
2009 -1.64% -1.39%
2008 0.05% -1.2%
2007 -0.95% -1.67%
2006 0.45% -1.4%
2005 0.46% -3.46%
2004 -0.26% -
2003 -1.08% -
2002 -0.58% -
2001 -1.76% -
2000 -1.87% -
1999 -0.96% -
1998 -1.89% -
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/zimbabwe | 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 Zimbabwe's deficit of $438M, or 1.06% of GDP.

Over the past 20 years, Indonesia recorded a fiscal deficit in 17 of those years, while Zimbabwe ran a deficit in 20 years. On average, Indonesia posted an annual deficit equal to 1.85% of GDP, compared to deficit of 2.11% of GDP for Zimbabwe.

Inflation comparison by year

Inflation
Indonesia

Zimbabwe
1x
Year Consumer prices inflation
Indonesia Zimbabwe
2024 2.18% 736%
2023 3.67% 667%
2022 4.21% 193.4%
2021 1.56% 98.5%
2020 1.92% 557%
2019 3.03% 255.3%
2018 3.2% 10.6%
2017 3.81% 0.9%
2016 3.53% -1.6%
2015 6.36% -2.4%
2014 6.39% -0.2%
2013 6.41% 1.6%
2012 4.28% 3.7%
2011 5.36% 3.5%
2010 5.13% 3%
2009 4.39% 6.2%
2008 10.2% 157%
2007 6.41% -72.7%
2006 13.1% 33%
2005 10.5% -31.5%
2004 6.06% 113.6%
2003 6.76% -8.6%
2002 11.9% -34.4%
2001 11.5% -37.2%
2000 3.69% 4.5%
1999 20.5% -13.4%
1998 58.5% -28%
1997 6.23% -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/zimbabwe | CC BY

Over the past 28 years, Indonesia has recorded an average annual inflation rate of 8.24%, compared with 93.4% in Zimbabwe. In 2024, inflation was 2.18% in Indonesia and 736% in Zimbabwe.

Top exports between countries

Indonesia
Export category Export value
Chemicals & pharma $1.68M
Processed food, beverages & tobacco $631K
Wood & paper products $455K
Textiles & consumer goods $348K
Machinery & equipment $204K
Raw materials & minerals $32K
Precious metals & jewellery $8K
Miscellaneous $3K
Raw agricultural goods $1K
Zimbabwe
Export category Export value
Processed food, beverages & tobacco $77.7M
Metals $5.38M
Raw agricultural goods $4K

Balance of trade

Indonesia Zimbabwe
Current account balance
-$8.72B
2024
$501M
2024
Current account balance ranking
174/190
2024
62/190
2024
Current account balance, % of GDP
-0.62%
2024
+1.21%
2024
Goods imports
$223B
2024
$9.06B
2024
Goods exports
$263B
2024
$7.79B
2024
Service imports
$57.6B
2024
$1.66B
2024
Service exports
$39B
2024
$457M
2024
Imports of goods and services, % of GDP
20.4%
2024
23.4%
2024
Exports of goods and services, % of GDP
22.2%
2024
18%
2024

Economic freedom indices

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

Indonesia Zimbabwe
Economic freedom 65.1 35.2
Economic freedom ranking 67/197 190/197
Property rights 39.7 19.4
Government integrity 42 20.7
Judicial effectiveness 43.1 16.8
Tax burden 81.5 73.6
Government spending 91.4 93.9
Fiscal health 89.8 52.4
Business freedom 69.2 42
Labor freedom 56.8 33.3
Monetary freedom 79.4 0
Trade freedom 78.6 50.4
Investment freedom 50 10
Financial freedom 60 10

Economic freedom comparison by year

Indonesia
Zimbabwe
1x
Year Economic freedom index
Indonesia Zimbabwe
2026 65.1 35.2
2025 65.2 35.1
2024 63.5 38.2
2023 63.5 39
2022 64.4 33.1
2021 66.9 39.5
2020 67.2 43.1
2019 65.8 40.4
2018 64.2 44
2017 61.9 44
2016 59.4 38.2
2015 58.1 37.6
2014 58.5 35.5
2013 56.9 28.6
2012 56.4 26.3
2011 56 22.1
2010 55.5 21.4
2009 53.4 22.7
2008 53.2 29.5
2007 53.2 32
2006 51.9 33.5
2005 52.9 35.2
2004 52.1 34.4
2003 55.8 36.7
2002 54.8 36.7
2001 52.5 38.8
2000 55.2 48.7
1999 61.5 47.2
1998 63.4 44.6
1997 62 48
1996 61 46.7
1995 54.9 48.5

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

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

The Economic Freedom Index for Indonesia is 65.1, ranking 67/197, compared to 35.2 for Zimbabwe, ranking 190/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Indonesia Zimbabwe
Services, % of GDP
43.8%
2024
50.6%
2024
Industry, % of GDP
39.3%
2024
35%
2024
Agriculture, forestry, and fishing, % of GDP
12.6%
2024
8.69%
2024
GNI, Atlas method
$1.39T
2024
$39.9B
2024
GNI per capita, PPP
$16,010
2024
$5,870
2024
Total reserves including gold
$156B
2024
$485M
2024
Total reserves ranking
20/177
2024
157/177
2024
Net foreign direct investment
-$15.9B
2024
-$465M
2024
Net inflows of foreign direct investment
$24.2B
2024
$465M
2024
Net outflows of foreign direct investment
$8.39B
2024
$131M
2024
Servicing debt to the IMF, % of GNI
5.65%
2024
3.44%
2024
Poverty at national poverty lines
9%
2024
38.3%
2019
Gross capital formation, % of GDP
31.4%
2024
8.85%
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/zimbabwe | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, 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.