IMF ranks Indonesia 8th in the world for GDP in 2024

Indonesia surpasses both France and the UK, with the IMF reporting their GDPs at 4.36 trillion USD and 4.28 trillion USD, respectively.

The International Monetary Fund (IMF) has ranked Indonesia's gross domestic product (GDP) per capita in 2024, adjusted for purchasing power parity (PPP), 8th in the world, at 4.98 trillion USD.

Accordingly, Indonesia surpasses both France and the UK, with the IMF reporting their GDPs at 4.36 trillion USD and 4.28 trillion USD, respectively.

The PPP-based GDP method compares standards of living and prices of goods and services between countries.

Citing IMF data, China prevails as the country with the highest PPP-based GDP in 2024, with 37.07 trillion USD. This is followed by the US, which recorded a figure of 29.17 trillion USD.

India and Russia claim the third and fourth places, with 16.02 trillion USD and 6.9 trillion USD, respectively. Japan is sitting in fifth place with a 6.57 trillion USD PPP-based GDP value.

In the sixth position, Germany chalked up a GDP figure of 6.02 trillion USD, followed by Brazil at 4.7 trillion USD and Indonesia at 4.66 trillion USD.

Meanwhile, citing the World Economic Outlook (WEO) Update data released by the IMF in January 2025, global economic growth in 2025 and 2026 is projected at 3.3%, or below the historical average from 2000 to 2019 of 3.7%.

The IMF projects that Indonesia's economy in 2025 and 2026 will grow by 5.1 percent y-o-y, unchanged from the IMF’s projection in October 2024.

Parliaments

Indonesia, India ink numerous cooperation agreements
Parliaments

Indonesia, India ink numerous cooperation agreements

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Indonesia sets ambitious labour export target for 2025
Parliaments

Indonesia sets ambitious labour export target for 2025

Indonesia aims to send at least 425,000 workers abroad in 2025, a move expected to boost the nation’s economic growth by 0.52% and generate over 300 trillion IDR (18.5 billion USD) in foreign exchange earnings, according to Minister of Migrant Worker Protection Abdul Kadir Karding.

Indonesia joins BRICS as full member
Parliaments

Indonesia joins BRICS as full member

Brazil's government said in a statement on January 6 that Indonesia is formally joining BRICS as a full member, further expanding the group of major emerging economies, including Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates (UAE).