Indicators of economy in Indonesia

Impact of the COVID-19 pandemic

The consequences of the COVID pandemic were not insignificant in Indonesia 2020. Overall, gross domestic product in 2020 fell from 1.119 trillion US dollars to 1.059 trillion US dollars. With a drop of 5.4 percent, the economy in Indonesia suffered more significant losses than other countries. The tourism sector alone slumped by around 81 percent. The unemployment rate rose from 3.6 to 4.3 percent. The country's gross debt increased by 20.6 percent. The inflation rate fell from 3.0 percent previously to 1.9 percent by the end of 2020.

In 2021, there was already a recovery and the gross domestic product increased to 1.186 trillion US dollars (=106.0% of 2019).

Income and purchasing power

The average monthly income in Indonesia is 348 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 66.9 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in Indonesia than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 82.2 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

In the Global Innovation Index, Indonesia ranked 75th in 2022 with 27.9 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points. Out of the 2,000 largest listed companies in the world, 7 originate from Indonesia. This is determined annually in the Forbes Global 2000 list. The 7 largest companies in the country in 2022 were:

Rank 351: Bank Rakyat Indonesia (BRI) (Jakarta)
Rank 490: Bank Mandiri (Jakarta)
Rank 518: Bank Central Asia (Jakarta)
Rank 745: Telkom Indonesia (Jakarta)
Rank 1153: Bank Negara Indonesia (Jakarta)
Rank 1749: Bayan Resources (Jakarta)
Rank 1866: PT Saratoga Investama Sedaya (Jakarta)

Development of gross domestic product in billions of USD 1970 - 2021

Household debt and deficits 2021

Imports and Exports 2022

Development of imports and exports in billions of USD 1981 - 2022