Indonesia GDP per Capita: Overview and Outlook
Current GDP per Capita
Indonesia's GDP per capita is currently around USD 5,000. As such, though the country is the largest economy in Southeast Asia and a globally significant emerging market, it remains poorer than the global average in per-person terms.
Historical Changes in Indonesia's GDP per Capita
Having recovered from the devastating Asian Financial Crisis of 1997-98, Indonesia entered the 21st century on a path of political and economic reform. Under a new democratic government, it pursued prudent macroeconomic policies that laid the foundation for stable growth. For much of the 2000s and 2010s, Indonesia's economy grew at a remarkably consistent rate of around 5% per year. As a result, GDP per capita is now around seven times higher in nominal terms than at the turn of the century.
This growth was driven primarily by strong domestic consumption, thanks to the country's large population. Like other resource-rich nations, it also benefited significantly from the commodity boom of the 2000s. The country has shown impressive resilience, navigating the 2008 Global Financial Crisis and the end of the commodity super-cycle without a major downturn.
GDP per Capita Predictions for the Coming Years
Per capita income is projected to climb steadily through the decade, as the country should continue to enjoy economic growth rates well above the world average. The economy will benefit from strong infrastructure spending, a business-friendly government aiding private investment, rapid population growth and investment in metal processing.
Want to get concrete forecasts for Indonesia's GDP per capita for the coming years? FocusEconomics collects GDP per capita projections out to 2035 from a panel of 13 analysts at the leading national, regional and global forecast institutions. To get in touch with our team for more information, fill in the form here.
Key Factors to Watch
The central pillar of Indonesia's long-term economic strategy is "downstreaming" (hilirisasi). This is an ambitious industrial policy aimed at forcing the domestic processing of its vast raw material wealth, in order to extract more value from these materials. The flagship policy has been a ban on the export of raw nickel ore, which has successfully attracted tens of billions of dollars in foreign investment to build a world-leading nickel processing and stainless steel industry. It will be crucial to see whether this strategy can be successfully extended to other key resources, like bauxite and copper, with the ultimate goal of becoming a major player in the global electric vehicle (EV) battery supply chain. Climate volatility is an important risk; Indonesia is at risk of wildfires and tsunamis which could set back economic development and destroy infrastructure.
Indonesia GDP Per Capita Chart
Note: This chart displays GDP per capita (USD) for Indonesia from 2014 to 2024.
Source: Macrobond.
Indonesia GDP Per Capita Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| GDP per capita (USD) | 3,930 | 4,355 | 4,783 | 4,922 | 4,963 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indonesian GDP Per Capita projections for the next ten years from a panel of 13 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable GDP Per Capita forecast available for Indonesian GDP Per Capita.
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