Indonesia Surpasses France and UK in IMF’s 2024 GDP Per Capita Ranking
In a significant economic milestone, the International Monetary Fund (IMF) has ranked Indonesia’s gross domestic product (GDP) per capita for 2024 at 8th globally, amounting to $4.98 trillion when adjusted for purchasing power parity (PPP). This places Indonesia ahead of economic powerhouses like France and the UK.
Understanding the Ranking
According to the IMF, France and the UK have GDPs of $4.36 trillion and $4.28 trillion respectively, under the PPP-based GDP method. This approach评估ates the standard of living and prices of goods and services across different countries, providing a more accurate comparison than nominal GDP figures.
Global Leaders in GDP Per Capita
China maintains its position as the country with the highest PPP-based GDP, projections show $37.07 trillion for 2024. The United States follows closely with $29.17 trillion. India and Russia secure third and fourth places with $16.02 trillion and $6.9 trillion respectively.
Japan rounds out the top five with a GDP of $6.57 trillion, Germany in sixth place with $6.02 trillion, and Brazil in seventh with $4.7 trillion. Indonesia, with a GDP of $4.66 trillion, enters the top ten, overtaking France and the UK.
Global Economic Projections
According to the IMF’s World Economic Outlook (WEO) Update from January 2025, global economic growth is predicted to be 3.3% in both 2025 and 2026. This figure is slightly lower than the historical average of 3.7% from 2000 to 2019.
Indonesian Economic Outlook
The IMF forecasts Indonesia’s economy to grow by 5.1% year-on-year in 2025 and 2026. This projection remains consistent with the IMF’s October 2024 estimates, indicating a strong and stable economic performance for the Southeast Asian nation.
Implications for Indonesia
With Indonesia’s rising global economic standing, the country is poised to attract more foreign investment and integrate deeper into the global economy. The PPB-based GDP ranking highlights Indonesia’s significant economic achievements and potential for future growth.
Conclusion
Indonesia’s ascendancy in global economic rankings underlines its strategic importance and robust economic fundamentals. As one of the world’s fastest-growing economies, Indonesia continues to outperform many established economies, setting the stage for sustainable long-term development.
Stay tuned for more insights into Indonesian economic developments and projections for the coming years. Share your thoughts and insights in the comments below!
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