Jakarta, Indonesia Sentinel — Indonesia has secured its position as the world eighth-largest economy, according to the latest 2024 data from the International Monetary Fund (IMF). With a Gross Domestic Product (GDP) of $4.66 trillion based on Purchasing Power Parity (PPP), Indonesia has surpassed major global players such as France and the United Kingdom.
IMF recently released the latest data on the world’s economic rankings for 2024. The IMF’s rankings, based on GDP adjusted for PPP, measure the economic strength of countries by accounting for differences in price levels across nations, according to IDN Times. PPP-adjusted GDP reflects the value of goods and services that can be purchased with a country’s currency relative to other economies.
Gross Domestic Product (GDP) represents the total monetary value of all finished goods and services produced within a country over a specific period, typically one year. When adjusted for PPP, GDP offers a more accurate picture of an economy’s size and purchasing power on the global stage.
Top 10 Economies in 2024 by PPP-Adjusted GDP
According to the IMF, here’s the top 10 world largest economy list based on GDP adjusted for PPP:
- China – $37.1 trillion
- United States – $29.2 trillion
- India – $16.0 trillion
- Russia – $6.9 trillion
- Japan – $6.6 trillion
- Germany – $6.0 trillion
- Brazil – $4.7 trillion
- Indonesia – $4.7 trillion
- France – $4.4 trillion
- United Kingdom – $4.3 trillion
China continues to lead the global rankings with a PPP-adjusted GDP of $37.07 trillion, followed by the United States at $29.17 trillion. India, reflecting its rapid economic growth, ranks third with $16.02 trillion.
Russia takes the fourth position at $6.91 trillion, with Japan and Germany following closely at $6.57 trillion and $6.02 trillion, respectively. Brazil narrowly surpasses Indonesia with $4.7 trillion, while France and the UK round out the top ten with $4.36 trillion and $4.28 trillion, respectively.
Indonesia’s Rise in the Global Economy
As Southeast Asia’s largest economy and one of the fastest-growing markets globally, Indonesia’s rise to eighth place highlights its growing influence on the international stage. This milestone strengthens the nation’s appeal to foreign investors, supported by economic stability and positive growth trajectories.
Indonesia’s status as the world’s eighth-largest economy also bolsters its ability to shape global economic policies. With its significant market potential and abundant resources, the country is poised to continue climbing the ranks in the years ahead.
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While this achievement marks a significant milestone, it also serves as a starting point for further progress. Indonesia’s economic potential positions it as a critical player in the global economy, with opportunities to solidify its standing and advance its influence on the world stage.
(Raidi/Agung)
