Indonesia vs Singapore: Government debt
Government debt: 40.9% of GDP in Indonesia in 2025 and 165.8% of GDP in Singapore in 2024, by IMF estimates. In 2024 the value was higher in Singapore, by 125.6 percentage points, or 4.13 times that in Indonesia.
IndonesiaSingapore
Watch it change on the map% of GDP · IMF
Latest figures
% of GDP · IMF
| Country | Latest | 10 years before | Rank in 2025 | Projected |
|---|---|---|---|---|
| Indonesia | 40.9 2025 | 27 | 101 of 149 | 41.6 2031 |
| Singapore | 165.8 2024 | 97.8 | — | 169.2 2031 |
What the numbers say
- Singapore has been higher since 2001, when it overtook Indonesia.
- The IMF projection (World Economic Outlook, October 2026) puts Indonesia at 41.6% of GDP and Singapore at 169.2% of GDP in 2031.
Every year
% of GDP · IMF
| Year | Indonesia | Singapore |
|---|---|---|
| 2025 | 40.9 | 165.7 |
| 2024 | 40.2 | 165.8 |
| 2023 | 39.6 | 170.4 |
| 2022 | 40.1 | 153.3 |
| 2021 | 41.1 | 139.9 |
| 2020 | 39.8 | 147.1 |
| 2019 | 30.6 | 127.7 |
| 2018 | 30.4 | 109.2 |
| 2017 | 29.4 | 107.3 |
| 2016 | 28 | 105.9 |
| 2015 | 27 | 102.1 |
| 2014 | 24.6 | 97.8 |
| 2013 | 24.9 | 98.2 |
| 2012 | 23 | 106.7 |
| 2011 | 23.1 | 103.1 |
| 2010 | 26.4 | 98.7 |
| 2009 | 26.5 | 101.7 |
| 2008 | 30.3 | 97.9 |
| 2007 | 38.1 | 87.8 |
| 2006 | 35.9 | 86.5 |
| 2005 | 42.6 | 92.7 |
| 2004 | 51.3 | 95.7 |
| 2003 | 55.6 | 99.1 |
| 2002 | 62.3 | 96.3 |
| 2001 | 73.7 | 94.5 |
| 2000 | 87.4 | 82.3 |
| 1999 | – | 85.3 |
| 1998 | – | 84.7 |
| 1997 | – | 70.8 |
| 1996 | – | 71.3 |
| 1995 | – | 69.8 |
| 1994 | – | 70.7 |
| 1993 | – | 71.2 |
| 1992 | – | 79 |
| 1991 | – | 76.4 |
| 1990 | – | 73.5 |
- 12.3Projected
IMF projection (World Economic Outlook, October 2026) · 2026–2031
| Year | Indonesia | Singapore |
|---|---|---|
| 2026 | 41.7 | 166.4 |
| 2027 | 41.6 | 167.1 |
| 2028 | 41.4 | 167.9 |
| 2029 | 41.5 | 168.5 |
| 2030 | 41.6 | 169 |
| 2031 | 41.6 | 169.2 |
Each country on its own
Good to know
- What the government owes, as a share of the economy’s yearly output.
- Source: IMF, World Economic Outlook, October 2026.
- The dashed line is the IMF projection (World Economic Outlook, October 2026), a scenario rather than a forecast.
- Ranks count the 149 countries with a value in 2025, highest first.
How the layers work, where their data comes from and what they can’t tell you: Countries through time