JAKARTA, RAKYAT NEWS – Indonesia’s economy has recently been recognized by the International Monetary Fund (IMF) as the eighth largest in the world in terms of Gross Domestic Product (GDP) based on Purchasing Power Parity (PPP). According to IMF projections, Indonesia’s GDP will reach approximately $4.98 trillion in 2024, surpassing the GDP of both France and the United Kingdom.

This achievement marks a significant milestone for Indonesia, as it outpaces the two European economic giants. France’s GDP is expected to be $4.36 trillion, while the UK’s is projected to stand at $4.28 trillion.

Indonesia’s rise in the global economic rankings highlights the country’s growing economic power and its expanding role in the global market.

The IMF’s assessment uses the PPP method, which compares the standard of living and the price of goods and services across countries. By considering local prices and living standards, PPP provides a more accurate picture of a country’s economic strength compared to nominal GDP, which only looks at market exchange rates.

Leading the world in GDP by PPP in 2024 is China, with a staggering $37.07 trillion, followed by the United States at $29.17 trillion. India and Russia rank third and fourth, with GDPs of $16.02 trillion and $6.9 trillion, respectively. Japan follows closely at fifth place with a GDP of $6.57 trillion, and Germany sits in sixth with $6.02 trillion. Brazil comes in seventh with $5.7 trillion, just ahead of Indonesia.

Indonesia’s rapid growth has been attributed to various factors, including robust domestic consumption, a growing middle class, and increased foreign investments.

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