#Indiaeconomy #Indonesiaeconomy #India #Indonesia
Comparison of India and Indonesia's Economy
Indonesia, and India, are the world’s fastest-growing major economies. Growing at the average rate of 5 to 8%, one of the highest among the G20 economies.
These 2 countries are the biggest and largest in terms of economies, populations, and land area in their region, making an influential and important rule on the economic growth in Asia.
According to the World Bank 2022 Report, Indonesia is the world’s 17th biggest economy with a gross domestic product, GDP nominal amounting to $1.18 trillion. While India is the 6th biggest economy in the world, with a GDP nominal amounting to $3.17 trillion.
In terms of GDP measure in purchasing power parity, Indonesia ranks 7th in the world with GDP PPP amounting to $3.56 trillion, while India ranks 3rd in the world with recorded GDP PPP amounting to $10.21 Trillion.
Per GDP per capita, Indonesia is considered wealthier with GDP per capita amounting to $4,291, almost twice what India’s GDP per capita, which only amounts to $2,277.
On the other hand, the Gross National Income per capita of Indonesia is amounting to $4,140, and India’s GNI per capita is $2,170. The only two countries in G20, which are categorized as lower middle income.
Indonesia is the world’s 4th most populous nation with 276.36 million nationals, while India is the 2nd most populous nation with a population 5 times of Indonesia, with 1.39 billion nationals which constitute 17.7% of the world population.
Jakarta is the capital and financial center of Indonesia, on the other hand, New Delhi is the capital of India while Mumbai is the biggest financial hub of the country.
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