Indonesia has secured the second-strongest economic growth among all G20 nations between 2000 and 2024, achieving a remarkable GDP expansion of over 730 percent over the 24-year period — joining India and Russia as the only three countries in the group to surpass this threshold, according to data compiled by GoodStats.
China dominated the rankings with an extraordinary 1,438 percent GDP surge, skyrocketing from US$1.22 trillion in 2000 to US$18.64 triliun in 2024, representing the fastest economic acceleration of any G20 member and demonstrating how a resource-rich, populous nation can overtake established economies within a single generation.
Indonesia, India, and Russia — all large, resource-abundant, and demographically significant nations — collectively demonstrated that emerging economies with strategic advantages in population size and natural resources can achieve sustained hyper-growth that rivals or exceeds the performance of long-established economic powers.
In stark contrast, Japan registered a negative 18.91 percent GDP contraction over the same period despite maintaining a still-substantial economy of US$4.03 trillion, proving that sheer economic size does not guarantee long-term growth and that mature economies can face prolonged stagnation even when retaining considerable absolute wealth.
The data underscores a profound global economic shift over the past quarter-century: emerging markets with young populations, expanding industrial bases, and untapped resources have increasingly narrowed the gap with — or even surpassed — traditional economic leaders, reshaping the balance of global economic power within the G20 framework.
