Indonesia Trade Trends 2024

According to data from Statistics Indonesia, the country’s exports expanded by 4.8 per cent to USD 23.5 billion in December 2024, while imports grew by 11.1 per cent to USD 21.1 billion.

Southeast Asia’s largest economy posted a trade surplus of USD 2.4 billion in December, marking the 56th consecutive month of recording a trade surplus.

Cumulatively, during 2024, Indonesia’s exports increased by 2.3 per cent and imports grew by 5.3 per cent.

Indonesia confirmed China as the top trading partner for 2024, followed by the United States and India, with the contribution of the three reaching 44.8 per cent of the total.

In its latest outlook, the International Monetary Fund estimated Indonesia GDP growth rate to be 5 per cent in 2024 and 5.1 per cent in 2025.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, comprising 667 million people and a territory of 4.5 million km². It is currently the third-largest economy in Asia-Pacific and the fifth-largest in the world. The ASEAN Economic Community (AEC) has a combined GDP of USD 4.2 trillion, according to estimates for 2024.