Indonesia Trade Trends August 2024

According to data from Statistics Indonesia, the country’s exports rose by 7.1 per cent on a yearly basis to USD 23.5 billion in August 2024, while imports grew by 9.5 per cent to USD 20.7 billion.

Indonesia is the largest global exporter of thermal coal, palm oil, and nickel metals, and a significant exporter of various other commodities. Since April, the country’s exports have increased year-over-year each month, rebounding after a period when export values experienced steep declines.

Boosting the August figures was a 9.7 per cent annual increase in coal shipments, and the rise of 8.7 per cent exports of manufactured goods.

Indonesia exported the most to China, with an estimated turnover of USD 67.7 billion, followed by the United States with USD 31.6 billion and Japan with USD 26.6 billion.

The Association of Southeast Asian Nations (ASEAN) is a political and economic union of ten members, has 667 million people and a territory of 4.5 million Km2; 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.