Indonesia Trade Trends May 2024

According to data released by Statistics Indonesia, the country’s exports rose 2.8 per cent to USD 22.3 billion in May 2024, while imports fell 8.8 per cent to USD 19.4 billion in the same period, resulting in a trade surplus of USD 2.9 billion.

In the first five months of the 2024, the trade balance registered a surplus of USD 13 billion, while exports and imports decreasing by 3.5 per cent and 0.4 per cent, respectively.

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, 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.