Indonesia Trade Trends 2023

According to data released by Statistics Indonesia on January 15, 2024, the country’s exports fell 11.3 per cent to USD 259 billion in 2023, while imports declined 6.5 per cent to USD 222 billion, recording a trade surplus, for the fourth consecutive year of USD 37 billion.

In December alone, exports from Indonesia decreased 5.7 per cent from a year earlier to USD 22 billion, while imports dropped by 3.8 per cent from a year earlier to USD 19 billion, posing a trade surplus for Southeast Asia's largest economy of USD 3 billion.

Throughout 2023, Indonesia had trade surpluses with 177 countries and deficits with 69 out of a total of 246 trading partners.

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.