Indonesia Trade Trends June 2024

According to data released by Statistics Indonesia, the country’s exports rose by 1.2 per cent on a yearly basis to USD 21 billion in June 2024, while imports grew by 7.6 per cent to USD 18.5 billion, resulting in a trade surplus of USD 2.5 billion.

In the first half of 2024, Indonesian exports stood at USD 125 billion, down 2.8 per cent from the same period in the previous year, while imports reached USD 110 billion in the same period, an increase of 0.8 per cent, representing a trade surplus of USD 15 billion.

From January to June 2024, China was the main importer of Indonesia's non-oil and gas commodities, reaching USD 32 billion, followed by Japan at USD 6.5 billion, and Thailand at USD 4.87 billion.

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.