ICT, travel and tourism, transport, insurance & finance, palm oil, machinery, coal, automotive, rubber, electronics, chemicals, metals, gold, agriculture and textiles are major industries of Indonesia.
In 2020, Services industry exports was valued at USD 15 billion for Indonesia. Electronics export accounted for USD 9.62 billion, machinery for USD 7.67 billion, vehicles for USD 7.20 billion, chemicals for USD 15.2 billion, metals for USD 16.3 billion, minerals for USD 29.7 billion, stones for USD 9.23 billion, textiles for USD 17.3 billion and agriculture for USD 49.4 billion in 2020.
The largest economy in Southeast Asia, Indonesia – a diverse archipelago nation of more than 300 ethnic groups -- has charted impressive economic growth since overcoming the Asian financial crisis of the late 1990s. The country’s GDP per capita has steadily risen, from $857 in the year 2000 to $3,877 in 2018. Today, Indonesia is the world’s fourth most populous nation, the world’s 10th largest economy in terms of purchasing power parity, and a member of the G-20. An emerging middle-income country, Indonesia has made enormous gains in poverty reduction, cutting the poverty rate to more than half since 1999, to 9.8% in 2018.
Indonesia had population of 272.249 million in the year 2021 and expected to reach 287.285 million by 2027, growing at a CAGR of 0.90%.
Indonesia’s real gross domestic product (GDP) was IDR 1,07,23,054.80 billion in 2020 and while recovering from the COVID-19 impact it increased by 3.56% to be around IDR 1,11,18,868.50 billion in 2021. It is further expected to increase by 5.50% and reach IDR 1,53,35,494.46 billion by 2027.
Indonesia’s unemployment rate was 6.49% of total labor force in 2021. It is expected to decrease by 3.94% and reach 5.1% by 2027.
Indonesia’s per capita GDP was USD 4,356.56 whereas purchasing power parity (PPP) based per capita GDP was USD 13,099.37 for the year 2021.
In 2021, Indonesia government’s revenue was IDR 23,07,072.59 billion whereas the expenditure was IDR 30,90,777.29 billion. This resulted in Indonesia government’s net lending / borrowing negative at IDR 7,83,704.70 billion in 2021 indicating that not enough financial resources were made available by the Indonesia government to boost economic growth.
The current account balance for Indonesia was positive at USD 3.326 billion for the year 2021 and is expected to decrease and reach negative USD 28.066 billion by 2027. This negative current account balance indicates that Indonesia will become a net borrower from the rest of the world by 2027.
*If Applicable.