Indonesia’s export performance soared in 2024, achieving a total value of USD 241.25 billion from January to November, reflecting a 2.06% increase compared to the previous year. According to Trade Minister Budi Santoso, the non-oil and gas sector played a pivotal role, with the manufacturing industry contributing 78.86% of non-oil and gas exports. Indonesia’s top export destinations included China, the United States, India, Japan, and Malaysia, underscoring the nation’s growing competitiveness in global trade. “Government efforts to enhance the value-added of products have yielded positive results, with Indonesian manufacturing exports increasingly favored in global markets,” Budi noted on Monday (6/1/2025).
The minister highlighted the rising prominence of processed industrial products in Indonesia’s export portfolio, as the oil and gas sector's role continues to decline. He also expressed optimism about the country’s trade prospects despite global challenges. Indonesia managed to keep inflation stable at 1.5%-3.5% in 2024, ensuring robust purchasing power. Looking ahead, Budi projected a stable economic growth rate of 5.1%-5.2% for 2025, with the government targeting an ambitious 8% growth rate by 2029. These achievements and targets reflect Indonesia's growing confidence in strengthening its position in the global economy.
