The Ministry of Industry (Kemenperin) recorded the chemical industry export value at USD 17.39 billion or around IDR 284.3 trillion (assuming an exchange rate of IDR 16,350) in 2024. This achievement not only shows the growth of the chemical industry, but also the pharmaceutical sector. Director General of the Chemical, Pharmaceutical and Textile Industry (IKFT) Taufiek Bawazier said that the chemical, pharmaceutical and traditional medicine industry sector group grew by 5.86% in 2024. This figure exceeds economic growth which reached 5.03%.
However, Taufiek said the chemical sector requires an integrated petrochemical and energy ecosystem. With this ecosystem, he believes that domestic chemical sector production is competitive. To further spur the performance of this chemical industry, our challenge is that Indonesia needs to grow an integrated petrochemical and energy sector ecosystem so that it can be more competitive," said Taufiek in his statement, quoted Sunday (3/16/2025). In addition, the Ministry of Industry also noted that the realization of chemical industry investment throughout 2024 reached IDR 65.76 trillion. To encourage investment realization, the Ministry of Industry is also implementing a petrochemical industry investment facilitation policy program such as in Teluk Bintuni, Tanjung Enim, and East Kutai. He emphasized that the performance of the chemical industry will also contribute significantly to the government's target of achieving national economic growth of 8% in the next five years. "To achieve this target, the IKFT sector, which includes the role of the chemical industry, will contribute added value of IDR 46.09 trillion in 2029," he concluded.
