Indonesia

Indonesia GDP per Capita

*Update in April, October each year*

With a population of more than 270 million, Indonesia is the fourth most populous country in the world. According to the International Monetary Fund (IMF), Indonesia's GDP per capita reached US$4,942 in 2023, increasing by 3% year-on-year. Indonesia's GDP per capita exceeded US$4,000 in 2019. However, affected by the COVID-19 epidemic, the country’s GDP per capita fell below US$4,000 again in 2020. As the overall economy gradually recovered, the IMF forecast that Indonesia's GDP per capita is expected to exceed US$5,000 and increase to US$5,271 in 2024.

Indonesia CPI

*Update in April, October each year*

The consumer price index (CPI) of Indonesia is a measure of the price change in a selected basket of goods and services typically purchased by Indonesian households. The index covers only the urban areas, and classified into major groups including food and processed foods, beverages and tobacco, housing, clothing, health, education and sport as well as transportation and communication.

According to Statistics Indonesia (BPS), Indonesia's consumer price index increased by 2.97% year-on-year in December 2023. As prices of products and services continued to rise, Indonesia's inflation rate in 2023 was recorded at 2.61%, which however was within the target range of 3% plus or minus one percentage point set by the Indonesia government. The Coordinating Ministry for Economic Affairs indicated that the Indonesia government is expected to keep the inflation rate at 2.5% plus or minus one percentage point in 2024, but also noted that the goal might be affected by risks resulted from geopolitical conflicts and El Niño phenomenon.

Indonesia PPI

*Update in April, October each year*

Producer price index (PPI) in Indonesia measures the level of selling prices of domestic producers for the goods and services provided during a given period. The index is calculated based on data in sectors including agriculture, mining and quarrying, manufacturing, utilities as well as all producer units for wholesale trade activity.

Indonesia's producer price index continued to rise in 2023, with the index reaching 117.46 in December 2023. The overall index maintained the upward trend in the first quarter of 2024 with the PPI recorded at 119.41 in March 2024.

Indonesia FDI

*Update in April, October each year*

According to Indonesia Ministry of Investment/Indonesian Investment Coordination Board (BKPM), Indonesia continued to set new record, posting its 2023 foreign direct investment (FDI) amount at Rp 744 trillion (US$50.26 billion), which also represented a year-on-year growth of 13.7%.

The top five industry sectors receiving FDI capitals in 2023 were metal/metal goods (except machinery), transportation/telecommunication, chemical and pharmaceutical industry, mining, and paper and printing industry. In terms of regions, West Java province had been the number one destination for FDI in 2023 with Central Sulawesi and North Maluku ranking at second and third places.

Singapore remained as the country’s top investor with total FDI amount reaching US$15.4 billion. China was the second-largest investor, registering its investment amount at US$7.4 billion. Hong Kong ranked third with overall investment of US$6.5 billion. Japan and Malaysia came in at fourth and fifth places with investments reaching US$4.6 billion and US$4.1 billion, respectively.

Indonesia International Trade

*Update in April, October each year*

According to Statistics Indonesia (BPS), Indonesia’s overall export value reached US$258.8 billion in 2023, seeing a year-on-year decrease of 11.3%. Export value of non-oil-and-gas sector was recorded at US$242.8 billion, and the top five destination markets for the sector were China, the United States, India, Japan and the Philippines.

Indonesia's overall import value in 2023 was close to US$221.9 billion, a decline of 6.6% when compared with the previous year. Import value of non-oil-and-gas sector reached US$186 billion, and the top five countries which Indonesia imported its non-oil-and-gas products were China, Japan, Thailand, South Korea, and the United States.