Latest reading: Merchandise exports were broadly stable in June, falling just 0.1% year-on-year, following May’s 2.2% fall. Meanwhile, merchandise imports...
Merchandise Exports in Indonesia
Merchandise exports were worth USD 262 billion in 2024 in Indonesia compared to USD 175 billion ten years earlier, and averaged USD 200 billion over the last decade. For more exports information, visit our dedicated page.
Indonesia Merchandise Exports Chart
Note: This chart displays Exports (USD billion) for Indonesia from 2019 to 2024.
Source: Macrobond.
Indonesia Merchandise Exports Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Merchandise Exports (USD bn) | 163 | 233 | 293 | 258 | 262 |
| Merchandise Exports (ann. var. %) | -3.0 | 42.5 | 25.6 | -11.9 | 1.6 |
Merchandise export growth surges in May
Latest reading: Merchandise exports climbed 9.7% over the same month last year in May (April: +5.1% year-on-year). Meanwhile, merchandise imports increased 2.8% over the same month last year in May (April: +22.8% yoy). As a result, the merchandise trade balance improved from the previous month, recording a USD 4.9 billion surplus in May (April 2025: USD 1.0 billion surplus; May 2024: USD 3.3 billion surplus). Lastly, the trend improved, with the 12-month trailing merchandise trade balance recording a USD 42.7 billion surplus in May, compared to the USD 41.1 billion surplus in April.
Panelist insight: United Overseas Bank’s Enrico Tanuwidjaja and Vincentius Ming Shen said: “We expect trade surplus to moderate this year to USD28bn, down from USD31bn last year, USD36.9bn in 2023, and off record high of USD54.5bn back in 2022. Uncertainty arising from the reciprocal tariffs will likely affect external demand which will lead to slower export growth. On the other side, import may increase due to possibly Indonesia-US negotiations and risks of exportation of excess inventories from China.”
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indonesian merchandise exports projections for the next ten years from a panel of 14 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable merchandise exports forecast available for Indonesian merchandise exports.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indonesian merchandise exports projections.
Want to get access to the full dataset of Indonesian merchandise exports forecasts? Send an email to info@focus-economics.com.
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