![]() Jakarta, the financial centre of Indonesia | |
Currency | Rupiah (IDR, Rp) |
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Trade organizations | APEC, WTO, G-20, IOR-ARC, RCEP, AFTA, ASEAN, EAS, ADB, others |
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Statistics | |
Population | ![]() |
GDP | |
GDP rank | |
GDP growth | |
GDP per capita | |
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GDP by sector |
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Population below poverty line | ![]()
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Labour force | |
Labour force by occupation |
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Unemployment | ![]() |
Main industries | palm oil, coal, petroleum, petrochemicals, liquified natural gas, vehicle, electronics, transportation, machinery, steel, telecommunications, electric power, food processing, wood industry, textile, footwear, consumer goods, integrated circuits, medical equipment, optical devices, paper, handicrafts, chemicals, rubber, pharmaceuticals, financial services, seafood, smelting, and tourism |
External | |
Exports | $298.2 billion (2023)[20] |
Export goods | Palm oil, Steel, Metal, Machinery and Industrial equipment, Chemicals products, Liquefied natural gas, Textiles products, Footwear products, Automobiles, Transportation products, Wooden products, Plastics |
Main export partners |
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Imports | $268.3 billion (2023)[22] |
Import goods | Machinery and Industrial equipment, Steel, Foodstuffs, Petroleum products, Electronics, Raw material, Chemicals products, Transportation products |
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FDI stock | |
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Gross external debt | ![]() |
Public finances | |
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−0.89% (of GDP) (2024 est.)[26] | |
Revenues | $182.1 billion (2024 est.)[27] |
Expenses | $216.1 billion (2024 est.)[27] |
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All values, unless otherwise stated, are in US dollars. |
The economy of Indonesia is a mixed economy with dirigiste characteristics,[34][35] and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country.[36] Indonesia nominal GDP reached 20.892 quadrillion rupiah ($1.371 trillion) in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025.[37] Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises). The administration of prices of a range of basic goods (including rice and electricity) also plays a significant role in Indonesia's market economy. However, since the 1990s, the majority of the economy has been controlled by individual Indonesians and foreign companies.[38][39][40]
In the aftermath of the 1997 Asian financial crisis, the government took custody of a significant portion of private sector assets through the acquisition of nonperforming bank loans and corporate assets through the debt restructuring process, and the companies in custody were sold for privatization several years later. Since 1999, the economy has recovered, and growth accelerated to over 4–6% in the early 2000s.[41] In 2012, Indonesia was the second fastest-growing G-20 economy, behind China, and the annual growth rate fluctuated around 5% in the following years.[42][43] Indonesia faced a recession in 2020 when the economic growth collapsed to −2.07% due to the COVID-19 pandemic, its worst economic performance since the 1997 crisis.[44]
In 2022, gross domestic product expanded by 5.31%, due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices.[45]
Indonesia is predicted to be the 4th largest economy in the world by 2045. Joko Widodo has stated that his cabinet's calculations showed that by 2045, Indonesia will have a population of 309 million people. By Widodo's estimate, there would be economic growth of 5−6% and GDP of US$9.1 trillion. Indonesia's income per capita is expected to reach US$29,000.[46]