Mumbai, 20 December 2024 – Rubix Data Sciences has released its latest Rubix Industry Insight—Indonesia, offering an in-depth analysis of Indonesia’s vibrant economic landscape, trade relations, sectoral developments, and infrastructure projects. The report is packed with actionable insights and critical data for decision-makers worldwide.
Key Highlights from the Report:
Economic Resilience Amid Global Challenges
Indonesia’s GDP growth is expected to sustain at 5.1% in 2025, signalling robust growth driven by targeted investments, trade expansion, and value-added policies. Inflation, a critical marker of stability, has been effectively contained, with a record low of 1.71% in October 2024.
Global Nickel Leader
Indonesia is on track to supply a staggering 62% of the world’s nickel by 2028. With this, it is also aiming to cement its status as a key player in Electric Vehicle (EV) and battery manufacturing, as nickel is a key component in these industries. Strategic export bans on raw nickel and bauxite have attracted over USD 30 billion in investments, primarily from China, driving a surge in domestic value addition.
53 Months of Trade Surplus
Indonesia recorded its 53rd consecutive monthly trade surplus in September 2024, showcasing exceptional trade management. Non-oil and gas exports—led by mineral fuels, vegetable oils, and iron and steel—continue to dominate, even as global commodity price fluctuations demand diversification.
Sustainability at the Core
With a 75% reduction in deforestation since 2019, bold green energy projects, and the ambitious Vision 2045 plan, Indonesia is balancing industrialisation with sustainability to secure its place as a global leader in climate-conscious economic growth.
India-Indonesia Relations: A Growing Strategic Partnership
Bilateral trade between India and Indonesia reached USD 29.4 billion in FY2023-24, with Indonesia ranking as India’s 8th largest trading partner. India is Indonesia’s second-largest buyer of coal and crude palm oil, highlighting the strategic importance of this partnership.
- India’s exports to Indonesia totalled USD 5.99 billion in FY2024, with mineral fuels and vehicles among the top traded goods.
- Indonesia’s investments in India, cumulatively valued at USD 653.83 million, span sectors such as automotive, pharmaceuticals, and banking.
- Collaborative initiatives, including energy and technology agreements, further deepen ties, paving the way for mutual growth.
What Does This Mean for Businesses?
The report identifies Indonesia as a land of unparalleled opportunity. From its burgeoning EV sector to policy reforms fostering foreign investment, businesses can capitalise on Indonesia’s strategic initiatives to expand their global footprint.
“Indonesia’s economic evolution is a story of resilience, agility, and strategic policy”, said Mohan Ramaswamy, Co-founder & CEO of Rubix Data Sciences. “This report provides the roadmap businesses need to navigate and succeed in one of Southeast Asia’s most promising markets and ASEAN’s largest economy.” he added
