In 2023, Indonesia’s non-oil and gas processing industry significantly contributed to the national export value, with the manufacturing sector reaching an impressive $186.98 billion. This figure accounts for 72.24% of the national export value of $258.82 billion, showcasing the sector’s dominant and consistent performance in a globally unstable economic climate.
Indonesian Minister of Industry Agus Gumiwang Kartasasmita announced that the manufacturing export figures for January-December 2023 exceeded the set targets, reflecting the competitiveness and global recognition of Indonesian manufactured products.
2023’s manufacturing exports surpassed the projected $186.40 billion, reaching $186.98 billion, with a target of $193.4 billion set for 2024.
Key contributing sectors to this export achievement include basic metal industries, food industries, chemical materials and products, motor vehicles, trailers and semi-trailers, computers, electronics and optics, as well as paper industries.
The manufacturing trade balance continued its surplus trend from 2022, contributing a significant $17.39 billion surplus to the national economy.
Indonesia, as reported by Safeguard Global, ranks among the top ten global manufacturing contributors, the only ASEAN country on the list, holding 1.4% of the global manufacturing product share.
The main export markets for Indonesian manufacturing products in 2023 were China (23.60%), the United States (12.25%), and India (6.33%).
Indonesia’s robust manufacturing export performance signals a thriving economic environment conducive for business and investment. This growth presents opportunities for enhanced trade partnerships and market expansion in the region.
Indonesia’s manufacturing sector demonstrated a strong performance in 2023, dominating the national export landscape with a total value of $186.98 billion, contributing to a significant trade surplus. The sector’s resilience in the face of global economic challenges and its ascent in global manufacturing rankings underscores its pivotal role in the national economy. This trend is set to continue, with ambitious targets and strategic policy measures in place for 2024.
Source: Batam Today, Press Release (2024)
