Quaterly Analysis of Indonesia Trade Data

Indonesia is also known as “The Republic of Indonesia”. It is an island nation and is situated in the Southeastern part of Asia and Oceania. This nation is considered the world’s biggest Archipelagic country and the 14th biggest in terms of land area. Indonesia shares its territorial and maritime boundaries with multiple nations such as New Guinea, Malaysia, Singapore, Vietnam, India, etc.

The primary industries here are crude oil, cotton, natural gas, tourism, and fishing. From the beginning, the primary export products from Indonesia are palm oil and coal briquettes whereas, the major imports to the nation are crude oil, telephones, automobiles, and wheat. The country is dominated by private and government sectors and is the only Southeast Asian nation that is a part of G20.

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PAST 5 YEARS TREND

QUARTER WISE TRADE STATISTICS OF INDONESIA

CONCLUSION: Imports: Q1 (2022) > Q1 (2023) | Exports: Q1 (2022) < Q1 (2023)

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TRADE FORCAST OF INDONESIA TRADE DATA

Being one of the most active participants in the global trade market, Indonesia is expected to boost its trade and take its trade data to the next level within a few years. It is also forecasted that the Q1 of 2024 would decline a bit but that fall would get recovered in the following three quarters. The country would be able to maximize its exports while minimizing its imports significantly in the coming years and hence, will be successful in maintaining a greater trade surplus than in 2023.

The economy of Indonesia is the 6th largest economy in the world and due to the consistent behavior of the nation, it is estimated that the rankings of the nation would also increase and become more attractive.