Indonesia market profile

Indonesia is the largest economy in Southeast Asia, and the 16th largest economy in the world, with expectations that it is a top 10 economy by 2030.  

Indonesia’s economy will continue to evolve over the next few years into a modern economic powerhouse.

Demand for imported goods and services will evolve as the country develops and its middle class grows. Already, private consumption makes up 56% of Indonesia’s GDP.

In 2023-24 Indonesia was Queensland’s 11th largest merchandise trading partner, with coal and meat as Queensland’s top merchandise export commodities. Indonesia’s proximity and projected economic development will make it a strong trading partner for Queensland in the future. 

Currently, Australia is Indonesia’s 8th main source of imports, behind China, Singapore, Japan, the United States of America, and Malaysia.

Indonesia’s proximity to Queensland, demographics and ambitious development plans offer significant opportunities for Queensland companies.

Current in-demand services such as project financing, design and management of infrastructure projects will change in 5 to 10 years to include personal financial services.

Health care will change from the provision of basic public hospital infrastructure to more specialist private healthcare delivery.

The middle class will also increasingly demand more ‘quality of life’ services, including education, health care, financial and business services, and recreation and leisure services.

The Indonesia–Australia Comprehensive Economic Partnership Agreement (IA-CEPA) entered into force on 5 July 2020. Under IA-CEPA, 99% of Australian goods (by value) will enter Indonesia duty-free or under improved preferential arrangements. Service sectors to receive a boost include education and training, tourism, financial, mining and energy.