Indonesia eyes 7.1% export growth in 2025

Indonesia targets nearly $294.5 billion in exports this year to push the country’s economy towards a growth target of 8% set by President Prabowo Subianto.

Prabowo is upbeat that the Indonesian economy can expand 8% within the first year of his term, topping the country’s 5% growth rate over the past years. This ambitious goal translates into yearly export target increases.

Indonesia is eyeing $294.5 billion in exports in 2025, up by 7.1% year-on-year from the $274.9 billion yearly export baseline in 2024.

Given the current global economic situation, Indonesia's GDP growth target, the rupiah-dollar exchange rate and global commodity prices, the country's 2025 export target is appropriate, Trade Minister Budi Santoso said on Monday.

Southeast Asia's largest economy plans to raise its export target by nearly 7.1% year-on-year in 2026, to $315.3 billion. The target will soar 7.9% to $340.2 billion in 2027, and almost 8.8% to $370 billion the following year.

The current Prabowo government also intends to wrap up its final year in office with a $405.7 billion export in 2029, marking a 9.6% year-on-year growth compared to the 2028 target.

Indonesia also wants to have more of its micro, small and medium enterprises (MSMEs) - which make up about 61% of the national GDP - penetrate into the international market. In 2025, it has set an export target of $19.3 billion for its MSMEs. By 2029, these businesses should post approximately $35.3 billion in exports, according to Budi.

Government data showed Indonesian exports totalled about $241.3 billion in the first 11 months of 2024. The country's non-oil and gas sector contributed $226.9 billion with mineral fuels making up 15.9% of the exported goods. China remained Indonesia's top destination for non-oil and gas exports, reaching $54.4 billion over the reviewed period.

At present, Indonesia has 19 bilateral and multilateral free trade deals which have provided the country with better market access to the Association of Southeast Asian Nations (ASEAN), China, Australia, and Japan, among others.