How About Indonesia Import Market?

tendata blogMarket Insights

ten data blog28-03-2024

Indonesia, abbreviated as "IDN," ranks fourth globally in terms of population and stands as the largest economy in Southeast Asia, with a GDP exceeding $1 trillion, ranking 17th globally. It serves as a crucial trade hub connecting the regions of Asia and Oceania.

According to official Indonesian data, in just the first half of 2023, China ranked as Indonesia's second-largest source of foreign investment, with an investment of $3.8 billion, second only to Singapore ($7.7 billion). Over the past three years, China has conducted trade transactions with Indonesia as many as 1,011,739 times, showing a consistent upward trend annually.

In recent years, e-commerce has experienced explosive growth in the Indonesian market. In 2022, Indonesia emerged as the largest e-commerce market in Southeast Asia, with e-commerce sales reaching $80.95 billion, accounting for 28.5% of the local retail total. By 2026, Indonesia's e-commerce sales are projected to reach $130.3 billion, with e-commerce sales accounting for 36.5% of the retail total.

The Indonesian market exhibits significant demand for electronic products, fashion apparel, household items, as well as food and beverages, garnering substantial interest from consumers.

Since joining the ASEAN Free Trade Area (AFTA) and the Regional Comprehensive Economic Partnership (RCEP) in 2022, Indonesia has actively promoted free trade policies, strongly supporting foreign entrepreneurs. The "New Investment List" outlines 245 "priority sectors," with 183 investment areas eligible for tax incentive subsidies, 18 for income tax exemption incentives, and 44 for investment allowance incentives. Industries included in the "priority sector" category for development investment can enjoy fiscal incentives, including exemptions from investment income tax, corporate income tax, and tariff preferences.

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Over the past three years, Indonesia's imports from the global market have seen significant rankings in products such as wheat and sugar for food, 3C products like laptops, and cotton for apparel.

In 2023, China's exports to Indonesia encompassed popular products such as metals, construction materials, 3C products like smartphones, dyed fabrics and footwear, as well as toys.

The exclusive Indonesian data available on Tendata, including merchant information, product details, pricing information, logistics data, etc., holds significant importance for the development and analysis of the Indonesian market. Through eight steps including market analysis, customer profiling, lead generation, customer background checks, customized strategies, establishing connections, business negotiations, and customer management, Tendata provides digital precision marketing solutions to help businesses accurately position themselves in the market and discover new opportunities.

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