Indonesia

With a nominal GDP of around $1.542 trillion, Indonesia accounts for nearly half of ASEAN’s economic output. Globally, the country’s economy is the 16th largest and the 8th largest in terms of purchasing power parity (PPP).

With a median age of around 30, Indonesia’s youthful and expanding population – projected to hit 317 million by 2045 – fuels a vibrant consumer market. A burgeoning middle class, coupled with rising per capita incomes, position Indonesia as one of the world’s fastest-growing consumer bases, with an estimated 76 million additional consumers expected by 2030.

Key sectors include manufacturing (encompassing food and beverages, transport equipment and machinery), mining (rich in nickel, coal, and tin), construction and a booming transport and communications sector fueled by digitalisation. Finance and real estate also play pivotal roles, supported by Indonesia’s growing urban centres.

The government has rolled out ambitious reforms to bolster investment and competitiveness, notably through the Omnibus Law on Job Creation and downstream industrial policies targeting value-added exports like electric vehicle (EV) batteries. Infrastructure development remains a cornerstone, with large projects like the new capital city being developed in Borneo, Nusantara.