Average wholesale price index (WPI) in Jakarta, Indonesia in 2023, by sector. Monthly retail sales index in Jakarta, Indonesia from 2021 to 2024. Year-on-year (YoY) growth rate of the monthly. Contact online >>
Average wholesale price index (WPI) in Jakarta, Indonesia in 2023, by sector. Monthly retail sales index in Jakarta, Indonesia from 2021 to 2024. Year-on-year (YoY) growth rate of the monthly...
In this article, we will be delving into the top 11 market trends in Indonesia, all depicted in easy-to-understand charts. As a rising marketing agency in Asia, we''re committed to helping businesses successfully navigate and capitalize on the opportunities this dynamic market has to offer.
Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Indonesia. Includes comprehensive data and analysis, tables and charts, with five-year forecasts.
The bi-yearly Greater Jakarta industrial market overview analyzes knightfrank .id/research latest development trends, provides insights and tracks market dynamics of land sales in major industrial estates located in areas of Jakarta, Bogor, Depok, Tangerang, Bekasi and Karawang.
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In 2022, the wholesale and retail trade industry contributed 17.39 percent to the
Indonesia Investments Report - October 2024Edition
11 November 2024 (closed)
Jakarta Composite Index (7,266.46)-20.73 -0.28%
GDP Growth Q3-20244.95%(y/y)
Inflation October 2024 1.71% (y/y)
Welcome to AJ Marketing''s latest insight on the vibrant Indonesia market! Indonesia is an emerging economic powerhouse with a rapidly growing middle class, widespread digital adoption, and a flourishing entrepreneurial ecosystem. This unique blend of factors has made it a key player in Southeast Asia''s evolving business landscape.
To give you a comprehensive understanding of Indonesia''s market trends, we''ve broken down our insights into three key sections: Population Essentials, Business Essentials, and Digital Connectivity Essentials.
So, buckle up and join us on this exciting journey as we explore the diverse and promising Indonesian market!
Indonesia Market Trends in Charts:
At AJ Marketing, we understand that a strong consumer base is crucial for businesses looking to tap into new markets. In the case of Indonesia, its population has been experiencing steady growth over the past several years, as shown in the chart above.
From January 2015 to January 2023, Indonesia''s population has grown from 258 million to 276 million, marking an increase of approximately 7%. This consistent growth not only signals a stable environment for businesses but also offers an expanding pool of potential customers. The increase in population, coupled with the country''s rising middle class, makes Indonesia an attractive market for both local and international businesses to explore and target.
As the fourth most populous country in the world, Indonesia''s diverse and growing population presents numerous opportunities for businesses across various industries. This steady population growth ensures that the market remains dynamic and full of potential. With this in mind, it is crucial for businesses to understand and adapt to the ever-changing preferences and needs of the Indonesian consumer base in order to achieve success in this thriving market.
At AJ Marketing, we''ve carefully dissected the recent import data from Indonesia. The total import value for the first quarter of 2023 reached a staggering $54.95 billion. This isn''t surprising, considering the rising global commodity prices and the demand recovery in the wake of the pandemic.
When we look at the main non-gas and oil products that Indonesia imports, mechanical and electrical machines/equipment top the list, with $7.41 billion and $6.85 billion respectively. Iron and steel follow at $2.96 billion, with plastics and articles at $2.32 billion and cereals rounding off the top five at $1.36 billion. This diverse set of imported goods indicates the varied industries that are thriving in Indonesia, hinting at the vast potential of this market.
Furthermore, when classified by type of goods, auxiliary raw materials dominated the imports with $40.79 billion, signifying the importance of Indonesia''s manufacturing sector. Meanwhile, capital goods followed at $9.44 billion, reflecting the ongoing investments in infrastructure and technology. Lastly, the import of consumption goods stood at $4.72 billion, underscoring the increasing purchasing power of the Indonesian consumer market. This data paints a vivid picture of Indonesia''s robust and growing economy, offering significant opportunities for businesses seeking to penetrate this burgeoning market.
We''ve looked at the export performance of Indonesia for March 2023. The country managed to amass an impressive $23.5 billion in export value. This signifies a robust and thriving export industry, driven by the strong global demand for Indonesia''s diverse products.
Diving into the specifics, we find that the top five non-gas and oil products exported by Indonesia include mineral fuel at $4.55 billion, iron and steel at $2.29 billion, animal/vegetable fats and oils at $2.21 billion, machine and electrical equipment at $1.27 billion, and precious metal and jewelry at $1.1 billion. This diverse export portfolio is an indicator of the broad range of sectors that are performing well in Indonesia, hinting at the significant opportunities for local and foreign investors alike.
Furthermore, when we classify exports by the class of goods, we see a significant representation from the mining sector with $16.62 billion, followed by processing at $5.15 billion, and oil and gas at $1.34 billion. This data indicates the strength of Indonesia''s primary sectors, particularly mining, but also highlights the growing importance of manufacturing and processing industries. Understanding this dynamic and growing export market can offer valuable insights for businesses planning to explore or expand their operations in Indonesia.
At AJ Marketing, we''re thrilled to highlight the booming tech scene in Indonesia. As of August 2022, Indonesia was home to two decacorns, GoTo and J&T Express, with the latter having a staggering $20B valuation.
In the unicorn arena, Traveloka, Ovo, Akulaku, Dana, Xendit, Ajaib, Kopi Kenangan, and Tiket have all crossed the billion-dollar mark, with Bukalapak also joining the prestigious club through its IPO. This vibrant ecosystem of high-value tech start-ups underlines Indonesia''s rapidly evolving digital economy, presenting exciting opportunities for investors and businesses alike.
In 2022, we observed that venture investments in Indonesia presented a diversified portfolio, indicating the attractiveness of the country''s different sectors to international investors. The trade and repair sector dominated the investment scene with IDR 14.674 trillion, followed by other services at IDR 10.464 trillion. The hospitality sector, including hotels and restaurants, also attracted a considerable IDR 7.147 trillion.
Investments in real estate, specifically housing, industrial, and office areas, amounted to IDR 4.268 trillion. The food industry and the chemical and pharmaceutical industry followed closely with IDR 3.786 trillion and IDR 2.450 trillion, respectively. Investments in transportation, warehousing, and telecommunications, as well as in crops, plantation, and livestock, both crossed the IDR 2 trillion mark.
Finally, the machine industry and the basic metal industry also made the list, showcasing the vast array of opportunities that Indonesia offers to businesses and investors from various sectors. The data underscores Indonesia''s strong and diverse economy, making it an attractive destination for venture investments.
At AJ Marketing, we''ve examined the e-commerce transactions in Indonesia for 2021. Notably, credit and vouchers led the pack, making up 23.4% of transactions, followed by fashion & accessories at 17.3%. Health & beauty and household appliances were also in demand, accounting for 13.9% and 10.5% of transactions respectively.
Other popular categories included food, sports/toys/hobbies, gadgets & accessories, automotive, baby & children equipment, and office & study tools. This diversity signifies the growing consumer appetite for online shopping across various sectors in Indonesia, making it an exciting market for e-commerce.
We''re excited to spotlight the meteoric rise in the value of e-commerce transactions in Indonesia. From Rp 105.6 trillion in 2018, it is expected to more than quadruple to an estimated Rp 689 trillion in 2024. This exponential growth, particularly the jump from Rp 266.3 trillion in 2020 to Rp 401 trillion in 2021, underscores the digital transformation of Indonesia''s economy. The trend showcases the accelerating shift of consumers towards online shopping, offering immense growth potential for businesses in the e-commerce sector.
The number of cellular mobile connections is a strong indicator of the degree of digital connectivity in a country. In Indonesia, our analysis reveals that mobile connections have been consistently increasing over time, with some fluctuations.
In January 2021, there were 354 million mobile connections in Indonesia, and this number grew to 372 million by April 2022. However, there was a slight dip in the following months. These fluctuations might be attributed to seasonal changes, consumer behavior, or changes in mobile network providers'' offerings.
Despite these variations, the overall trend indicates a growing number of mobile connections in Indonesia, providing businesses with an expanding digital infrastructure to engage with customers and deliver services through mobile channels. For businesses, this presents an opportunity to leverage mobile channels for marketing, communication, and service delivery, making it essential to consider mobile strategies when planning to enter or expand within the Indonesian market.
The number of internet users is a crucial indicator of a country''s digital landscape and its potential for online business opportunities. In Indonesia, the number of internet users has grown dramatically over the past eight years.
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