Market update – Indonesia
Indonesia is the largest economy in South-East Asia and the fourth most populous country in the world. The large domestic market, combined with estimates putting the growing affluent middle-classes at around 45 million, makes the country an attractive prospect to many UK manufacturers. In 2011 it was the 27th biggest export market outside the EU by value.
Indonesia has posted solid growth over the past couple of years and forecasts suggest that this is set to continue, even slightly outpacing emerging economies as a whole in 2012 and 2013.
Manufactured goods make up 53.5% of Indonesia’s imports. UK exports to Indonesia hit £630.9 million in 2011 – an increase of just over 40% in a year.
Top-performing expert sectors by value from the UK to Indonesia include road vehicles and sectors specialising in machinery – unsurprising given the make-up of Indonesia’s manufacturing base. A wide range of sectors make up the top five sectors that saw the biggest growth in exports in 2011, from non-ferrous metals to electrical machinery. The export of road vehicles makes it into the top five for both value and growth.
This article is taken from EEF’s ‘Export Insights’ October 2012 publication.
Topics: Insights & Statistics