Palm oil exports play an important role in the growth of the Indonesian economy (above, a plantation in Meulaboh, Aceh province, in March 2019). CHAIDEER MAHYUDDIN/AFP
DECRYPTION – Southeast Asia’s largest economy is posting a record trade surplus and strong growth.
In the difficult context of the pandemic and the war in Ukraine, some are doing better than others, and even benefiting from it. This is the case of Indonesia. The GDP of the main economy of Southeast Asia climbed in 2022 by 5.3%, its strongest increase since 2013, without experiencing a surge in inflation. Its trade surplus, up 54%, reached a record level of $54.5 billion.
The pandemic had affected the fourth most populous country in the world with 276 million inhabitants. Highly dependent on its exports and tourism, it suffered a recession in 2020 and rebounded 3.7% in 2021. The World Bank forecasts GDP growth of 4.8% this year. This rather politically stable country, which last year chaired the presidency of the G20, the group of major world economies, is once again taking advantage of its strengths. In 2022, Jakarta benefited in particular from soaring commodity prices. Since the opening of China, there are a few…
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