Expanding into the Federal Republic of Indonesia will take foreign investors into the largest economy in Southeast Asia. Indonesia is confidently predicted to climb the global Gross Domestic Product (GDP) rankings from the 16th place it occupied in 2022, when the World Bank assessed its nominal GDP at 1,380 billion US dollars.
Indonesia, an archipelago of close to 18,000 islands that stretch over 3,000 miles east to west and 1,000 miles north to south, is recognised as a rapidly industrialising market economy. Strong domestic demand in a population of 275 million drives growth, which to an extent insulated the country against economic downturns that affected other countries. Indonesia ranks 10th in the world for GDP purchasing power parity.
Bank Indonesia, the country’s national bank, predicted a 5.3% growth in the economy for 2023, among the highest for G20 members.