What percentage of Indonesia's trade contributes to its GDP?

03/07/2018 19:28 WIB

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Indonesia's trade-to-GDP ratio is only 35.92%, the lowest in Southeast Asia.

ASEAN Countries' Trade-to-GDP Ratio (2016)

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ASEAN Countries' Trade-to-GDP Ratio (2016)

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In the ASEAN region, Indonesia's trade-to-Gross Domestic Product (GDP) ratio is the lowest. According to ASEANSTAT data, Indonesia's trade in 2016 reached US$334.84 billion, comprising US$280.84 billion in goods trade and US$54 billion in services trade. Meanwhile, Indonesia's GDP reached US$932.3 billion. As a result, Indonesia's trade-to-GDP ratio reached only 35.92%, placing it last in Southeast Asia.

As shown in the graph below, Indonesia's trade-to-GDP ratio is lower than that of Myanmar, Laos, and the Philippines. This low ratio means that the domestic economy is not significantly influenced when the global economy improves. However, it is significantly impacted when the global economy slows down.

Meanwhile, the country with the highest trade-to-GDP ratio in ASEAN is Singapore. Singapore's international trade in 2016 reached US$935.23 billion, or 314.89% of its GDP of US$297 billion. Vietnam is second with a trade-to-GDP ratio of 187.44%, followed by Malaysia with a ratio of 146.16% of its GDP.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."