Indonesia-Turkey Trade Surplus Soars 57% in 2024

Turkish President Recep Tayyip Erdogan, along with his delegation, made a state visit to Indonesia on February 11-12, 2025.

The meeting between President Erdogan and Indonesian President Prabowo Subianto at the Bogor Palace resulted in 13 bilateral agreements across various sectors, as reported by *Katadata.co.id* on Wednesday (February 12).

President Prabowo explained that this meeting was the first *High-Level Strategic Council*, the highest mechanism of bilateral relations between the two countries.

“This partnership is for the prosperity of the people of both countries and also to work towards a better new world order leading to world peace and stability,” said Prabowo in a press conference after the meeting with Turkish President Erdogan at the Bogor Palace.

Based on data from the Ministry of Trade, total trade between Indonesia and Turkey reached US$1.4 billion in 2024, a 25.98% increase compared to the previous year.

Details show that Indonesia's exports to Turkey last year amounted to US$1.94 billion, while imports were only US$461.2 million. As a result, Indonesia recorded a trade surplus of US$1.48 billion, or Rp23.6 trillion at an exchange rate of Rp16,000 per US dollar. This value surged 57% from the previous year.

Over the past decade, trade between Indonesia and this European partner has shown an upward trend, reaching its peak in 2022, as shown in the graph.

The following are the values of Indonesian goods exported to Turkey in the last five years:

* 2020: US$1.05 billion
* 2021: US$1.61 billion
* 2022: US$2.07 billion
* 2023: US$1.54 billion
* 2024: US$1.94 billion

The following are the values of Indonesian goods imported from Turkey in the last five years:

* 2020: US$0.27 billion
* 2021: US$0.40 billion
* 2022: US$0.52 billion
* 2023: US$0.60 billion
* 2024: US$0.46 billion