In ASEAN, Indonesia's Export of Goods and Services Ranks Fifth

Indonesia's exports of goods and services lag behind several other Southeast Asian countries. In fact, Indonesia ranks fifth, trailing Vietnam, as shown in the graph. According to World Bank data, Indonesia's export value of goods and services amounted to US$218.5 billion, or approximately Rp 3 trillion, in 2018, a 6.6% increase from the previous year.

Singapore boasts the highest value of goods and services exports in ASEAN, reaching US$642.29 billion. Thailand is in second place (US$337.4 billion), followed by Malaysia (US$246.9 billion) in third, and Vietnam (US$233.65 billion) in fourth.

Exports of goods and services are a crucial component of foreign exchange earnings. The higher the value of goods and services exported, the greater a country's foreign exchange reserves.