How much does Indonesia’s economy rely on external trade?
The trade-to-GDP ratio is frequently used to measure the importance of international transactions relative to domestic transactions. This indicator is calculated for each country as the simple average (i.e., the mean) of total trade (i.e., the sum of exports and imports of goods and services) relative to GDP. This ratio is often called the trade openness ratio.
Trade openness level of Indonesia
Indonesia is different from other ASEAN economies in that it relies less on external demand, with the lowest trade openness degree. This has been the reason why its growth was less affected by the recent global economic slowdown.
What is the size of Indonesia’s economy? See Chart
What is the size of Indonesia’s population? See Chart
What is the demographic structure of Indonesia? See Chart
How has the structure of Indonesia’s GDP changed over the years? See Chart
How much does Indonesia’s economy rely on its natural resources? See Chart
What are the key economic regions in Indonesia? See Chart
Economic Freedom Index: How free is Indonesia’s economy? See Chart