GDP (US$ Billion)

1,010.94 (2017)

World Ranking 16/191

GDP Per Capita (US$)

3,859 (2017)

World Ranking 116/190

Economic Structure

(in terms of GDP composition, 2018)


External Trade (% of GDP)

37.4 (2016)

Currency (Period Average)

Indonesian Rupiah

13,380.87 per US$ (2017)

Political System

Multiparty republic


Indonesia is a sovereign archipelago in Southeast Asia and the fourth most populous country after Mainland China, India, and the United States. It has maintained political stability and is one of Asia Pacific's most vibrant middle-income economies. The country's economic planning follows a 20-year development plan (2005 to 2025). It is segmented into five-year medium-term plans called the Rencana Pembangunan Jangka Menengah Nasional, each with different development priorities. The current medium-term development plan – the third phase of the long-term plan – runs from 2015 to 2020. It focuses on infrastructure development and social assistance programmes related to education and healthcare, among other areas. To strengthen the country's economic growth, the government continues to pursue trade agreements with various countries and economic blocs. Indonesia also continues to carry out policy reforms intended to cut red tape and make it easier to conduct business in order to improve the investment climate of the country.

Sources: World Bank, Fitch Solutions


Major Economic/Political Events and Upcoming Elections

June 2018
Regional and local elections were held on June 27, 2018 to elect 17 governors, 39 mayors and 115 regents across the country. The elections included gubernatorial elections for Indonesia's four most populous provinces: West Java, East Java, Central Java and North Sumatra.


September 2018
A major earthquake and tsunami killed more than 2,000 people on the island of Sulawesi, around the city of Palu.


December 2018
The eruption of the Anak Krakatau caused another tsunami, killing more than 420 people and displacing an additional 40,000.


April 2019
Parliamentary and presidential elections were held. It was the first time in the country's history that the president, the vice president, members of the People's Representative Council (DPR), members of the People's Consultative Assembly and members of local legislative bodies were elected on the same day. Both candidates, Joko 'Jokowi' Widodo and Prabowo Subianto, promoted a mix of business-friendly, populist and protectionist policies.


May 2019
On May 21, 2019, the General Elections Commission declared Joko Widodo victorious in the presidential election, with more than 55% of the vote. Widodo's Indonesian Democratic Party of Struggle finished first in the DPR election, with 19.33% votes, followed by Prabowo's Gerindra with 12.57% and Golkar Party with 12.31% votes.


August 2019
The government revealed Borneo as the proposed site for the new capital of the country. Indonesia was seeking to move its capital away from the flood prone city of Jakarta, parts of which had permanently sunk in water due to constant flooding. The new capital was estimated to cost upwards of USD33 billion to build and an Indonesian unit of the management consulting company McKinsey had been appointed to do feasibility studies including exact funding needs and transportation linkages with nearby cities.


October 2019
PT Borneo Alumina Indonesia selected a consortium led by Black & Veatch to manage the development of an alumina refinery in West Kalimantan. The facility would feature 1 million tonnes per annum smelter-grade alumina refinery, a coal gasification plant and a coal-fired power plant. Black & Veatch was responsible for design review, equipment inspection, and to provide power and coal gasification subject matter proficiency.


Sources: BBC Country Profile – Timeline, The Strait Times, Fitch Solutions

Major Economic Indicators
Graph: Indonesia real GDP and inflation
Graph: Indonesia real GDP and inflation
Graph: Indonesia GDP by sector (2018)
Graph: Indonesia GDP by sector (2018)
Graph: Indonesia unemployment rate
Graph: Indonesia unemployment rate
Graph: Indonesia current account balance
Graph: Indonesia current account balance

f = forecast
Sources: IMF, World Bank
Date last reviewed: November 6, 2019

External Trade

Merchandise Trade

Graph: Indonesia merchandise trade
Graph: Indonesia merchandise trade

Source: WTO
Date last reviewed: November 6, 2019

Graph: Indonesia major export commodities (2018)
Graph: Indonesia major export commodities (2018)
Graph: Indonesia major export markets (2018)
Graph: Indonesia major export markets (2018)
Graph: Indonesia major import commodities (2018)
Graph: Indonesia major import commodities (2018)
Graph: Indonesia major import markets (2018)
Graph: Indonesia major import markets (2018)

Sources: Trade Map, Fitch Solutions
Date last reviewed: November 6, 2019


Trade in Services

Graph: Indonesia trade in services
Graph: Indonesia trade in services


Source: WTO
Date last reviewed: November 6, 2019

Trade Policies
  • Indonesia has been a member of the World Trade Organization (WTO) since January 1, 1995 and a member of the General Agreement on Tariffs and Trade since February 24, 1950.

  • Indonesia is a member of the Association of South East Asian Nations (ASEAN) and a signatory to the ASEAN Free Trade Agreement (FTA), which aims to reduce tariff and non-tariff barriers to trade between member states. ASEAN has also negotiated a FTZ with Australia, New Zealand, mainland China, India, South Korea and Japan. The latter has a separate bilateral FTA with Indonesia.

  • While Indonesia's membership of numerous regional and economic blocs and FTAs has resulted in the country having a very low applied average tariff rate of 2.3% (the sixth lowest in East and South East Asia), there are numerous other barriers to trading with the country. There is significant trade bureaucracy (time and costs) involved for supply chains when exporting out of and importing into Indonesia, with various permit and licensing requirements.

  • The Indonesian government provides various subsidies and tax incentives to local businesses and farms as it seeks to make local agriculture, manufacturing and labour-intensive industries more competitive.

  • Indonesia has imposed a variety of import bans on foreign companies, including bans on alcohol and foodstuffs such as meat and corn. Import quotas have also been imposed on other agricultural products, such as fruits and vegetables.

  • VAT is applicable on deliveries (sales) of goods and services within Indonesia at a rate of 10%. VAT on exported goods is zero-rated, while imported goods are subject to VAT at a rate of 10%.

  • In January 2017, Indonesia relaxed the ban on unprocessed mineral exports in an attempt to boost the economy and ease budgetary pressures. The ban was implemented in 2014 to promote the domestic mineral processing industry and encourage exports of high value-added mineral products.

  • In August 2018, the Indonesian government announced an increase in tariffs on over 500 consumer goods to 7.5% in order to reduce imports and improve the current account. Since the announcement, the planned number of goods affected by the tariffs has increased from 500 to 900, and some tariffs have increased to 10%. Affected products are primarily consumer goods, as opposed to raw materials, as imported consumer goods can easily be substituted for domestic ones.

Sources: WTO – Trade Policy Review, Global Trade Alert, Fitch Solutions

Trade Agreement

Trade Updates

  • Indonesia is set to become part of one of the largest Asian/southern hemisphere FTAs – the Regional Comprehensive Economic Partnership (RCEP). Negotiations are under way among 10 South East Asian nations and six of their large trading partners: Mainland China, Japan, South Korea, India, Australia and New Zealand. Once RCEP is finalised, the 16 countries will form a major trading bloc that represents around one-third of the world’s gross domestic product.

  • In April 2018, the African Export-Import Bank and the Indonesia Export-Import Bank entered into an agreement to commit up to USD100 million to support businesses and trade activities between Indonesia and African countries.

  • In 2015 the ASEAN Economic Community (AEC) was launched, with member states being Indonesia, Malaysia, the Philippines, Singapore, Thailand, Brunei, Cambodia, Laos, Myanmar and Vietnam. The AEC aims to integrate ASEAN member states in to a single market, which will provide a base for facilitating freer flows of goods, services, investment, educated labour and capital flow between these member states.


Multinational Trade Agreements


  1. ASEAN Free Trade Area (AFTA): AFTA entered into force on January 1, 1993. AFTA reduces tariff and non-tariff barriers between member states; in particular, Indonesia's trade with Malaysia and Singapore is significantly boosted. The 10 members of the AFTA are Brunei, Indonesia, Malaysia, the Philippines, Singapore, Vietnam, Laos, Myanmar, Indonesia and Cambodia. AFTA particularly boosts Indonesia’s trade with Malaysia and Singapore.

  2. ASEAN-Mainland China FTA and Economic Integration Agreement: The FTA, which came into effect in January 2005 for goods and July 2007 for services, is a comprehensive economic cooperation agreement between ASEAN member states and Mainland China. The goal of the agreement is to eliminate tariffs and address behind-the-border barriers that impede the flow of goods and services. Mainland China is Indonesia’s second-largest export and largest import partner. The FTA is a major boost to trade between these countries.

  3. Indonesia-Japan FTA and Economic Integration Agreement: The FTA came into effect on July 1, 2008 and is aimed at facilitating, promoting and liberalising trade in goods and services between the parties. Japan is Indonesia's third largest export and import partner. This FTA provides a strong boost to trade ties and helps the country balance its reliance on Mainland China.

  4. ASEAN-South Korea FTA and Economic Integration Agreement: The FTA, which came into force on October 14, 2010, allows 90% of the products traded between ASEAN and South Korea to enjoy duty-free treatment. The agreement is significant given the high trade flows between the countries.

  5. ASEAN-India FTA: The FTA entered into force on January 1, 2010 and involves the liberalisation of tariffs on over 90% of products traded between the two regions, including the so-called special products, such as palm oil (crude and refined), coffee, black tea and pepper.

  6. ASEAN-Hong Kong FTA: The agreement came into force on January 1, 2019 but will take time for all members of ASEAN to comply as implementation is subject to completion of the necessary procedures. The deal aims to cover all aspects of trade in goods, such as tariffs, rules of origin, non-tariff measures, customs procedures and trade facilitation, trade remedies, technical barriers to trade, and sanitary and phytosanitary measures. Indonesia will eliminate the customs duties of approximately 75% of its tariff lines within 10 years, whereas Hong Kong will grant tariff-free access to all products originating from ASEAN member states when the FTA takes effect.

Under Negotiation

  1. India-Indonesia Comprehensive Economic Cooperation Arrangement: The arrangement seeks to expand and develop bilateral relations and cooperation in the fields of trade, industry, investment and other economic fields.

  2. Indonesia-European Union (EU): Negotiations for an FTA between Indonesia and the EU were launched in April 2016, with six rounds held to date. The EU is Indonesia’s fourth largest trade partner. Indonesia already benefits from the EU’s Generalised Scheme of Preferences (GSP), with about 30% of Indonesia’s exports to the bloc subject to lower duties. Indonesia currently has a partnership and cooperation agreement with the EU, which has been in force since 2014.

  3. RCEP: The RCEP is a proposed FTA between the 10 member states of ASEAN and the six states with which ASEAN has existing FTAs (Australia, Mainland China, India, Japan, South Korea and New Zealand). The RCEP will cover trade in goods, trade in services, investment, economic and technical cooperation, intellectual property, competition, dispute settlement and other issues.

Note: Only major FTAs cited
Sources: WTO Regional Trade Agreements database, government websites, Fitch Solutions

Investment Policy

Foreign Direct Investment

Graph: Indonesia FDI stock
Graph: Indonesia FDI stock
Graph: Indonesia FDI flow
Graph: Indonesia FDI flow

Source: UNTCAD
Date last reviewed: November 6, 2019


Foreign Direct Investment Policy

  1. Since coming into power in 2014, the incumbent Indonesian President Joko Widodo, also known as Jokowi, has taken a pro-investment approach by seeking to attract foreign investment in order to boost the country's manufacturing sector and infrastructure. The Indonesian government has promoted some policies and initiatives to encourage foreign direct investment (FDI), particularly those that assist in developing the country's economy and skill base.

  2. The Foreign Investment Law regulates FDI in the country by granting licensing procedures principally controlled by the Indonesia Investment Coordinating Board (BKPM). It specifies that foreign investment should be in the form of a limited liability foreign investment company incorporated in Indonesia, in which the investor goes into partnership with an Indonesian person or entity as shareholders. The BKPM oversees FDI in Indonesia and is responsible for issuing investment licences to foreign entities. It opened an online portal in 2012 to streamline bureaucratic procedures associated with investment and opening a business. The BKPM is intended to act as a one-stop-shop for business licenses, but investment in the mining, oil and gas, and plantation sectors, among others, requires further authorisation from relevant ministries.

  3. The government encourages FDI by offering a number of fiscal and non-fiscal incentives, including tax holidays, tax allowances, and the exemption of import duties for capital goods and raw materials required for investment. However, the economy remains significantly closed to foreign investment as a result of the multitude of barriers which exist for foreign investors.

  4. Foreigners cannot effectively own land in Indonesia in both urban and rural settings. They can, however, obtain formal rights to use the land for a certain period for purposes such as mineral expropriation, agriculture, building and commercial purposes by forming a legal entity (company) incorporated according to Indonesian law and domiciled in Indonesia. Businesses can purchase apartments and office space in Indonesia valid for a period of time if various stringent stipulations are complied with. It remains a difficult and time onerous process.

  5. Indonesia restricts foreign investment in some sectors through a Negative Investment List. The Negative Investment List aims to consolidate FDI restrictions from numerous decrees and regulations in order to create greater certainty for foreign and domestic investors. There are a number of business operations in which foreigners are explicitly barred from participating. These include the production of alcoholic beverages as well as the ownership of public museums, historical sites and casinos. In addition, FDI in other sectors faces a variety of restrictions, most of which include requirements for special licences and/or caps on foreign ownership. Some of these more restricted industries include mining and finance. The negative list was last revised in 2016, but is set for an update in 2019 to allow full foreign ownership in 25 industries so as to attract more investment in the country following disappointing FDI flows in 2017-2018.

  6. In order to conduct business in Indonesia, foreign investors must be incorporated as a foreign-owned limited liability company in Indonesia. Investors are also required to participate in the Workers Social Security Programme.

  7. The Indonesian government is attempting to ensure that it maintains a stake in the exploitation of the country's national resources by maintaining that foreign-owned mining companies must gradually divest 51% of its shares to Indonesian interests over 10 years, with the price of divested shares determined based on fair market value and not taking into account existing reserves. Under new proposed oil and gas laws, the state's national oil company will have the right of first refusal over any new oil and gas contracts in Indonesia.

  8. High regulatory uncertainty exists in the mining, oil and gas, and construction industries. Indonesia regularly issues and reverses various policies on export bans, taxes and licensing requirements, which creates significant investor uncertainty in these sectors.

  9. Various incentives are offered to companies which are located in bonded zones throughout the country, the largest of which is based on the island of Batam, south of Singapore. These include acceptance of 100% foreign ownership; exemption from import duties, income tax, VAT and sales tax; and fewer required permits and licences.

  10. Indonesia also has several special economic zones and industrial zones although development is sometimes limited. These provide further incentives for foreign investment.

Sources: WTO – Trade Policy Review, ITA, US Department of Commerce, Fitch Solutions

Free Trade Zones and Investment Incentives

Free Trade Zone/Incentive Programme Main Incentives Available
Batam Island FTZ • Largest FTZ located just south of Singapore (bonded zone)

• Investors are not required to apply for additional implementation licenses (location, construction, and nuisance act permits and land titles)

• Foreign companies allowed 100% ownership

• Import duty, income tax, VAT and sales tax exemption on imported capital goods

Sources: US Department of Commerce, Fitch Solutions

Taxation – 2019
  • Value Added Tax: 10%
  • Corporate Income Tax: 25%

Source: Indonesia's Directorate General of Taxes


Important Updates to Taxation Information

  • Foreign taxpayers that are entitled to tax treaty protection are no longer required to submit a form DGT to each tax withholder every month. Under the new regulation, during the validity period of form DGT, foreign taxpayers are only required to submit one form DGT for all of the taxpayer's transactions. The new regulation came into effect on January 1, 2019.

  • A 57% excise tax on e-cigarettes was effective from July 1, 2018.

  • Inline with Indonesia's commitment to implement Base Erosion and Profit Shifting Action 13, Indonesian parent entities or Indonesian subsidiaries of multinational enterprises which meet certain conditions are required to prepare and file a country-by-country Report to the DGT starting with the 2016 tax year.

  • Indonesia looks to introduce a new Tax Law that will come into effect in 2020. Among the stipulations of the new law are a reduction in the corporate income tax rate to 20%, effective in 2023. In addition, there will be no withholding tax on dividends paid to foreign and Indonesian taxpayers with share ownership of 25% or more. This will also be applicable for dividends paid to both Indonesian and foreign taxpayers with share ownership of less than 25%, as long as the dividend income is invested in Indonesia, subject to the re-investment in Indonesia.


Business Taxes

Type of Tax Tax Rate and Base
Corporate Income Tax
- 25%
- Public companies that satisfy a minimum listing requirement of 40% and other conditions are entitled to a tax cut of 5%
Capital Gains Tax 25% on profits
Withholding Tax (dividends) Dividends paid domestically to a resident:

- 15%; Dividends remitted to overseas shareholders are subject to a final 20% withholding tax, unless a tax treaty provides a lower rate
Withholding Tax (interest, royalities) Residents are subject to a creditable withholding tax of 15% with any balance being payable or refundable, while non-residents are subject to a final withholding tax of 20%.
Withholding Tax (branch profits tax) 20%; This rate may be reduced under a double taxation treaty
Withholding Tax (payments to non-residents) 20%
Value Added Tax 10% standard rate; VAT on export of goods is zero-rated while the import of goods is subject to VAT at a rate of 10%
Transfer duty on land and buildings maximum rate of 5%, charged to the seller

Sources: Indonesia's Directorate General of Taxes, Fitch Solutions
Date last reviewed: November 7, 2019

Foreign Worker Requirements

Localisation Requirements

There are stringent localisation requirements in terms of workforce and supply-chain partners in a wide variety of sectors in Indonesia. This makes it much harder and more expensive, and presents higher risks for businesses wishing to hire foreign workers. Given the low levels of skills present in the Indonesian labour market, which makes the hiring of foreign workers for highly and technically skilled positions a necessity in many cases, this is a significantly risk for business operation.

A company can hire foreigners only for positions which the government has deemed open to non-Indonesians. Employers must have training programmes aimed at replacing foreign workers with Indonesians. The foreign worker must meet education, work experience and Indonesian language requirements and commit to the transfer of knowledge to an Indonesian counterpart.


Obtaining Foreign Worker Permits for Skilled Workers

Staying in Indonesia for work purposes for a long period (more than five weeks) requires the approval of the immigration office in Indonesia. Foreign workers must have the necessary visa and work and stay permits, all of which can be applied for at the immigration office by a sponsor or counterpart in Indonesia. Foreigners can only be issued with limited or temporary resident visas for a maximum period of 12 months, with the possibility of extension; this is again subject to approval from the immigration office. The process of obtaining a visa and work permit for foreigners in Indonesia is lengthy, taking an average of three months. It is also a bureaucratically complex process. The temporary resident visa can only be obtained if the applicant has a sponsor or counterpart in Indonesia to help them obtain the visa by applying to the immigration office.


Visa/Travel Restrictions

Given that Indonesia has a significant tourism industry, there are many countries (such as those in the EU and those party to the Asia-Pacific Economic Cooperation Agreement) whose citizens can obtain visas on arrival in order to enter Indonesia for a periods of 30-60 days.


Language/Cultural barriers

Indonesian (Bahasa) is the official language of Indonesia and is the widely spoken language across the country. Javanese is also spoken throughout Java Island and some provinces in Sumatra and Kalimantan Island. While it is possible to conduct business in English, a little understanding of local languages is helpful for forging successful business relationships in the country. Hierarchy in business is respected a lot more in Indonesian culture in comparison with the United States and Western Europe.

Sources: Government websites, Fitch Solutions


Sovereign Credit Ratings

  Rating (Outlook) Rating Date
Moody's Baa2 (Stable) 13/04/2018
S&P Global BBB (Stable) 31/05/2019
Fitch Raings BBB (Stable) 14/03/2019

Sources: Moody's, S&P Global, Fitch Ratings


Competitiveness and Efficiency Indicators

  World Ranking
2018 2019 2020
Ease of Doing Business Index 72/190 73/190 73/190
Ease of Paying Taxes Index 114/190 112/190 81/190
Logistics Performance Index 46/160 N/A N/A
Corruption Perception Index 89/180 N/A N/A
IMD World Competitiveness 43/63 32/63 N/A

Sources: World Bank, IMD, Transparency International


Fitch Solutions Risk Indices

  World Ranking
2017 2018 2019
Economic Risk Index N/A 37/202 42/201
Short-Term Economic Risk Score 68.1 69.2 70.0
Long-Term Economic Risk Score 68.5 69.0 67.8
Political Risk Index N/A 94/202 91/201
Short-Term Political Risk Score 72.9 70.6 71.0
Long-Term Political Risk Score 68.5 63.2 63.2
Operational Risk Index N/A 83/201 77/201
Operational Risk Score 52.2 52.6 53.8

Source: Fitch Solutions
Date last reviewed: Novemebr 7, 2019


Fitch Solutions Risk Summary


Indonesia's short-term economic risk is constrained by an inefficient tax system and reliance on resource revenue, and its long-term economic risk is dragged down by the risks associated with government expenditure and the high volatility of its currency.


There are various opportunities for investment in Indonesia, which is South East Asia's largest economy. The manufacturing, information and communications technology, financial services, oil and gas, and infrastructure sectors all represent attractive options for foreign direct investment, while portfolio investment, through increasingly sophisticated local financial markets, is a key source of capital inflows. Restrictions on FDI and excessive red tape in setting up a business pose hindrances. Nonetheless, businesses in Indonesia are able to make use of the country's strategic location on vital global shipping lanes, which bodes well for the future, especially when considered with the various port projects happening in Indonesia.

Source: Fitch Solutions
Date last reviewed: November 8, 2019


Fitch Solutions Political and Economic Risk Indices

Graph: Indonesia short term political risk index
Graph: Indonesia short term political risk index
Graph: Indonesia long term political risk index
Graph: Indonesia long term political risk index
Graph: Indonesia short term economic risk index
Graph: Indonesia short term economic risk index
Graph: Indonesia long term economic risk index
Graph: Indonesia long term economic risk index

100 = Lowest Risk, 0 = Highest Risk
Source: Fitch Solutions Political and Economic Risk Indices
Date last reviewed: Novemebr 7, 2019


Fitch Solutions Operational Risk Index

  Operational Risk Labour Market Risk Trade and Investment Risk Logistics Risk Crime and Security Risk
Indonesia Score 53.8 54.4 53.3 55.6 51.8
East and Southeast Asia average 55.5 55.9 56.8 55.6 53.6
East and Southeast Asia position (out of 18) 10 11 12 11 9
Asia average 48.4 49.7 48.2 46.8 49.1
Asia position (out of 35) 10 12 13 13 14
Global average 49.7 50.3 49.8 49.3 49.2
Global Position (out of 201) 77 74 89 73 91
Graph: Indonesia vs global and regional averages
Graph: Indonesia vs global and regional averages
Country/Region Operational Risk Labour Market Risk Trade and Investment Risk Logistics Risk Crime and Security Risk
Singapore 83.0 78.2 88.6 78.9 86.3
Hong Kong 81.6 72.3 88.8 80.6 84.5
Taiwan 72.5 65.6 76.2 76.3 71.9
South Korea 71.8 65.9 71.4 79.6 70.4
Malaysia 69.5 63.8 73.6 73.9 66.8
Macao 64.0 61.7 66.5 58.7 69.1
Brunei 62.3 61.6 60.7 60.0 67.0
Thailand 60.4 55.6 67.2 69.1 49.4
Mainland China 57.6 53.8 57.7 71.7 47.3
Indonesia 53.8 54.4 53.3 55.6 51.8
Vietnam 52.8 47.8 56.6 57.7 49.0
Mongolia 51.6 56.0 53.8 40.9 55.6
Philippines 47.3 57.0 50.7 45.4 36.2
Cambodia 40.8 44.5 43.7 35.0 39.8
Laos 38.4 40.5 34.5 40.8 37.6
North Korea 31.0 45.8 18.5 27.6 32.3
Myanmar 30.3 43.9 31.9 27.7 17.8
Timor-Leste 29.9 37.9 27.8 21.5 32.3
Regional Averages 55.5 55.9 56.8 55.6 53.6
Emerging Markets Averages 46.9 48.5 47.4 45.8 45.9
Global Markets Averages 49.7 50.3 49.8 49.3 49.2

100 = Lowest risk, 0 = Highest risk
Source: Fitch Solutions Operational Risk Index
Date last reviewed: Novemebr 7, 2019

Hong Kong Connection

Hong Kong’s Trade with Indonesia

Graph: Major Export Commodities to Indonesia (2018)
Graph: Major Export Commodities to Indonesia (2018)
Graph: Major Import Commodities from Indonesia (2018)
Graph: Major Import Commodities from Indonesia (2018)

Note: Graph shows the main Hong Kong imports from/exports to Indonesia (by consignment)
Date last reviewed: Novemebr 7, 2019

Graph: Merchandise exports to Indonesia
Graph: Merchandise exports to Indonesia
Graph: Merchandise imports from Indonesia
Graph: Merchandise imports from Indonesia

Note: Graph shows Hong Kong imports from/exports to Indonesia (by consignment)
Exchange Rate HK$/US$, average
7.75 (2014)
7.75 (2015)
7.76 (2016)
7.79 (2017)
7.83 (2018)
Sources: Hong Kong Census and Statistics Department, Fitch Solutions
Date last reviewed: Novemebr 7, 2019

  2018 Growth rate (%)
Number of Indonesia residents visiting Hong Kong 427,007 -11.4
  2017 Growth rate (%)
Number of Indonesians residing in Hong Kong 136,697 1.6

Sources: Hong Kong Tourism Board, United Nations Department of Economic and Social Affairs – Population Division

2018 Growth rate (%)
Number of Asia Pacific residents visiting Hong Kong 61,043,576 12.03
  2017 Growth rate (%)
Number of East Asians and South Asians residing in Hong Kong 2,784,870 1.6

Sources: Hong Kong Tourism Board, United Nations Department of Economic and Social Affairs – Population Division, Fitch Solutions
Date last reviewed: Novemebr 7, 2019


Commercial Presence in Hong Kong

  2016 Growth rate (%)
Number of Indonesian companies in Hong Kong N/A N/A
- Regional headquarters
- Regional offices
- Local offices


Treaties and agreements between Hong Kong and Indonesia

  • Indonesia has a double taxation agreement with Hong Kong that entered into force in March 2012.
  • Hong Kong has an air service agreement with Indonesia that entered into force on June 27, 1997.
  • Indonesia has a double taxation agreement with Mainland China that came into force in August 2003 and was amended in March 2016.

Source: Inland Revenue Department


Chamber of Commerce or Related Organisations

Indonesia Chamber of Commerce in Hong Kong

Address: 11/F, Nanyang Plaza, 57 Hung To Road, Kwun Tong, Kowloon


Tel: (852) 2110 1645    

Fax :(852) 2110 1649

Source: Indonesia Chamber of Commerce in Hong Kong


Indonesia-Hong Kong Business Association

Email: /

Tel: (62) 21 3005 2101


Please click to view more information.

Source: Federation of Hong Kong Business Associations Worldwide


Consulate General of the Republic of Indonesia in Hong Kong

Address: 127-129 Leighton Road, 6-8 Keswick Street, Causeway Bay, Hong Kong


Tel: (852) 3651 0200

Fax: (852) 2895 0139

Website: Consulate General of the Republic of Indonesia in Hong Kong


Visa Requirements for Hong Kong Residents

Visa-free access valid for 30 days.

Source: Visa on Demand

Date last reviewed: Novemebr 7, 2019

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