Economy & industry overview
Indonesia is the largest economy in Southeast Asia and one of the world's major emerging markets, with a nominal GDP of approximately 1.40 trillion USD in 2024. The economy is driven by domestic consumption, natural resource exports including coal, palm oil, and liquefied natural gas, as well as a growing manufacturing and services sector. Financial services, telecommunications, and commodities form the backbone of the listed equity market. The country has a young and large population of approximately 280 million people, supporting robust consumer demand and a growing middle class. Real GDP growth was 5.03 percent in 2024, reflecting consistent performance in line with recent years, though below the government target.
Key sectors
Learn everything about Indonesia →Macro
| GDP nominal, USD | $1.40T |
| GDP growth real, annual | 5.0% |
| Inflation annual | 2.3% |
| Population people | 277.5M |
| GDP per capita USD | $4,958 |
| Market cap total listed, USD | $700.00B |
| Market cap / GDP | 50.1% |
| Unemployment | 4.9% |
| Listed companies | 940 |
| Exchange | Indonesia Stock Exchange (Bursa Efek Indonesia) (IDX) |
Primary data year: 2024. Sources: World Bank, IMF World Economic Outlook, BPS-Statistics Indonesia, OECD Economic Survey Indonesia 2024, Indonesia Stock Exchange (IDX), MSCI, iShares / BlackRock, UNCTAD Investment Policy Monitor, Trading Economics, Worldometers. Individual figures may cover different reference periods — for example a fiscal year, or an estimate for the current year — and the overview above states these where known.
Latest news
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Other Southeast Asia markets
Largest listed companies
The biggest companies on the main local exchange, by market capitalisation. Where a foreign company holds a secondary listing here, it is shown after the domestic companies.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | Bank Central AsiaBBCA · IDX | Banking · Financials | $41.97B | — |
| 2 | Bank Rakyat IndonesiaBBRI · IDX | Banking · Financials | $26.81B | — |
| 3 | Bank MandiriBMRI · IDX | Banking · Financials | $21.00B | — |
| 4 | Barito Renewables EnergyBREN · IDX | Utilities · Renewable Energy | $20.00B | — |
| 5 | DCI IndonesiaDCII · IDX | Technology · Data Centers | $19.00B | — |
| 6 | Bayan ResourcesBYAN · IDX | Energy · Coal | $13.50B | — |
| 7 | Telkom IndonesiaTLKM · IDX | Telecommunications · Infrastructure | $11.50B | TLK |
| 8 | Amman Mineral InternasionalAMMN · IDX | Basic Materials · Mining and Metals | $10.20B | — |
| 9 | Astra InternationalASII · IDX | Industrials · Conglomerates | $8.40B | — |
| 10 | PT Indoritel Makmur Internasional TbkDNET · IDX | Consumer Staples · Retail Holdings | $7.65B | — |
| 11 | Dian Swastatika SentosaDSSA · IDX | Energy · Coal and Power | $7.00B | — |
| 12 | Chandra Asri PacificTPIA · IDX | Basic Materials · Petrochemicals | $6.80B | — |
| 13 | Barito PacificBRPT · IDX | Basic Materials · Petrochemicals and Renewables | $6.50B | — |
| 14 | Bank Negara IndonesiaBBNI · IDX | Banking · Financials | $4.80B | — |
| 15 | Indofood CBP Sukses MakmurICBP · IDX | Consumer Staples · Food and Beverage | $3.60B | — |
| 16 | Sumber Alfaria TrijayaAMRT · IDX | Consumer Discretionary · Retail | $3.20B | — |
| 17 | Adaro Energy IndonesiaADRO · IDX | Energy · Coal | $3.10B | — |
| 18 | PT Bank Tabungan Negara (Persero) TbkBBTN · IDX | Banking · Mortgage Finance | $2.90B | — |
| 19 | United TractorsUNTR · IDX | Industrials · Heavy Equipment and Mining | $2.90B | — |
| 20 | Gudang GaramGGRM · IDX | Consumer Staples · Tobacco | $2.80B | — |
| 21 | Indofood Sukses MakmurINDF · IDX | Consumer Staples · Food and Agribusiness | $2.50B | — |
| 22 | PT Harum Energy TbkHRUM · IDX | Energy · Coal Mining and Minerals | $2.30B | — |
| 23 | Unilever IndonesiaUNVR · IDX | Consumer Staples · Personal and Home Care | $2.20B | — |
| 24 | Merdeka Copper GoldMDKA · IDX | Basic Materials · Mining | $2.10B | — |
| 25 | PT XL Axiata TbkEXCL · IDX | Telecommunications · Mobile | $2.10B | — |
| 26 | PT Indosat TbkISAT · IDX | Telecommunications · Mobile and Digital | $2.00B | — |
| 27 | Kalbe FarmaKLBF · IDX | Healthcare · Pharmaceuticals | $1.90B | — |
| 28 | Charoen Pokphand IndonesiaCPIN · IDX | Consumer Staples · Poultry and Animal Feed | $1.80B | — |
| 29 | Perusahaan Gas NegaraPGAS · IDX | Energy · Natural Gas Distribution | $1.70B | — |
| 30 | Mitra Keluarga KaryasehatMIKA · IDX | Healthcare · Hospital Services | $1.60B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market, the simplest route for many US investors.
| ETF | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|
| EIDOiShares MSCI Indonesia ETF · BlackRock (iShares) | Single-country | 0.59% | 100% |
| VWOVanguard FTSE Emerging Markets ETF · Vanguard | Broad EM | 0.08% | 2% |
| GMFState Street SPDR S&P Emerging Asia Pacific ETF · State Street Global Advisors (SPDR) | Regional | 0.49% | 3% |
| AAXJiShares MSCI All Country Asia ex Japan ETF · BlackRock (iShares) | Regional | 0.70% | 2% |
| EEMSiShares MSCI Emerging Markets Small-Cap ETF · BlackRock (iShares) | Broad EM | 0.70% | 4% |
| EEMiShares MSCI Emerging Markets ETF · BlackRock (iShares) | Broad EM | 0.70% | 2% |
Local exchange & access
| Exchange | Indonesia Stock Exchange (Bursa Efek Indonesia) |
| Code | IDX |
| Website | www.idx.co.id |
| Currency | IDR |
Local broker access
Foreign investors can access Indonesian equities through international brokers that offer access to the Indonesia Stock Exchange, including global platforms such as Interactive Brokers. Domestic brokerage accounts at IDX-member firms require compliance with Indonesian financial regulations and OJK (Otoritas Jasa Keuangan) requirements. US-based investors may prefer exposure through US-listed ETFs such as EIDO rather than direct IDX accounts. Capital gains on shares sold on the IDX are subject to a final withholding tax, and dividend withholding rates apply to foreign investors under applicable tax treaties. Investors should verify current regulatory requirements with a qualified adviser.
Global brokers with foreign-market access
- Interactive Brokers — Direct access to 90+ markets worldwide, including many emerging exchanges.
- Saxo Bank — Multi-market access across Asia, Europe and the Middle East.
- Charles Schwab (Global) — Foreign ordinary shares on select markets; US-listed ADRs and ETFs.
- Fidelity International Trading — International stock trading on a number of developed and emerging markets.
Listed for convenience only. Not a recommendation. Available markets, fees and onboarding rules differ by broker and by your country of residence.
Relocation & residency
Investment visa / residency programme
Grants Long-term residency (5 or 10 years, renewable)
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Minimum investment: $350.00K
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Indonesia officially launched its Golden Visa programme in July 2024, following a pilot in 2023. Individual investors can qualify with a minimum deposit in a local bank of 350,000 USD for a five-year visa or 700,000 USD for a ten-year visa. Corporate applicants must invest at least 50 million USD. Holders receive multi-entry privileges, longer stay periods, the right to own assets in Indonesia, and access to fast-track citizenship application. The programme targets foreign investors, global talents, global figures, second-home owners, and former Indonesian citizens and their descendants. Prospective relocators should consult Indonesian immigration authorities for the most current regulations.
US-listed ADRs & cross-listings
Companies from this country whose shares also trade in the US, investable in a normal US brokerage account.
| Company | US ticker | Local ticker | Note |
|---|---|---|---|
| Telkom Indonesia | TLK | TLKM | Telkom Indonesia trades on the New York Stock Exchange as an American Depositary Receipt under the ticker TLK. It is the only major Indonesian company with a US-listed ADR on a major exchange. Each ADR represents 100 ordinary shares listed on the IDX. |