Indonesia
Southeast Asia · Jakarta · IDR (Indonesian Rupiah)
Economy & industry overview
Indonesia is the largest economy in Southeast Asia and the 17th largest globally by nominal GDP, with a diversified base spanning commodities, manufacturing, financial services, and a rapidly growing digital economy. The country is a major producer and exporter of palm oil, coal, nickel, and natural gas, while domestic consumption — supported by a population of approximately 277 million — is a primary growth driver. Banking, telecommunications, and consumer-goods sectors are well-represented on the Indonesia Stock Exchange (IDX). The government has pursued infrastructure investment and downstream industrialisation policies, particularly in the nickel and electric-vehicle battery supply chain. Economic growth has remained consistently near 5 percent annually, underpinned by relatively low inflation and a stable macroeconomic policy framework.
Key sectors
📘 Learn everything about Indonesia →Macro
| GDP nominal, USD | $1.40T |
| GDP growth real, annual | 5.0% |
| Inflation annual | 2.2% |
| Population people | 277.5M |
| GDP per capita USD | $4,368 |
| Market cap total listed, USD | $724.00B |
| Market cap / GDP | 51.8% |
| Unemployment | 4.9% |
| Listed companies | 925 |
| Exchange | Indonesia Stock Exchange (IDX) |
Data year: 2024. Sources: World Bank World Development Indicators, IMF World Economic Outlook (October 2024), BPS-Statistics Indonesia (Badan Pusat Statistik), Indonesia Stock Exchange (IDX) — idx.co.id, OECD Economic Outlook Vol. 2024 Issue 2, FRED / St. Louis Fed, Trading Economics, StatisticsTimes.com, Databoks / Katadata.
Latest news
Other Southeast Asia markets
Largest listed companies
The biggest companies on the main local exchange, by market capitalisation.
| # | Company | Sector | Market capUSD | US listing |
|---|---|---|---|---|
| 1 | PT Bank Central Asia TbkBBCA · IDX | Banking | $78.75B | — |
| 2 | PT Barito Renewables Energy TbkBREN · IDX | Renewable Energy | $78.00B | — |
| 3 | PT Chandra Asri Pacific TbkTPIA · IDX | Petrochemicals | $52.00B | — |
| 4 | PT Amman Mineral Internasional TbkAMMN · IDX | Mining (Copper & Gold) | $47.00B | — |
| 5 | PT Bank Rakyat Indonesia (Persero) TbkBBRI · IDX | Banking | $47.00B | BKRKF |
| 6 | PT Bank Mandiri (Persero) TbkBMRI · IDX | Banking | $39.00B | PPERY |
| 7 | PT Bayan Resources TbkBYAN · IDX | Coal Mining | $34.00B | — |
| 8 | PT Telkom Indonesia (Persero) TbkTLKM · IDX | Telecommunications | $17.50B | TLK |
| 9 | PT Astra International TbkASII · IDX | Diversified Conglomerate | $10.50B | — |
| 10 | PT Dian Swastatika Sentosa TbkDSSA · IDX | Energy & Diversified | $9.50B | — |
| 11 | PT GoTo Gojek Tokopedia TbkGOTO · IDX | Technology & E-Commerce | $2.80B | — |
| 12 | PT Indofood CBP Sukses Makmur TbkICBP · IDX | Consumer Staples (Food) | $5.20B | — |
| 13 | PT Indofood Sukses Makmur TbkINDF · IDX | Consumer Staples (Food) | $3.10B | — |
| 14 | PT United Tractors TbkUNTR · IDX | Heavy Equipment & Mining | $4.80B | — |
| 15 | PT Adaro Energy Indonesia TbkADRO · IDX | Coal Mining & Energy | $3.60B | — |
| 16 | PT Bank Negara Indonesia (Persero) TbkBBNI · IDX | Banking | $5.10B | — |
| 17 | PT Kalbe Farma TbkKLBF · IDX | Healthcare & Pharmaceuticals | $2.10B | — |
| 18 | PT Unilever Indonesia TbkUNVR · IDX | Consumer Staples (FMCG) | $2.40B | — |
| 19 | PT Merdeka Copper Gold TbkMDKA · IDX | Mining (Copper & Gold) | $3.20B | — |
| 20 | PT Indosat Tbk (Indosat Ooredoo Hutchison)ISAT · IDX | Telecommunications | $2.00B | — |
US-traded ETFs
Funds listed in the US that give exposure to this market — the simplest route for many US investors.
| Ticker | ETF | Issuer | Scope | Expense ratioannual % | Exposure% of fund |
|---|---|---|---|---|---|
| IDX | VanEck Indonesia Index ETF | VanEck | Single-country | 0.57% | 100% |
| EIDO | iShares MSCI Indonesia ETF | BlackRock (iShares) | Single-country | 0.59% | 100% |
| VWO | Vanguard FTSE Emerging Markets ETF | Vanguard | Broad EM | 0.08% | 2% |
| FLIN | Franklin FTSE India ETF | Franklin Templeton | Broad EM | 0.19% | 2% |
| ASEA | Global X - FTSE Southeast Asia ETF | Global X | Regional | 0.65% | 18% |
| EEM | iShares MSCI Emerging Markets ETF | BlackRock (iShares) | Broad EM | 0.70% | 2% |
Local exchange & access
| Exchange | Indonesia Stock Exchange |
| Code | IDX |
| Website | www.idx.co.id |
| Currency | IDR |
Local broker access
Foreign investors may trade on the IDX through local licensed securities firms or international brokers with IDX access. A local custodian account and Single Investor Identification (SID) number are required. Settlement is T+2. The Financial Services Authority (OJK — Otoritas Jasa Keuangan) is the primary regulator. Some sectoral foreign ownership limits apply (e.g., banking caps). US-based investors may alternatively access Indonesian equities via US-listed ETFs (EIDO, IDX) or ADRs/OTC cross-listings.
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-stay residence visa (5 or 10 years, renewable) — not permanent residency or citizenship
Indonesia introduced a Second Home Visa (Visa Rumah Kedua) in 2022, allowing foreign nationals to reside in Indonesia for 5 or 10 years (renewable) upon placing a minimum of IDR 2 billion (approximately USD 130,000) in an Indonesian state-owned bank or purchasing qualifying Indonesian assets of equivalent or greater value. The programme is administered by the Directorate General of Immigration under the Ministry of Law and Human Rights.
Minimum investment: $130.00K
Need help applying? Specialist investment-migration advisers such as Henley & Partners.
Foreign-investor access
Foreign nationals may apply for Indonesia's Second Home Visa with a qualifying bank deposit or asset purchase. Indonesia does not generally permit foreigners to own freehold land; property access is typically via leasehold or right-of-use (Hak Pakai) titles. A KITAS (Temporary Stay Permit) is required for medium- to long-term residence. The capital is in the process of being relocated from Jakarta to Nusantara (East Kalimantan).
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 |
|---|---|---|---|
| Bank Mandiri | PPERY | BMRI | Trades on the US OTC markets as an ADR. Bank Mandiri is Indonesia's largest bank by total assets and is majority state-owned. |
| Bank Rakyat Indonesia | BKRKF | BBRI | Trades on the US OTC markets (Pink Sheets) as an American Depositary Receipt. Provides US investors with direct exposure to Indonesia's largest state-owned bank by market cap. |
| Medco Energi Internasional | MEYYY | MEDC | Trades on the US OTC markets. Medco Energi is one of Indonesia's largest independent oil and gas exploration and production companies, with assets across Southeast Asia and the Middle East. |
| Telkom Indonesia | TLK | TLKM | Listed on the New York Stock Exchange (NYSE) as an American Depositary Share (ADS); one of the few Indonesian companies with a primary US exchange listing. Each ADS represents 100 ordinary shares. |