Key Market Indicators
Indonesia's truck imports are projected to climb to nearly $1.9 billion by 2028, up from approximately $1.7 billion in 2023. This represents an average annual growth rate of 2.1%. Despite this upward trend, the long-term demand for trucks in Indonesia has seen a slight decline, decreasing by 0.1% annually since 1994. Conversely, Indonesian truck exports are set to decline. By 2028, exports are expected to drop to around $81 million, down from about $92 million in 2023. This marks a compound annual growth rate (CAGR) decrease of 1.8%. Since 1994, the country's truck supply has fallen by 2% annually. In the global context, Indonesia ranked 43rd in truck exports in 2023, with Uruguay slightly ahead at the same figure of approximately $92 million. Leading the global rankings, the United States, Germany, and France occupied the second, third, and fourth positions, respectively.