Key Market Indicators
Indonesia's fuel imports in 2023 surged to approximately 83 cubic meters, marking a 38.6% increase from the previous year's total of nearly 60 cubic meters. This significant rise underscores the growing demand for fuel in the country. However, a long-term perspective reveals a different trend. Since 1998, the demand for fuel in Indonesia has decreased by roughly 4.9% year on year, reflecting shifting dynamics in the nation's energy consumption patterns. On the export front, Indonesia's fuel exports are projected to climb to around 2,540 cubic meters by 2028, up from 2,340 cubic meters in 2023. This represents a compound annual growth rate (CAGR) of 1.3%. Historically, since 1968, the country's fuel supply has expanded at an impressive average annual rate of 22.6%, showcasing Indonesia's increasing capacity and capability in fuel production.
