Between 2013 and 2018, Indonesia's transport services exports experienced a notable decline, interrupted only by minor variations, with the value dipping from 16.17 to a low of 11.78. This period saw the largest year-on-year decrease in 2018 at -16.3%, and the cumulative average growth rate (CAGR) from 2013 to 2018 was -5.01%. However, from 2019 onwards, a recovery trend emerged with significant growth registered in 2020 and 2021, leading to a peak value of 24.32 by 2021. The year-on-year variation in 2020 and 2021 stood at 32.87% and 43.09% respectively.
Despite this sharp rise, 2022 saw a correction with a -15.45% decrease, and the 2023 value remained nearly flat with a 0.18% year-on-year increase. For the period from 2019 to 2023, the CAGR was relatively high at 11.82%, indicating strong performance. Moving forward, the forecast data from 2024 through 2028 suggests a period of stability with minimal growth, foreseen at a CAGR of 0.07%.
Key future trends to watch for include:
- Potential impacts of global economic conditions on export volumes.
- Technological advancements in transport services that could affect costs and efficiency.
- Policy changes within Indonesia and trading partners that might influence trade flows.
- Emerging markets and new trade routes offering opportunities for growth.
