The import of Sugars and Sugar Confectionery to Indonesia in 2023 stood at 2.6286 Billion US Dollars. Moving forward, the year-on-year variation increased by 3.08% in 2023. Over the past five years, the compound annual growth rate (CAGR) was 4.34%, indicating a steady upward trend.
From 2013 to 2023, the import value has experienced fluctuations, with the most significant annual increase of 57.98% observed in 2016. Notably, 2020 saw a decline of 13.99%, followed by a recovery phase. Moving into the forecasted years, a moderate growth trajectory is expected, with a forecasted 5-year CAGR of 2.28%, achieving a total growth rate of 11.95% by 2028.
Looking ahead, factors to watch for include global sugar market dynamics, domestic consumption trends, and potential trade policies impacting imports. The steady growth in forecasted values suggests a positive outlook for sugar import volumes, provided economic and regulatory environments remain favorable.