The import of petroleum gases and other gaseous hydrocarbons to Indonesia has exhibited significant fluctuations over the past decade, reaching 3.6318 billion US dollars in 2023. From 2013 to 2023, the imports experienced varied year-on-year changes, with declines in certain years such as 2016, contrasted with substantial increases like in 2017. Observing the past five years, there has been a relatively stable growth, with a year-on-year increase of 3.85% in 2023 and a five-year compound annual growth rate (CAGR) of 3.46%.
Forecast data suggests that imports will continue to rise, reaching 4.3244 billion US dollars by 2028, showing a predicted five-year CAGR of 2.8%. This projection points to a moderate yet sustained growth trend of approximately 14.78% over the forecasted period.
Future trends to watch for include:
- Shifts in global oil and gas prices impacting import costs.
- Indonesian energy policy changes, especially regarding renewable energy adoption.
- Global economic conditions influencing the demand and supply dynamics in the energy sector.
