The import of olive oil to Indonesia has shown a general upward trend from 2013 to 2023, standing at 19.123 Million US Dollars in 2023. Despite occasional fluctuations, the overall trajectory indicates robust growth. For instance, 2020 witnessed a notable dip of 12.1%, but the market quickly rebounded with a 27.07% increase in 2021 followed by gradual increments. The Compound Annual Growth Rate (CAGR) has averaged at 4.45% over the last five years.
Forecasted data suggests the upward trend will continue, with imports projected to reach 23.643 Million US Dollars by 2028, reflecting a forecasted 5-year CAGR of 3.33% and a forecasted 5-year growth rate of 17.78%.
Future trends to watch for:
- Potential impacts of economic and regulatory changes
- Consumer preference shifts towards healthier oils
- Trade relationships between Indonesia and olive oil-exporting countries
