In 2023, the import value of parts of electronic integrated circuits to Indonesia stood at $772.82 million. Over the past decade, the import value has experienced dramatic fluctuations, with significant growth starting in 2017. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 was 3.56%. The year-on-year variation showed some inconsistencies, notably a leap of 627.97% in 2017, followed by a steady increase in recent years, with a 5.55% rise in 2023.
Looking forward, forecasted data up to 2028 indicates a 5-year CAGR of 3.8%, with the import value expected to reach $985.02 million by 2028. Future trends to watch for include advances in technology and increased domestic demand for electronic products, which are likely to drive continued growth in import values.
Key points include:
- Significant fluctuations in import values over the past decade.
- Strong growth pattern since 2017, with stable increases in the last few years.
- Forecast predicts a moderate but consistent increase in import values through 2028.
- Technological advancements and rising domestic demand are critical factors for future growth.
