Jakarta. Indonesia is aiming to record nearly $294.5 billion in exports this year to catapult the country’s economy towards 8 percent growth as targeted by President Prabowo Subianto.

Prabowo is upbeat that the Indonesian economy can expand 8 percent within his first term, topping the country’s 5-percent natural growth rate. This ambitious goal translates into yearly export target increases. The resource-rich Indonesia is eyeing $294.5 billion in exports in 2025, up by 7.1 percent year-on-year (yoy) from the $274.9 billion yearly export baseline in 2024.

“We are taking into account the global and national gross domestic product (GDP), rupiah-dollar exchange rate, and the world commodity prices when coming up with the 2025 export target,” Trade Minister Budi Santoso told the press in Jakarta on Monday.

Southeast Asia’s largest economy plans to raise the export target by almost 7.1 percent yoy again in 2026, totaling  $315.3 billion. The target will soar 7.9 percent to $340.2 billion in 2027, and up by almost 8.8 percent to $370 billion the following year. The current Prabowo government also intends to wrap up its final year in office with a $405.7 billion export in 2029, marking a 9.6 percent yoy growth compared to the 2028 target.

Indonesia also wants to have more of its micro, small and medium enterprises (MSMEs) -- which make up about 61 percent of the national GDP -- penetrate into the international market. In 2025, Indonesia has set an export target of $19.3 billion to its MSMEs. By 2029, these small businesses should post approximately $35.3 billion in exports that year, according to Budi.

Government data shows Indonesian exports totaled about $241.3 billion in the 11 months of 2024. The latest data only included the overall export figures up to November. Indonesia's non-oil and gas sector contributed $226.9 billion with mineral fuels making up 15.9 percent of the exported goods. China remained Indonesia's top destination for non-oil and gas exports, reaching $54.4 billion over the said period.

At present, Indonesia has 19 bilateral and multilateral free trade deals. These pacts have provided Indonesia with better market access to ASEAN, China, Australia, and Japan, among others.

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