Global GDP Growth: Overview
Inflation-adjusted base year prices are used to calculate real GDP. Real GDP changes serve as a gauge of economic growth and show whether the economic activity has increased or decreased. According to real GDP, the world's top five economies are the US, China, Japan, Germany, and India. After the US, China had the largest real GDP in 2021 with a value of $12.7 trillion. With a $6 trillion real GDP during the same period, Japan came in third place internationally. Germany and India are the other two largest economies, with real GDP of $3.8 trillion and $2.9 trillion, respectively.
Indonesia Exports: Overview
Indonesian exports contracted by 5.8% in 2019 and the decline intensified in 2020 to 13%. The slowdown in exports was mainly due to the US-China trade war and a sharp slowdown in the global economy due to the COVID-19 pandemic. According to Statistics Indonesia, exports of oil and non-oil components have increased steadily in 2021. During January–August 2021, the export of commodities increased by 39.2% compared to the same period the previous year.
Mineral fuels, mineral oils, and products of their distillation; bituminous substances; mineral waxes accounted for 15.7% of Indonesia’s exports in 2020, which is a decrease compared to 20.3% in 2019. Animal or vegetable fats and oils and their cleavage products; prepared animal fats; animal or vegetable waxes accounted for 12.7% of total exports in 2020, compared to 10.5% in 2019.
China, the US, and Japan were Indonesia’s top three merchandise trading partners in 2020, accounting for 40.4% of total trade (exports and imports).
Indonesia Exports as a % of GDP
Exports as a % of GDP of Indonesia was 17.4% in 2021, increased by 9.8% year on year basis in 2021. Between 2010-2021, the exports as a % of GDP in Indonesia decreased by 24.6%. The indicator was highest in the year 2011 at 25.2% and lowest in the year 2020 at 15.8%.
Don’t wait - discover a universe of connected data & insights with your next search. Browse over 28M data points across 22 industries.
Access more premium companies when you subscribe to Explorer