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Trade with Sweden

Indonesia with its over 230 million inhabitants and high economic growth for several years constitutes an important potential market for Sweden. Swedish exports to Indonesia increased rapidly during the 1990s - until the economic crisis. The increase was partly a result of a higher demand for high-tech products, a general strengthening in purchasing power and an improved infrastructure. Swedish exports to Indonesia have recovered gradually after the crisis. The figures for 2008 are approaching pre-crisis levels, making Indonesia the second market for Swedish exports in South East Asia after Singapore. Thanks to improved macroeconomic management and a strengthened financial sector, the economy is in a better shape than during the Asian financial crisis. The Indonesian economy is also the economy in the region less affected by the current global crisis. Growth rate is still relatively high, primarily driven by private consumption.

Swedish exports are currently on a significant rebound amounting to 4.9 billion SEK in 2008 (approx. 623 million USD). Exports grew by 14 per cent compared to previous year. The export mainly comprises of telecommunication equipment, machines and engineering products. Swedish companies are active within several sectors including producing companies such as SKF, Gunnebo and Swedish Match.

Sweden traditionally has a trade surplus with Indonesia. Imports from Indonesia to Sweden have decreased some what in recent years. In 2008 Sweden imported Indonesian goods for 1.1 billion SEK (approx. 138 million USD). However, imports from Indonesia diminshed by 13 per cent compared to previous year. The Swedish imports mainly comprise of clothes, furniture and shoes. Both IKEA and H&M have buying-offices in Indonesia.

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