Thai Prime Minister Anutin Charnvirakul visit to Indonesia could turn out to be fruitful for both nations especially after an agreement to raise trade to US$20 billion by 2030.
This target was outlined under Indonesia–Thailand Strategic Partnership Roadmap.
Trade data over the past five years suggests that the target is achievable and broadly aligned with the existing trend.
In 2021, Indonesia–Thailand bilateral trade reached US$16.23 billion, rising to US$19.19 billion in 2022 before settling at around US$17.5 billion in 2023 and 2024. In 2025, trade grew 1.35 percent year-on-year to US$17.67 billion.
Data from the Indonesian Ministry of Trade shows that total bilateral trade reached US$9.80 billion in the first half of 2026.
If this momentum continues through the end of the year, Indonesia–Thailand trade in 2026 could reach nearly US$19.6 billion, putting it within reach of the US$20 billion target set for 2030. The roadmap provides a strategic framework to support this growth.
Official data from the Ministry of Trade and Statistics Indonesia (BPS) shows that Indonesia has consistently recorded a trade deficit with Thailand since 2011, driven largely by imports of machinery and automotive products.
The deficit peaked at a record US$3.05 billion in 2023. The deficit narrowed significantly to US$2.02 billion in 2024 and fell further to US$140.6 million in 2025.
The decline was driven by a 13.73 percent year-on-year increase in Indonesian exports. Indonesian exports, led by oil, coal, seafood, and paper, outpaced imports from Thailand, which mainly consisted of rice, machinery, and vehicle parts.
To sustain this positive trend, Prabowo and Anutin agreed to strengthen the Joint Trade Commission, which is tasked with expanding market access and reducing trade barriers between the two Southeast Asian countries.
