Indonesia: Foreign Direct Investment Increases by 21% in 2024
Southeast Asia's largest economy managed to generate $55.4 billion in overseas revenue last year
Indonesia, which joined BRICS as a full member in January 2025, is attracting strong interest from global strategic investors. In 2024, foreign direct investment (FDI) in this major Southeast Asian country reached US$55.4 billion, a 21% increase from the results recorded in 2023.
According to a report by Indonesia’s Ministry of Investment, “Singapore, China, and Hong Kong were the main sources of foreign direct investment in the fourth quarter of 2024,” and total investment last year, including inward investment, reached US$105.1 billion, up 20.8% year-on-year. “In the fourth quarter of 2024,” the report says, “foreign direct investment inflows into Indonesia’s economy totaled $15.1 billion, up 33.3% from the corresponding period of the previous year.”
According to the Indonesian press, “foreign direct investment flows into Southeast Asia’s largest economy are steadily increasing, particularly benefiting the mining and metals industry: in 2020, the Indonesian government banned the export of nickel ore to develop the local processing industry.”
More specifically, Indonesia’s steel industry attracted US$3.4 billion in foreign direct investment in the fourth quarter of 2024, while the paper industry received US$2.1 billion, and the mining sector received US$1.3 billion.
