Indonesia’s economy has continued to enjoy a strong recovery after it was severely hit during the Covid-19 pandemic of 2020 and 2021. In 2022, it managed to obtain a respectable growth rate of 5,2 per cent, higher than several other regional powerhouses such as China and Thailand.

The economic recovery is also reflected in the commercial relationships between Sweden and Indonesia. Bilateral trade between both countries reached USD 873 million USD in 2022, up nine per cent from USD 802 million in 2021.

This year, several projects and programs are active in areas such as EV transformation, Industry 4.0, hospital development, green energy transition and sustainable mining. Swedish companies play a very important role in these initiatives as they provide new technologies and solutions to Indonesian businesses and government institutions.

The majority of companies (74 per cent) participating in our survey indicate that they are currently operating at a profit. This represents a significant increase from last year’s result of 58 per cent and 2021’s result of 50 per cent.

A vast majority (78 per cent) of Swedish companies surveyed indicate that they have enjoyed various benefits from the positive image of Sweden in Indonesia. In this country, Sweden is renowned for its image as a highly developed Scandinavian country.

Please download the report to fully overview the results with a detailed analysis. 


The Business Climate Survey is a global initiative undertaken by Team Sweden across 22 markets all over the world. This tool enables Swedish companies to provide important insights into their view of each market’s business climate as well as corresponding opportunities and challenges throughout the respective markets.

This survey is the third edition of the initiative in Indonesia. The data collection was conducted from March to April 2023 through online questionnaires, which were distributed to 70 Swedish companies that are doing business in Indonesia. Thirty-one companies responded to the survey, which represents a response rate of 44 per cent.

We would like to thank all companies that have committed their time to providing their perspectives through the survey. These insights have been very valuable for us in preparing this report.