Indonesia is a country of over 276 million people and is one of the fastest-growing eCommerce markets in Southeast Asia. As a business, it's hard not to notice the immense potential of this market. With the rise of digitalization and increasing smartphone penetration rates, eCommerce has seen tremendous growth in the country over the past few years. Did you know that Indonesia is the 10th largest market for eCommerce worldwide? It’s even predicted to have a revenue of US $52,930.1 million this 2023.

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Are you interested in marketing and advertising in Indonesia? Indonesia is a unique country with over 1,500 ethnic groups and a population of more than 280 million people. This may seem overwhelming for new businesses, but don't worry, there's a silver lining.

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Last month we warned that Indonesia’s trade performance could easily continue to contract in February 2023, thereby continuing the trend we have seen since August 2022. Moreover, February is a short month, and therefore it typically has trouble to compete with other months in terms of trade activity.

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The recent banking crisis that started with the collapse of three regional American banks (in the second week of March 2023) – and spread further when Credit Suisse was on the brink of collapse before a forced take-over by UBS Group – can be linked to the tech sector (although we emphasize that weak corporate management at the banks in combination with central banks’ ultra-low interest rate environment and the huge quantities of free money that were pumped into economies are the primary reasons for the recent banking crisis).

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