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Top Category About Indonesia 

Comprehensive information on Indonesia's economy, culture and social issies. Providing links to information, directories, public sector and organizations.

Economy In Indonesia
General Information About Indonesia
German - Indonesian Relations

Economy In Indonesia


The collapse of the Rupiah in late 1997 and early 1998 caused GDP to contract by an estimated 13.7% in 1998 because of Indonesian firms' reliance on short-term dollar-denominated debt and high levels of nonperforming loans in the banking sector. The Indonesian Government initially wavered on meeting the conditions it agreed to in exchange for a $42 billion IMF assistance package, contributing to further loss in investor confidence and outflows of capital. Riots that in many cases targeted ethnic Chinese business owners also set back chances that Indonesia would quickly stabilize its financial crisis and contributed to President SOEHARTO's resignation on 21 May 1998. His successor, B.J. HABIBIE, improved cooperation with the IMF. The money supply—which expanded rapidly early in the year to prop up banks hit by deposit runs—was tightened within a few months, and by October, inflation—which reached a 77% annual rate—was significantly dampened. The government also announced a bank recapitalization program in late 1998, but by early 1999 the plan faced growing challenges over its reliance on public funds.

Indonesia still grapples with high unemployment, a fragile banking sector, endemic corruption, inadequate infrastructure, a poor investment climate, and unequal resource distribution among regions. Indonesia became a net oil importer in 2004 because of declining production and lack of new exploration investment. The cost of subsidizing domestic fuel placed increasing strain on the budget in 2005, and combined with indecisive monetary policy, contributed to a run on the currency in August, prompting the government to enact a 126% average fuel price hike in October. The resulting inflation and interest rate hikes will dampen growth prospects in 2006.

Keys to future growth remain internal reform, building up the confidence of international and domestic investors, and strong global economic growth. In late December 2004, the Indian Ocean tsunami took 131,000 lives with another 37,000 missing, left some 570,000 displaced persons, and caused an estimated $4.5 billion in damages and losses and terrorist incidents in 2005 have slowed tourist arrivals.

Economical data:
GDP (purchasing power parity):
$901.7 billion (2005 est.)

GDP (official exchange rate):
$270 billion (2005 est.)

GDP - real growth rate:
5.4% (2005 est.)

GDP - per capita (PPP):
$3,700 (2005 est.)

GDP - composition by sector:
agriculture: 14.7%
industry: 30.6%
services: 54.6% (2005 est.)

Labor force:
94.2 million (2005 est.)

Labor force - by occupation:
Agriculture 46.5%, industry 11.8%, services 41.7% (1999 est.)

Unemployment rate:
10.9% (2005 est.)

Population below poverty line:
16.7% (2004)

Household income or consumption by percentage share:
lowest 10%: 3.6%
highest 10%: 28.5% (2002)

Distribution of family income - Gini index:
34.3 (2002)

Inflation rate (consumer prices):
10.4% (2005 est.)

Investment (gross fixed):
21.5% of GDP (2005 est.)

revenues: $54.3 billion
expenditures: $57.7 billion; including capital expenditures of $NA (2005 est.)

Public debt:
52.6% of GDP (2005 est.)

Agriculture - products:
rice, cassava (tapioca), peanuts, rubber, cocoa, coffee, palm oil, copra; poultry, beef, pork, eggs

petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism

Industrial production growth rate:
2.1% (2005 est.)

Electricity - production:
120.2 billion kWh (2004)

Electricity - consumption:
105.4 billion kWh (2004)

Electricity - exports:
0 kWh (2004)

Electricity - imports:
0 kWh (2004)

Oil - production:
1.061 million bbl/day (2005 est.)

Oil - consumption:
1.084 million bbl/day (2005 est.)

Oil - exports:
431,500 bbl/day (2004 est.)

Oil - imports:
345,700 bbl/day (2005 est.)

Oil - proved reserves:
4.6 billion bbl (2005 est.)

Natural gas - production:
83.4 billion cu m (2005 est.)

Natural gas - consumption:
22.5 billion cu m (2005 est.)

Natural gas - exports:
37.5 billion cu m (2005 est.)

Natural gas - imports:
0 cu m (2005 est.)

Natural gas - proved reserves:
2.557 trillion cu m (2005)

Current account balance:
$2.3 billion (2005 est.)

 $83.64 billion f.o.b. (2005 est.)

Exports - commodities:
oil and gas, electrical appliances, plywood, textiles, rubber

Exports - partners:
Japan 22.3%, US 12.3%, Singapore 8.4%, South Korea 6.8%, China 6.4%, Malaysia 4.2% (2004)

$62.02 billion f.o.b. (2005 est.)

Imports - commodities:
machinery and equipment, chemicals, fuels, foodstuffs

Imports - partners:
Singapore 13.1%, Japan 13.1%, China 8.8%, US 7%, Thailand 6%, Australia 4.8%, Saudi Arabia 4.2%, South Korea 4.2% (2004)

Reserves of foreign exchange and gold:
$34.7 billion (2005 est.)

Debt - external:
$131 billion (2005 est.)

Economic aid - recipient:
$43 billion
note: Indonesia finished its IMF program in December 2003 but still receives bilateral aid through the Consultative Group on Indonesia (CGI), which pledged $2.8 billion in grants and loans for 2004 and again in 2005; nearly $5 billion in aid money pledged by a variety bilateral, multilateral, and non-governmental organization (NGO) donors following the 2004 tsunami; money is slated for use in relief and rebuilding efforts in Aceh (2005 est.)

Currency (code):
Indonesian Rupiah (IDR)

Exchange rates:
Indonesian Rupiah per US dollar - 9,704.7 (2005), 8,938.9 (2004), 8,577.1 (2003), 9,311.2 (2002), 10,260.9 (2001)

Fiscal year:
calendar year; note - previously was 1 April - 31 March, but starting with 2001, has been changed to calendar year

We make no copyright claim on any statistical data on this page, nor on any non-original graphics, and/or pictures not produced by us. Certain statistical data is gathered from the CIA World Factbook, as well as numerous public domain reference materials.