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Indonesia:
Economy

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Economy - overview
Definition
Indonesia, a vast polyglot nation, has been undergoing significant economic reforms under President YUDHOYONO. Indonesia's debt-to-GDP ratio has been declining steadily, its foreign exchange reserves are at an all-time high of over $50 billion, and its stock market has been one of the three best performers in the world in 2006 and 2007, as global investors sought out higher returns in emerging markets. The government has introduced significant reforms in the financial sector, including tax and customs reforms, the introduction of Treasury bills, and improved capital market supervision. Indonesia's new investment law, passed in March 2007, seeks to address some of the concerns of foreign and domestic investors. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. Indonesia has been slow to privatize over 100 state-owned enterprises, several of which have monopolies in key sectors. The non-bank financial sector, including pension funds and insurance, remains weak. Capital markets are underdeveloped. The high global price of oil in 2007 increased the cost of domestic fuel and electricity subsidies, and are contributing to concerns about higher food prices. Located on the Pacific "Ring of Fire" Indonesia remains vulnerable to volcanic and tectonic disasters. Significant progress has been made in rebuilding Aceh after the devastating December 2004 tsunami, and the province now shows more economic activity than before the disaster. Unfortunately, Indonesia suffered new disasters in 2006 and early 2007 including: a major earthquake near Yogyakarta, an industrial accident in Sidoarjo, East Java that created a "mud volcano," a tsunami in South Java, and major flooding in Jakarta, all of which caused additional damages in the billions of dollars. Donors are assisting Indonesia with its disaster mitigation and early warning efforts.
GDP (purchasing power parity)
Definition - World rank and map
$837.8 billion (2007 est.)
GDP (official exchange rate)
Definition
$432.9 billion (2007 est.)
GDP - real growth rate
Definition - World rank and map
6.3% (2007 est.)
GDP - per capita
Definition - World rank and map
$3,700 (2007 est.)
GDP - composition by sector
Definition
agriculture: 13.8%
industry: 46.7%
services: 39.4% (2007 est.)
Labor force
Definition
109.9 million (2007 est.)
Labor force - by occupation
Definition
agriculture: 43.3%
industry: 18%
services: 38.7% (2004 est.)
Unemployment rate
Definition - World rank and map
9.6% (2007 est.)
Population below poverty line
Definition
17.8% (2006)
Household income or consumption by percentage share
Definition
lowest 10%: 3.6%
highest 10%: 28.5% (2002)
Distribution of family income - Gini index
Definition - World rank and map
36.3 (2005)
Inflation rate (consumer prices)
Definition - World rank and map
6.4% (2007 est.)
Investment (gross fixed)
Definition - World rank and map
24.9% of GDP (2007 est.)
Budget
Definition
revenues: $79.25 billion
expenditures: $84.85 billion (2007 est.)
Public debt
Definition - World rank and map
34.1% of GDP (2007 est.)
Agriculture - products
Definition
rice, cassava (tapioca), peanuts, rubber, cocoa, coffee, palm oil, copra; poultry, beef, pork, eggs
Industries
Definition
petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism
Industrial production growth rate
Definition - World rank and map
4.7% (2007 est.)
Electricity - production
Definition - World rank and map
125.9 billion kWh (2006 est.)
Electricity - consumption
Definition - World rank and map
108 billion kWh (2006 est.)
Electricity - consumption per capita
Definition - World rank and map
454.8 kWh (2006 est.)
Electricity - exports
Definition
0 kWh (2006 est.)
Electricity - imports
Definition
0 kWh (2006 est.)
Oil - production
Definition - World rank and map
1.07 million bbl/day (2006 est.)
Oil - consumption
Definition - World rank and map
1.1 million bbl/day (2006 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
4.6 bbl/day (2006 est.)
Oil - exports
Definition - World rank and map
470,000 bbl/day (2006 est.)
Oil - imports
Definition - World rank and map
500,000 bbl/day (2006 est.)
Oil - proved reserves
Definition - World rank and map
4.43 billion bbl (2007 est.)
Natural gas - production
Definition - World rank and map
74 billion cu m (2006 est.)
Natural gas - consumption
Definition - World rank and map
37.5 billion cu m (2006 est.)
Natural gas - consumption per capita
Definition - World rank and map
158 cu m (2006 est.)
Natural gas - exports
Definition - World rank and map
29.6 billion cu m (2006 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2006)
Natural gas - proved reserves
Definition - World rank and map
2.63 trillion cu m (1 January 2007 est.)
Current account balance
Definition - World rank and map
$11.01 billion (2007 est.)
Exports
Definition - World rank and map
$118 billion f.o.b. (2007 est.)
Exports - commodities
Definition
oil and gas, electrical appliances, plywood, textiles, rubber
Exports - partners
Definition
Japan 18.5%, US 10.7%, Singapore 10.3%, China 8.6%, South Korea 6.8%, Malaysia 4.4%, Taiwan 4.3% (2006)
Imports
Definition - World rank and map
$84.93 billion f.o.b. (2007 est.)
Imports - commodities
Definition
machinery and equipment, chemicals, fuels, foodstuffs
Imports - partners
Definition
Singapore 28.2%, China 12.1%, Japan 8.7%, South Korea 5.5%, Malaysia 4.9%, Thailand 4.6%, US 4% (2006)
Reserves of foreign exchange and gold
Definition - World rank and map
$56.92 billion (31 December 2007 est.)
Debt - external
Definition - World rank and map
$140.7 billion (31 December 2007)
Stock of direct foreign investment - at home
Definition
$58.13 billion (2007 est.)
Stock of direct foreign investment - abroad
Definition
$9.225 billion (2006 est.)
Market value of publicly traded shares
Definition
$138.9 billion (2006)
Economic aid - recipient
Definition
ODA, $2.524 billion (2006 est.)
note: Indonesia ended 2006 with $67 billion in official foreign debt (about 25% of GDP), with Japan ($25 billion), the World Bank ($8.5 billion) and the Asian Development Bank ($8.4 billion) as the largest creditors; about $6 billion in grant assistance was pledged to rebuild Aceh after the December 2004 tsunami; President YUDHOYONO disbanded the Consultative Group on Indonesia (CGI) donor forum in January 2007
Currency (code)
Definition
Indonesian rupiah (IDR)
Exchange rates
Definition
Indonesian rupiah per US dollar - 9,056 (2007 est.), 9,159.3 (2006), 9,704.7 (2005), 8,938.9 (2004), 8,577.1 (2003)
Fiscal year
Definition
calendar year


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