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Indonesia Economy Profile 2013

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Economy - overview

Indonesia, a vast polyglot nation, grew an estimated 6.1% and 6.4% in 2010 and 2011, respectively. The government made economic advances under the first administration of President YUDHOYONO (2004-09), introducing significant reforms in the financial sector, including tax and customs reforms, the use of Treasury bills, and capital market development and supervision. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth in 2009. The government has promoted fiscally conservative policies, resulting in a debt-to-GDP ratio of less than 25%, a fiscal deficit below 3%, and historically low rates of inflation. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011. Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among regions. The government in 2013 faces the ongoing challenge of improving Indonesia's insufficient infrastructure to remove impediments to economic growth, labor unrest over wages, and reducing its fuel subsidy program in the face of high oil prices.

GDP (purchasing power parity)

$1.212 trillion (2012 est.)
$1.143 trillion (2011 est.)
$1.074 trillion (2010 est.)
note: data are in 2012 US dollars

GDP (official exchange rate)

$894.9 billion (2012 est.)

GDP - real growth rate

6% (2012 est.)
6.5% (2011 est.)
6.2% (2010 est.)

GDP - per capita (PPP)

$5,000 (2012 est.)
$4,700 (2011 est.)
$4,500 (2010 est.)
note: data are in 2012 US dollars

GDP - composition by sector

agriculture: 14.3%
industry: 46.9%
services: 38.8% (2012 est.)

Population below poverty line

12.5% (2011 est.)

Labor force

119.5 million (2012 est.)

Labor force - by occupation

agriculture: 38.3%
industry: 12.8%
services: 48.9% (2010 est.)

Unemployment rate

6.7% (2012 est.)
6.6% (2011 est.)

Unemployment, youth ages 15-24

total: 22.2%
male: 21.6%
female: 23% (2009)

Household income or consumption by percentage share

lowest 10%: 3.3%
highest 10%: 29.9% (2009)

Distribution of family income - Gini index

36.8 (2009)
39.4 (2005)

Investment (gross fixed)

33.6% of GDP (2012 est.)

Budget

revenues: $139.2 billion
expenditures: $160.6 billion (2012 est.)

Taxes and other revenues

15.6% of GDP (2012 est.)

Budget surplus (+) or deficit (-)

-2.4% of GDP (2012 est.)

Public debt

24.8% of GDP (2012 est.)
24.1% of GDP (2011 est.)

Inflation rate (consumer prices)

4.5% (2012 est.)
5.4% (2011 est.)

Central bank discount rate

6.37% (31 December 2010)
6.46% (31 December 2009)
note: this figure represents the 3-month SBI rate; the Bank of Indonesia has not employed the one-month SBI since September 2010

Commercial bank prime lending rate

11.9% (31 December 2012 est.)
12.4% (31 December 2011 est.)
note: these figures represent the average annualized rate on working capital loans

Stock of narrow money

$90.24 billion (31 December 2012 est.)
$79.73 billion (31 December 2011 est.)

Stock of money

$41.71 billion (31 December 2008)
$47.78 billion (31 December 2007)

Stock of quasi money

$131.1 billion (31 December 2008)
$127 billion (31 December 2007)

Stock of broad money

$355.4 billion (31 December 2012 est.)
$317.3 billion (31 December 2011 est.)

Stock of domestic credit

$323 billion (31 December 2012 est.)
$307.1 billion (31 December 2011 est.)

Market value of publicly traded shares

$390.1 billion (31 December 2011)
$360.4 billion (31 December 2010)
$178.2 billion (31 December 2009)

Agriculture - products

rice, cassava (manioc), peanuts, rubber, cocoa, coffee, palm oil, copra; poultry, beef, pork, eggs

Industries

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

Industrial production growth rate

4.1% (2011 est.)

Current Account Balance

-$20.73 billion (2012 est.)
$2.069 billion (2011 est.)

Exports

$199.1 billion (2012 est.)
$201.5 billion (2011 est.)

Exports - commodities

oil and gas, electrical appliances, plywood, textiles, rubber

Exports - partners

Japan 16.6%, China 11.3%, Singapore 9.1%, US 8.1%, South Korea 8.1%, India 6.6%, Malaysia 5.4% (2011)

Imports

$185 billion (2012 est.)
$166.1 billion (2011 est.)

Imports - commodities

machinery and equipment, chemicals, fuels, foodstuffs

Imports - partners

China 14.8%, Singapore 14.6%, Japan 11%, South Korea 7.3%, US 6.1%, Thailand 5.9%, Malaysia 5.9% (2011)

Reserves of foreign exchange and gold

$104.5 billion (31 December 2012 est.)
$110.1 billion (31 December 2011 est.)

Debt - external

$187.1 billion (31 December 2012 est.)
$190.7 billion (31 December 2011 est.)

Stock of direct foreign investment - at home

$125.8 billion (31 December 2012 est.)
$104.8 billion (31 December 2011 est.)

Stock of direct foreign investment - abroad

$48.57 billion (31 December 2012 est.)
$40.57 billion (31 December 2011 est.)

Exchange rates

Indonesian rupiah (IDR) per US dollar -
9,348.3 (2012 est.)
8,770.43 (2011 est.)
9,090.4 (2010 est.)
10,389.9 (2009)
9,698.9 (2008)

Fiscal year

calendar year

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Source: CIA World Factbook
Unless otherwise noted, information in this page is accurate as of February 21, 2013