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Indonesia Economy Profile 2019

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Economy - overview

Indonesia, the largest economy in Southeast Asia, has seen a slowdown in growth since 2012, mostly due to the end of the commodities export boom. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. Indonesia’s annual budget deficit is capped at 3% of GDP, and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian financial crisis in 1999 to 34% today. In May 2017 Standard & Poor’s became the last major ratings agency to upgrade Indonesia’s sovereign credit rating to investment grade.

Poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among its regions are still part of Indonesia’s economic landscape. President Joko WIDODO - elected in July 2014 – seeks to develop Indonesia’s maritime resources and pursue other infrastructure development, including significantly increasing its electrical power generation capacity. Fuel subsidies were significantly reduced in early 2015, a move which has helped the government redirect its spending to development priorities. Indonesia, with the nine other ASEAN members, will continue to move towards participation in the ASEAN Economic Community, though full implementation of economic integration has not yet materialized.

GDP (purchasing power parity)
$3.25 trillion (2017 est.)
$3.093 trillion (2016 est.)
$2.945 trillion (2015 est.)

note: data are in 2017 dollars

GDP (official exchange rate)
$1.015 trillion (2017 est.)
GDP - real growth rate
5.1% (2017 est.)
5% (2016 est.)
4.9% (2015 est.)
GDP - per capita (PPP)
$12,400 (2017 est.)
$12,000 (2016 est.)
$11,500 (2015 est.)

note: data are in 2017 dollars

Gross national saving
31.7% of GDP (2017 est.)
32% of GDP (2016 est.)
32% of GDP (2015 est.)
GDP - composition, by end use
household consumption: 57.3% (2017 est.)
government consumption: 9.1% (2017 est.)
investment in fixed capital: 32.1% (2017 est.)
investment in inventories: 0.3% (2017 est.)
exports of goods and services: 20.4% (2017 est.)
imports of goods and services: -19.2% (2017 est.)
GDP - composition by sector
agriculture: 13.7% (2017 est.)
industry: 41% (2017 est.)
services: 45.4% (2017 est.)
Population below poverty line
10.9% (2016 est.)
Labor force
125 million (2016 est.)
Labor force - by occupation
agriculture: 32%
industry: 21%
services: 47% (2016 est.)
Unemployment rate
5.4% (2017 est.)
5.6% (2016 est.)
Unemployment, youth ages 15-24
total: 15.6%
male: 15.6%
female: 15.6% (2017 est.)
Household income or consumption by percentage share
lowest 10%: 3.4%
highest 10%: 28.2% (2010)
Distribution of family income - Gini index
36.8 (2009)
39.4 (2005)
Budget
revenues: 131.7 billion (2017 est.)
expenditures: 159.6 billion (2017 est.)
Taxes and other revenues
13% (of GDP) (2017 est.)
Budget surplus (+) or deficit (-)
-2.7% (of GDP) (2017 est.)
Public debt
28.8% of GDP (2017 est.)
28.3% of GDP (2016 est.)
Inflation rate (consumer prices)
3.8% (2017 est.)
3.5% (2016 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
11.07% (31 December 2017 est.)
11.89% (31 December 2016 est.)
note: these figures represent the average annualized rate on working capital loans
Stock of narrow money
$102.7 billion (31 December 2017 est.)
$92.11 billion (31 December 2016 est.)
Stock of broad money
$102.7 billion (31 December 2017 est.)
$92.11 billion (31 December 2016 est.)
Stock of domestic credit
$422.4 billion (31 December 2017 est.)
$397.7 billion (31 December 2016 est.)
Market value of publicly traded shares
$523.8 billion (31 December 2017 est.)
$426 billion (31 December 2016 est.)
$353.3 billion (31 December 2015 est.)
Agriculture - products
rubber and similar products, palm oil, poultry, beef, forest products, shrimp, cocoa, coffee, medicinal herbs, essential oil, fish and its similar products, and spices
Industries
petroleum and natural gas, textiles, automotive, electrical appliances, apparel, footwear, mining, cement, medical instruments and appliances, handicrafts, chemical fertilizers, plywood, rubber, processed food, jewelry, and tourism
Industrial production growth rate
4.1% (2017 est.)
Current Account Balance
-$17.33 billion (2017 est.)
-$16.95 billion (2016 est.)
Exports
$168.9 billion (2017 est.)
$144.4 billion (2016 est.)
Exports - commodities
mineral fuels, animal or vegetable fats (includes palm oil), electrical machinery, rubber, machinery and mechanical appliance parts
Exports - partners
China 13.6%, US 10.6%, Japan 10.5%, India 8.4%, Singapore 7.6%, Malaysia 5.1%, South Korea 4.8% (2017)
Imports
$150.1 billion (2017 est.)
$129.2 billion (2016 est.)
Imports - commodities
mineral fuels, boilers, machinery, and mechanical parts, electric machinery, iron and steel, foodstuffs
Imports - partners
China 23.2%, Singapore 10.9%, Japan 10%, Thailand 6%, Malaysia 5.6%, South Korea 5.3%, US 5.2% (2017)
Reserves of foreign exchange and gold
$130.2 billion (31 December 2017 est.)
Debt - external
$344.4 billion (31 December 2017 est.)
Stock of direct foreign investment - at home
$251.5 billion (31 December 2017 est.)
$229.1 billion (31 December 2016 est.)
Stock of direct foreign investment - abroad
$20.5 billion (31 December 2017 est.)
$18.42 billion (31 December 2016 est.)
Exchange rates
Indonesian rupiah (IDR) per US dollar -
13,385 (2017 est.)
13,308.3 (2016 est.)
13,308.3 (2015 est.)
13,389.4 (2014 est.)
11,865.2 (2013 est.)
Fiscal year
calendar year

Source: CIA World Factbook
This page was last updated on December 7, 2019

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