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Indonesia Economy Profile 2018

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Economy - overviewIndonesia, 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 33% today. While Fitch and Moody's Investors upgraded Indonesia's credit rating to investment grade in December 2011, Standard & Poor’s has yet to raise Indonesia’s rating to this status amid several constraints to foreign direct investment in the country, such as a high level of protectionism.

Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among its regions. 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)$3.243 trillion (2017 est.)
$3.084 trillion (2016 est.)
$2.937 trillion (2015 est.)
note: data are in 2017 dollars
GDP (official exchange rate)$1.011 trillion (2016 est.)
GDP - real growth rate5.2% (2017 est.)
5% (2016 est.)
4.9% (2015 est.)
GDP - per capita (PPP)$12,400 (2017 est.)
$11,900 (2016 est.)
$11,500 (2015 est.)
note: data are in 2017 dollars
Gross national saving32.6% of GDP (2017 est.)
32.5% of GDP (2016 est.)
32.1% of GDP (2015 est.)
GDP - composition, by end usehousehold consumption: 57.5%
government consumption: 8.9%
investment in fixed capital: 32.1%
investment in inventories: 0.7%
exports of goods and services: 19.2%
imports of goods and services: -18.4% (2017 est.)
GDP - composition by sectoragriculture: 13.9%
industry: 40.3%
services: 45.9% (2017 est.)
Population below poverty line10.9% (2016 est.)
Labor force126.1 million (2017 est.)
Labor force - by occupationagriculture: 32%
industry: 21%
services: 47% (2016 est.)
Unemployment rate5.4% (2017 est.)
5.6% (2016 est.)
Unemployment, youth ages 15-24total: 22.6%
male: 22.3%
female: 23.1% (2015 est.)
Household income or consumption by percentage sharelowest 10%: 3.4%
highest 10%: 28.2% (2010)
Distribution of family income - Gini index36.8 (2009)
39.4 (2005)
Budgetrevenues: $130.6 billion
expenditures: $154.8 billion (2017 est.)
Taxes and other revenues12.9% of GDP (2017 est.)
Budget surplus (+) or deficit (-)-2.4% of GDP (2017 est.)
Public debt33.1% of GDP (2017 est.)
31.5% of GDP (2016 est.)
Inflation rate (consumer prices)4% (2017 est.)
3.5% (2016 est.)
Central bank discount rate6.37% (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 rate11.3% (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$107.6 billion (31 December 2017 est.)
$92.11 billion (31 December 2016 est.)
Stock of broad money$407.6 billion (31 December 2017 est.)
$372.5 billion (31 December 2016 est.)
Stock of domestic credit$436.7 billion (31 December 2017 est.)
$397.7 billion (31 December 2016 est.)
Market value of publicly traded shares$428.2 billion (31 December 2016 est.)
$353.3 billion (31 December 2015 est.)
$422.1 billion (31 December 2014 est.)
Agriculture - productsrubber and similar products, palm oil, poultry, beef, forest products, shrimp, cocoa, coffee, medicinal herbs, essential oil, fish and its similar products, and spices
Industriespetroleum 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 rate3.8% (2017 est.)
Current Account Balance-$17.03 billion (2017 est.)
-$16.77 billion (2016 est.)
Exports$157.8 billion (2017 est.)
$144.4 billion (2016 est.)
Exports - commoditiesmineral fuels, animal or vegetable fats (includes palm oil), electrical machinery, rubber, machinery and mechanical appliance parts
Exports - partnersChina 11.6%, US 11.2%, Japan 11.1%, Singapore 7.8%, India 7%, Malaysia 4.9%, South Korea 4.8% (2016)
Imports$142.3 billion (2017 est.)
$129 billion (2016 est.)
Imports - commoditiesmineral fuels, boilers, machinery, and mechanical parts, electric machinery, iron and steel, foodstuffs
Imports - partnersChina 22.9%, Singapore 10.8%, Japan 9.6%, Thailand 6.4%, US 5.4%, Malaysia 5.4%, South Korea 5% (2016)
Reserves of foreign exchange and gold$122.5 billion (31 December 2017 est.)
$116.4 billion (31 December 2016 est.)
Debt - external$322.6 billion (31 December 2017 est.)
$316.5 billion (31 December 2016 est.)
Stock of direct foreign investment - at home$247.7 billion (31 December 2017 est.)
$229.1 billion (31 December 2016 est.)
Stock of direct foreign investment - abroad$19.96 billion (31 December 2017 est.)
$18.42 billion (31 December 2016 est.)
Exchange ratesIndonesian rupiah (IDR) per US dollar -
13,360.1 (2017 est.)
13,308.3 (2016 est.)
13,308.3 (2015 est.)
13,389.4 (2014 est.)
11,865.2 (2013 est.)
Fiscal yearcalendar year

Source: CIA World Factbook
This page was last updated on January 20, 2018

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