Indonesia's Economy | Indonesian Economy

Economy - overview: Indonesia, a vast polyglot nation, has restored financial stability and pursued sober fiscal policies since the Asian financial crisis, but many economic development problems remain, including 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 due to declining production and lack of new exploration investment. As a result, Jakarta is not reaping the benefits of high world oil prices, and the cost of subsidizing domestic fuel prices has placed an increasing strain on the budget. 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, a major tsunami took nearly 127,000 lives, left more than 93,000 missing and nearly 441,000 displaced, and destroyed $4.5 to $5.0 billion worth of property.

GDP: 3% (2004)

GDP - real growth rate: 4.9% (2004 est.)

GDP - per capita: purchasing power parity - $3,500 (2004 est.)

GDP - composition by sector: agriculture: 14.6% industry: 45% services: 40.4% (2004 est.)

Population below poverty line: 27% (1999)

Household income or consumption by percentage share: lowest 10%: 4% highest 10%: 26.7% (1999)

Distribution of family income - Gini index: 37 (2001)

Inflation rate (consumer prices):

Labor force: 111.5 million (2004 est.)

Labor force - by occupation: agriculture 45%, industry 16%, services 39% (1999 est.)

Unemployment rate: 9.2% (2004 est.)

Budget: revenues: $52.13 billion expenditures: $55.88 billion, including capital expenditures of NA (2004 est.)

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

Industrial production growth rate: 10.5% (2004 est.)

Electricity - production: 110.2 billion kWh (2003)

Electricity - production by source:

Electricity - consumption: 92.35 billion kWh (2003)

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production: 971,000 bbl/day (2003 est.)

Oil - consumption: 1.183 million bbl/day (2003 est.)

Oil - exports: 518,100 bbl/day (2003)

Oil - imports: 370,500 bbl/day (2003)

Oil - proved reserves: 4.9 billion bbl (2004 est.)

Natural gas - production: 77.6 billion cu m (2003 est.)

Natural gas - consumption: 55.3 billion cu m (2003 est.)

Natural gas - exports: 39.7 billion cu m (2003 est.)

Natural gas - imports: 0 cu m (2003 est.)

Natural gas - proved reserves: 2.549 trillion cu m (2004)

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

Exports: $69.86 billion f.o.b. (2004 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)

Imports: $45.07 billion f.o.b. (2004 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)

Debt - external: $141.5 billion (2004 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 $4 billion in aid money pledged by a variety of foreign governments and other groups following the 2004 tsunami; money is slated for use in relief and rebuilding efforts in Aceh.

Currency:

Currency code:

Exchange rates: Indonesian rupiahs per US dollar - 8,938.9 (2004), 8,577.1 (2003), 9,311.2 (2002), 10,260.8 (2001), 8,421.8 (2000)

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



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