Global InformationEconomy of Indonesia information
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|
 Jakarta, the financial centre of Indonesia | |
| Currency | Rupiah (IDR, Rp) |
|---|---|
Fiscal year | Calendar year |
Trade organizations | APEC, WTO, G-20, IOR-ARC, RCEP, AFTA, ASEAN, EAS, ADB, others |
Country group |
|
| Statistics | |
| Population |  279,118,866 (June 2023)[3] |
| GDP |
|
| GDP rank |
|
GDP growth |
|
GDP per capita |
|
GDP per capita rank |
|
GDP by sector |
|
Inflation (CPI) |  3.05% (March 2024)[9] |
Population below poverty line |  2.5% in extreme poverty (2021 est.)[10]
|
Gini coefficient | 38.3 medium (2023)[13] |
Human Development Index |
|
Labour force |
|
Labour force by occupation |
|
| Unemployment | 5.45% (2023 est.)[12][18] |
Main industries | palm oil, coal, petroleum, petrochemicals, liquified natural gas, vehicle, electronics, transportation, machinery, steel, telecommunication, electric power, food processing, wood industry, textile, footwear, consumer goods, integrated circuits, medical equipment, optical devices, paper, handicrafts, chemicals, rubber, pharmaceuticals, financial services, seafood, smelting, and tourism |
| External | |
| Exports | $259 billion (2023)[19] |
Export goods | Palm oil, Steel, Metal, Machinery and Industrial equipment, Chemicals products, Liquefied natural gas, Textiles products, Footwear products, Automobiles, Transportation products, Wooden products, Plastics |
Main export partners |
|
| Imports | $222 billion (2023)[19] |
Import goods | Machinery and Industrial equipment, Steel, Foodstuffs, Petroleum products, Electronics, Raw material, Chemicals products, Transportation products |
Main import partners |
|
FDI stock |
|
Current account | +$3.46 billion (2021 est.) |
Gross external debt | $396.3 billion (Q2 2023)[20] |
| Public finances | |
Government debt | 37.0% of GDP (Q1 2022)[21] |
Budget balance | −0.89% (of GDP) (2024 est.)[22] |
| Revenues | $176.6 billion (2022 est.)[23] |
| Expenses | $207.8 billion (2022 est.)[8] |
Credit rating |
|
Foreign reserves | $146.4 Billion (Dec 2023)[29] |
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars. | |
The economy of Indonesia is a mixed economy with dirigiste characteristics,[30][31] and it is one of the emerging market economies in the world and the largest in Southeast Asia. As an upper-middle income country and member of the G20, Indonesia is classified as a newly industrialized country.[32] Estimated at over 21 quadrillion rupiah in 2023, it is the 16th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP). Indonesia's internet economy reached US$77 billion in 2022, and is expected to cross the US$130 billion mark by 2025.[33] Indonesia depends on the domestic market and government budget spending and its ownership of state-owned enterprises (the central government owns 141 enterprises). The administration of prices of a range of basic goods (including rice and electricity) also plays a significant role in Indonesia's market economy. However, since the 1990s, the majority of the economy has been controlled by individual Indonesians and foreign companies.[34][35][36]
In the aftermath of the 1997 Asian financial crisis, the government took custody of a significant portion of private sector assets through the acquisition of nonperforming bank loans and corporate assets through the debt restructuring process, and the companies in custody were sold for privatization several years later. Since 1999, the economy has recovered, and growth accelerated to over 4–6% in the early 2000s.[37] In 2012, Indonesia was the second fastest-growing G-20 economy, behind China, and the annual growth rate fluctuated around 5% in the following years.[38][39] Indonesia faced a recession in 2020 when the economic growth collapsed to −2.07% due to the COVID-19 pandemic, its worst economic performance since the 1997 crisis.[40]
In 2022, gross domestic product expanded by 5.31%, due to the removal of COVID-19 restrictions as well as record-high exports driven by stronger commodity prices.[41]
Indonesia is predicted to be the 4th largest economy in the world by 2045. Joko Widodo has stated that his cabinet's calculations showed that by 2045, Indonesia will have a population of 309 million people. By Widodo's estimate, there would be economic growth of 5−6% and GDP of US$9.1 trillion. Indonesia's income per capita is expected to reach US$29,000.[42]
- ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
- ^ "World Bank Country and Lending Groups". World Bank. Retrieved 1 July 2023.
- ^ "Indonesian Population June 2023". Ministry of Home Affairs (Indonesia). Retrieved 28 October 2023.
- ^ a b c d "World Economic Outlook Database, April 2024". IMF.org. International Monetary Fund. Retrieved 19 April 2024.
- ^ "WORLD ECONOMIC OUTLOOK 2022 OCT Countering the Cost-of-Living Crisis". www.imf.org. International Monetary Fund. p. 43. Retrieved 11 October 2022.
- ^ "Ekonomi Indonesia Tahun 2022 Tumbuh 5,31 Persen". BPS.go.id. Badan Pusat Statistik. 6 February 2023. Retrieved 8 August 2023.
- ^ "Ekonomi Indonesia Triwulan IV-2023 Tumbuh 5,04 Persen (y-on-y)". BPS.go.id. Badan Pusat Statistik. 5 February 2024. Retrieved 20 April 2024.
- ^ a b c d "CIA World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 13 January 2019.
- ^ "INDONESIA INFLATION MARCH 2024". www.bps.go.id. Retrieved 24 April 2024.
- ^ "worldpoverty 2021". worldpoverty.[verification needed]
- ^ a b c d "Poverty and Inequality Platform". pip.worldbank.org. Retrieved 17 May 2022.
- ^ a b "Profil Kemiskinan di Indonesia Maret 2023". Badan Pusat Statistik. 17 July 2023. Retrieved 29 July 2023.
- ^ "Poverty and Inequality Indicators". pip.worldbank.org. Retrieved 19 April 2024.
- ^ a b "Human Development Index 2023/24" (PDF). hdr.undp.org. United Nations Development Programme. Retrieved 13 March 2024.
- ^ "Labor force, total - Indonesia". data.worldbank.org. World Bank. Retrieved 2 July 2021.
- ^ "Employment to population ratio, 15+, total (%) (national estimate) - Indonesia". data.worldbank.org. World Bank. Retrieved 2 July 2021.
- ^ "Indonesia : Distribution of employment by economic sector from 2010 to 2020". statista.com. Statista. Retrieved 4 July 2021.
- ^ "Report for Selected Countries and Subjects". IMF.org. International Monetary Fund. Retrieved 19 April 2022.
- ^ a b c d "Ekspor Desember 2023 mencapai US$22,41 miliar, naik 1,89 persen dibanding November 2023 dan Impor Desember 2023 senilai US$19,11 miliar, turun 2,45 persen dibanding November 2023". www.bps.go.id/. Retrieved 31 March 2024.
- ^ "Indonesia Foreign Debt 2023". bi.go.id. Retrieved 6 September 2023.
- ^ "Indonesia's External Debt Growth in Q3/2021 Remained Manageable". www.bi.go.id. Retrieved 2 December 2021.
- ^ "Report for Selected Countries and Subjects". IMF.org. International Monetary Fund. Retrieved 19 April 2024.
- ^ "Realisasi Pendapatan Negara 2021". Retrieved 17 January 2022.
- ^ "Japan Credit Racing Agency News Release" (PDF). Archived (PDF) from the original on 16 May 2021.
- ^ "Indonesia | Japan Credit Rating Agency, LTD. - JCR".
- ^ "Indonesia | Japan Credit Rating Agency, LTD. - JCR".
- ^ a b "Indonesia Credit Rating". World Government Bonds. Retrieved 19 May 2020.
- ^ "Fitch Affirms Indonesia at 'BBB'; Outlook Stable". Retrieved 8 December 2020.
- ^ "FOREIGN EXCHANGE RESERVES IN DECEMBER 2023". Retrieved 13 January 2024.
- ^ Kim, Kyunghoon (2021). "Indonesia's Restrained State Capitalism: Development and Policy Challenges". Journal of Contemporary Asia. 51 (3): 419–446. doi:10.1080/00472336.2019.1675084. S2CID 211395480.
- ^ Kim, Kyunghoon (2023). "Key Features of Indonesia's State Capitalism Under Jokowi". Jas (Journal of Asean Studies). 10 (2). doi:10.21512/jas.v10i2.9075.
- ^ "G20 Presidency of Indonesia". Retrieved 27 June 2022.
- ^ "Indonesia Accounts for 40% Digital Transaction Value in ASEAN". Indonesia.go.id. Retrieved 27 August 2023.
- ^ "Kemenperin – Ketika Swasta Mendominasi". Archived from the original on 5 August 2017.
- ^ "80 Persen Industri Indonesia Disebut Dikuasai Swasta". 3 March 2015.
- ^ "Kemenperin – Pengelola Kawasan Industri Didominasi Swasta". Archived from the original on 5 August 2017. Retrieved 5 August 2017.
- ^ "Acicis – Dspp". Acicis.murdoch.edu.au. Retrieved 29 August 2011.
- ^ "GDP growth (annual %)". data.worldbank.org. Retrieved 5 August 2017.
- ^ "Why Indonesia's Apparent Stability Under Jokowi Is a Sign of Its Stagnation". worldpoliticsreview.com. 21 October 2016. Retrieved 6 May 2020.
- ^ "Pertumbuhan Ekonomi 2020 -2,07% Terburuk Sejak Krismon 98". CNBC Indonesia (in Indonesian). Retrieved 5 February 2021.
- ^ "Beating expectations, Indonesia's economy grows 5 percent in Q4". www.aljazeera.com. Retrieved 31 March 2022.
- ^ "Indonesia Will be World's 4th Largest Economy by 2045, President Jokowi Says". Sekretariat Kabinet Republik Indonesia. 27 March 2017. Archived from the original on 27 June 2017. Retrieved 25 May 2021.