. Index
. 1996 Index
. Flag
. Geography
. People
. Government
. Economy
. Transportation
. Commun'tions
. Defense
. Geo Names
. Feedback
===========
|
Indonesia Economy 1996
Indonesia is a mixed economy with some socialist institutions and central
planning but with a recent emphasis on deregulation and private enterprise.
Indonesia has extensive natural wealth, yet, with a large and rapidly
increasing population, it remains a rather poor country. Real GDP growth in
1985-94 averaged about 6%, quite impressive, but not sufficient to both
slash underemployment and absorb the 2.3 million workers annually entering
the labor force. Agriculture, including forestry and fishing, is an
important sector, accounting for 21% of GDP and over 50% of the labor force.
The staple crop is rice. Once the world's largest rice importer, Indonesia
is now nearly self-sufficient. Plantation crops - rubber and palm oil - and
textiles and plywood are being encouraged for both export and job
generation. Industrial output now accounts for almost 40% of GDP and is
based on a supply of diverse natural resources, including crude oil, natural
gas, timber, metals, and coal. Foreign investment has also boosted
manufacturing output and exports in recent years. Indeed, the economy's
growth is highly dependent on the continuing expansion of nonoil exports.
Japan remains Indonesia's most important customer and supplier of aid. Rapid
growth in the money supply in 1989-90 prompted Jakarta to implement a tight
monetary policy in 1991, forcing the private sector to go to foreign banks
for investment financing. Real interest rates remained above 10% and
off-shore commercial debt grew. The growth in off-shore debt prompted
Jakarta to limit foreign borrowing beginning in late 1991. Despite the
continued problems in moving toward a more open financial system and the
persistence of a fairly tight credit situation, GDP growth in 1992-94 has
matched the government target of 6%-7% annual growth.
GDP - purchasing power parity - $619.4 billion (1994 est.)
-
National product real growth rate:
-
National product per capita:
-
Inflation rate (consumer prices):
3% official rate; underemployment 40% (1994 est.)
$32.8 billion, including capital expenditures of $12.9 billion (FY94/95)
$41.3 billion (f.o.b, 1994 est.)
manufactures 56.7%, fuels 24.8%, foodstuffs 11.1%, raw materials 7.4% (1994
est.)
Japan 30%, US 14%, Singapore 9%, South Korea 6%, Taiwan 4% (1993)
$31.4 billion (f.o.b., 1994 est.)
capital equipment 44.2%, intermed and raw materials 37.0%, consumer goods
11.5%, fuels 7.2% (1994 est.)
Japan 22%, US 11%, South Korea 7%, Germany 7%, Singapore 6%, Australia 5%,
Taiwan 5% (1993)
growth rate 8.4% (1993 est.); accounts for 40% of GDP
petroleum and natural gas, textiles, mining, cement, chemical fertilizers,
plywood, food, rubber
accounts for 21% of GDP; subsistence food production; small-holder and
plantation production for export; main products are rice, cassava, peanuts,
rubber, cocoa, coffee, palm oil, copra, other tropical products, poultry,
beef, pork, eggs
illicit producer of cannabis for the international drug trade, but not a
major player; government actively eradicating plantings and prosecuting
traffickers; growing role as transshipment point for Golden Triangle heroin;
increasing indigenous methamphetamine abuse
US commitments, including Ex-Im (FY70-89), $4.4 billion; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $25.9 billion; OPEC
bilateral aid (1979-89), $213 million; Communist countries (1970-89), $175
million
1 Indonesian rupiah (Rp) = 100 sen (sen no longer used)
Indonesian rupiahs (Rp) per US$1 - 2,203.6 (January 1995), 2,160.7 (1994),
2,087.1 (1993), 2,029.9 (1992), 1,950.3 (1991), 1,842.8 (1990)
|
|
