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    Indonesia Economy - 1991

      Overview: Indonesia is a mixed economy with many 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 poor country. GDP growth in 1985-89 averaged about 4%, somewhat short of the more than 5% rate needed to 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 30% of GDP based on a supply of diverse natural resources, including crude oil, natural gas, timber, metals, and coal. Of these, the oil sector dominates the external economy, generating more than 20% of the government's revenues and 40% of export earnings in 1989. However, the economy's growth is very dependent on the continuing expansion of nonoil exports. Japan is Indonesia's most important customer and supplier of aid.

      GDP: $94 billion, per capita $490; real growth rate 6.0% (1990 est.)

      Inflation rate (consumer prices): 10.8% (1990)

      Unemployment rate: 3%; underemployment 44% (1989 est.)

      Budget: revenues $17.2 billion; expenditures $23.4 billion, including capital expenditures of $8.9 billion (FY91)

      Exports: $25.7 billion (f.o.b., 1990); commodities--petroleum and liquefied natural gas 40%, timber 15%, textiles 7%, rubber 5%, coffee 3%; partners--Japan 40%, US 14%, Singapore 7%, Europe 16% (1990)

      Imports: $21.8 billion (f.o.b., 1990); commodities--machinery 39%, chemical products 19%, manufactured goods 16%; partners--Japan 23%, US 13%, EC, Singapore

      External debt: $58.5 billion (1990 est.)

      Industrial production: growth rate 11.6% (1989 est.); accounts for 30% of GDP

      Electricity: 11,600,000 kW capacity; 38,000 million kWh produced, 200 kWh per capita (1990)

      Industries: petroleum, textiles, mining, cement, chemical fertilizers, plywood, food, rubber

      Agriculture: accounts for 23% of GDP, subsistence food production; small-holder and plantation production for export; rice, cassava, peanuts, rubber, cocoa, coffee, oil palm, copra, other tropical products; products--poultry meat, beef, pork, eggs

      Illicit drugs: illicit producer of cannabis for the international drug trade, but not a major player; government actively eradicating plantings and prosecuting traffickers

      Economic aid: US commitments, including Ex-Im (FY70-89), $4.4 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $22.8 billion; OPEC bilateral aid (1979-89), $213 million; Communist countries (1970-89), $175 million

      Currency: Indonesian rupiah (plural--rupiahs); 1 Indonesian rupiah (Rp) = 100 sen (sen no longer used)

      Exchange rates: Indonesian rupiahs (Rp) per US$1--1,907.5 (January 1991), 1,842.8 (1990), 1,770.1 (1989), 1,685.7 (1988), 1,643.8 (1987), 1,282.6 (1986), 1,110.6 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Indonesia on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Indonesia Economy 1991 information contained here. All suggestions for corrections of any errors about Indonesia Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
    Copyright © 2003 Photius Coutsoukis (all rights reserved)