Economy Indonesia

EconomyIndonesia, a vast polyglot nation,has weathered the globalfinancial crisis relatively smoothlybecause of its heavy reliance ondomestic consumption as thedriver of economic growth.Although the economy slowedsignificantly from the 6%-plusgrowth rate recorded in 2007and 2008, expanding at 4% inthe first half of 2009, Indonesiaoutperformed its regionalneighbors and joined China andIndia as the only G20 membersposting growth during the crisis.The government used fiscalstimulus measures and monetarypolicy to counter the effects ofthe crisis and offered cashtransfers to poor families; inaddition, campaign spending inadvance of legislative andpresidential elections in April andJuly helped buoy consumption.The government made economicadvances under the firstadministration of PresidentYUDHOYONO, introducingsignificant reforms in thefinancial sector, including tax andcustoms reforms, the use ofTreasury bills, and capital marketdevelopment and supervision.Indonesia's debt-to-GDP ratio inrecent years has declinedsteadily because of increasinglyrobust GDP growth and soundfiscal stewardship. Indonesia stillstruggles with poverty andunemployment, inadequateinfrastructure, corruption, acomplex regulatory environment,and unequal resourcedistribution among regions.YUDHOYONO's reelection, withrespected economist BOEDIONO ashis vice president, suggestsbroad continuity of economicpolicy, although the start oftheir term has been marred bycorruption scandals. Thegovernment in 2010 faces theongoing challenge of improvingIndonesia's insufficientinfrastructure to removeimpediments to economic growth,while addressing climate changemitigation and adaptation needs,particularly with regard toconserving Indonesia's forestsand peatlands.GDP (purchasing powerparity): GDP (purchasing power parity):$968.5 billion (2009 est.) $927.7billion (2008 est.) $874.4 billion(2007 est.) note: data are in2009 US dollarsGDP (official exchange rate): GDP (official exchange rate):$514.9 billion (2009 est.)GDP - real growth rate: 4.4% (2009 est.) 6.1% (2008 est.)6.3% (2007 est.)GDP - per capita (PPP): GDP - per capita (PPP): $4,000(2009 est.) $3,900 (2008 est.)$3,700 (2007 est.) note: dataare in 2009 US dollarsGDP - composition by sector: agriculture: 14.4% industry: 47.1%services: 38.5% (2009 est.)Labor force: 113.3 million (2009 est.)Labor force - by occupation: agriculture: 42.1% industry: 18.6%services: 39.3% (2006 est.)Unemployment rate: 7.7% (2009 est.) 8.4% (2008 est.)Population below povertyline: 17.8% (2006)Household income orconsumption by percentageshare: lowest 10%: 3% highest 10%:32.3% (2005)Distribution of familyincome - Gini index: 39.4 (2005) 37 (2001)Inflation rate (consumerprices): Inflation rate (consumer prices):5% (2009 est.) 9.9% (2008 est.)Investment (gross fixed): Investment (gross fixed): 27.1%of GDP (2009 est.)Budget: revenues: $83.77 billionexpenditures: $97.24 billion (2009est.)Public debt: 29.8% of GDP (2009 est.) 29.3%of GDP (2008 est.)Agriculture - products: rice, cassava (tapioca), peanuts,rubber, cocoa, coffee, palm oil,copra; poultry, beef, pork, eggsIndustries: petroleum and natural gas,textiles, apparel, footwear,mining, cement, chemicalfertilizers, plywood, rubber, food,tourismIndustrial production growthrate: 2% (2009 est.)Electricity - production: 134.4 billion kWh (2007 est.)Electricity - consumption: 119.3 billion kWh (2007 est.)Electricity - exports: 0 kWh (2008 est.)Electricity - imports: 0 kWh (2008 est.)Oil - production: 1.051 million bbl/day (2008 est.)Oil - consumption: 1.564 million bbl/day (2008 est.)Oil - exports: 85,000 bbl/day (2008 est.)Oil - imports: 671,000 bbl/day (2007 est.)Oil - proved reserves: 3.99 billion bbl (1 January 2009est.)Natural gas - production: 70 billion cu m (2008 est.)Natural gas - consumption: 36.5 billion cu m (2008 est.)Natural gas - exports: 33.5 billion cu m (2008 est.)Natural gas - imports: 0 cu m (2008 est.)Natural gas - provedreserves: 3.001 trillion cu m (1 January2009 est.)Current account balance: $10.7 billion (2009 est.) $604million (2008 est.)Exports: $115.6 billion (2009 est.) $139.3billion (2008 est.)Exports - commodities: oil and gas, electrical appliances,plywood, textiles, rubberExports - partners: Japan 20.2%, US 9.5%, Singapore9.4%, China 8.5%, South Korea6.7%, India 5.2%, Malaysia 4.7%(2008)Imports: $86.6 billion (2009 est.) $116billion (2008 est.)Imports - commodities: machinery and equipment,chemicals, fuels, foodstuffsImports - partners: Singapore 16.9%, China 11.8%,Japan 11.7%, Malaysia 6.9%, US6.1%, South Korea 5.4%, Thailand4.9% (2008)Reserves of foreignexchange and gold: $62.59 billion (31 December 2009est.) $51.64 billion (31 December2008 est.)Debt - external: $150.7 billion (31 December 2009est.) $155.1 billion (31 December2008 est.)Stock of direct foreigninvestment - at home: $73.02 billion (31 December 2009est.) $67.3 billion (31 December2008 est.)Stock of direct foreigninvestment - abroad: $10.51 billion (31 December 2009est.) $6.656 billion (31 December2008 est.)Market value of publiclytraded shares: $98.76 billion (31 December 2008)$211.7 billion (31 December 2007)$138.9 billion (31 December 2006)Exchange rates: Indonesian rupiah (IDR) per USdollar - 10,399.2 (2009), 9,698.9(2008), 9,143 (2007), 9,159.3(2006), 9,704.7 (2005)