TRADE

ECONOMY

Indonesia’s Economic Growth

Indonesia’s economic growth in 2001 was recorded at 3.32 percent, down from 4.8 percent in 2000. For 2002 it is projected to grow at 4 percent and for 2003 at 6 percent.

In 2002 the macro-economic policy will be aimed at self-sustained economy recovery, and will be carried out through a series of monetary policies, fiscal, enterprise restructuring and asset recovery by IBRA (Indonesian Bank Restructuring Agency), and restructuring policies in the various sectors.

Along with the projection of national economic growth, inflation target and exchange rate, the growth rate of primary monetary in 2002 is projected at around 12-13%.

The performance of IBRA is one of the key points of economic recovery in Indonesia. The role of IBRA is very important and strategic in the process of restructuring enterprises, both the bank and non-bank institutions, therefore, to guarantee successful result, IBRA is expected to closely exercise transparency and accountability in carrying out is tasks. Meanwhile the Financial Sector Policy Committee (KKSK) and the Oversight Committee are encouraged to work optimally. The main task of the committee is to formulate policies for the creation of healthy banks and restructure debt by IBRA.

To strengthen fundamental economy for the process of medium term economic growth, the government will reform the structure of many sectors. Among the efforts are improving the supply system of the public sector and financial management policy, reform state owned enterprises and the poverty alleviation program.

Exports and Imports

In the whole year of 2001, the total export rates fell by 9.8% contrasted to that of prior year. The sum of gas-oil and non-gas-oil exports declined respectively by 12.1% and 9.1%.

On December 2001, the total export value reached US$.3.99 billion or it rose by 4.1% compared to that of previous month. The increasing of this export revenue was pashed by the raising of gas-oil exports by 6.2% and non-gas-oil exports 3.5%. The three biggest countries as the destination of exports are the United States, Japan and Singapore consecutively lifted amount to 18.7%, 7.0% and 21.1%.

Next on December 2001 too, the total import values was amount to US$200 billion that means it declined by 1.1% compared to the prior month. This causes by descending of non-gas-oil imports by 2.9% where as the gas-oil imports raised by 7.2%.

During year of 2001, the total import worth gained US$30.79 billions of it dropped by 8.1% contrasted that of the same period in prior year. Based on utility, consumption commodity imports, and capital goods, consecutively decreases by 17.5%, 8.3% and 2.2%. The summary of exports, and imports can be looked at the following table:

National Agency for Export Development (http://www.nafed.go.id)
Indonesian Ministry of Industry and Trade (http://www.dprin.go.id/english/regulasi/default.htm)
Indonesian Customs (http://www.beacukai.go.id/english/main.htm)
Indonesian Customs Tariff Book (http://www.beacukai.go.id/english/tariff/index.htm)
Harmonized System (HS) (www.ppei.com/hs/content.htm)
Central Bank Law (http://www.bi.go.id/bank_indonesia_english/main/regulations)
Indonesian Industry Links (http://www.deplu.go.id/english/industri.htm)
List of Indonesian Associations (http://www.ppei.com/association.htm)
The Indonesian Chambers Of Commerce and Industry (http://www.kadinnet.com/e_index.asp)
Yellow pages (http://www.yellowpages.co.id/)
Living in Indonesia (http://www.expat.or.id)
Indonesian-Product.com (http://www.indonesian-product.com)
Indonesian Trading Zone (http://www.indotradezone.com)
Indonesian Web Site Directory (http://indonesia-ottawa.org/commerce/ENGLISH/Homepage_exporters_2000.htm
Indonesia Export-Import (http://www.export-import-indonesia.com/