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The South East Asia Service provides direct calls
at Surabaya and Jakarta every 15 days, with a trans-shipment option via Singapore on alternate weeks. Many other Indonesian ports are also feedered from Singapore. The Line maintains its own representative office in Jakarta supported by an agency network across the country.
Economic Indicator
| Population |
224 million (2004 census) |
| GDP |
US $255.9 billion
(2004) |
| GDP growth |
5.1% (2004) |
| GDP per capita
|
US$1,143 (2004) |
| Inflation |
6.4% (2004) |
| Total exports |
US$69.4 billion
(2004) |
| Total imports |
US$44.8 billion
(2004) |
| Currency |
Rupiah (IDR) |
| Current Exchange
Rate |
NZ$=Rp6,950 as at
October 2005 |
| |
US$=Rp10,050 as at
October 2005 |
Source: Indonesia National Statistic agency,
National Agency for Export Development and Bureau of USA public affairs
Overview
Supported mainly by private and government consumption, real GDP grew 4.1 percent in 2003, exceeding analysts’ forecasts. Increased consumption has been the main driver of growth, in particular due to election year, benefiting also from declining interest rates and increased availability of credit over the past year, currently accounting for 61.2 percent of GDP. Growth has continued in the first quarter of 2004, to 4.5 percent (YoY). Analysts, including IMF, are predicting that Indonesia is on target to meet the Government’s growth target of 4.8 percent for 2004.
By sector, manufacturing, paper and printing, chemical and rubber, transport and machinery, and constructions experienced high growth rates. In contrast, oil and gas, steel and forestry suffered negative growth.
Private consumption will probably continue to grow for the time being. In the longer term, the outlook for a return to sustained growth hinges on investment and exports. Both are still lacklustre and not showing much sign of recovery.
In 2003 the share of investment in GDP fell to 19.7 percent (from 20.3 percent in 2002). This is comparable to levels seen in the late 1960 and early 1970s. Foreign direct investment (FDI) has fallen again, by 34 percent (YoY) in the first two quarters of this year. The National Investment Coordinating Board has noted that the fall was due to a decline in new project approvals, but the fall had been partly offset by a sharp increase in approvals for expansions of existing projects. Domestic investment approvals also rose by 52 percent from the same period last year. Indonesia is the only major ASEAN economy in recent years to have experienced negative FDI growth.
Indonesia is New Zealand’s sixteenth largest trading partner. In 2003 trade was evenly balanced – NZ $377 mn in both directions. Bilateral trade for the year ending December 2003 was worth NZ$754 million, down from NZ$861 million from the previous year. New Zealand exports to Indonesia were mostly responsible for this contraction, down from NZ$502 million in 2002 to NZ$377 million in 2003, with a significant decline in exports of milk products over that period.
The bulk of New Zealand exports to Indonesia are agriculture related. Dairy products account for around 46 percent of New Zealand’s total exports to Indonesia. Indonesia’s single largest export to New Zealand is crude oil.
Source: NZ Ministry of Foreign Affairs and Trade
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Indonesia's Top Ten Imports,
2004 US$ Million
| Mineral fuels,
mineral oil products |
13,387 |
| Organic chemicals |
4,062 |
| Spare parts
|
3,921 |
| Articles of iron and steel |
2,116 |
| Foodstuffs |
1,384 |
| Heavy equipment / machinery |
1,242 |
| Cotton |
680 |
| Vehicles |
403 |
| Petroleum oil / lubricant |
329 |
| Waste paper |
304 |
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Indonesia's
Top Ten Exports, 2004
US$ Million
| Mineral fuels,
mineral oil products |
62,058 |
| Palm oil |
2,580 |
| Organic chemicals |
1,706 |
| Wood and articles
of wood |
1,433 |
| Articles of apparel
accessories |
1,013 |
| Spare parts |
1,003 |
| Mining product (copper, nickel, etc) |
946 |
| Electronic, sound recording, TV, etc |
907 |
| Paper and paperboard
|
505 |
| Fish and seafood
|
378 |
Source: Indonesia National Statistic agency,
National Agency for Export Development and Bureau of USA public affairs
For a more comprehensive account visit:
http://www.bps.go.id
http://www.nafed.go.id
http://www.state.gov/r/pa/ei/bgn/2748.htm
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