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  • Bank Indonesia: Current Account Deficit at 2.2% of GDP in FY-2016

    Bank Indonesia: Current Account Deficit at 2.2% of GDP in FY-2016

    Bank Indonesia, the central bank of Indonesia, expects the country's current account deficit to increase to USD $4.8 billion - or about 2.2 percent of gross domestic product (GDP) - in full-year 2016. Although the deficit remains high - and is forecast to go higher - there is optimism that this increase is caused by rising imports of capital goods and raw materials. These goods and materials are used to manufacture new products (that may be exported from Indonesia) and therefore have a positive impact on the economy (in contrast to consumer product imports that bring few future economic value).

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  • Indonesia Posts USD $293.6 Million Trade Surplus in August 2016

    Indonesia Posts USD $293.6 Million Trade Surplus in August 2016

    Although at a slower pace, Indonesia's exports and imports continued to contract in August 2016. In August Indonesia exported USD $12.63 billion worth of goods down 0.75 percent on a year-on-year basis (much better than analysts had forecast). Meanwhile, Indonesia imported USD $12.34 billion worth of goods in August, down 0.49 percent (y/y). As such, the trade balance in August showed a USD $293.6 million surplus. However, Indonesia's Statistics Agency (BPS) added that it was the 23rd month of declining imports and exports for Indonesia.

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  • Port Infrastructure Indonesia: 1st Terminal New Priok Port Completed

    Port Infrastructure Indonesia: 1st Terminal New Priok Port Completed

    Indonesian President Joko Widodo witnessed the inauguration of the first newly built container terminal, part of the New Priok Port, an extension of Indonesia's busiest port (Tanjung Priok) in North Jakarta, on Tuesday (13/09). At this occasion Widodo urged the developers of the New Priok Port to speed up construction of the port so that phase one can be completed by 2019. The New Priok Port, consisting of three phases, will relieve the overloaded systems at the existing Tanjung Priok port and bring Indonesia's port facilities on par with other world-class ports.

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  • Trade Balance Indonesia: $598 Million Surplus in July 2016

    Trade Balance Indonesia: $598 Million Surplus in July 2016

    Indonesia's Statistics Agency (BPS) announced on Monday (15/08) that the trade balance of Indonesia showed a surplus of USD $598 million in July 2016, down from a USD $879.2 million surplus in the preceding month and considerably below analyst forecasts. Although Indonesia, Southeast Asia's largest economy, booked a USD $4.2 billion trade surplus in the first seven months of 2016, concern about Indonesia's weakening exports and imports persist. Faster falling imports (compared to exports) explains the trade surplus.

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  • Trade & Investment between Indonesia & Switzerland

    Trade & Investment between Indonesia & Switzerland

    Indonesia's Industry Ministry is eager to intensify cooperation with Switzerland. On Tuesday (02/08) Indonesian Industry Minister Airlangga Hartanto stated that the European nation selected Indonesia as a key priority country in terms of economic cooperation and partnerships in the industry sector. Indonesia is ranked fourth in terms of priority investment destinations in Asia for Switzerland's foreign direct investment (FDI). Both nations have had positive diplomatic relations that date back to 1952.

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  • Trade Balance Indonesia: $900 Million Surplus in June 2016

    Trade Balance Indonesia: $900 Million Surplus in June 2016

    Indonesia's latest trade data beat forecasts by quite a distance. According to Statistics Indonesia (BPS), Indonesia's trade balance recorded a monthly surplus of USD $900.2 million in June 2016. Previously, median forecasts expected a USD $300 million surplus. Meanwhile, the nation's trade surplus more than doubled in June from the monthly surplus in the preceding month, supported by strong exports of electronics, auto parts, finished garments, and rubber products. Despite this positive result, there remain some concerns.

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  • Indonesia's May Trade Surplus Narrows to $375.6 Million

    Indonesia's May Trade Surplus Narrows to $375.6 Million

    Today (15/06) Statistics Indonesia (BPS) announced that Indonesia's May trade balance showed a surplus of USD $375.6 million, below analyst estimates (at USD $680 million) and below the (revised) USD $660 million trade surplus recorded in the preceding month. Although having a trade surplus is good, there remain concerns about Indonesia's falling exports and imports as these declines are signs of weakening domestic and global economic activity.

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  • Indonesia Declares Patimban Seaport a National Strategic Project

    Indonesia Declares Patimban Seaport a National Strategic Project

    The central government of Indonesia has officially declared the Patimban Seaport project in Subang (West Java) a national strategic project through Presidential Decree No. 47/2016, signed by Indonesian President Joko Widodo. This declaration implies that the project is regarded a priority project that benefits the economy and society as a whole. The priority status further means that all ministers, government agencies and governors need to support the development of the project.

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  • Infrastructure Indonesia: Jakarta's New Priok Port (Kalibaru) Opened Soon

    Infrastructure Indonesia: Jakarta's New Priok Port (Kalibaru) Opened Soon

    State-owned Pelindo II, the company that is involved in port services across ten Indonesian provinces, plans to conduct another test related to the New Priok Port on 2 July 2016. Full commercial operations are scheduled to start on 15 July 2016. The New Priok Port is one of the large government infrastructure projects involving the construction of a new port (an extension of the Tanjung Priok) in North Jakarta in order to tackle Indonesia's severe logistics trouble, while bringing Indonesia's port facilities on par with other world-class ports such as Singapore.

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  • Indonesia's Automotive Industry Ready for Trans-Pacific Partnership?

    Indonesia's Automotive Industry Ready for Trans-Pacific Partnership?

    Last year Indonesian President Joko Widodo emphasized the importance for Indonesia to join the Trans-Pacific Partnership (TPP) as this free trade deal - one of the world's most ambitious trade deals, covering an area that contributes about 40 percent to total global trade - will make the Indonesian economy more efficient and its exports more competitive (while also expanding the nation's export base). However, there also exist concerns about a possible participation of Indonesia in this free trade deal. One of the concerns involves Indonesia's automotive industry.

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