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On 6 July 2023 Indonesia Investments released the June 2023 edition of its monthly report. In the report we present a number of analyses of topics (all related to the economy, politics and social matters) that were relevant in Indonesia in the month of June 2023.
In line with our forecast, Indonesian exports to overseas markets declined mildly in July 2022 (compared to the previous month). However, unlike last month’s forecast, imports into Indonesia expanded mildly over the same period.
Considering Indonesia is committed to the development of renewable energy in a bid to cut the country’s greenhouse gas emissions, while at the same time reducing its traditional dependence on fossil fuels such as coal and (mainly imported) diesel in terms of the energy supply, biomass is one of the options that can offer a solution.
Last month when we discussed the impressive December 2021 trade performance of Indonesia (when its exports remained strong at near-record high territory, while imports soared to a record high), we ended our article with several ‘things’ to watch:
On Monday (08.11.2021) Indonesia Investments released its October 2021 report. This report discusses a range of subjects - related to political developments, the economy and social matters - that were influential in Indonesia in the month of October 2021.
Indonesia’s August 2021 trade balance was quite spectacular with the value of the country’s exports totaling USD $21.42 billion, the highest export figure in ten years.
Before we delve into Indonesia’s June 2021 trade statistics, we first take a quick look at Indonesia’s full-year 2020 trade performance as Indonesia’s Statistical Agency (Badan Pusat Statistik, BPS) released its annual ‘Indonesian Foreign Trade Statistics – 2020’ report in the first week of July 2021.
On 5 March 2021 Indonesia Investments released its latest monthly report in which key developments are discussed that impact on the country's business and investment environments, most notably the 'positive investment list' (a derivative regulation of the Omnibus Law on Job Creation) and the establishment of Indonesia's sovereign wealth fund (which will focus on infrastructure development).
The latest research report of Indonesia Investments focuses on the energy sector of Indonesia. The energy sector is a crucial sector because without energy it is impossible to pursue economic and social development.
The Indonesian government plans to allow an earlier submission of a request for the extension of mining concessions. Stakeholders say that this would considerably strengthen the investment climate in Indonesia's mining sector, specifically the coal mining industry, on the back of improved legal certainty.
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After its one-week holiday, Indonesia's main stock index (IHSG) started in negative territory. The index fell 0.93 percent to 4,597.78 on Monday (12/08) with the country's miscellaneous industry sector and the consumer goods sector leading the fall. It is interesting to note that most Indonesian mining companies showed significantly rising share prices as prices of mining commodities are expected to increase. According to Morgan Stanley, coal imports to India will grow while the global coal price has already reached its lowest point.
State-owned electricity provider Perusahaan Listrik Negara (PLN) stated that consumption of electricity in Indonesia grew 7.2 percent to 90,48 terawatt hour (twh) in the first six months of 2013 compared to the same period last year. Head of PLN's Commercial Division, Benny Marbun, explained that Indonesia's industrial sector particularly consumed more electricity. Although industrial customers of PLN only grew by 4.5 percent in Semester 1-2013 (YoY), industrial electricity consumption grew 8.3 percent (YoY).
Indonesia already is a strong trade partner to a number of countries in Europe. Based on data released by Indonesia's Ministry of Trade, the Netherlands and Spain are two European countries that import a considerable amount of Indonesian products and thus are important contributors to Indonesia's trade surplus in the non oil & gas sector. But other European nations, such as Germany and Russia, pressure Indonesia's trade surplus. It indicates that, despite the wide distance, Indonesia and Europe have a close and valuable trade relationship.
Indonesia's trade balance recorded another deficit in April 2013 as imports (USD $16.31 billion) exceeded exports (USD $14.70 billion). April's trade deficit, amounting to USD $1.62 billion, was mainly due to continued weak commodity exports in combination with strong oil, basic machinery and utensils imports. After five consecutive months of deficits up to February, Indonesia’s trade account reported a surplus of USD $330 million in March, but fell back into deficit in April. From January to April, Indonesia's trade deficit stands at USD $1.85 billion.
The chairman of the Indonesia Coal Mining Association said that Indonesia's coal exports are expected to increase from 310 million tons in 2012 to 330 million tons in 2013, a 6.5 percent increase. Coal producers have been facing a tough period since July 2008 when global coal demand weakened and triggered volatile - but mostly declining - coal prices ever since. Coal demand from China and India, however, is expected to increase this year.
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