Is Indonesia a wealthy country?
Indonesia, the largest economy in Southeast Asia, has seen a slowdown in growth since 2012, mostly due to the end of the commodities export boom. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. Indonesia’s annual budget deficit is capped at 3% of GDP, and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian financial crisis in 1999 to 34% today. In May 2017 Standard & Poor’s became the last major ratings agency to upgrade Indonesia’s sovereign credit rating to investment grade.
Poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among its regions are still part of Indonesia’s economic landscape. President Joko WIDODO - elected in July 2014 – seeks to develop Indonesia’s maritime resources and pursue other infrastructure development, including significantly increasing its electrical power generation capacity. Fuel subsidies were significantly reduced in early 2015, a move which has helped the government redirect its spending to development priorities. Indonesia, with the nine other ASEAN members, will continue to move towards participation in the ASEAN Economic Community, though full implementation of economic integration has not yet materialized.
What is the GDP of Indonesia?
Currency Name and Code | Rupiah (IDR) |
GDP - Gross Domestic Product (PPP) | $3,130,470,000,000 (USD) |
GDP - official exchange rate | $872,600,000,000 (USD) |
GDP - real growth rate | 4.7% |
GDP Per Capita | $11,300.00 (USD) |
GDP by Sector- agriculture | 13.6% |
GDP by Sector- Industry | 42.8% |
GDP by Sector- services | 43.6% |
GDP - composition, by end use |
household consumption: 56.8% government consumption: 9.4% investment in fixed capital: 32.3% investment in inventories: 1.2% exports of goods and services: 21.7% imports of goods and services: -21.4% |
Population Below Poverty Line | 13.33% |
Inflation Rate | 5.1% |
Labor Force | 116,500,000 |
Labor Force By Occupation- agriculture | 38.9% |
Labor Force By Occupation- industry | 13.2% |
Labor Force By Occupation- services | 47.9% |
Unemployment Rate | 7.1% |
Fiscal Year | calendar year; note - previously was 1 April - 31 |
Annual Budget | $119,500,000,000 (USD) |
Budget Surplus or Deficit - percent of GDP | -3.3% |
Public Debt (% of GDP) | 52.6% |
Taxes and other revenues - percent of GDP | 15.8% |
Major Industries | petroleum and natural gas, textiles, apparel, footwear, mining, cement, chemical fertilizers, plywood, rubber, food, tourism |
Industrial Growth Rate | 3.6% |
Agriculture Products | rice, cassava (tapioca), peanuts, rubber, cocoa, coffee, palm oil, copra, poultry, beef, pork, eggs |
Exchange Rate per US Dollar | Indonesian rupiah (IDR) |
Child Labor - % of children ages 5-14 | 7% |
Child Labor - # of children ages 5-14 | 4,026,285 |
Child Labor - note | note: data represents children ages 5-17 |
Commercial Bank Prime Lending Rate | 12.1% |
Commercial Bank Prime Lending Rate - note | note: these figures represent the average annualized rate on working capital loans |