Indonesia's digital roadmap 2021-2024 will accelerate the country's digital transformation agenda. "Despite Indonesia's strong macroeconomic fundamentals, the COVID-19 outbreak has changed the course of the economy, with the external environment . Illustration: The government needs to continue structural reforms to encourage foreign investment in Indonesia's export-oriented and high-valued economic sectors, and prioritize investment in sectors that could produce quality and competent workforce, expert staff to the Finance Minister, Halim Alamsyah, has said. Indonesia Economic Growth GDP is expected to grow at a quicker pace in 2022 compared to last year. The second-biggest contributor to Indonesia's GDP in 2020 was the. On a market exchange rate basis, Indonesia ranks 16th in the world but will likely enter the top ten by 2030. It includes a new Economic Cooperation Program (ECP) known as 'Katalis', which aims to maximise the mutual benefits of IA-CEPA, support two-way trade and investment, improve market access, and promote inclusive economic growth . Indonesia Financial Statistics . For example, if Indonesia could increase female labor force participation by just 25 percent by 2025, it could generate an additional $62 billion in economic activity and boost GDP by 2.9 percent. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. GDP is seen growing 5.2% in 2023. The Asian Development Bank (ADB) has projected that Indonesia would return to its pre-pandemic growth trajectory next year, driven by a sustainable trade recovery, a revival in the manufacturing sector, and a large national economic recovery budget for 2021. Services in Indonesia's Economy Aswicahyono and Manning (2012 . Consumer spending is expected to be boosted in 2022 and 2023 as pent-up demand is expected to be released in 2022, especially with the increase in vaccinations, which will allow sustained economic reopening. The government as a regulator and supervisor has an important role in promoting research and innovation, as well as the building of a robust knowledge and innovation ecosystem. The manufacturing development has been a good strategy for reducing the domestic unemployment rate. Indonesia's Economic Outlook In 2021. Languages For example, Indonesia's Exports rank is higher than 83.42% of the countries in the dataset. Foreign direct investment (FDI) in Indonesia soared 31.8% on a yearly basis in the first quarter in rupiah terms, the country's investment minister said on Wednesday, boosted by a broader rise in . Tourism is one of the sectors in the Indonesian economy that reasonably high competitiveness and continues to increase. Wednesday, 01 December 2021. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. The provincial, city, and regency governments in the country typically rely on the central government for financial support. Jakarta: GoTo soared as much as 23% in its stock market debut on Monday after Indonesia's largest tech company raised $1.1 billion in a widely anticipated IPO, fuelling expectations of more tech offerings in a fast-growing sector. Moreover, the external sector stands to strengthen due to higher commodity prices. Along with the escalation of the Covid-19 pandemic around the world, including Indonesia, an economic slowdown in both the real and financial sectors is inevitable. The health crisis has halted the economy in nearly all economic sectors with the top three sectors of Indonesia's economy (manufacturing, wholesale & retail trade, and construction sectors) experienced a more profound negative growth compared to the overall economy. . Related news: Minister expects I Do Care Program to revive Indonesia's tourism The second strategy, which is a major step in the economic recovery of the tourism and creative economy sectors implemented by the Communication and Information Technology Ministry, aims to prepare effective and interesting public communications. Tourism has become Indonesia's big asset, which is why this sector has a higher return for investment. Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector With extensive oil, gas and solid mineral deposits, it is also one of the largest global economies. This statistic shows the share of economic sectors in the gross domestic product (GDP) in Indonesia from 2010 to 2020. However, uncertainty remains very high and . Its growing middle class, emphasis on industrialisation and services, and drive to improve infrastructure are laying the . Consistently solid economic growth has some analysts arguing it could be the fifth-largest economy in the world by 2030 and fourth soon after. Many women in Indonesia, and globally, are employed in vulnerable sectors, such as in retail . 2022 Indonesia and Global Economic Outlook. Indonesia is one of the world's richest countries in terms of natural resources. For the year as a whole, the economy rebounded 3.7% in 2021 (2020: -2.1% yoy). President Joko Widodo gave clear instructions to capitalize on the digital transformation momentum brought about by the COVID-19 pandemic. Oxford Economics projected a robust growth for Indonesia's economy at 6.2% in 2022, supported by private consumption and fixed investment. Indonesia is widely seen as a future economic giant. Tourism. Indonesia is one of the DFC's priority markets and the DFC remains interested in projects in the transportation, energy, agriculture, health, and digital economy sectors. In response, the Government of Indonesia through the Ministry . The pace of economic contraction slowed to 3.5% year-over-year (yoy) in Q3 2020 from a 5.3% yoy in Q2 2020, driven by a partial recovery in consumption - including a . In 2017 the economy passed the $1trn mark, making it the 16th largest in the world. Indonesia issued Presidential Regulation 10 of 2021, which liberalizes many business sectors for foreign investment. Oxford Economics projected a robust growth for Indonesia's economy at 6.2% in 2022, supported by private consumption and fixed investment. This study found that the output from this sector supports approximately 7.86 % to the economy. Indonesia has played a modest role in the world economy since the mid-20th century, and its importance has been considerably less than its size, resources, and geographic position would seem to warrant. Today, it is the world's seventh-largest economy by purchasing power parity. While large, this downturn was smaller than other countries in the Asia Pacific region, reflecting less stringent containment measures and lower dependence on highly impacted sectors like tourism. Covering four sectors, namely the monetary sector, government finance, real sector and external sector, the data samples . In 2012 this sector employed around 49 million . The Indonesia Economic Prospects (IEP), a successor of the Indonesia Economic Quarterly, is a six-monthly World Bank report that aims to provide an impartial and up-to-date assessment of recent global and domestic macroeconomic developments, outlook and risks, as well as specific development challenges for the Indonesian economy. Indonesia's economic growth averaged 5.8% over the last decade. TRAMPIL, supported by the Asian Development Bank, offers policy recommendations in the context of Indonesia's economic and legal parameters on regional autonomy. Today, Indonesia is the world's fourth most populous nation and 10th largest economy in terms of purchasing power parity. This paper aims to identify the economic sectors that have the potential to achieve Sustainable Economic Growth (SEG) in both countries. CAREERS AND SCHOLARSHIPS It is predicted that by 2025, the digital economy in Indonesia will have reached $124 billion, up from $44 billion in 2020.Even during the COVID-19 pandemic, the country's digital sector is projected to grow by 10%, up from $40 billion in 2019 - far outpacing other sectors that are currently stagnating. With millions of hectares of arable land across over 17,000 islands, Indonesia's agriculture sector has long been an integral part of the economy. To facilitate investment in these zones, the government of Indonesia has instituted a number of incentives targeting investors setting up within SEZs and industrial parks. Indonesia and Brunei Darussalam have a significantly different economic structure where the Brunei Darussalam economy is very much dominated by oil and gas, whereas Indonesia is dominated by the manufacturing, trade, and agriculture sectors. Indonesia has had the highest tax > taxes on income, profits and capital gains > current LCU . The transportation and warehousing sector logged the highest growth of 25.1 percent, a contrast to the sector's negative growth of 13.12 percent during Q1. DUBLIN--(BUSINESS WIRE)--Apr 25, 2022--The "Indonesia Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2020-2025" report has been added to ResearchAndMarkets.com's offering.. The industrial sector is the sector that currently contributes most to Indonesia's annual GDP growth. The services sector is equally as important to Indonesia's economy, accounting for 43 per cent of GDP in 2015. South Asia Subregional Economic Cooperation (SASEC) With employees from more than 60 countries, ADB is a place of real diversity. Some of the major produce of Indonesia includes rice, tea, coffee, cocoa, spices, rubber, copra, peanuts, eggs, pork, poultry and palm oil. However, GDP growth has decelerated gradually since peaking at 6.5% in 2011 to 5.1% in 2014, its slowest since 2009. Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Indonesia, featuring details of key growth drivers. In 2020, the share of agriculture in Indonesia's gross domestic product was. The two most important sub-sectors of industry are mining and manufacturing, both being major pillars of the nation's economy since the 1970s, thus being engines of economic change and development during Suharto's New Order regime. Drivers of the country's economic growth shifted over the first quarter of 2019. Jakarta (ANTARA) - Indonesia's digital transformation focuses on 10 priority sectors to expedite the realization of digital infrastructure, government, economy, and society, according to the Communication and Informatics Minister Johnny G.Plate said. Services Sector in Economy MAR AGO ARG ARM BEL BRA CHN COG COL RUS CRI DEU DNKITA EGY GBR FRA GTM HKG IDN IND JPN KOR LKA POL MEX MYS NLD PAK PER PHL SAU SGP THA TUR USA VNM ZAF 20 30 40 50 60 70 80 90 6,5 7 7,5 8 8,5 9 9,5 10 10,5 11 DP) GDP per Capita 2010 (ln) Source: WDI 2010 . FocusEconomics Consensus Forecast panelists expect GDP to expand 5.2% in 2022, which is unchanged from last month's forecast. More: Indonesia's tech sector to grow exponentially in 3 years, with projections of up to $300 billion The food and beverage, and accommodation sectors followed suit, logging a 21.58 percent growth from only 7.26 percent in Q1. Indonesia's economic transformation, which is a major strategy to recover from the Covid-19 pandemic, requires research and innovation as the key to increasing productivity. The largest economy in Southeast Asia, Indonesia - a diverse archipelago nation of more than 300 ethnic groups - has charted impressive economic growth since overcoming the Asian financial crisis of the late 1990s. A shift toward the collection of their own tax revenues . Indonesia: Digital Economy Opportunities. Major industrial sectors include petroleum and natural gas, textiles and apparel, mining, footwear, plywood, rubber and chemical fertilisers. Indonesia Economy Data Sample Report Indonesian Economic and Financial Statistics (SEKI) are published monthly, presenting economic and financial data to help users understand economic and financial developments in Indonesia. From The Report: Indonesia 2020. Work with us to find fulfillment in sharing your knowledge and skills, and be a part of our vision in achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific. There are four sectors showing improvements which are the processing industry, warehouse transportation, retail and major trades, as well as food and beverage, and accommodation supplies. It is the 15th largest economy in the world by nominal GDP and the 7th largest in terms of GDP (PPP).Estimated at US$40 billion in 2019, Indonesia's Internet economy is expected to cross . President Joko Widodo gave clear instructions to capitalize on the digital transformation momentum brought about by the COVID-19 pandemic. BPPT Building II, Jakarta, 10340, Indonesia Abstract The paper investigates the role of the marine sector into Indonesian economy. In 2020, preliminary figures showed that the manufacturing sector contributed to approximately 20 percent of Indonesia's GDP. Observing deeper to its sectors, the top four sectors of Indonesia's economy (i.e., manufacturing, wholesale & retail trade, construction, and mining & quarrying sectors) which accounted for more than half of the GDP, still experienced a negative growth in Q3 2020. The trading and processing sectors noted a 9.44 percent and 5.58 percent growth, respectively. Indonesia ranked first for GDP > composition by sector > industry amongst Emerging markets in 2012. Moreover, economic downturn was also fully reflected in the Indonesia's digital roadmap 2021-2024 will accelerate the country's digital transformation agenda. The sectors that had the most improvement between 2003 and 2006 include mining, electricity, gas, and water, transport, and communication. Bank DBS Indonesia through DBS Treasures and Manulife Aset Manajemen Indonesia (MAMI) presented a market outlook titled "2022 Leap Ahead: Economy Reopening & Strategic Sector Rotation" to provide insight into investment opportunities for customers. The position Dubbed the positive investment list, the regulation liberalizes over 245 business lines, including important sectors, such as transportation, energy, and telecommunications. public policy debate and is geared towards a wide audience, including the general public, the government, the private sector, civil society organizations, and other domestic and international stakeholders. Growth picked up in the final quarter of 2021, with GDP increasing 5.0% on an annual basis (Q3: +3.5% year-on-year). Indonesia: Digital Economy Opportunities. Indonesia's economy is expected to grow by 3.5% in 2021 and by 4.8% in 2022 amid the coronavirus (COVID-19) pandemic, according to a report released today by the Asian Development Bank. The country is a major exporter of crude petroleum and natural gas. Meanwhile, the State of the Global Islamic Economy Report 2020-2021 ranked Indonesia's Islamic economic indicators at number 4 in the world, up one position from last year's. Consumer spending is expected to be boosted in 2022 and 2023 as pent-up demand is expected to be released in 2022, especially with the . Indonesia - GDP GDP growth picks up in the fourth quarter. GMV of internet economy Indonesia 2015-2025, by sector. Agriculture, Livestock, Forestry, and Fishery This industry, which is regulated and overseen by the Indonesia Ministry of Agriculture, is among the key ones in the economy of Indonesia. Special Economic Zones (Kawasan Ekonomi Khusus or KEKs) The government as a regulator and supervisor has an important role in promoting research and innovation, as well as the building of a robust knowledge and innovation ecosystem. JAKARTA, INDONESIA (3 April 2020) — Indonesia's economy is expected to grow by 2.5% in 2020 amid the novel coronavirus disease (COVID-19) pandemic, down from 5.0% in 2019, according to an Asian Development Bank (ADB) report released today. In addition, Indonesia is one of the world's main suppliers of rubber, coffee, cocoa, and palm oil; it also produces a wide . The economy of Indonesia is the largest in Southeast Asia and is one of the emerging market economies. adjective: Indonesian Ethnic groups Javanese 40.1%, Sundanese 15.5%, Malay 3.7%, Batak 3.6%, Madurese 3%, Betawi 2.9%, Minangkabau 2.7%, Buginese 2.7%, Bantenese 2%, Banjarese 1.7%, Balinese 1.7%, Acehnese 1.4%, Dayak 1.4%, Sasak 1.3%, Chinese 1.2%, other 15% (2010 est.) Indonesia ranked first for tax > GDP > current LCU amongst Hot countries in 2012. Indonesia's economic growth averaged 5.8% over the last decade. Manufacturing sectors which absorb highest numbers of workers are textile, footwear, food . However, GDP growth has decelerated gradually since peaking at 6.5% in 2011 to 5.1% in 2014, its slowest since 2009. The initial public offering (IPO) is the world's fifth-largest this year, Refinitiv data shows, and came at a time when many companies delayed launches due to the . 28th April 2021. Nevertheless, for the majority of Indonesian households, farming and plantation remains as a vital income generator. Indonesia's economy is slowly recovering during the second half of 2020 aided by the gradual re-opening of the domestic and global economies and massive policy support. For the full list of economic and other international organisations in which participates Indonesia click here. Indonesia has joined the Multilateral Investment Guarantee Agency (MIGA). In comparison to Q2 2020, the economy has grown by 4.7%, indicating a positive move towards recovery. Manufacturing sector in Indonesia is targeted to provide employment to 16.3 million workers this year, or up 5 percent from 15.5 million workers last year. Growth could accelerate to 5.0% in 2022 driven by reduced uncertainty and assuming that the vaccine rollout reaches a critical mass of the population in the fourth quarter of 2021. Economy Latest Trend Ranking; Composite leading indicator (CLI) Indicator 96.77 Amplitude adjusted Long-term average = 100 Feb-2022 Indonesia Long-term average = 100 FDI stocks Indicator: 8.4 Outward % of GDP 2020 Indonesia % of GDP Outward Sectors that contributing more than 30% to domestic economic activity - manufacturing and wholesale & retail trade sectors - are also affected. On a quarter-to-quarter basis, all economic sectors have experienced positive growth. The Indonesia Economic Prospects (IEP) is a bi-annual World Bank report that assesses recent macroeconomic developments, outlook and risks, . The Economic of Marine Sector in Indonesia Nurkholis a , Didi Nuryadin b , Noor Syaifudin c,d *, Rangga Handika e , Roy Hendroko Setyobudi f,g , Didit Welly Udjianto b Agriculture on the other hand only accounted for 14 per cent. Indonesia is now looking at its fifth consecutive year of subdued growth at about 5 per cent, down from more than 6 per cent during the commodity boom and well below government ambitions to reach 7-8 per cent. 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. The Indonesia Retail Market Share is expected to increase by USD 37.32 billion from 2020 to 2025 at an accelerated CAGR of 4%, according to the recent market study by Technavio. The country has maintained a stable economic growth, which consistently remained within a narrow range of 4.9-5.3% for the last 14 quarters. It also presents an introduction to the three main economic sectors of Indonesia (agriculture, industry and services) and expounds on the contribution of these three sectors to Indonesia's national economy.