The country’s infrastructure deficit has been identified as an opportunity to further economic growth. To this end, there are 223 separate infrastructure projects in the pipeline expected to cost $307bn, including new roads, ports, airports, power plants and health care facilities. To date, state-owned enterprises (SOEs), such as local...
As the most populous Muslim country in the word, Indonesia is developing itself as a centre for sharia-compliant banking, seeking to turn this speciality from a niche activity to a major sector growth driver. The authorities have applied new laws and regulations for Islamic finance they hope will boost the penetration rate beyond the current...
Indonesia, one of the richest countries in natural resources with extensive oil, gas and solid mineral deposits, is also one of the largest global economies. In 2017 the economy passed the $1trn mark, making it the 16th-largest in the world. Its growing middle class, emphasis on industrialisation and services, and drive to improve...
Indonesia has made significant progress in expanding trade relationships with two major trade partners under the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) and the Indonesia-European Free Trade Association Comprehensive Economic Partnership (IE-CEPA), with both deals set to reduce trade barriers and provide new...
Foreign direct investment (FDI) inflows into Indonesia reversed a five-year trend in 2018 when they contracted for the first time in five years, with total estimated FDI inflows estimated to be down nearly 9% year-on-year. The country is facing several challenges as it seeks to boost investment – outward investment from China has been slowing...
Despite the rupiah sinking to its lowest level in over two decades, consumer spending in Indonesia expanded. Retail sales grew by 3.7% in 2018 from 2.9% in 2017. Household consumption rose 5.5% in 2018, up from 4.9% the year before. Clothing sales were particularly robust, jumping 15.1% compared to 1% in 2017. Automotive sales also increased...
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