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ECONOMIC STRUCTURE
A. Gross Domestic Product
The growth of the Indonesian economy during the period 2000-2002 showed respectably positive figures. In 2000 it reached 4,92%, and although it has slightly reduced in 2001 to 3,32%, it roused again to 3,66% in 2002. Indonesia’s GDP for the same period showed a tendency to increase annually: from 1,282 trillion rupiah in 2000, to 1,491 trillion rupiah the next year, reaching 1,610 trillion rupiah in 2002.
|
No. |
Description |
2000 |
2001 |
2002 |
|
1. |
GDP at current market price (in trillion rupiah) |
1,282 |
1,491 |
1,610 |
|
2. |
GDP growth (%) |
4,92 |
3,32 |
3,66 |
|
3. |
GDP per capita (in thousand rupiah) |
6.301,2 |
7.216,9 |
n/a | (source: Indonesia`s Central Board of Statistic) |
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No. |
Descriptions |
2000 |
2001 |
2002 |
|
Growth (%) |
Contrib. to GDP |
Growth
(%) |
Contrib. to GDP |
Growth
(%) |
Contrib. to GDP |
|
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GDP by economic sector: |
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1. |
Agriculture, Livestock, Forestry and Fishery |
1,88 |
17,23 |
0,98 |
16,99 |
1,74 |
17,47 |
|
2. |
Mining and Quarrying |
5,51 |
13,86 |
(0,00) |
13,23 |
2,25 |
11,91 |
|
3. |
Manufacturing Industry |
5,98 |
24,90 |
4,10 |
24,98 |
4,01 |
25,01 |
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4. |
Electricity, Gas, Water Supply |
7,56 |
1,31 |
7,65 |
1,46 |
6,17 |
1,81 |
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5. |
Construction |
5,64 |
6,05 |
4,21 |
5,88 |
4,11 |
5,74 |
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6. |
Trade, Hotel and Restaurant |
5,67 |
15,74 |
5,34 |
16,16 |
3,61 |
16,08 |
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7. |
Transport Communication |
8,59 |
4,93 |
7,34 |
5,23 |
7,83 |
6,05 |
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8. |
Financial, Ownership and Business Services |
4,59 |
6,36 |
3,42 |
6,31 |
5,55 |
6,56 |
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9. |
Services |
2,33 |
9,63 |
2,04 |
9,75 |
1,98 |
9,38 | (Source: Indonesia’s Central Board of Statistic) |
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B. Consumer Prices Indices
Since the financial crisis of 1997-1998 Indonesia’s inflation has been moderate. During the period of 2000 to 2002, the average number is around 10%. The government policies aimed at containing inflation continue to assure strong and economic growth as well as a conducing business climate. The Indonesian government has gone all-out in resolving the economic crisis, which, among others, is cooperation with various international financial institutions like the World Bank and International Monetary Funds (IMF).
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No. |
Year |
Inflation |
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1. |
2000 |
9,3% |
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2. |
2001 |
12,5% |
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3. |
2002 |
10% |
| (source: Indonesia`s Central Board of Statistic) | |
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C. Investment Performance
1. Foreign Direct Investment
Since the foreign investment law was enacted in 1967, up to 30 of November 2003, foreign investment approvals have reached a total value of US $ 271,203.4 billon, with 12.942 projects excluding investment in oil and gas mining, banking and financial services.
Trend of Investment Approvals 1967/1968 – November 30, 2003 :
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No. |
Year |
Project |
Value (US$ Mill) |
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1. |
2000 |
1.542 |
16,075.6 |
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2. |
2001 |
1.334 |
15,056.3 |
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3. |
2002 |
1.151 |
9,795.4 |
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4. |
2003 |
891 |
12,491.0 |
| (source: Investment Coordinating Board) |
2. Foreign Direct Investment by Sector
Foreign Direct Investment in the 24 sectors, excluding the sectors of Oil & Gas, Banking, Non Bank Financial Institution, Insurance and Leasing, are as follows : |
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No. |
Sector |
2000 |
2001 |
2002 |
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Project |
Value |
Project |
Value |
Project |
Value |
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Primary Sector |
74 |
594.8 |
55 |
511.7 |
41 |
508.2 |
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1. |
Food Crops Plantation |
26 |
441.6 |
20 |
270.4 |
14 |
424.7 |
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2. |
Livestock |
4 |
38.6 |
2 |
13.5 |
3 |
21.6 |
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3. |
Forestry |
3 |
6.5 |
3 |
101.2 |
1 |
8.6 |
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4. |
Fishing |
13 |
49.5 |
8 |
6.9 |
9 |
4.0 |
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5. |
Mining |
28 |
58.6 |
22 |
119.7 |
14 |
49.3 |
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Secondary Sector |
499 |
10,759 |
426 |
5,148.7 |
335 |
3,258.2 |
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6. |
Food Industry |
42 |
759.5 |
28 |
289.1 |
24 |
267.4 |
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7. |
Textile Industry |
74 |
205.6 |
57 |
329.9 |
44 |
93.3 |
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8. |
Leather Goods & Footwear Industry |
31 |
205.4 |
29 |
32.6 |
7 |
13.8 |
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9. |
Wood Industry |
35 |
124.2 |
29 |
23.4 |
19 |
30.3 |
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10. |
Paper & Printing Industry |
20 |
90.4 |
13 |
742.1 |
9 |
10.0 |
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11. |
Chemical & Pharmaceutical Industry |
37 |
7,288.9 |
33 |
2,309.9 |
29 |
1,872.3 |
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12. |
Rubber and Plastic Industry |
51 |
166.4 |
44 |
225.9 |
32 |
283.2 |
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13. |
Non Metallic Mineral Industry |
8 |
8.8 |
12 |
108.1 |
7 |
32.7 |
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14. |
Metal, Machinery & Electronic Industry |
111 |
1,524.0 |
104 |
653.0 |
92 |
349.1 |
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15. |
Medial Preci. & Optical Instru, Watch & Clock |
5 |
67.6 |
1 |
31.0 |
3 |
3.2 |
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16. |
Motor vehicles & Other Transport Equip. Industry |
24 |
241.2 |
43 |
355.1 |
40 |
266.0 |
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17. |
Other Industry |
61 |
77.6 |
33 |
48.6 |
29 |
36.9 |
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Tertiary Sector |
969 |
4,721.2 |
853 |
9,395.9 |
775 |
6,029.0 |
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18. |
Electricity, Gas & Water Supply |
2 |
1.2 |
4 |
37.3 |
3 |
90.2 |
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19. |
Construction |
30 |
194.9 |
29 |
47.6 |
40 |
282.1 |
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20. |
Trade & Repair |
506 |
1,975.5 |
448 |
340.8 |
448 |
876.2 |
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21. |
Hotel & Restaurant |
49 |
283.2 |
50 |
6,891.8 |
46 |
254.8 |
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22. |
Transport, Storage & Communication |
68 |
1,163.4 |
84 |
376.4 |
66 |
3,713.3 |
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23. |
Real Estate, Ind. Estate & Business Activities |
29 |
174.7 |
20 |
177.5 |
6 |
7.3 |
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24. |
Other services |
285 |
928.3 |
218 |
1,524.5 |
166 |
805.1 |
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TOTAL |
1.542 |
16,075.6 |
1.334 |
15,056.3 |
1.151 |
9,795.4 | (in US $ Million, source : Investment Coordinating Board) |
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3. Domestic Investment
Investment by domestic investors still constitutes the larger portion of the over-all direct investment activities in Indonesia. Since the domestic investment law was enacted in 1967, up to 30 of November 2003, domestic investment approvals have reached a total value of 921,574.7 billion rupiah with 13.574 projects.
Trend of Domestic Investment Approvals 1967/1968 – November 30, 2003 :
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No. |
Year |
Project |
Value (US$ Mill) |
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1. |
2000 |
392 |
94,025.3 |
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2. |
2001 |
264 |
58,816.0 |
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3. |
2002 |
188 |
25,230.5 |
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4. |
2003 |
174 |
46,841.1 |
| (in Billion Rupiah, Source : Investment Coordinating Board) | |
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4. Domestic Investment By Sectors
Domestic Investment in the 24 sectors, excluding the sectors of Oil & Gas, Banking, Non Bank Financial Institution, Insurance and Leasing, are as follows: |
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No. |
Sector |
2000 |
2001 |
2002 |
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Project |
Value |
Project |
Value |
Project |
Value |
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Primary Sector |
55 |
5,326.5 |
28 |
2,516.5 |
21 |
2,173.9 |
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1. |
Food Crops Plantation |
31 |
3.636,8 |
12 |
722.3 |
11 |
1,344.6 |
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2. |
Livestock |
3 |
63.3 |
1 |
41.0 |
- |
124.2 |
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3. |
Forestry |
- |
- |
- |
390.9 |
- |
- |
|
4. |
Fishing |
8 |
782.6 |
5 |
164.2 |
- |
1.5 |
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5. |
Mining |
13 |
843.8 |
10 |
1,198.1 |
10 |
703.6 |
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Secondary Sector |
211 |
84,197.2 |
141 |
44,387.3 |
104 |
15,856.3 |
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6. |
Food Industry |
46 |
9,691.3 |
46 |
11,375.8 |
35 |
4,998.2 |
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7. |
Textile Industry |
14 |
2,237.1 |
10 |
2,217.4 |
9 |
431.5 |
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8. |
Leather Goods & Footwear Industry |
8 |
120.4 |
5 |
67.3 |
1 |
24.0 |
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9. |
Wood Industry |
14 |
220.3 |
9 |
629.5 |
11 |
311.0 |
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10. |
Paper & Printing Industry |
10 |
8,535.3 |
9 |
4,771.1 |
5 |
165.1 |
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11. |
Chemical & Pharmaceutical Industry |
26 |
55,276.2 |
20 |
22,336.8 |
16 |
2,024.8 |
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12. |
Rubber and Plastic Industry |
29 |
1,651.9 |
10 |
594.9 |
9 |
420.8 |
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13. |
Non Metallic Mineral Industry |
8 |
3,551.3 |
6 |
623.5 |
2 |
181.1 |
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14. |
Metal, Machinery & Electronic Industry |
19 |
676.7 |
9 |
370.7 |
10 |
7,179.2 |
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15. |
Medial Preci. & Optical Instru, Watch & Clock |
1 |
22.6 |
- |
- |
- |
- |
|
16. |
Motor vehicles & Other Transport Equip. Industry |
30 |
2,096.8 |
12 |
1,338.4 |
4 |
115.2 |
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17. |
Other Industry |
6 |
117.3 |
5 |
61.9 |
2 |
5.7 |
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Tertiary Sector |
126 |
4,501.6 |
95 |
11,912.2 |
63 |
7,200.3 |
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18. |
Electricity, Gas & Water Supply |
1 |
100.0 |
- |
- |
1 |
5.4 |
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19. |
Construction |
5 |
62.2 |
9 |
2,021.8 |
7 |
1,623.9 |
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20. |
Trade & Repair |
28 |
258.3 |
5 |
82.9 |
19 |
485.0 |
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21. |
Hotel & Restaurant |
8 |
186.8 |
7 |
2,459.0 |
9 |
703.5 |
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22. |
Transport, Storage & Communication |
50 |
2,462.2 |
59 |
1,510.1 |
15 |
3,125.7 |
|
23. |
Real Estate, Ind. Estate & Business Activities |
6 |
265.6 |
6 |
4,296.1 |
- |
3.1 |
|
24. |
Other services |
28 |
1,166.5 |
9 |
1,542.3 |
12 |
1,253.7 |
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TOTAL |
392 |
94,025.3 |
264 |
58,816.0 |
188 |
25,523.0 | (in Billion Rupiah, source : Investment Coordinating Board) |
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