Based on the latest data from Indonesia’s Statistical Agency (Badan Pusat Statistik, BPS), which were released on 16 November 2020, Indonesia recorded an impressive USD $3.61 billion trade surplus in October 2020. The surplus is at a level we had not seen since the final stages of the 2000s commodities boom (late-2011 to be exact).
Indonesian Ambassador to the United States Muhammad Lutfi (left) stands next to Coordinating Maritime Affairs and Investment Minister Luhut Binsar Pandjaitan (center), and Export-Import Bank of the United States (EXIM) president Kimberly Reed at the signing of a memorandum of understanding (MoU) in Washington DC on Nov. 18.
President Joko Widodo released export of various Indonesian products simultaneously in 16 provinces with total amount US$1.64 billion on Friday (04/12). The exported products range from furniture, automotive, food to unique products such as cow beds to water hyacinth.
By Dr Lili Yan Ing, ERIA's Senior Economist: Previous crises — whether trade driven, financial or economic — teach us that such predicaments hit the demand side of the economy the hardest. But COVID-19 has shaken the world from both the demand and supply sides at the same time.
The free trade deal between Indonesia and Australia that completely removes most trade tariffs for the products of the two nations and aims to ramp up investment has taken effect, Indonesian Trade Minister Agus Suparmanto said here.
(RTTNews) - Indonesia's trade surplus increased in June, as exports increased unexpectedly and imports declined, figures from Statistics Indonesia showed on Monday.
Indonesia booked a trade surplus of US$1.27 billion in June as both exports and imports rose from the slump recorded in May, signaling increasing economic activity as the country and its trading partners have begun to lift coronavirus-induced restrictions.
Indonesia hopes to conclude negotiations for a trade agreement with the European Union next year to bolster the country’s economic recovery after the pandemic, but policies on palm oil remain a major sticking point.
Indonesia and Australia have agreed to implement the Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) on July 5, according to the Indonesian Trade Ministry. Indonesia ratified the partnership agreement in late February....
JAKARTA (Reuters) - Indonesia may have swung back to a trade deficit in April as both exports and imports contracted amid restrictions imposed across the globe to contain the spread of the new coronavirus, a Reuters poll showed on Wednesday. Fifteen analysts in the poll gave a wide range of predictions for April trade balance, from a $1.4 billion deficit to a surplus of $1.2 billion....
After nearly 10 years of negotiations, countdown has today begun on the entry-into-force of the Australia-Indonesia Comprehensive Economic Partnership Agreement (IA-CEPA). The Indonesian Government today notified the Australian Government that it had ratified the treaty. This notification initiates a 60-day countdown....
JAKARTA, May 11 (Reuters) - Indonesia’s government and a parliamentary committee overseeing mineral resources on Monday agreed on revisions to the country’s mining law which include changes to the rules on concession size and the permit length. Under the proposed revision to the 2009 mining law, miners will be allowed to ask the mining minister for an expansion of their mining area beyond....
Singapore — A free trade agreement between Australia and Indonesia announced on Thursday, that will officially come into force on July 5, could potentially improve new crop exports for Australian wheat, market sources said. Under the bilateral agreement, wheat growers are granted duty-free exports of up to 500,000 mt of feed grains to Indonesia -- including wheat, sorghum and barley.....
Indonesia’s exports of agricultural commodities have continued despite logistical disruptions caused by measures to contain the COVID-19 pandemic. The Agriculture Ministry officially dispatched a shipment of 94,000 tons of agricultural commodities including mangosteen, ornamental plants, coconut water, nutmeg and cloves last week to 43 countries in Asia and Europe through the country’s nine main ports....
Eisya A. Eloksari The Jakarta Post/Jakarta The COVID-19 pandemic has put the global economy on a gloomy trajectory with small and established businesses alike hard hit. The government has slashed its GDP growth projection to between 0.4 and 2.3 percent this year, significantly lower than its initial estimate of 5.3 percent. However, a number of funding deals...
The Asian Development Bank (ADB) will lend Indonesia $300m to help expand its geothermal power generation capacity by 110 megawatts in Java, the country’s largest electricity grid. The money will fund construction and commissioning of two geothermal plants at Dieng in Central Java and Patuha in West Java by PT Geo Dipa Energi (GDE), an Indonesian state-owned geothermal enterprise....
Indonesia needs a regulatory framework that supports its mission to attract green investment, experts say, as awareness about sustainability grows among the general public. Green investment, as the name implies, is a form of socially responsible investing where investments are made in companies that support or provide environmentally friendly products and practices....
Restrictions in trade relations with China due to the outbreak of the coronavirus have prompted Indonesia to increase exports of its seafood products to other major markets, including the United States and European countries, Antara News reported 18 April, citing comments from Director General of Competitiveness Strengthening at Indonesia’s Ministry of Maritime Affairs and Fisheries Nilanto Perbowo...
Sustainable Seafood Market report provide the COVID19 Outbreak Impact analysis of key factors influencing the growth of the market size (Production, Value and Consumption). This Sustainable Seafood industry splits the breakdown (data status 2014-2019 and Six years forecast 2020-2026), by manufacturers, region, type and application...
JAKARTA — Fishers are taking advantage of a perceived drop in enforcement amid the COVID-19 crisis to operate illegally in Indonesian waters, officials say. Indonesia has since November 2014 banned foreign fishing boats from operating in its waters, home to some of the world’s richest fish stocks. Indonesian fisheries law also bans destructive fishing methods, including the use of explosives and cyanide...
JAKARTA (TheInsiderStories) – Rating and Investment Information, Inc. (R&I) upgrades Indonesia’ sovereign credit rating from BBB/stable outlook to BBB+/stable outlook (investment grade), the agency announced on March 17. President Joko Widodo, said the rated, is firmly implementing policies to strengthen economic growth potential, on the back of a political foundation solidified in his second term...
Indonesia will issue a government regulation in lieu of law (Perppu) that will boost state spending by up to Rp 405.1 trillion (US$24.6 billion) as the budget deficit is anticipated to widen to 5.07 percent of GDP in the nation’s fight against COVID-19...
Despite its close proximity and trade ties to China, where the outbreak began in December 2019, Indonesia did not report its first two confirmed cases until March 3. As such, travel and leisure activities continued largely as normal through much of the first quarter, although several restrictive measures were gradually imposed, including the one-month suspension of the visa-exemption policy for all countries starting March 20...
Jakarta. Indonesia's trade balance returned to the black last month because imports from China dropped by almost half as the world's second-largest economy dealt with the peak of the novel coronavirus outbreak...
Suresh Tantia of Credit Suisse tells CNBC that Indonesia’s attractive market value makes it an exciting spot for investors...
JAKARTA, March 13 (Reuters) - Indonesia announced a 120 trillion rupiah ($8.1 billion) stimulus package on Friday to support Southeast Asia’s biggest economy as the spread of the coronavirus disrupts global activity...