Indonesia: Facts & Stats

ECONOMY

Industry:

Industries which process Indonesia's abundance of natural resources include those based on petroleum, wood, sugar, rubber, tea, coconuts, palm kernels, sisal, kapok, rice, and cassava. Manufactured products include consumer goods such as tires and tubes, rubber shoes, radios, batteries, soap, margarine, cigarettes, light bulbs, textiles, glass, paper, tractors, and trucks. Other industries established in recent decades include the Krakatau Steel Industrial Estate at Cilegon (in northwest Java), plywood factories, cement works, spinning mills, knitting plants, iron works, copper and other foundries, a ceramics plant, a leather-goods plant, and a glass factory, and the manufacture of petrochemicals and urea fertilizers, as well as, most ambitiously, facilities for automobile assembly, shipbuilding and aircraft manufacture.

The petroleum refining industry has not grown significantly over the last decade. In 1992, Indonesia had six refineries, all operated by Pertamina, the state oil company. Production of refined products was 572.8 million barrels, which is 38% higher than the annual production from Indonesia's now eight state-owned refineries in 2001, operating at 96% capacity.

The steel industry in Indonesia basically consists of one large integrated mill, the PT Krakatau Steel complex plus numerous mini mills that use scrap steel as their raw material input. In 1992 steel billet production was 560,000 tons. In 2000, total steel billet capacity was 2.34 million tons across 11 companies, but the plants were only running at 60% capacity.

Indonesia produces nitrogen, phosphate and potash fertilizers, but the strongest prospects are for the urea industry because of Indonesia's natural gas deposits. In 2001, urea production was6.954 million tons, above the total fertilizer production for 1992, which was 6.5 million tons.

Wood and wood products have traditionally been Indonesia's second-largest industrial export group, accounting for 11% or 12% of total export value, though electronic some times claims a larger share. The robust growth in the output of wood and wood products, from 4 million cm in 1967 to an estimated 60 to 70 million cm in 2001, is the cause of international controversy because of the rapid deforestation involved.

Agriculture:

About 45% of Indonesian workers are engaged in agriculture, which accounts for 17% of GDP in 2001. Some 31 million ha (76.6 million acres) are under cultivation, with 35% to 40% of the cultivated land devoted to the production of export crops. Some 60% of the country's cultivated land is in Java.

There are three main types of farming: smallholder farming (mostly rice), smallholder cash cropping, and about 1,800 large foreign-owned or privately owned estates, the latter two producing export crops. Small-scale farming is usually carried out on modest plots those in Java average about 0.8–1 ha (2–2.5 acres) often without benefit of modern tools and methods, good seed, or fertilizer. Although rice, vegetables, and fruit constitute the bulk of the small farmer's crops, about 20% of output is in cash crops for export, the chief of which is rubber.

Rice is the primary staple crop; production in 2001 totaled 50,461,000 tons. Other staple crops in 1999 included cassava (15,422,000 tons), corn (9,139,000 tons), and sweet potato (1,928,000 tons). Vegetable production in 2000 included 1,366,410 tons of cabbages, 772,818 tons of shallots, and 454,815 tons of mustard greens. Sugar is the largest commercial crop, with production reaching 26,000,000 tons in 1999. About 1,564,000 tons of rubber were produced in 1999, as compared with about 648,400 in 1964.

Banking:

Indonesia currently has 124 commercial banks, of which 10 are majority foreign-owned and 28 are foreign joint venture banks. The top 15 banks control about 70% of assets in the sector. Four state-owned banks (Bank Mandiri, BNI, BRI, BTN) control about 37.4% of assets. The Indonesian central bank, Bank Indonesia (BI), announced plans in January 2005 to strengthen the banking sector by encouraging consolidation and improving prudential banking and supervision. BI hopes to encourage small banks with less than Rp 100 billion (about U.S. $11 million) in capital to either raise more capital or merge with healthier "anchor banks" before end-2010, announcing the criteria for anchor banks in July 2005. In October 2006, BI announced a single presence policy to further prompt consolidation.

The policy stipulates that a single party can own a controlling interest in only one banking organization. Controlling interest is defined as 25% or more of total outstanding shares or having direct or indirect control of the institution. BI planned to adopt Basel II standards beginning in 2009 and to improve operations of its credit bureau to centralize data on borrowers.

Another important banking sector reform was the decision to eliminate the blanket guarantee on bank third-party liabilities. BI and the Indonesian Government completed the process of replacing the blanket guarantee with a deposit insurance scheme run by the independent Indonesian Deposit Insurance Agency (also known by its Indonesian acronym, LPS) in March 2007. The removal of the blanket guarantee did not produce significant deposit outflows from or among Indonesian banks. Sharia banking has grown in Indonesia in recent years, but represents only 2.05% of the banking sector, about $4.1 billion in assets as of November 2008.

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