News

Indonesia Posts Largest Ever Trade Surplus
02 Jun 2022
Indonesia's trade surplus jumped to its largest ever at USD 7.56 billion in April, as exports rose to a record high while imports grew slower than expected, data from the statistics bureau showed recently. Indonesia, a major exporter of many commodities such as thermal coal, palm oil and nickel, has reported a trade surplus every month in the past two years, enjoying an export boom and rising prices of commodities. April exports were worth USD 27.32 billion, up 47.76% on a yearly basis, outdoing the poll's prediction of a 35.97% increase, with shipments of mining and oil and gas products driving growth.   https://www.reuters.com/markets/asia/indonesia-posts-largest-ever-trade-surplus-76-bln-april-2022-05-17
Foreign Tourists Visit To Indonesia Increased As Tourism Continues To Recover
02 Jun 2022
The Central Statistics Agency (BPS) noted that the number of foreign tourists visiting the main entrance increased by more than 200 percent year-on-year. This increase is a signal of recovery in the tourism sector and helps in economic growth. Keep in mind, that tourism that recovers will have an e­ffect on various economic improvements. “Tourist visits provide a multiplier e­ffect on the economy. If tourism recovers, it will accelerate economic recovery in Indonesia," said the Head of BPS, Margo Yuwono. Meanwhile, the Minister of Tourism and Creative Economy (Parekraf ) Sandiaga Salahuddin Uno said that with the recovery of tourism, it would have an impact on opening up job opportunities. In addition to the economic revival, with unemployment reduced by 350,000 people, Sandiaga and his party will secure the creation of 400,000 jobs in the tourism sector.   https://m.bisnis.com/amp/read/20220509/12/1531243/kunjungan-turis-asing-ke-ri-naik-200-persen-pariwisata-terus-pulih 
Indonesia Secures USD 15 Billion Investment For Electric Battery Industry
10 May 2022
Industri Baterai Indonesia, an electric battery joint venture of state-owned miners and energy companies, announced two-part investments from Chinese and South Korean companies worth USD 15 billion to develop an electric vehicle battery ecosystem in the country. The company, also known as Indonesia Battery Corporation (IBC), is a subsidiary of the state mining holding company Indonesia Asahan Aluminium (Mind ID), utility firm Perusahaan Listrik Negara (PLN), state energy company Pertamina, and state miner Antam. The first part of the investment concerns one of the company's parent companies Antam with a Chinese corporation, Ningbo Contemporary Brunp Lygend (CBL), for the integrated electric vehicle battery project initiative. The second partnership is with LG Energy Solution, a South Korean company.   https://jakartaglobe.id/business/indonesia-secures-15b-investment-for-electric-battery-industry
Indonesian Economy Maintains Steady Growth Momentum In The First Quarter Of 2022
10 May 2022
A historic rise in commodity prices and relaxation of COVID-19 curbs helped Indonesia's economy grow for a fourth straight quarter between January and March, o­cial data showed on Monday (May 9th). Southeast Asia's largest economy grew 5.01 per cent in January-March from the same period last year, compared with 5.02 per cent growth in October-December. A median forecast by 19 analysts polled by Reuters had expected 5.00 per cent growth in the first quarter. Growth in the January-March period was supported by recovery in consumption, investment and exports. Surging prices of global commodities such as coal, palm oil and nickel, also contributed to record high trade surpluses for Indonesia, a major supplier of these resources.   https://www.channelnewsasia.com/business/indonesian-economy-maintains-steady-growth-momentum-q1-2672681
Indonesia Manufacturing Purchasing Managers Index Reflects The Sixth Straight Month Of Expansion
04 Apr 2022
The IHS Markit Indonesia Manufacturing Purchasing Managers Index (PMI) fell to 51.2 in February 2022 from 53.7 a month earlier. Still, the latest fi­gure represented the sixth straight month of expansion in factory activity. Employment went up the most in a year, as manufacturers ramped up their workforce capacity ahead of the fasting month of Ramadan. Backlogged work continued to accumulate in February but at a marginal pace. Vendor performance improved for a second time this year, amid requests for quicker deliveries.
Indonesia Waives Quarantine For All Fully Vaccinated Foreign Arrivals
04 Apr 2022
The government is set to stop requiring quarantine for fully vaccinated international visitors entering the country on Tuesday, as it seeks to boost foreign tourist arrivals. Tourism and Creative Economy Minister Sandiaga Salahuddin Uno announced the decision, expressing hope that the new policy would help revive the country’s tourism industry and create new economic opportunities for locals.
Toyota Indonesia Hits Two Million Exports Milestone
06 Mar 2022
  Toyota Motor Manufacturing Indonesia, the local unit of Japanese auto giant Toyota, reached a new milestone by hitting the 2 million mark of its export sales from the country. “I was just told that the export sales encompassed nearly 80 countries in four continents and I’m also happy with the fact that the local content of the domestically-produced cars has exceeded 75 percent,” the president said in his remarks. In addition, Indonesia also exported 85 million pieces of auto parts worth Rp 29.13 trillion. Industry Minister Agus Gumiwang Kartasasmita said that Toyota Group has pledged Rp 28.3 trillion (USD 2 billion) in new investment in Indonesia until 2024. Export sales by Toyota Motor Manufacturing Indonesia totaled 119,000 units, accounting for around 40 percent of Indonesia’s overall auto export volume.   https://jakartaglobe.id/business/toyota-indonesia-hits-2-million-exports-milestone
Sharp Begins The Construction Of A USD 40.5 Million AC Plant In Indonesia
06 Mar 2022
Sharp Electronics Indonesia, the local subsidiary of the Japanese electronics giant, has started constructing an air conditioner factory in Karawang, West Java, setting up a new export base for the Southeast Asia region. The company said it has set aside Rp 582 billion (USD 40.5 million) in investment for the new plant, which would take up 3.5 hectares of land at Karawang International Industrial City (KICC). Sharp expected the new factory would be ready for operation at the beginning of next year, with a production capacity of between 900,000 and 1.05 million AC units per year. Minister of Industry Agus Gumiwang Kartasasmita said Sharp's investment would help Indonesia develop its manufacturing industry and reduce electronics imports. AC was one of the products contributing to the imports, as many of its parts, including the compressor, are not available in Indonesia. Sharp has been developing Indonesia as its new base for manufacturing in the past few years. In 2019, the company moved its top-loading washing machines production from Thailand to Indonesia.   https://jakartaglobe.id/business/sharp-begins-construction-of-405m-ac-plant-in-w-java