News

Indonesia's Imports Soar 40%, With The Trade Balance Recorded A Profit Of USD 4.37 Billion
31 Oct 2021
Head of the Central Statistics Agency (BPS), Margo Yuwono, announced today that Indonesia’s previous month's import value was USD 16.23 billion, up 40.31% from September 2020. Previously, BPS revealed that Indonesia's trade balance recorded a surplus of USD 4.37 billion.   https://www.cnbcindonesia.com/news/20211015080145-4-284080/impor-melesat-40-neraca-dagang-ri-masih-untung-us--437-m
Taiwan's Foxconn Shows Interest In Indonesia’s EV Industry
31 Oct 2021
  Taiwanese electronics manufacturing giant Foxconn has expressed interest in investing in Indonesia’s electric vehicle (EV) supply chain, according to the Indonesian government. Foxconn was interested in developing the electric car, electric scooter and EV battery industries in Indonesia. The manufacturer said it was also committed to partnering with local small and medium enterprises (SMEs).   https://www.thejakartapost.com/news/2021/10/25/taiwans-foxconn-shows-interest-in-indonesias-ev-industry.html
USD 1.5 Billion Of Transactions Targeted At Trade Expo Indonesia
31 Oct 2021
The government has set a target to book USD 1.5 billion in transactions at this year’s Trade Expo Indonesia (TEI), the country’s largest annual trade event. The targeted volume marks a 15.38 percent increase in transactions from last year’s TEI. The number of businesses participating at the event this year is up 20 percent at 834. “We will hold this year’s Trade Expo Indonesia [online again] as we adapt to the pandemic and keep promoting Indonesian products to the global market," Trade Minister Muhammad Lutfi said in an online press brefing.   https://www.thejakartapost.com/news/2021/10/21/ministry-targets-1-5b-in-transactions-at-trade-expo-indonesia.html
Trade Surplus Hits USD 2.59 Billion As Commodity Prices Rise
03 Sep 2021
Indonesia’s trade surplus rose 19.8 percent annually to USD 2.59 billion in July, the second-highest level this year, after May, as high commodity prices buoyed exports, official data show. Statistics Indonesia (BPS) reported that exports reached USD 17.7 billion in July, up 29.3 percent year-on-year (yoy) buoyed by rising prices of commodities such as coal, tin, palm oil and crude oil. Imports reached USD 15.11 billion in July, up 44.4 percent yoy, driven up by a low base effect and higher imports of consumer goods and raw materials, particularly those related to COVID-19 vaccines. “This is a sign that the economy is improving as the trade balance saw a surplus for 15 months in a row," said BPS head Margo Yuwono.   https://www.thejakartapost.com/news/2021/08/18/trade-surplus-hits-2-59b-in-july-as-commodity-prices-rise.html
Indonesia To Be Asia-Pacific’s Fastest-Growing IT Market
03 Sep 2021
  Indonesia is expected to lead Asia-Paci­c in IT spending over the next four years, driven by a strong shift toward cloud related services as the COVID-19 pandemic prompts local enterprises to digitalize their operations. The country’s IT spending is expected to experience a 13 percent compound annual growth rate (CAGR) over the next few years, bringing the value of the sector to USD 6 billion by 2024, according to a report by Boston Consulting Group (BCG) and technology company Cisco. India is expected to experience the second-fastest growth with a 12 percent CAGR. “Indonesia is the fastest-growing IT market in Asia Paci­c, Japan and China," said Cisco ASEAN president Naveen Menon.  
Facebook And Google Work To Improve Internet Connectivity In Indonesia
03 Sep 2021
  Facebook and Google have announced three international subsea data cable projects to bolster Indonesia’s internet capacity with the wider Asia-Paci­c region and North America. The Echo, Bifrost and Apricot subsea cables (SKKL) have a combined length of 43,000 kilometers, with known landing stations in Manado, North Sulawesi, and Batam, Riau Islands, and are scheduled for completion between 2023 and 2024.   https://www.thejakartapost.com/news/2021/08/31/facebook-google-juggle-three-subsea-cable-projects-in-indonesia.html
Chiyoda Corporation Has Been Awarded A Contract By Freeport Indonesia
31 Jul 2021
Japan-based Chiyoda Corporation has been awarded a USD 2.7 billion engineering, procurement and construction (EPC) contract by PT Freeport Indonesia (PTFI), a mineral mining company affiliate of US-based Freeport-McMoRan (FCX) and MIND ID Indonesia’s Mining Industry; for a copper smelter in Gresik, East Java, Indonesia. The plant will produce copper cathodes of copper concentrate, supplied by PTFI’s Grasberg mine in Papua, one of the largest copper and gold mines in the world. PTFI is currently mining the ­nal phase of the Grasberg open pit, and is working on several projects in the Grasberg minerals district related to the development of its large-scale, long-lived, high-grade underground mines. In aggregate, these underground mines are expected to produce large-scale quantities of copper and gold following the transition from the Grasberg open pit. Demand for copper has doubled in the last 25 years and is projected to go up further. A recent report from McKinsey Global Institute predicts that copper consumption will rise by 43% by 2035, likely to be driven by green technologies, such as solar & wind power, and electric vehicles.   https://www.greencarcongress.com/2021/07/20210716-copper.html
Danone-Veolia Opens Recycling Plant To Reduce Plastic Waste
31 Jul 2021
The Indonesian government has inaugurated a PET bottle-recycling factory in Pasuruan, which will help reduce plastic waste in Indonesia, especially from single-use plastic bottles.  The plant was built in a partnership between Danone-AQUA and water-technologies company Veolia Indonesia.   With 225 employees, it has a production capacity of 25,000 tons per year of food-grade recycled PET plastic (RPET). Industry Minister Agus Gumiwang said the plant would strengthen the recycling ecosystem and the circular economy in Indonesia. He added that there were more than 1,300 plastic recycling plants in Indonesia with a total capacity of 2.3 million tons per year and investment of over Rp 7 trillion (USD 482.5 million). “It can support the government's target of [reducing] plastic waste in the sea by up to 70 percent by 2025,” Agus said. Danone was identi­ed as one of the top-three companies producing the most plastic waste. The group has long called on large national and multinational corporations to take responsibility for plastic pollution caused by their operations.