This note is taken from Chapter 2 of Economic Policy Reforms: Going for Growth 2012.

Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.

Micro, small and medium-sized firms (MSMEs) are a key source of employment and economic growth in Indonesia. They contributed to the country’s economic resilience during the 2008-09 financial crisis.

Angel Gurría, Secretary-General of the OECD congratulated the newly elected President of Indonesia, Joko Widodo, for taking a bold first step in his economic reform agenda by substantially cutting fuel subsidies.

The Indonesian economy has enjoyed strong and stable growth over the past decade and a half, leading to impressive reductions in poverty and major improvements in living standards. But challenges remain to continue to converge towards higher-income countries, according to the latest OECD Economic Survey of Indonesia.

In Indonesia, the pressure on the environment that natural resource exploitation is creating should be addressed by increasing the share of gas and renewables in the energy mix, properly defining property rights and regulations regarding forest land, and implementing a positive implicit carbon price. More resources should be devoted to combating widespread illegal mining and deforestation.

Indonesia has a very good record of poverty reduction, having halved its incidence over the past two decades. Nevertheless, almost 30 million people still live below the national poverty line, mostly in rural areas and in certain provinces.

Indonesia has undergone an extraordinary transformation over the past two decades, benefiting from strong growth that has lifted millions out of poverty and allowed important progress in areas such as health and education. But low levels of public spending and tax revenue are undermining the quality of social services and exacerbating infrastructure gaps, according to the OECD.

As described in the 2016 OECD Economic Survey of Indonesia, economic growth is expected to pick up over the course of 2016 and into 2017. Despite persistently weak external conditions, confidence is returning, with inflation moderating, a stable rupiah and government investment in infrastructure gathering pace.

The government has put a heavy emphasis on improving the business climate, thereby promoting a competitive, innovative and dynamic private business sector.

A steady economic expansion in Indonesia is boosting living standards, curbing poverty and offering millions of people greater access to public services.

Indonesia has improved its macro-economic and structural policies over the last 15 years. Its economy, with strong and stable growth rates of 5–6.6%, is catching up with other countries in the region and allowing Indonesia to focus on its development agenda.

Indonesia has come a long way in improving its tax system over the last decade, both in terms of revenues raised and administrative efficiency. Nonetheless, the tax take is still low, given the need for more spending on infrastructure and social protection.

"Indonesia is well placed to be a strong advocate for open government reforms, and to link such reforms to other multi-lateral reform efforts" - OECD Insights Blog by Luiz De Mello.

In 1998 Indonesia embarked on an ambitious course of decentralisation. Over a period of a few years, facilitated by financial transfers from the central government, responsibility for many public services and administrative tasks were devolved to local authorities.

Indonesia's fiscal position is generally sound and policy making prudent. However, the country still faces important challenges in terms of economic and social development.

Legislative and regulatory policy options for sustainable capital markets - A good corporate governance framework should combine transparency, accountability and integrity and this requires knowledge of beneficial ownership. This report assesses the costs, benefits and practicalities of different approaches, suggesting policy options to better identify ultimate beneficial ownership in Indonesia.

Indonesia scored 40 points out of 100 on the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Index in Indonesia averaged 26.84 Points from 1995 until 2019, reaching an all time high of 40 Points in 2019 and a record low of 17 Points in 1999. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory’s score indicates the perceived level of public sector corruption on a scale of 0 (highly corrupt) to 100 (very clean). This page provides the latest reported value for - Indonesia Corruption Index - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Indonesia is the 85 least corrupt nation out of 175 countries, according to the 2019 Corruption Perceptions Index reported by Transparency International. Corruption Rank in Indonesia averaged 99.04 from 1995 until 2019, reaching an all time high of 143 in 2007 and a record low of 41 in 1995. The Corruption Perceptions Index ranks countries and territories based on how corrupt their public sector is perceived to be. A country or territory's rank indicates its position relative to the other countries and territories in the index. This page provides the latest reported value for - Indonesia Corruption Rank - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Wages High Skilled in Indonesia increased to 5017000 IDR/Month in 2018 from 4768500 IDR/Month in 2017. Wages High Skilled in Indonesia averaged 4719675 IDR/Month from 2015 until 2018, reaching an all time high of 5017000 IDR/Month in 2018 and a record low of 4473000 IDR/Month in 2015. High Skilled Wages refer to highest estimate of wage of workers doing high-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Business Confidence in Indonesia decreased to 104.82 points in the fourth quarter of 2019 from 105.33 points in the third quarter of 2019. Business Confidence in Indonesia averaged 106.75 points from 2000 until 2019, reaching an all time high of 122.50 points in the second quarter of 2000 and a record low of 95.12 points in the first quarter of 2006. In Indonesia, the Business Tendency Index (BTI) measures the expectations of entrepreneurs about current business income, production capacity, average working hours and future domestic and foreign orders, selling prices and raw materials. The survey covers a sample of around 2000 managers from large and medium companies from almost all regions of the country and from the main sectors of the economy (Agriculture, Mining and Quarrying, Manufacturing, Electricity, Gas and Water, Construction, Trade, Hotels, Transportation and Communication, Financial and Services). For each of the variables measured, the proportion of positive, negative and neutral answers is computed, and the final index is reported as a weighted average of those proportions. The BTI above 100 indicates an improving outlook and below 100 a deteriorating outlook. This page provides - Indonesia Business Confidence - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Indonesia 10Y Bond Yield was 8.09 percent on Friday May 8, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Indonesia Government Bond 10Y reached an all time high of 21.11 in October of 2008. Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Wages Low Skilled in Indonesia increased to 3427900 IDR/Month in 2018 from 3086900 IDR/Month in 2017. Wages Low Skilled in Indonesia averaged 3116150 IDR/Month from 2015 until 2018, reaching an all time high of 3427900 IDR/Month in 2018 and a record low of 2873400 IDR/Month in 2015. Low Skilled Wages refer to highest estimate of wage of workers doing low-skilled jobs, calculated from sample of wages collected by WageIndicator surveys.

Producer Prices in Indonesia increased 1.05 percent in December of 2019 over the same month in the previous year. Producer Prices Change in Indonesia averaged 13.57 percent from 1972 until 2019, reaching an all time high of 153.43 percent in July of 1998 and a record low of -12 percent in July of 1999. Producer prices change refers to year over year change in price of goods and services sold by manufacturers and producers in the wholesale market during a given period. This page provides - Indonesia Producer Prices Change- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Car Production in Indonesia decreased to 1045666 in 2019 from 1055774 in 2018. Car Production in Indonesia averaged 516823.32 from 1998 until 2019, reaching an all time high of 1055774 in 2018 and a record low of 32237 in 2001. This page provides - Indonesia Car Production- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Hospital Beds in Indonesia increased to 1.04 per 1000 people in 2017 from 0.99 per 1000 people in 2016. Hospital Beds in Indonesia averaged 0.84 per 1000 people from 2009 until 2017, reaching an all time high of 1.04 per 1000 people in 2017 and a record low of 0.57 per 1000 people in 2010. This page includes a chart with historical data for Indonesia Hospital Beds.

The Corporate Tax Rate in Indonesia stands at 22 percent. Corporate Tax Rate in Indonesia averaged 27.88 percent from 1997 until 2020, reaching an all time high of 39 percent in 2002 and a record low of 22 percent in 2020. In Indonesia, the Corporate Income tax rate is a tax collected from companies. Its amount is based on the net income companies obtain while exercising their business activity, normally during one business year. The benchmark we use refers to the highest rate for Corporate Income. Revenues from the Corporate Tax Rate are an important source of income for the government of Indonesia. This page provides - Indonesia Corporate Tax Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports in Indonesia increased to 13350.10 USD Million in March from 11548.10 USD Million in February of 2020. Imports in Indonesia averaged 3797.15 USD Million from 1959 until 2020, reaching an all time high of 18297.15 USD Million in July of 2018 and a record low of 21 USD Million in September of 1959. From 2004 to 2012, imports to Indonesia tripled, as large portion of the population entered middle-class and propelled higher purchases of oil and consumption goods. However, starting in mid-2013, imports have been declining due to low commodity prices and weak domestic consumption and investment. Main imports products are: oil and gas (around 17 percent of total imports), nuclear reactions, boilers, mechanical appliances (19 percent); iron and steel (5.4 percent), organic chemical materials (4.8 percent) and vehicles (4.5 percent). Main import partners are: China (25 percent of the total imports), Japan (11 percent), Singapore (7.6 percent), Thailand (6.8 percent) and the United States (6.4 percent). This page provides the latest reported value for - Indonesia Imports - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Capacity Utilization in Indonesia decreased to 74.09 percent in the first quarter of 2020 from 74.41 percent in the fourth quarter of 2019. Capacity Utilization in Indonesia averaged 73.11 percent from 2003 until 2020, reaching an all time high of 79.78 percent in the fourth quarter of 2014 and a record low of 62.43 percent in the first quarter of 2003. This page provides - Indonesia Capacity Utilization - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Imports from Thailand (non Oil & Gas) in Indonesia decreased to 791.50 USD Million in March from 831.50 USD Million in February of 2020. Imports from Thailand (non Oil & Gas) in Indonesia averaged 774.68 USD Million from 2014 until 2020, reaching an all time high of 1112.60 USD Million in May of 2018 and a record low of 572 USD Million in July of 2015. This page includes a chart with historical data for Indonesia Imports from Thailand (non Oil & Gas).

Imports from Taiwan (non Oil & Gas) in Indonesia increased to 373.60 USD Million in March from 283.80 USD Million in February of 2020. Imports from Taiwan (non Oil & Gas) in Indonesia averaged 280.50 USD Million from 2014 until 2020, reaching an all time high of 413.20 USD Million in November of 2019 and a record low of 176.60 USD Million in June of 2018. This page includes a chart with historical data for Indonesia Imports from Taiwan (non Oil & Gas).

Imports from South Korea (non Oil & Gas) in Indonesia increased to 596.80 USD Million in March from 526.40 USD Million in February of 2020. Imports from South Korea (non Oil & Gas) in Indonesia averaged 582.53 USD Million from 2014 until 2020, reaching an all time high of 867 USD Million in March of 2017 and a record low of 382.10 USD Million in July of 2015. This page includes a chart with historical data for Indonesia Imports from South Korea (non Oil & Gas).

Imports from Malaysia (non Oil & Gas) in Indonesia decreased to 451.70 USD Million in March from 473.60 USD Million in February of 2020. Imports from Malaysia (non Oil & Gas) in Indonesia averaged 453.03 USD Million from 2014 until 2020, reaching an all time high of 641.10 USD Million in July of 2018 and a record low of 273.10 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Imports from Malaysia (non Oil & Gas).

Imports from Japan (non Oil & Gas) in Indonesia decreased to 1213.20 USD Million in March from 1289.40 USD Million in February of 2020. Imports from Japan (non Oil & Gas) in Indonesia averaged 19735.86 USD Million from 2014 until 2020, reaching an all time high of 1331405.70 USD Million in April of 2014 and a record low of 811.70 USD Million in July of 2015. This page includes a chart with historical data for Indonesia Imports from Japan (non Oil & Gas).

Imports from Germany (non Oil & Gas) in Indonesia decreased to 241.40 USD Million in March from 251.40 USD Million in February of 2020. Imports from Germany (non Oil & Gas) in Indonesia averaged 297.71 USD Million from 2014 until 2020, reaching an all time high of 453.60 USD Million in July of 2018 and a record low of 192.20 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Imports from Germany (non Oil & Gas).

Imports from China (non Oil & Gas) in Indonesia increased to 2984.60 USD Million in March from 1984.40 USD Million in February of 2020. Imports from China (non Oil & Gas) in Indonesia averaged 3021.88 USD Million from 2014 until 2020, reaching an all time high of 4447.60 USD Million in May of 2018 and a record low of 1798 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Imports from China (non Oil & Gas).

Imports from Australia (non Oil & Gas) in Indonesia increased to 432.60 USD Million in March from 394.30 USD Million in February of 2020. Imports from Australia (non Oil & Gas) in Indonesia averaged 410.05 USD Million from 2014 until 2020, reaching an all time high of 547.10 USD Million in November of 2018 and a record low of 244.60 USD Million in January of 2016. This page includes a chart with historical data for Indonesia Imports from Australia (non Oil & Gas).

Exports to China (non Oil & Gas) in Indonesia increased to 1980.40 USD Million in March from 1865.70 USD Million in February of 2020. Exports to China (non Oil & Gas) in Indonesia averaged 1630.39 USD Million from 2014 until 2020, reaching an all time high of 2766.50 USD Million in October of 2019 and a record low of 886.70 USD Million in January of 2016. This page includes a chart with historical data for Indonesia Exports to China (non Oil & Gas).

Exports to Germany (non Oil & Gas) in Indonesia increased to 228.50 USD Million in March from 179.10 USD Million in February of 2020. Exports to Germany (non Oil & Gas) in Indonesia averaged 219.52 USD Million from 2014 until 2020, reaching an all time high of 279.90 USD Million in May of 2015 and a record low of 152.90 USD Million in June of 2019. This page includes a chart with historical data for Indonesia Exports to Germany (non Oil & Gas).

Exports to Australia (non Oil & Gas) in Indonesia increased to 168.60 USD Million in March from 155.50 USD Million in February of 2020. Exports to Australia (non Oil & Gas) in Indonesia averaged 209.10 USD Million from 2014 until 2020, reaching an all time high of 444.90 USD Million in April of 2014 and a record low of 134 USD Million in June of 2018. This page includes a chart with historical data for Indonesia Exports to Australia (non Oil & Gas).

Exports to Japan (non Oil & Gas) in Indonesia increased to 1144.60 USD Million in March from 1139.10 USD Million in February of 2020. Exports to Japan (non Oil & Gas) in Indonesia averaged 1186.86 USD Million from 2014 until 2020, reaching an all time high of 1592.50 USD Million in July of 2018 and a record low of 821.60 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Exports to Japan (non Oil & Gas).

Exports to Singapore (non Oil & Gas) in Indonesia decreased to 916.10 USD Million in March from 1047.80 USD Million in February of 2020. Exports to Singapore (non Oil & Gas) in Indonesia averaged 758.90 USD Million from 2014 until 2020, reaching an all time high of 1047.80 USD Million in February of 2020 and a record low of 534 USD Million in June of 2018. This page includes a chart with historical data for Indonesia Exports to Singapore (non Oil & Gas).

Exports to Malaysia (non Oil & Gas) in Indonesia increased to 613.30 USD Million in March from 605.70 USD Million in February of 2020. Exports to Malaysia (non Oil & Gas) in Indonesia averaged 575.49 USD Million from 2014 until 2020, reaching an all time high of 738.30 USD Million in August of 2018 and a record low of 367.40 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Exports to Malaysia (non Oil & Gas).

Exports to Taiwan (non Oil & Gas) in Indonesia increased to 298.10 USD Million in March from 249.90 USD Million in February of 2020. Exports to Taiwan (non Oil & Gas) in Indonesia averaged 282.38 USD Million from 2014 until 2020, reaching an all time high of 443.30 USD Million in July of 2018 and a record low of 173.60 USD Million in July of 2016. This page includes a chart with historical data for Indonesia Exports to Taiwan (non Oil & Gas).

Exports to South Korea (non Oil & Gas) in Indonesia increased to 500.50 USD Million in March from 460.30 USD Million in February of 2020. Exports to South Korea (non Oil & Gas) in Indonesia averaged 505.21 USD Million from 2014 until 2020, reaching an all time high of 744.10 USD Million in September of 2018 and a record low of 363.60 USD Million in November of 2015. This page includes a chart with historical data for Indonesia Exports to South Korea (non Oil & Gas).

Industrial Production in Indonesia decreased 0.80 percent in January of 2020 over the same month in the previous year. Industrial Production in Indonesia averaged 3.32 percent from 1994 until 2020, reaching an all time high of 34.50 percent in January of 2001 and a record low of -25.40 percent in May of 1998. In Indonesia, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities. This page provides the latest reported value for - Indonesia Industrial Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Industrial Production in Indonesia increased 1 percent in January of 2020 over the previous month. Industrial Production Mom in Indonesia averaged 0.59 percent from 2000 until 2020, reaching an all time high of 29.17 percent in February of 2000 and a record low of -24.80 percent in December of 2002. This page provides - Indonesia Industrial Production MoM- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Money Supply M2 in Indonesia increased to 6116500 IDR Billion in February from 6046700 IDR Billion in January of 2020. Money Supply M2 in Indonesia averaged 1398612.24 IDR Billion from 1980 until 2020, reaching an all time high of 6136500 IDR Billion in December of 2019 and a record low of 5156 IDR Billion in February of 1980. Indonesia Money Supply M2 includes M1 plus short-term time deposits in banks. This page provides - Indonesia Money Supply M2 - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Loans to Private Sector in Indonesia increased to 4864296 IDR Billion in February from 4842449 IDR Billion in January of 2020. Loans to Private Sector in Indonesia averaged 2095731.78 IDR Billion from 2002 until 2020, reaching an all time high of 4928870 IDR Billion in December of 2019 and a record low of 286724 IDR Billion in May of 2002. This page provides - Indonesia Loans to Private Sector - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Crude Oil Production in Indonesia increased to 729 BBL/D/1K in January from 725 BBL/D/1K in December of 2019. Crude Oil Production in Indonesia averaged 1258.40 BBL/D/1K from 1973 until 2020, reaching an all time high of 1720 BBL/D/1K in December of 1977 and a record low of 651 BBL/D/1K in October of 2019. This page provides the latest reported value for - Indonesia Crude Oil Production - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.