The renegotiation started in july 2018 and it is the year we have record trade deficit around 8.5 billion USD and Rupiah get huge pressured. Later, our trade balance get better, Alhamdulillah, which is deficit around 3 billion USD in 2019 and record surplus in 2020 of 21.74 billion USD (biggest in history after 2012 trade surplus). Even in January 2021 we are Alhamdulillah still surplus around 1.96 billion USD.
SOURCE REQUIRED
The government submitted a renegotiation regarding the development of the Korean Fighter Xperiment / KF / IFX fighter aircraft with the South Korean Government. The renegotiation was carried out taking into account Indonesia's current economic conditions.
"With the national economic conditions, the President decided not to cancel, but renegotiate. How Indonesia's position can be lighter for issues related to financing," said Coordinating Minister for Political, Legal and Human Rights Affairs Wiranto, after the coordination meeting. in his office in Jakarta, Friday (10/19/2018).
Pengembangan ini dimulai Pemerintah Indonesia dan Republik Korea, 9 Maret 2009.Total pembiayaan proyek ini mencapai 8 miliar dollar AS.
nasional.kompas.com
Indonesia Trade Deficit US$8.57B in 2018, the Worst in Four Decades
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2019
Thus, Indonesia's trade balance in 2019 recorded a deficit of 3.20 billion US dollars, lower than the deficit in the previous year of 8.70 billion US dollars.
Kementerian Keuangan Republik Indonesia (disingkat Kemenkeu RI) adalah kementerian negara di lingkungan Pemerintah Indonesia yang membidangi urusan keuangan dan kekayaan negara, Kementerian Keuangan berkedudukan di bawah dan bertanggungjawab kepada Presiden
www.kemenkeu.go.id
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2020
Indonesia booked a record trade surplus in 2020 as imports fell steeper than exports during a tumultuous year for international trade as the COVID-19 pandemic disrupted supply chains and hit global demand.
The country logged a trade surplus of US$21.74 billion last year, the second-highest figure in the country’s history
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January 2021
JAKARTA, Feb. 15 (Xinhua) -- Indonesia recorded in January a trade surplus of 1.96 billion U.S. dollars, according to Indonesia's Agency of Statistics on Monday.
That positive trend is also added with that huge possible battery investment (9 billion USD with LG Chem and 5 billion USD with CATL (MOU stage)-and possible deal with Tesla). The possible EV battery investment can be another huge export sources in our future trade. Not to mention huge growth in electronics equipment export in 2019 (dont know 2020 data) and huge stainless steel export since 2017 and at least in 2019 we have already become second biggest stainless steel exporter in the world. The underlying problem is actually pretty much gone, AlhamduliLLAH, and Rupiah is quite stable after early pandemic panic in March-Mei 2020.
Korea should make a deal now since Indonesia still has huge money in 2021 due to huge stimulus package and also there is still huge leftover budget from 2020. Next year, there will likely be no huge stimulus as government has also said stimulus only for 2020 and 2021 fiscal year. They will be more tight in 2022 and above in order to reduce debt to GDP ratio that will be at 40 percent in the end of 2021.
SOURCE REQUIRED
Indonesia and a unit of South Korean firm LG Group have signed a memorandum of understanding (MOU) on a $9.8 billion electric vehicle (EV) battery investment deal, the head of Indonesia's Investment Coordinating Board said on Wednesday.
www.reuters.com
China's Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia's deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday.
www.reuters.com
A group of Indonesian state-owned companies will form a venture to make batteries to power electric vehicles, the Mining Industry Indonesia (MIND ID) chief executive said on Tuesday.
www.reuters.com
Electrical machinery and equipment was the fastest grower among the top 10 export categories, up by 50.5% from 2018 to 2019. In second place for improving export sales was footwear. Indonesia’s shipments of iron and steel posted the third-fastest gain in value up by 23.5%.
Indonesia’s top exports in 2023 a searchable database of 100 most valuable Indonesian exported goods plus trade balances by major products
www.worldstopexports.com
Below are the 15 countries that exported the highest dollar value worth of stainless steel during 2019.
- United Kingdom: US$445.5 million (23.4% of stainless steel exports)
- Indonesia: $430.9 million (22.6%)
- Sweden: $210.8 million (11.1%)
- Italy: $100.9 million (5.3%)
- United States: $98.7 million (5.2%)
- Austria: $93 million (4.9%)
- Spain: $89.6 million (4.7%)
- Germany: $70 million (3.7%)
- France: $65.2 million (3.4%)
- Taiwan: $44.3 million (2.3%)
- Malaysia: $35.9 million (1.9%)
- Belgium: $29.7 million (1.6%)
- Netherlands: $21 million (1.1%)
- Finland: $19.1 million (1%)
- India: $17.4 million (0.9%)
Top stainless steel exporters by country in 2023 searchable database of stainless steel shipper nations plus average prices
www.worldstopexports.com
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Stimulus Budget
Indonesia’s debt will swell significantly next year as the government increases spending to help the country recover from the COVID-19 pandemic, an official has said.
“This is a direct consequence of a countercyclical policy to support economic recovery and strengthen economic fundamentals in 2020 and 2021,” Febrio said at a discussion on Wednesday. “We will continue to look at various financing sources to maintain the health of the debt ratio.”
The government expects the budget deficit to reach 6.34 percent of GDP this year to cover a Rp 695.2 trillion (US$49.23 billion) stimulus package. In 2021, the government expects the budget deficit to hover between 3.05 percent and 4.01 percent.
“The government realizes that fiscal discipline is crucial to speed up economic recovery,” Febrio added.
“We expect the budget deficit will be able to return below 3 percent in 2022.”
The Finance Ministry’s Fiscal Policy Agency head Febrio Nathan Kacaribu said Indonesia’s debt-to-gross domestic product (GDP) ratio would swell to between 33.8 percent and 35.8 percent next year.
www.thejakartapost.com
@Ahmad YOU HAVE MADE SOME CLAIMS WITHOUT PROVIDING THE SOURCES AS PER FORUM RULES . THIS IS NOT THE FIRST TIME THAT THE MODERATORS HAVE SPOKEN TO YOU ABOUT THIS . YOU HAVE BEEN ON HERE LONG ENOUGH TO KNOW WHAT THE POSTING REQUIREMENTS ARE. 6 POINTS FOR 3 MONTHS.
Ngatimozart
@ngatimozart
www.flightglobal.com
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