Country Insights

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Ending 2021 with cheers
INDONESIA - Report 28 Dec 2021
The year 2021 was indeed a challenging year. The pandemic was not yet declared over, and the overhang led to continued uncertainty in the global economy. But in ending this year, Indonesia has seen some reasons to cheer. The first reason, as mentioned in our previous reports, is the amount of ...

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Exports keep improving
INDONESIA - Report 29 Nov 2021
As predicted, Indonesia saw a small retreat in its economic growth in Q3 2021. The economy reported an increase of 3.51% from the same period in the previous year. Compared to the previous quarter, the Indonesian economy grew by 1.55%. This is the second positive growth rate for the economy since...

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Consolidation of the fiscal side
INDONESIA - Report 01 Nov 2021
The Indonesian government is in a balancing act toward fiscal consolidation in the midst of its effort to further stimulate the economy. By law, the budget deficit should be set below 3% starting in 2023. So far, defying the skeptics, the outcome is encouraging, even though it might be deraile...

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Groundbreaking for an EV battery plant
INDONESIA - Report 29 Sep 2021
Indonesia has made an important step toward becoming a base for the production of electric vehicles (EVs). In 2020 Hyundai Motor started the construction of its automotive plant in Karawang, Indonesia, approximately 50 km east of Jakarta. Then in mid-September 2021, LG Chem jointly with Hyundai M...

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A rebound, as expected
INDONESIA - Report 30 Aug 2021
As expected, Indonesia has seen a rebound in its economic growth. In Q2 2021, the Indonesian economy reported an increase of 7.07% year over year. Compared to the previous quarter, the Indonesian economy grew by 3.31%. This is the first positive growth in the economy since the start of the Covid-...

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The rise of Indonesian exports
INDONESIA - Report 30 Jul 2021
Indonesia is in the midst of fighting the impact of the Covid-19 pandemic. The number of new infection cases increased exponentially in the last week of June and the early weeks of July 2021. At the same time the mortality rate was also very high. This situation was worse than the first semester ...

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The first HPAL plant started commercial operations
INDONESIA - Report 29 Jun 2021 1 response
Indonesia has enjoyed a number of commodities booms in the past few decades, from a sugar boom, to a rubber boom, and an oil boom, with the most recent the coal and CPO booms. Although the performance of crude palm oil and coal was very good, Indonesia is also enjoying the coming of the nickel bo...

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The marriage of the two unicorns
INDONESIA - Report 01 Jun 2021
Indonesia has seen an interesting story about the merger of two unicorns, Gojek, a ride-hailing start-up, and Tokopedia, a marketplace platform, both of which were "unicorns" before the merger. The merger of the two companies strengthens the technology companies to reach a possible valuation of s...

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Mobility restrictions for the holiday
INDONESIA - Report 30 Apr 2021
Indonesia is in the midst of the fasting month, the Ramadan. In the second week of May 2021, the holidays will start and they are usually full of celebrations, among families and in communities. Prior to the holidays, millions of people will go back to their hometowns and villages to see their pa...

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All charged up and ready to go
INDONESIA - Report 31 Mar 2021
Recently Credit Lyonnais Securities Asia published a report on the Indonesian electric vehicle industry that underscored its confidence in the Indonesian government's support for the industry, from nickel production for batteries to the prospects of Indonesia's becoming part of the global product...

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Improvement in the economy
INDONESIA - Report 01 Mar 2021
Indonesia has already seen a certain measure of improvement in the economy in the past quarters. While the country experienced a painful situation due to the restrained mobility from the pandemic, which led to a semi-lockdown in Q2 2020, Indonesia has continued to improve, slashing the negative g...

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A longer-lasting trade surplus
INDONESIA - Report 01 Feb 2021
Indonesia has enjoyed a number of commodities booms in the past few decades. These range from sugar, to rubber, to oil, with the most recent being the coal and CPO booms. These rapid periods of growth in commodities helped the trade balance and also increased the welfare of the people, which even...

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Toward the age of the electric vehicle
INDONESIA - Report 31 Dec 2020
As the year 2020 quickly approaches its end, Indonesia is weighing the prospects for the country’s economy for the near term, as well as for the medium and long term. For the near future, the fight against the pandemic continues, with the prospect of vaccination becoming the biggest hope. The fir...

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A surplus in the current account
INDONESIA - Report 30 Nov 2020
Indonesia has already seen the painful impact of the pandemic on its economic growth. For the first time since the Asian Crisis in 1998, when the economy declined by 14%, the Indonesian economy declined, by 5.32% in Q2 2020 after positive growth of 2.97% in Q1 2020. In Q3 2020, the Indonesian eco...

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The state of the banking sector during the pandemic
INDONESIA - Report 02 Nov 2020
The Indonesian economy has been impacted by the pandemic in the past few months. Various sectors of the economy, especially sectors related to people’s mobility, such as transportation, hotels and tourism, have, with some exceptions, been impacted the most. In addition, retail businesses and rest...