Economy (Indonesia)
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     Overview:
         Indonesia is a mixed economy with many socialist institutions and central
         planning but with a recent emphasis on deregulation and private enterprise.
         Indonesia has extensive natural wealth, yet, with a large and rapidly
         increasing population, it remains a poor country. GDP growth in 1985-91
         averaged about 6%, quite impressive, but not sufficient to both slash
         underemployment and absorb the 2.3 million workers annually entering the
         labor force. Agriculture, including forestry and fishing, is an important
         sector, accounting for 23% of GDP and over 50% of the labor force. The
         staple crop is rice. Once the world's largest rice importer, Indonesia is
         now nearly self-sufficient. Plantation crops - rubber and palm oil - and
         textiles and plywood are being encouraged for both export and job
         generation. Industrial output now accounts for 30% of GDP and is based on a
         supply of diverse natural resources, including crude oil, natural gas,
         timber, metals, and coal. Of these, the oil sector dominates the external
         economy, generating more than 20% of the government's revenues and 40% of
         export earnings in 1989. However, the economy's growth is highly dependent
         on the continuing expansion of nonoil exports. Japan is Indonesia's most
         important customer and supplier of aid. In 1991, rapid growth in the money
         supply prompted Jakarta to implement a tight monetary policy, forcing the
         private sector to go to foreign banks for investment financing. Real
         interest rates remained above 10%, off-shore commercial debt grew, and real
         GDP growth dropped slightly from the 7% of 1990.
     GDP:
         exchange rate conversion - $122 billion, per capita $630; real growth rate
         6.0% (1991 est.)
     Inflation rate (consumer prices):
         10% (1991 est.)
     Unemployment rate:
         3%; underemployment 45% (1991 est.)
     Budget:
         revenues $17.2 billion; expenditures $23.4 billion, including capital
         expenditures of $8.9 billion (FY91)
     Exports:
         $25.7 billion (f.o.b., 1990)
       commodities:
         petroleum and liquefied natural gas 40%, timber 15%, textiles 7%, rubber 5%,
         coffee 3%
       partners:
         Japan 40%, US 14%, Singapore 7%, Europe 16% (1990)
     Imports:
         $21.8 billion (f.o.b., 1990)
       commodities:
         machinery 39%, chemical products 19%, manufactured goods 16%
       partners:
         Japan 23%, US 13%, EC, Singapore
     External debt:
         $58.5 billion (1990 est.)
     Industrial production:
         growth rate 11.6% (1989 est.); accounts for 30% of GDP
     Electricity:
         11,600,000 kW capacity; 38,000 million kWh produced, 200 kWh per capita
         (1990)
     Industries:
         petroleum, textiles, mining, cement, chemical fertilizers, plywood, food,
         rubber