Information about Asia and the Pacific Asia y el Pacífico
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Indonesia

Author(s):
International Monetary Fund
Published Date:
May 1999
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Table 1.Indonesia: Developments in Gross Domestic Product by Sector of Origin and by Expenditure, 1993–98 1/
199319941995199619971998
(Annual percentage change; in constant 1993 prices)
GDP7.37.58.27.84.9-13.7
Oil/gas GDP0.33.3-1.44.3-1.0-0.9
Non-oil/gas GDP8.18.09.28.25.5-14.8
Gross national product7.98.77.88.14.3-14.8
Gross domestic product
By sector of origin
Agriculture1.70.64.43.10.70.2
Mining and quarrying3.45.66.76.31.7-4.2
Manufacturing 2/13.212.410.911.66.4-12.9
Utilities11.112.515.913.612.83.7
Construction14.514.912.912.86.4-39.7
Trade, hotels, and restaurants9.87.67.98.25.8-19.0
Transport and communications7.58.38.58.78.3-12.8
Banks and finance10.010.211.06.17.1-29.4
Dwellings and real estate1.74.05.55.85.0-20.7
Other services4.42.83.33.42.8-4.7
By expenditure component
Consumption5.47.111.28.95.9-4.1
Private6.37.812.69.76.6-2.9
Public0.22.31.32.70.1-14.4
Fixed capital investment6.613.814.014.58.6-40.9
Domestic demand6.39.012.07.67.0-17.6
Exports of goods and services6.89.97.77.67.810.6
Imports of goods and services5.420.320.96.914.7-5.4
(Percentage contribution to GDP growth)
Consumption3.74.87.56.24.1-2.9
Private3.74.67.45.94.1-1.8
Public0.00.20.10.20.0-1.1
Investment3.04.94.21.73.0-15.5
Fixed capital investment1.73.63.94.32.7-13.2
Stocks 3/1.21.30.3-2.60.4-2.3
Domestic demand6.79.711.77.87.1-18.4
Net exports0.5-2.2-3.50.0-2.24.7
Exports of goods and services1.82.72.12.12.13.0
Imports of goods and services1.34.85.62.04.3-1.7
Source: Data provided by the Indonesian authorities; and staff estimates.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Excludes oil refining and gas processing.

Residual.

Source: Data provided by the Indonesian authorities; and staff estimates.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Excludes oil refining and gas processing.

Residual.

Table 2.Indonesia: Gross Domestic Product by Sector of Origin at Current Market Prices, 1993–98 1/
199319941995199619971998
(In billions of rupiah)
Agriculture58,96366,07177,89688,792100,151186,483
Farm food crops32,09334,94142,20047,62251,56288,546
Nonfood crops9,01510,58712,66614,43516,38936,377
Livestock6,2037,1028,0799,52411,68819,743
Forestry6,2686,8977,3908,1709,63419,295
Fishery5,3856,5447,5619,04110,87822,522
Mining and quarrying31,49833,50740,19546,08854,510127,217
Oil/gas mining23,12123,07025,41028,11833,28083,051
Other8,37710,43714,78517,97021,23044,166
Manufacturing73,55689,241109,690136,426159,748259,564
Oil/gas processing9,79310,43911,39914,19416,13731,391
Other 2/63,76378,80298,291122,232143,611228,173
Utilities3,2904,5775,6556,8937,93911,531
Construction22,51328,01734,45242,02546,18153,841
Trade, hotels, and restaurants55,29863,85975,64087,137103,763147,478
Transport and communications23,24927,35330,79534,92642,23253,640
Transport20,10123,19125,47729,24735,19943,540
Communications3,1484,1625,3185,6807,03310,100
Banks and finance14,00517,81827,61130,33340,97659,152
Dwellings and real estate9,69511,23911,89913,64817,71522,318
Other services37,70940,53940,68246,30052,29268,351
Government22,45822,75526,55529,75332,12837,250
Other 3/15,25117,78414,12716,54720,16431,101
GDP329,775382,220454,514532,568625,506989,573
Oil/gas 4/32,91533,50936,80842,31249,417114,442
Non-oil/gas296,861348,711417,706490,255576,089875,131
(Share in GDP; in current prices)
Agriculture17.917.317.116.716.018.8
Mining and quarrying9.68.88.88.78.712.9
Manufacturing22.323.324.125.625.526.2
Utilities1.01.21.21.31.31.2
Construction6.87.37.67.97.45.4
Trade, hotels, and restaurants16.816.716.616.416.614.9
Transport and communications7.07.26.86.66.85.4
Banks and finance4.24.76.15.76.66.0
Dwellings and real estate2.92.92.62.62.82.3
Services11.410.69.08.78.46.9
Source: Data provided by the Indonesian authorities.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Includes textiles, consumer goods, steel, fertilizers, and chemicals.

Includes business services.

Comprises oil and natural gas mining, oil refining, and gas processing.

Source: Data provided by the Indonesian authorities.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Includes textiles, consumer goods, steel, fertilizers, and chemicals.

Includes business services.

Comprises oil and natural gas mining, oil refining, and gas processing.

Table 3.Indonesia: Gross Domestic Product by Sector of Origin at Constant 1993 Prices, 1993–98 1/(In billions of rupiah)
199319941995199619971998
Agriculture58,96459,29361,88563,82864,29064,434
Farm food crops32,09331,40932,95233,64732,75332,410
Nonfood crops9,0159,4729,91210,35510,48311,108
Livestock6,2036,4516,7897,1337,4837,003
Forestry6,2686,3016,3046,4446,9617,033
Fishery5,3855,6605,9286,2496,6106,880
Mining and quarrying31,49733,26235,50237,73938,38636,788
Oil/gas mining23,12123,72023,72024,06323,92023,413
Other8,3779,54211,78213,67714,46613,375
Manufacturing73,55782,64991,637102,260108,82994,808
Oil/gas processing9,79410,2699,78210,86410,65010,847
Other 2/63,76372,38081,85591,39698,17883,962
Utilities3,2903,7034,2924,8775,4995,702
Construction22,51325,85829,19832,92435,04121,116
Trade, hotels, and restaurants55,29859,50464,23169,47573,50459,572
Transport and communications23,24925,18827,32929,70132,16928,051
Transport20,10121,40022,93224,44525,99621,580
Communications3,1483,7884,3975,2576,1746,471
Banks and finance14,00515,94523,67025,11926,90518,992
Dwellings and real estate9,69510,08710,64311,26611,8269,380
Other services37,70939,15535,40636,61037,64935,875
Government22,45822,75223,04623,33823,61721,965
Other 3/15,25116,40312,36013,27214,03313,910
GDP329,776354,640383,792413,798434,095374,719
Oil/gas 4/32,91533,98833,50234,92634,57034,260
Non-oil/gas296,861320,652350,290378,871399,525340,459
Source: Data provided by the Indonesian authorities.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Includes textiles, consumer goods, steel, fertilizers, and chemicals.

Includes business services.

Comprises oil and natural gas mining, oil refining, and gas processing.

Source: Data provided by the Indonesian authorities.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Includes textiles, consumer goods, steel, fertilizers, and chemicals.

Includes business services.

Comprises oil and natural gas mining, oil refining, and gas processing.

Table 4.Indonesia: Expenditure on Gross Domestic Product, 1993–98 1/
199319941995199619971998
(In constant 1993 prices)
Consumption222,715238,505265,096288,698305,618293,060
Private192,958208,062234,245257,016273,917265,913
Public29,75730,44330,85131,68131,70127,147
Investment97,213113,425128,238134,572147,11679,892
Fixed capital86,66798,589112,386128,699139,72582,633
Change in stocks 2/10,54614,83615,8525,8737,391-2,741
Domestic demand319,928351,930393,334423,269452,734372,951
Net exports9,8482,711-9,543-9,471-18,6381,768
Exports of goods and services88,23197,002-104,492112,391121,158134,050
Imports of goods and services78,38394;291114,035121,863139,796132,282
Gross domestic product329,776354,641383,792413,798434,096374,719
Gross national product317,223344,911371,355401,311418,633356,547
(In current prices)
Consumption213,288259,133315,460372,394431,674730,228
Private183,531228,119279,876332,094388,722681,491
Public29,75731,01435,58440,29942,95248,737
Investment109,575118,708145,118163,453195,560183,355
Fixed capital86,667105,381129,218157,653177,700206,611
Change in stocks 2/22,90813,32715,9005,80017,860-23,256
Domestic demand322,863377,841460,578535,847627,234913,582
Net exports6,9134,379-6,064-3,279-1,72875,990
Exports of goods and services85,296101,332119,593137,533174,871500,653
Imports of goods and services78,38396,953125,657140,812176,600424,663
Gross domestic product329,776382,220454,514532,568625,506989,573
Gross national product317,223371,971441,251518,296607,151935,679
(Share in GDP; in current prices)
Consumption64.767.869.469.969.073.8
Private55.759.761.662.462.168.9
Public9.08.17.87.66.94.9
Investment33.231.131.930.731.318.5
Fixed capital26.327.628.429.628.420.9
Change in stocks6.93.53.51.12.9-2.4
Domestic demand97.998.9101.3100.6100.392.3
Net exports2.11.1-1.3-0.6-0.37.7
Exports of goods and services25.926.526.325.828.050.6
Imports of goods and services23.825.427.626.428.242.9
GDP100.0100.0100.0100.0100.0100.0
Source: Data provided by the Indonesian authorities; and staff estimates.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Residual.

Source: Data provided by the Indonesian authorities; and staff estimates.

Reflects revised national accounts statistics based on 1993 prices and 1990 Input-Output Tables.

Residual.

Table 5.Indonesia: Agricultural Production, 1993–98
199319941995199619971998
(In thousands of metric tons; unless otherwise noted)
Farm food crops
Rice31,31830,31732,33433,21632,09530,188
Corn6,4606,8698,2469,3078,7719,794
Cassava17,28515,72915,44117,00215,13414,889
Sweet potatoes2,0881,8452,1712,0181,8471,905
Peanuts (shelled)639632760738688683
Soybeans (shelled)1,7091,5651,6801,5171,3571,313
Non-food and estate crops
Rubber1,4751,4991,5731,5741,5531,548
Palm oil3,4214,0084,4804,8985,3805,006
Palm kernels6027979421,0841,2291,175
Coffee439450458459429396
Tea165139155169154157
Sugar2,3302,4542,0602,0942,1901,079
Copra2,6062,6492,7042,7612,7922,796
Tobacco121130140151210137
Pepper665460524750
Nutmeg211919191918
Cloves677890605959
Fisheries3,7954,8805,2355,5374,5814,761
Saltwater2,8863,9804,2644,5203,4823,616
Freshwater9099009711,0171,0991,145
Forestry (’000 cubic meters)26,84824,02724,85026,06922,705
Meat and dairy
Meat1,3781,4931,5071,6321,5591,491
Eggs573689736780761579
Milk (millions of liters)388427433441424434
(Area cultivated, in thousands of hectares)
Rice11,01310,07210,70710,85511,14411,058
Com2,9403,1093,6523,6803,3613,752
Cassava1,4021,3571,3241,4071,2401,551
Sweet potatoes224197229212194154
Peanuts624643739697625638
Soybeans1,4701,4071,4771,2741,1211,103
(Yield in metric tons/hectare)
Rice2.843.013.023.062.882.73
Corn2.202.212.262.532.612.61
Cassava12.3311.5911.6612.0812.29.6
Sweet potatoes9.329.369.499.539.512.3
Peanuts (shelled)1.020.981.031.071.11.07
Soybeans (shelled)1.161.111.141.191.211.19
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 6.Indonesia: Indices of Non-Oil/Gas Manufacturing Production, 1993–98 1/(1993=100)
199319941995199619971998
Total100.00117.60130.52139.12157.42131.89
Consumer goods
Kretek cigarettes100.00117.21120.53109.69109.7171.89
White cigarettes100.00118.01119.76152.53141.13183.66
Milk and butter100.00132.31156.62228.06262.92100.60
Cloth100.00105.49123.99135.38152.61155.58
Yarn100.00100.91114.67127.51126.93125.54
Batik100.00141.79140.53190.73236.85149.18
Knitwear100.00155.09135.52137.75108.45101.88
Footwear100.0095.6388.0496.0887.0450.92
Radios and television sets100.00109.53110.04139.85171.17117.17
Batteries100.00104.45115.63104.51191.85166.89
Cooking oil100.00117.59148.40192.21210.37201.40
Intermediate goods
Group A
Fertilizer100.00108.5898.1989.4282.0177.57
Basic chemicals100.00108.56144.90131.33139.59224.35
Paper100.00100.72115.56146.01166.50100.60
Plastics100.00104.3987.5279.5066.8040.50
Rubber100.0098.88106.25114.23110.20115.24
Group B
Cement100.00134.36165.82177.76196.70134.85
Structural metal products100.00171.72310.21212.86108.35140.00
Iron and basic steel100.00110.5286.5076.1079.9877.29
Paint100.00101.5593.77104.11118.53104.02
Glass100.00118.62144.58136.63157.14164.01
Plywood100.00104.50103.4189.9587.3085.46
Other wood100.00100.00104.0068.00--
Electrical goods100.00111.29117.70106.32132.19131.40
Transportation equipment
Motor vehicles100.00153.82130.98138.88253.8771.44
Motorcycles100.0072.9077.2387.3294.2936.23
Tires100.0089.8292.3297.2996.2364.84
Source: Data provided by the Indonesian authorities; and staff estimates.

Covering large- and medium-sized industries, accounting for about 80 percent of total manufacturing production of which about 70 percent is shown in the table.

Source: Data provided by the Indonesian authorities; and staff estimates.

Covering large- and medium-sized industries, accounting for about 80 percent of total manufacturing production of which about 70 percent is shown in the table.

Table 7.Indonesia: Production, Domestic Use, and Exports of Petroleum, 1993–97(Millions of barrels, unless otherwise noted)
19931994199519961997
Production
Pertamina27.223.520.821.639.0
Contract-of-work companies7.30.00.00.00.0
Production-sharing companies524.0564.9565.4527.0504.8
Total production558.5588.4586.2548.6543.8
Crude495.1523.6524.5485.5484.4
Condensates 1/63.464.861.763.159.4
Average production per day 2/1.5301.6121.6061.4991.489
Crude1.3571.4341.4371.3271.327
Condensates0.1730.1780.1690.1720.162
Domestic consumption of fuel248.9257.0269.0293.0316.6
Percentage change0.53.34.78.98.1
As percent of total production44.643.745.953.458.2
Domestic refining303.9303.2336.1341.6338.6
Total exports344.1415.6367.8361.0375.2
Crude and condensates286.3324.0297.0283.7287.9
Refined products 3/57.891.670.877.387.3
Memorandum items:
Average domestic prices in rupiah per liter
Gasoline700700700700700
Diesel380380380380380
Kerosene280280280280280
Average domestic prices in
U.S. dollars per U.S. gallon
Gasoline1.271.231.181.130.57
Diesel0.690.670.640.610.31
Kerosene0.510.490.470.450.23
Source: Data provided by the Indonesian authorities.

Natural gas condensates.

Million barrels per day.

Includes liquified petroleum gas.

Source: Data provided by the Indonesian authorities.

Natural gas condensates.

Million barrels per day.

Includes liquified petroleum gas.

Table 8.Indonesia: Production and Use of Natural Gas 1993–97 1/(Billions of cubic feet)
19931994199519961997
Production2,6622,9422,9993,1643,166
Percentage change3.110.51.95.50.1
Pertamina/Lemigas241242287327340
Contract of work360000
Production sharing2,3852,6362,6702,8212,826
Use2,4502,7552,8352,9882,960
Percent of production92.093.694.594.493.5
Own use539594658701612
Fuel116114140151158
Gas lift67129157159158
Gas injection356351361391296
Sale286430509557568
Pusri fertilizer plants196197208222226
PGN Cirebon city gas0.01.0111
Cilamaya 2/7982000
Small industry11150300334341
Delivered1,6251,7311,6681,7311,779
Refineries3335343740
LNG exports1,5551,6641,5931,6611,714
LPG/LEX plant3732413325
Flared212182164176188
Percent of production8.06.25.55.65.9
Source: Data provided by the Indonesian authorities.

Components may not add to totals owing to rounding.

Mainly for industrial use (fertilizer, steel, and cement industries); also includes some home distribution in Jakarta and Bogor.

Source: Data provided by the Indonesian authorities.

Components may not add to totals owing to rounding.

Mainly for industrial use (fertilizer, steel, and cement industries); also includes some home distribution in Jakarta and Bogor.

Table 9.Indonesia: Indicators of Oil Exploration and Development Activity, 1993–98
199319941995199619971998
BudgetActualBudgetActualBudgetActualBudgetActualBudgetActualBudgetActual
(Seismic activity (km))
Total64,240128,73644,4278,25481,12498,445180,71388,550345,943393,934313,781313,097
Pertamina1,77319,18201,30501,7958007885764861,514508
Contracts of work20000000000000
Production-sharing contracts62,267109,55444,4276,94981,12496,650179,91387,762345,367393,448312,267312,589
Onshore7,76713,5217,9703,04119,7549,22339,19921,94043,04626,59088,07527,555
Offshore54,50096,03336,4573,90861,37087,427140,71465,822302,321366,858224,192285,034
(Exploration wells drilled)
Total1931141277910980164100184102206134
Pertamina1211088915151414144
Contracts of work220000000000
Production-sharing contracts17910112771101711498517088192130
Onshore593058333628514170348161
Offshore120716938654398441005411169
(Petroleum company expenditures; in millions of U.S. dollars) 1/
Total4,4243,4394,1353,3573,7353,0583,8223,4763,8894,4955,1504,507
Exploration and development2,6371,8152,3001,6861,2649251,3191,0971,6041,6382,4422,265
Production1,3001,2431,4191,3012,0861,7492,1231,9841,9422,4342,0631,642
Administrative487382417370385384380395343423645600
Sources: Data provided by the Indonesian authorities.

Excludes Pertamina. Spending on exploration and production facilities by production-sharing contractors is technically nondirect foreign investment, since Pertamina assumes title to all equipment when it enters Indonesia; the contractor, however, possesses contractual rights to beneficial use.

Sources: Data provided by the Indonesian authorities.

Excludes Pertamina. Spending on exploration and production facilities by production-sharing contractors is technically nondirect foreign investment, since Pertamina assumes title to all equipment when it enters Indonesia; the contractor, however, possesses contractual rights to beneficial use.

Table 10.Indonesia: Non-Oil/Gas Mining Production, 1993–97
19931994199519961997
(In thousands of metric tons)
Tin28.630.638.451.055.2
Copper928.21,065.51,516.61,758.91,817.8
Nickel ore1,975.82,311.52,513.43,426.92,829.9
Bauxite1,320.41,342.4899.0842.0808.7
Coal27,569.031,012.041,422.050,332.054,797.0
Iron sand concentrate341.3334.9348.4425.1487.3
Gold42.042.562.883.689.9
Silver90.3107.0265.2255.4279.1
(Percentage change)
Tin-10.97.025.532.88.2
Copper2.414.842.316.03.3
Nickel ore-21.217.08.736.3-17.4
Bauxite64.31.7-33.0-6.3-4.0
Coal19.212.533.621.58.9
Iron sand concentrate18.6-1.94.022.014.6
Gold9.91.247.833.17.5
Silver-10.318.5147.9-3.79.3
Sources: Data provided by the Indonesian authorities; and staff estimates.
Sources: Data provided by the Indonesian authorities; and staff estimates.
Table 11.Indonesia: Domestic Rice Prices, 1993–98(In rupiah per kilogram)
MarketGovernment
MarketInterventionSupport PricePurchase
Price 1/Price 2/Paddy 3/RicePrice 4/
1993
March600620330536614
June580640330536660
September585640330536660
December598620330536660
1994
March626600380560700
June636630380560700
September707630380560700
December715630380560700
1995
March733650400657708
June738670400657788
September818700400657788
December833700400657788
1996
March856725450738788
June855750450738868
September910825450738868
December918825450738868
1997
March1013850525856868
June1022975525856998
September1089925525856998
December1215925525856998
1998
March1475925600971998
June1988160070011251924
September30101750100016601924
December27732100 5/1450 5/2390 5/1924
Source: Data provided by the Indonesian authorities.

Monthly national average retail price for medium-quality rice.

Price at which BULOG sells rice in the open market. The price shown here is for medium quality rice in Java

Paddy prices paid by cooperatives to farmers and rice prices paid by BULOG to cooperatives. Prices are adjusted when it is needed.

Price that the Government pays BULOG for its rice deliveries to civil servants and military.

Average across regions.

Source: Data provided by the Indonesian authorities.

Monthly national average retail price for medium-quality rice.

Price at which BULOG sells rice in the open market. The price shown here is for medium quality rice in Java

Paddy prices paid by cooperatives to farmers and rice prices paid by BULOG to cooperatives. Prices are adjusted when it is needed.

Price that the Government pays BULOG for its rice deliveries to civil servants and military.

Average across regions.

Table 12.Indonesia: BULOG Rice Program, 1993/94–1998/99(in thousands of metric tons)
1993/941994/951995/961996/971997/981998/991/
Beginning stock1,8517586502,3702,3981,163
Domestic procurement1,7569631,0731,8251,383400
Imports 2/01,8003,0283341,7145,992
Total availability3,6073,5214,7514,5295,4957,555
Distribution2,8442,8712,3652,1594,3285,707
Government1,6611,6761,6851,6951,6911,735
State enterprises968577777682
Market operations4151,0365913482,5102,445
Special market operations 3/1,405
Exports616530000
Other562112155140
Losses plus statistical discrepancies5016235
End stock7586502,3702,3981,1631,843
Memorandum item:
Rice production 4/31,31830,31332,33432,87431,20629,107
Source: Data provided by the Indonesian authorities.

Estimated

Includes repayment of loans in kind.

Targeted rice subsidy program distributions.

On a calendar year basis.

Source: Data provided by the Indonesian authorities.

Estimated

Includes repayment of loans in kind.

Targeted rice subsidy program distributions.

On a calendar year basis.

Table 13.Indonesia: Approvals of Domestic Investment Projects by Economic Sector, 1993–98 1/(In billions of rupiah)
199319941995199619971998 2/
Number of

Projects
Intended

Capital

Outlay
Number of

Projects
Intended

Capital

Outlay
Number of

Projects
Intended

Capital

Outlay
Number of

Projects
Intended

Capital

Outlay
Number of

Projects
Intended

Capital

Outlay
Number of

Projects
Intended

Capital

Outlay
Agriculture493,093867,40110610,09715816,07227014,8083144,585
Mining and quarrying96961121420513460124126205116
Manufacturing28224,03840531,92236043,14231459,2183,34479,3353,68243,969
Food412,073524,045725,1605313,74825013,0492726,192
Textiles423,539575,518347,177283,3665496,8316151,047
Wood and wood products261,373281,171252,010211,1292387622831,933
Paper and paper products192,209303,749306,0332912,7649411,84210312,754
Pharmaceuticals17862285281257477247124
Chemicals717,6891105,150878,7417713,33570722,42577415,181
Nonmetallic minerals245,399418,547369,089387,96513811,6391533,469
Basic metals6187181,66492,380154,4611138,0221231,786
Metal products501,467601,784552,138492,3761,1014,6841,199960
Other22436671332171079113523
Construction71871173120848281,5503008773301,992
Services20112,07031513,12327615,36129723,4152,30813,2362,3277,464
Hotels453,051934,342583,793535,0197232,5887201,147
Housing283,049283,336184,659508,6882873,960289761
Transportation1013,8271583,1201563,9651193,0669754,6499873,244
Trade112533715311132404544381
Other services262,018332,322372,791646,5112831,9942872,231
Total54839,45782353,28977669,653810100,7156,346108,3826,85858,126
Source: Data provided by the Indonesian authorities.

Includes new projects and extensions of existing projects, but excludes investment in petroleum, banking, insurance, and leasing sector.

Up to November 1998

Source: Data provided by the Indonesian authorities.

Includes new projects and extensions of existing projects, but excludes investment in petroleum, banking, insurance, and leasing sector.

Up to November 1998

Table 14.Indonesia: Approvals of Foreign Investment Projects by Economic Sector, 1993–98(In millions of US dollars)
199319941995199619971998 1/
Agriculture1607301,3841,521464965
Mining and quarrying---1,69720
Manufacturing3,42318,74026,89316,07223,0178,306
Food1411,2351,332691573339
Textile419396471515373206
Wood and wood products50682631017065
Paper and paper products2025,1202,5412,9075,35337
Pharmaceuticals1213743375
Chemicals1,1717,74319,3687,36212,3396,167
Nonmetallic minerals986322897901,457237
Basic metals1862,082292651357394
Metal products1,1141,4232,2582,9382,332842
Other3040427412715
Construction9777206297307196
Services4,4644,17911,43210,3452,7362,361
Hotels3943449991,717463423
Electric, gas plus water2,2762,3973,5493,8091,8401,795
Other1,7941,4386,8844,819434143
Total8,14423,72639,91529,93226,52611,829

Up to November 1998

Up to November 1998

Table 15.Indonesia: Approvals of Foreign Investment Projects by Country of Origin, 1993–98(In millions of US dollars)
199319941995199619971998 1/
Europe9303,5868,9515,23511,7405,273
Netherland3111663601,330320409
Belgium10-9401711
United Kingdom3012,9576,3223,3915,4744,741
Germany1211131,3451654,46870
France15837498714577
Switzerland187145160748
Other112423727893328
North and Central America5281,0282,7967541,113697
United States4459772,7716421,018565
Canada4739213668
Panama36644289-
Other-6-34-123
Asia3,65814,1349,23518,37115,1704,375
Hongkong3846,0421,7631,106251511
Japan8361,5273,7927,6555,4211,198
Malaysia374228771,3932,2891,031
Philippines-36313-63
Singapore1,4601,6641,4693,1312,2991,215
Thailand312351,611193
Taiwan Province of China1312,4885675353,419159
Korea6611,8496751,2311,410167
Other14694261,7066129
Australia and New Zealand158533,71251618878
Other2,8725,09015,2215,0575,6222,741
Total8,14623,89139,91529,93333,83313,164

Up to November 1998

Up to November 1998

Table 16.Indonesia: Indices of Inflation, 1993–98(Percentage change from previous year)
199319941995199619971998
(Period average)
GDP deflator8.97.89.98.712.083.3
Consumer price index9.78.59.47.96.658.0
(End period)
Consumer price index10.29.69.06.611.677.6
Food5.114.714.16.119.9118.4
Of which: Rice 1/0.120.614.85.927.0137.1
Housing16.69.45.84.86.247.5
Clothing8.26.26.75.97.998.7
Miscellaneous10.35.07.210.08.4
Analytical indices
Non-food12.77.36.56.97.357.4
Administered10.39.15.87.610.366.9
Non-administered10.29.810.16.312.180.6
Wholesale price index2.510.89.77.727.791.9
Excluding oil/gas6.110.29.24.122.6100.0
Agriculture15.223.413.511.317.992.4
Mining9.710.111.610.07.238.5
Manufacturing6.29.07.82.310.190.3
Imports1.92.88.23.426.1117.5
Exports-11.216.112.719.864.764.3
Excluding oil/gas9.418.810.1-1.082.291.4
Sources: Data provided by the Indonesian authorities; and staff estimates.

Average retail price for medium-quality rice.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Average retail price for medium-quality rice.

Table 17.Indonesia: Consumer Price Index, 1993–98(1988/89=100)
FoodHousingClothingMiscellaneousTotal
Weights34.727.811.326.2100.0
1991
March373.3405.4309.8364.2374.5
June386.0410.4318.9374.4384.0
September394.5424.7321.5404.7399.2
December403.0435.8324.2411.1407.3
1992
March413.5438.8327.6414.4412.9
June423.5444.9337.0417.7419.8
September423.6449.3340.7422.2422.3
December427.8456.0348.3425.2427.8
1993
March140.8149.4133.2147.8144.0
June136.6153.3136.6150.3144.7
September134.6159.6137.8152.5146.6
December136.8163.2138.9154.0148.8
1994
March149.0165.1143.6155.8154.4
June149.5167.8144.4156.9155.8
September154.4173.4145.6160.2160.2
December157.0178.6147.5161.7163.2
1995
March167.3180.8151.7163.5168.2
June170.9185.1153.3168.1172.1
September173.7187.2155.4170.9174.6
December179.1188.9157.4173.3177.8
1996
January187.2190.4160.2175.2181.7
February194.7191.4162.0175.4184.8
March190.4192.2162.1175.5183.7
April186.7193.4162.8184.0185.1
May185.6194.2163.8184.9185.2
June184.7194.5163.9185.2185.1
July186.6195.3164.7186.3186.3
August186.0195.8165.0188.4186.8
September184.6196.8165.5188.6186.8
October184.5197.9165.8190.5187.5
November187.6197.9166.0190.6188.6
December190.0198.0166.8190.7189.6
1997
January193.5198.5167.7192.5191.6
February198.3198.5169.7193.4193.6
March197.7198.9170.0192.6193.4
April197.7200.8170.1194.5194.4
May198.3201.3170.3194.6194.8
June196.8201.8170.3194.8194.5
July199.0202.2170.6196.2195.8
August201.1203.3171.5198.3197.5
September204.9205.0172.5200.8200.0
October212.3207.4176.6202.1204.0
November220.1208.5176.3203.7207.4
December227.9210.4180.0206.7211.6
1998
January251.0218.0202.6215.3226.2
February291.4239.9234.2235.4255.0
March307.2248.3263.5245.5269.0
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 17a.Indonesia: Consumer Prices, January - December 1998
Jan.Feb.Mar.Apr.MayJun.Jul.Aug.Sep.Oct.Nov.Dec.
(Index 1996 = 100)
Total CPI119.9135.0142.2148.8156.6163.9177.9189.1196.2195.7195.9198.6
Food125.1147.1156.4166.6173.2184.6205.0223.3237.6235.4235.9241.4
Unprocessed food133.3157.8166.7176.6183.4196.422032403261.0256.2255.7263.2
Processed food114.5132.7142.2153.21593167.9184.0200.0206.0207.2208.6211.6
Nonfood116.6127.6133.4137.9146.4151.21613168.1170.8171.3171.3172.3
Housing113.8123.3128.6131.6137.0139.2146.9153.5155.9157.4158.1159.0
Clothing127.3145.1161.4168.4176.01953219.2225.7225.2221.0216.0219.7
Health124.2149.0155.9164.1168.1172.0186.4198.0204.5208.6210.7212.5
Education & recreation121.6131.7134.7136.8138.7140.8150.4160.2162.2162.8162.3161.8
Transport & communication111.4117.9119.7125.71473150.4155.6159.8163.2163.6163.5163.7
(Monthly percentage change)
Total7.1712.675.274.705.244.648.566.303.75-0.270.081.42
Food8.2217.556.336.573.966.5311.098.916.43-0.940.21233
Unprocessed food10.5518.415.655.913.897.0712.169.108.61-1.85-0.182.94
Processed food5.1415.957.157.684.005.439.588.702.960.610.691.41
Nonfood6.499.454.523.356.193.266.674.261.580300.000.58
Housing5.528.344.322.294.131.595.584.481.570.920.480.58
Clothing15.1214.0111.204.344.5310.9512.262.96-0.23-4.89-2.251.72
Health8.7919.934.635.292.402338.406.213.282.001.020.87
Education&recreation3.728312.281.501.411.556.826.471.240.41-030-0.31
Transport&communication5.855.811.594.9417.252.073.452.742.130.23-0.080.14
(12 month percent change)
Total18.432.039.144.852.159.572.081.285.681.578.777.6
Food21.040.049.358.864.976.594.3109.5120.3113.5108.9108.8
Nonfood13.323.729.032.640.244.553.058.159.058.158.557.3
(Year-to-date percent change)
Total7.220.727.133.140.146.659.169.175.575.075.177.6
Food8.227.235.344.249.959.677.393.1105.6103.6104.1108.8
Nonfood6.516.621.825.933.738.147.353.556.056.456.457.3
Source: Data provided by the Indonesian authorities; and staff estimates.
Source: Data provided by the Indonesian authorities; and staff estimates.
Table 18.Indonesia: Wholesale Price Index, 1995–98(1983 = 100)
ExportsGeneral Index
IncludingExcludingIncludingExcluding
AgricultureMiningManufacturingImportsOil/GasOil/GasOil/GasOil/Gas
Weights11.81.030.631.025.619.810094.2
1995
March344256251224180294235257
June350264257229179301240264
September359272260239174303242268
December371279262237187306248272
1996
March388289263240196311254277
June403296266243196308258281
September403300266245206304261281
December413307268245224303267283
1997
January418308268245232303270284
February424310269246219303268286
March429312270247207304266287
April431316270247202305265288
May431316270247202308265288
June436314271247195308264289
July440315271249198315266291
August446317272252218336273295
September459322277267237370286307
October464325281284291417307320
November476327288286286416309324
December487329295309369552341347
1998
January533334326457565876452447
February582352361512572926487492
March609357379553556962505522
April639369392541501845495518
May6793764125826091006546560
June7163774316277691292611610
July7763884696898101328660660
August8174065066716921191641664
September8884255396706271086642679
October912438548639517858610658
November916453548622470796593647
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 19.Indonesia: Nominal Wages and Labor Force, 1993–97
19931994199519961997
MinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximumMinimumMaximum
(Monthly wages in thousands of rupiah) 1/
Agriculture1701,8352401,8352721,9272721,9414144,273
Mining and quarrying4143,9984874,6695064,9065734,9069528,236
Manufacturing industry1962,9202073,1122383,4532413,4534396,050
Electricity, gas, and water supply1552,6442962,7443273,0474093,6214685,862
Construction2902,6561732,7772673,5523123,9086446,380
Trade and banks3053,7333264,5063684,9043995,8086279,308
Transportation2232,8054674,3114944,3994934,3999016,598
Services2352,2712352,5092812,7803322,7805524,419
Average of sector wages2492,8583043,3083443,6213793,8526246,391
Annual percent change6.011.922.315.813.29.510.16.464.665.6
Minimum wage (regional average) 2/7294112118130
Annual percent change17.730.819.55.410.2
(In millions)
Labor force 3/82.684.385.990.191.3
Employment80.081.683.985.787
Agriculture38.638.338.937.735.8
Mining and quarrying0.90.90.90.80.9
Manufacturing10.110.411.210.811.2
Trade11.912.212.716.117.2
Other18.619.220.219.321.9
Sources: Data provided by the Indonesian authorities; and staff estimates.

Figures are based on periodic surveys of primarily urban-based business establishments and include transportation, meal, and attendance allowances.

Calculated from minimum daily figure for 30 days per month. Increased by 9 percent to Rpl22,000 in 1996 and by 10 percent to Rp 135,000 in 1997.

Ages ten and over.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Figures are based on periodic surveys of primarily urban-based business establishments and include transportation, meal, and attendance allowances.

Calculated from minimum daily figure for 30 days per month. Increased by 9 percent to Rpl22,000 in 1996 and by 10 percent to Rp 135,000 in 1997.

Ages ten and over.

Table 20.Indonesia: Domestic Sales and Prices of Oil Products, 1990/91–1998/99
AutomotiveIndustrialFuel
TotalAvigasAvturSuperPremiumKeroseneDieselDieselOil
(In millions of liters)
Domestic sales
1990/9133,0989748606,4177,91511,9171,7134,319
1991/9235,398979306,9318,18513,1601,732- 4,588
1992/9338,161885307,2648,56915,0431,7864,638
1993/9440,593895307,5988,74416,6011,8104,879
1994/9541,21081,65308,5828,98016,3251,7963,866
1995/9643,41481,82509,4069,39517,3581,5193,903
1996/9747,47381,974010,2439,84119,4931,4574,457
1997/9851,96782,007010,9459,98222,2171,4105,398
1998/99 1/23,897363605,4404,9649,6216262,607
(In billions of rupiah)
Domestic sales proceeds
1990/918,1233224242,6241,3612,657366864
1991/9210,352328903,4651,6373,593448917
1992/9313,652332504,6192,1855,1895641,011
1993/9416,302340005,3102,4486,3086621,171
1994/9517,000369406,0082,5146,203650928
1995/9616,415369705,9822,3965,989497851
1996/9717,954375406,5152,5096,725476972
1997/9819,579376706,9612,5457,6654611,177
1998/99 1/12,483234704,9451,2664,811285829
(Rupiah per liter)
Average domestic price 2/
1990/91245300300400409172223182200
1991/92308364364500200273259200
1992/93308/363364/382364/382500/636200/255300/345259/327200/218
1993/94363382382636255345327218
1994/95363382382636255345327218
1995/96363382382636255345327218
1996/97363382382636255345327218
1997/98363382382636255345327218
1998/99 1/504545545909255500455318
Source: Data provided by the Indonesian authorities.

Up to September 1998

Prices do not include 10 percent value-added tax.

Source: Data provided by the Indonesian authorities.

Up to September 1998

Prices do not include 10 percent value-added tax.

Table 21.Indonesia: Summary of Central Government Operations, 1992/93–1998/99 1/
1992/931993/941994/951995/961996/971997/981998/99
Year

Budget
Year

Estimate
(In trillions of rupiah)
Total revenue and grants48.956.565.271.988.9107.8134.3142.4
Tax revenue45.449.258.064.778.2101.5122.6133.5
Oil and gas15.312.513.516.120.130.649.739.7
Non-oil and gas30.136.744.448.758.170.972.993.7
Nontax revenue3.06.96.76.610.26.311.48.9
Grants0.50.40.50.50.50.00.30.0
Total expenditure and net lending52.858.364.565.881.2115.7215.6179.9
Current expenditure25.430.634.038.350.070.2147.7128.2
Personnel9.611.112.613.014.518.126.424.5
Goods and nonlabor services2.93.04.35.28.16.710.711.0
Subsidies 2/0.91.51.50.11.620.958.846.3
Interest on external debt5.46.26.16.66.611.331.027.2
Other6.78.89.413.419.213.320.819.3
Development expenditure and net lending 3/27.427.730.527.531.245.567.951.7
Current balance23.526.031.233.638.937.6-13.414.1
Grosss interest costs of bank restructuring15.06.0
Privatization proceeds 4/15.05.0
Overall balance-3.9-1.70.76.17.7-7.8-81.3-38.6
Financing3.91.8-0.7-6.1-7.77.881.338.6
Domestic bank financing2.6-0.0-2.1-6.8-6.6-2.5-11.00.0
Recovery of bank assets0.00.0
Privatization proceeds 4/0.00.01.71.71.40.0
Net foreign financing1.41.8-0.3-1.0-2.410.392.338.6
(In percent of GDP)
Total revenue and grants16.616.516.315.216.016.214.113.5
Tax revenue15.414.314.513.714.115.312.912.6
Oil and gas5.23.63.43.43.64.65.23.8
Non-oil and gas10.210.711.110.310.510.77.78.9
Nontax revenue1.02.01.71.41.81.01.20.8
Grants0.20.10.10.10.10.00.00.0
Total expenditure and net lending17.917.016.113.914.617.422.617.0
Current expenditure8.68.98.58.19.010.615.512.1
o/w: subsidies 2/0.30.40.40.00.33.16.24.4
Development expenditure and net lending 3/9.38.15.85.66.87.14.9
Overall balance-1.3-0.50.21.31.4-1.2-8.5-3.6
Financing1.30.5-0.2-1.3-1.41.28.53.6
Domestic bank financing0.9-0.0-0.5-1.4-1.2-0.4-1.20.0
Recovery of bank assets0.00.0
Privatization proceeds 4/0.00.00.40.40.20.0
Net foreign financing0.50.5-0.1-0.2-0.41.69.73.6
Sources: Data provided by the Indonesian authorities; and IMF staff estimates.

The fiscal year runs from April 1 to March 31.

The large increase in subsidy payments recorded in the second semester reflects delays in making payments falling due in the first semester.

Including statistical discrepancy.

Prior to 1998/99, privatization proceeds are recorded as a financing item.

Sources: Data provided by the Indonesian authorities; and IMF staff estimates.

The fiscal year runs from April 1 to March 31.

The large increase in subsidy payments recorded in the second semester reflects delays in making payments falling due in the first semester.

Including statistical discrepancy.

Prior to 1998/99, privatization proceeds are recorded as a financing item.

Table 22.Indonesia: Central Government Revenue, 1992/93–1998/99
1992/931993/941994/951995/961996/971997/981998/99
Budget Estimate
(In billions of rupiah)
Tax revenue45,42249,17357,97964,74178,234101,475122,642133,462
Taxes on income and profits27,84627,26732,30137,06746,65064,92375,01486,942
Oil/gas15,33012,50813,53716,05520,15030,55949,71139,745
Non-oil/gas12,51614,75918,76421,01226,50034,36425,30347,197
Property taxes1,1071,4851,6471,8942,4002,6443,8242,897
Taxes on goods and services (VAT)10,74213,94416,54518,51921,55025,19528,94028,386
Excise taxes2,2422,6263,1533,5934,2175,1027,7567,974
Taxes on international trade3,2323,5694,0313,2152,8823,1266,4386,801
Import duties3,2233,5553,9003,0292,8073,0005,4952,218
Export duties914131186751269434,582
Other252283302453535487671462
Nontax revenue 1/2,9936,9456,7226,53010,1536,34011,6608,894
Profit receipts 2/1,0001,7131,3931,4782,6502,0534,0003,160
Other1,9932,9113,3234,5647,5034,2787,6605,734
Domestic oil operations surplus2,3212,0064880000
Total revenue48,41556,11864,70171,27188,387107,815134,302142,355
(In percent of GDP)
Oil/gas revenue5.23.73.43.43.64.45.23.8
Non-oil/gas revenue11.212.712.711.612.211.08.89.7
Non-oil/gas taxes10.210.711.010.310.410.17.68.8
Income taxes4.34.34.74.54.84.92.74.5
VAT3.74.14.13.93.93.63.02.7
Property taxes0.40.40.40.40.40.40.40.3
Excises0.80.80.80.80.80.70.80.8
International trade1.11.01.00.70.50.40.70.6
Nontax revenue1.02.01.71.41.80.91.20.8
Total revenue16.516.416.115.115.915.414.113.5
Memorandum item:
Average oil price (US$/bbl)18.316.016.417.420.718.613.012.6
Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes privatization receipts.

Profits transferred from public enterprises; includes Bank Indonesia.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes privatization receipts.

Profits transferred from public enterprises; includes Bank Indonesia.

Table 23.Indonesia: Details of Nontax Receipts, 1992/93–1998/99
1992/931993/941994/951995/961996/971997/981998/99

Budget
Total (including oil operations surplus and privatization receipts)2,9936,9458,5108,20411,5056,34026,660
Total (excluding privatization receipts)2,9936,9456,7936,53010,1536,34011,660
Profit1,0001,7131,3931,4782,6502,0534,000
Bank Indonesia53307128430771308413
Other state banks16011063210377105203
Public enterprises7871,2961,2028381,5031,6403,384
Remittances from government banks495245404432631
Fees579543671371350408452
Forest concession180131263123131203170
Immigration (embassies abroad)15111325312220
Education20731128358568095
Hospital3911771099
Passport5661661009977140
Censors6457757
Service621029341165
Marriage licenses144517566
Sales of goods176912382330
Agricultural63262613
Discarded32241044
Houses8152261313
Rental from government houses4555876
Licenses63138154142334197237
Hires413148454
Domestic oil operations surplus02,3212,006488000
Other 1/1,2772,1542,4963,9866,3263,6216,900
Receipts from Investment Fund1,1004001,5002,5611,2792,828
Self-financing receipts 2/63820311,3122,346
Other 3/1,0542,0961,8481,7341,0301,726
Memorandum item:
Privatization receipts1,7171,6741,352015,000
Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes proceeds from the privatization program, which are treated as financing.

Includes education and hospital fees, and transfer of Rp 400 billion from the Reforestation Fund in 1996/97.

Includes self financing receipts before 1995/96.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes proceeds from the privatization program, which are treated as financing.

Includes education and hospital fees, and transfer of Rp 400 billion from the Reforestation Fund in 1996/97.

Includes self financing receipts before 1995/96.

Table 24.Indonesia: Central Government Expenditure, 1992/93–1998/99
1992/931993/941994/951995/961996/971997/981998/99
BudgetEstimate
(In billions of rupiah)
Total expenditure and net lending52,83957,26264,18765,79181,168115,655215,590179,915
Current expenditure26,11430,55334,20938,29849,95370,194147,682128,247
Personnel9,55411,14512,59613,00114,45518,05226,37424,481
Material2,9293,0324,3195,1758,1096,73610,67311,018
Armed forces 1/7989731,2781,5943,4971,8343,6561,441
Transfers to regions5,3846,9097,2728,2279,3588,37112,45013,987
Interest on foreign debt5,7856,1576,3456,6156,61011,26331,03527,214
Subsidies8671,4551,5021431,60220,86258,81046,282
Petroleum6921,28068701,4169,81427,53428,217
Others17517581514318611,04731,27618,064
Other7978828973,5436,3223,0768,1863,826
Development expenditure and net lending 2/26,72426,70929,97827,49331,21545,46167,90851,668
Total expenditure and net lending18.016.816.014.014.716.522.617.0
Current expenditure8.99.08.58.19.010.015.512.1
Development expenditure and net lending 2/9.17.97.55.85.66.57.14.9
Sources: Data provided by the Indonesian authorities; and staff estimates.

Recurrent spending on goods and services only.

Derived as the sum of the current budget surplus and net financing.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Recurrent spending on goods and services only.

Derived as the sum of the current budget surplus and net financing.

Table 25.Indonesia: Functional Classification of Development Expenditure and Net Lending, 1992/93–1998/99 1/
1992/931993/941994/951995/961996/971997/981998/99

Budget
(In billions of rupiah)
General public services475565660741918933954
Government apparatus400486569624765796787
Law and order757991117153137167
Education3,0373,2973,3773,5624,3795,4929,512
Education, culture, and development of youth2,6452,7622,9893,1303,6364,6758,368
Science, technology, research and statistics3925353884327438171,144
Health, family planning, and welfare1,0361,1601,2571,2531,5832,6944,787
Housing and water supply8699541,1331,0381,1282,3075,615
Other community and social services9519731,1481,3171,5201,5282,687
Manpower and transmigration8848969821,0791,2841,2732,211
Religion6777166238236255476
Economic services15,27315,06115,27413,01413,24725,07030,846
Agriculture and irrigation 2/1,7551,9932,7702,6453,1425,26610,135
Industry and mining1,2449686318437811,318839
Electric power4,6393,9834,3413,0743,3006,4837,008
Transportation and tourism6,6767,2266,6315,8415,50010,99910,824
Information and communications430336219131171269422
Trade and cooperatives5295556824803537351,618
Regional, business and environment4,2925,2705,7506,1196,8676,59512,536
Regional development3,1173,5884,5895,2485,7505,91911,686
Investment through banking system5478217664325502470
Natural resources628861395439567652780
Total (adjusted official data)25,93327,28028,59927,04429,64244,61966,937
Residual 3/791-5711,3794491,573842971
Total (staff estimate) 4/26,72426,70929,97827,49331,21545,46167,908
(In percent of total) 5/
General public services1.82.12.32.73.12.11.4
Education11.712.111.813.214.812.314.2
Health4.04.34.44.65.36.07.2
Housing and other social services 6/3.63.84.54.74.65.28.4
Economic services78.977.876.974.772.274.468.8
Agriculture and irrigation 2/6.87.39.79.810.611.815.1
Industry and mining4.83.52.23.12.63.01.3
Electric power17.914.615.211.411.114.510.5
Transportation and tourism25.726.523.221.618.624.716.2
Information and communications1.71.20.80.50.60.60.6
Trade and cooperatives2.02.02.41.81.21.62.4
Manpower and transmigration3.43.33.44.04.32.93.3
Regional development12.013.216.019.419.413.317.5
Other and unallocated4.56.24.13.23.82.12.0
Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes defense and national security, and fertilizer subsidy.

Excludes fertilizer subsidy.

Derived as the difference between Fund definition and authorities’ estimates of development expenditure and net lending.

Derived as the sum of the current budget surplus and net financing (Fund definition).

Excludes the residual.

Includes water supply and religion.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Excludes defense and national security, and fertilizer subsidy.

Excludes fertilizer subsidy.

Derived as the difference between Fund definition and authorities’ estimates of development expenditure and net lending.

Derived as the sum of the current budget surplus and net financing (Fund definition).

Excludes the residual.

Includes water supply and religion.

Table 26.Indonesia: Summary of Provincial Finances, 1992/93–1998/99
1991/921992/931993/941994/951995/961996/971997/981998/99

Budget
(In billions of rupiah)
Own revenue2,1242,2342,8443,7644,8415,5085,9355,773
Tax1,4631,6012,0822,8553,6054,1234,4974,676
Nontax6616337629091,2361,3851,4381,097
Total transfers3,7494,5415,1355,3625,5465,9886,3323,423
Current transfers from central government2,8183,3793,9294,0204,1464,4584,6141,652
Capital transfers from central government9311,1621,2061,3421,4001,5301,7181,771
Total revenue and grants5,8736,7757,9799,12610,38711,49612,2679,196
Current expenditure3,8804,6715,4025,9896,7867,5968,1325,225
Wages and salaries2,6763,2723,8773,9914,2274,5294,7461,847
Expend, on goods and services7178078641,0771,2762,4242,6612,672
Pensions11410011-
Subsidies4765886609211,283642724706
Development expenditure2,0112,2012,4132,8483,4804,3264,3804,261
Capital expenditure1,8001,9642,1672,5723,0703,8003,8603,794
Transfers to local government211237246276410526520467
Total expenditure5,8916,8727,8158,83710,26611,92212,5129,486
Overall balance-18-97164289121-426-245-290
(In percent of GDP)
Memorandum items:
Own provincial revenue0.80.80.80.91.01.00.80.6
Central government transfers1.51.51.51.31.21.10.90.4
Current expenditure1.51.61.61.51.41.41.20.5
Development expenditure0.80.70.70.70.70.80.60.4
Total expenditure2.32.32.32.22.22.21.81.0
Overall balance0.00.00.00.10.0-0.10.00.0
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 27.Indonesia: Monetary Survey, 1993–98
199319941995199619971998
Dec.Dec.Dec.Dec.Dec.Mar.Jun.Sep.Dec.
(In billions of rupiah; end of period)
Broad money180,731174,512222,638288,631355,643449,824565,785550,404577,381
Narrow money36,80545,37452,67764,08978,34398,270109,480102,563101,197
Currency14,43118,63420,80722,48728,42438,19644,92442,72541,394
Demand deposits22,37426,74031,87041,60249,91960,07464,55659,83859,803
Quasi money143,926129,138169,961224,542277,300351,554456,305447,841476,184
Rupiah time and savings deposits118,48298,372130,891174,968186,311240,945277,966305,883358,649
Foreign currency deposits25,44430,76639,07049,57490,989110,609178,339141,958117,535
Foreign assets (net)29,70025,27232,62750,64167,985112,930246,557200,088141,677
Bank Indonesia 1/38,80837,28242,48359,56591,609134,705248,499175,384123,863
Deposit money banks-9,108-12,010-9,856-8,924-23,624-21,775-1,94224,70417,814
Net domestic assets151,031149,240190,011237,990287,658336,894319,228350,316435,704
Domestic claims159,077191,751233,088286,740407,301494,646644,391550,739524,235
Claims on private sector164,799201,059248,433302,433435,137505,149685,132580,640527,733
Claims on public sector-5,722-9,308-15,345-15,693-27,836-10,503-40,741-29,901-23,498
Government (net) 2/-14,142-18,828-26,300-29,056-45,543-40,433-68,295-55,684-48,030
Public enterprises8,4209,52010,95513,36317,70729,93027,55425,78324,532
Other assets (net)-8,046-42,511-43,077-48,750-119,643-157,752-325,163-200,423-88,531
(Annual percentage change)
Broad money22.319.727.629.623.252.780.967.362.3
Narrow money28.723.216.121.722.254.656.554.829.2
Quasi money20.318.531.632.123.552.287.970.471.7
Net domestic assets30.028.627.325.320.938.023.934.051.5
Claims on private sector23.422.223.621.743.960.9103.851.721.3
Memorandum items:
Credit to business sector150,271188,880234,611292,921378,134476,841626,465535,975487,426
Net foreign assets (in billions USD)14.07611.48714.13621.25114.62013.56516.54718.70017.654
Bank Indonesia18.39216.94618.40724.99619.70116.18116.67816.39115.435
Deposit money banks-4.317-5.459-4.270-3.745-5.080-2.616-0.1302.3092.220
Foreign currency deposits12.11613.98516.92820.80319.56813.28611.96913.26714.646
Broad money at constant rate (10000 IDR/USD)460,329449,824565,785550,404577,381
Sources: Bank Indonesia

SDR Liabilities valued at 3,322 IDR/USD between Dec. 97 - March 98, 10,732.8 IDR/USD from June to Dec 1998.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Sources: Bank Indonesia

SDR Liabilities valued at 3,322 IDR/USD between Dec. 97 - March 98, 10,732.8 IDR/USD from June to Dec 1998.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Table 28.Indonesia: Balance Sheet of Bank Indonesia: Summary Format, 1993–98
199319941995199619971998
Mar.Jun.Sep.Dec.
(In billions of rupiah; end period)
Base money17,60622,15625,85234,77646,69061,78771,70570,30375,121
Statutory reserve shortfall00006042,3741,39700
Currency in circulation16,33520,85523,70826,31233,69845,09552,83549,87748,506
Commercial banks’ positive balance8849591,8048,03412,01213,27016,53919,78826,191
Private sector demand deposit3873423404303761,048934638424
Net foreign assets 1/38,80837,28242,48359,56591,609134,706248,499175,384123,862
Net domestic assets 2/-21,202-15,126-16,631-24,789-44,919-72,919-176,794-105,081-48,741
Domestic credit-16,088-7,415-7,066-15,41829,23186,41062,54792,446104,202
Net claims on government 3/-7,574-10,631-17,557-18,994-33,280-27,065-53,430-35,701-29,019
Liquidity support extended to banks3,1807,01510,7898,27162,929116,456167,584176,824173,540
Liquidity credit 4/11,05210,65310,42313,52715,11226,22819,37517,68017,453
Other claims6886011,0249809779421,0381,0131,061
Net position of monetary instruments-23,434-15,053-11,745-19,202-16,507-30,151-72,020-67,370-58,833
Net other items-5,114-7,711-9,565-9,371-74,150-159,329-239,341-197,527-152,943
(Annual percentage change)
Base money-25.816.734.534.370.872.171.260.9
Currency in circulation-27.713.711.028.166.689.976.543.9
Liquidity support extended to banks-120.653.8-23.3660.8987.81279.1932.3175.8
Liquidity credit--3.6-2.229.811.7119.032.617.315.5
Net position of monetary instruments--35.8-22.063.5-14.041.8304.0278.0256.4
Memorandum items:
Rupiah exchange rate IDR/USD2,1102,2002,3082,3834,6508,32514,90010,7008,025
Statutory reserve requirements2,2552,6173,4817,08612,61615,64417,93618,91921,717
NFA (in millions USD).18,39216,94618,40724,99619,70116,18116,67816,39115,435

SDR liabilities valued at 3,322 IDR/USD between Dec. 97 - March 98; 10,732.8 IDR/USD from June to Dec. 1998.

Defined as base money less net foreign assets.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Includes domestic letters of credit.

SDR liabilities valued at 3,322 IDR/USD between Dec. 97 - March 98; 10,732.8 IDR/USD from June to Dec. 1998.

Defined as base money less net foreign assets.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Includes domestic letters of credit.

Table 29.Indonesia: Balance Sheet of Bank Indonesia: Program Format, June 1997 - December 1998 1/
19971998
Jun.Sep.Dec.Mar.Jun.Sep.Dec.
Base money41,65441,06246,69061,78771,70570,30375,121
Statutory reserve shortfall07606042,3741,39700
Currency in circulation27,82028,25333,69845,09552,83549,87748,506
Currency23,75423,91628,42438,19644,92442,72541,394
Cash in vault4,0664,3375,2746,8997,9117,1527,112
Commercial banks’ positive balance13,37311,67112,01213,27016,53919,78826,191
Private sector demand deposit4613783761,048934638424
Net international reserves266,690245,560176,000131,800144,187140,378140,557
Net domestic assets 3/-158,364-143,108-85,310-37,063-36,435-34,981-30,297
Net domestic assets 2/-225,036-204,498-129,310-70,013-72,482-70,075-65,436
Net claims on government-38,725-39,388-38,497-25,025-32,072-29,025-27,965
Liquidity support extended to banks12,15217,12962,929116,456163,111172,980172,469
Liquidity credits 4/14,61615,07515,11226,22819,37517,68017,453
Other claims9629339779421,0381,0131,061
Net position of monetary instruments-17,825-17,823-16,507-30,151-72,020-67,370-58,833
Certificate Of Bank Indonesia /SBI (net)-17,328-16,865-44,883-30,151-70,779-67,370-58,833
Auction11,0918,9344,49617,24648,03448,72642,641
Base money15.1-1.413.732.316.1-2.06.9
Net international reserves1.0-7.9-28.3-25.19.4-2.60.1
Domestic credit-12.6-16.5-199.8268.3-10.219.99.3
Memorandum Items:
Rupiah exchange rate IDR/USD (end period)2,4503,2754,6508,32514,90010,7008,025
Statutory reserve requirements12,40612,43112,61615,64417,93618,91921,717
NIR (in millions of USD)26,66924,55617,60013,18014,41914,03814,056
Assets28,66627,99221,37516,52218,73720,54123,599
Liabilities1,9973,4363,7753,3424,3186,5039,544

All assets and liabilties in foreign currency are valued using a constant exchange rate of 10,000 IDR/USD.

Defined as base money less net international reserves.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Includes domestic letters of credit.

All assets and liabilties in foreign currency are valued using a constant exchange rate of 10,000 IDR/USD.

Defined as base money less net international reserves.

Excludes bonds issued as part of bank recapitalization program and standy borrowings from commercial banks.

Includes domestic letters of credit.

Table 30.Indonesia: Bank Indonesia Liquidity Support to Commercial Banks(In billions of rupiah; end-period)
Extended LendingDebit Balance PositionDiscount FacilitiesPurchase of bank guaranteed commercial paperOtherTotal Liquidity Support
Subordinated loanEmergency loanBridging LoanOverdraftFacility covering overdraftFacility IFacility IINew SchemeSBPUSpecial SBPUTrade Arrears 1/Gov. Bonds 2/
1997
June7,959351-2,675----1,167---12,152
July7,954351-1,394----1,167---10,866
Aug.7,954351-5,193----980---14,478
Sept.7,896965-3,664-1623,461-980---17,128
Oct.8,585475-8,850-8504,354-1,957---25,071
Nov.9,0654752,19810,700-8,4044,354-5,079---40,275
Dec.9,4224751,70615,343-678747-5,07929,479--62,929
1998-
Jan.9,3834741,70637,584--747-5,29129,477--84,662
Feb.9,3834751,70648,385--747-5,85629,477--96,029
Mar.9,2913505,65365,365--3671537,07228,205--116,456
Apr.9,2913505,63276,911---2926,01728,195--126,688
May9,2413505,58879,653---21,8663,47728,106--148,281
June9,2263505,58878,488---33,7503,25427,9219,007-167,584
July9,2393505,58879,501---35,8013,08727,54315,989-177,098
Aug.9,2533505,58833,70850,470--35,8011,91927,79213,339-178,221
Sept.9,2533505,58834,09950,320--35,79678527,78112,852-176,824
Oct.9,2534495,5886,61672,219--35,2201,68027,5629,283-167,870
Nov.8,7394495,5887,31372,206--35,2201,16127,5029,106-167,284
Dec.8,7234495,33516,85954,573--31,6101,01823,90311,07020,000173,540

Includes external arrears in rupiah.

Government bonds issued as part of bank restructuring.

Includes external arrears in rupiah.

Government bonds issued as part of bank restructuring.

Table 31.Bank Indonesia Liquidity Credit, 1992/1993–1998/1999 1/(In billions of rupiah)
1992/931993/941994/951995/961996/971997/981998/99
Mar.Mar.Mar.Mar.Mar.Mar.Jun.Sep.Dec.
BULOG1,8781,3531,3873,0583,58615,1557,6137,8385,876
Credit for rural banks157
Program Credit10,3418,8367,3496,9227,1738,1848,3828,73810,572
a. Cooperative4584265929281,3571,8231,9002,0133,714
-KUT 2/301041081842693083063771,804
- Kkop 3/4033919532103959770112
-KKPA 4/252832897129851,4201,4971,5661,798
b. Plantation/Estate3,5363,8492,9743,4073,4043,6693,7023,7393,776
-PIR, PIR Trans1,2101,4319391,0631,0601,0231,009973965
-PSN2,2662,3221,8722,0791,9442,0372,0262,0402,050
-PIR Trans Pasca Konversi6096163265400609667726761
c. Low Cost Housing 5/1,1941,2791,1381,3551,8392,4042,5102,7242,860
d. Small Business Credit (KPKM)
e. Passive Credit 6/5,1533,2822,6451,232573288270262222
Selective Credit00002122549172
a PKM (Micro Credit Project)212254972
b. Pawn Broker100
c. Others
Grand Total12,21910,1898,7369,98010,76123,35116,02016,62616,677
Total Excluding Bulog10,3418,8367,3496,9227,1758,1968,4078,78810,801
By Group of Bank:
State Banks10,7458,9787,4078,1968,53817,72912,81013,37313,176
Local Development Banks34627421863348308337265349
Private National Banks6285076741,2907,7534,7122,271385452
Foreign Banks and Joint Banks5004304374316026026022,6032,700
Total12,21910,1898,7369,98024,93723,35116,02016,62616,677
Source; Bank Indonesia

Bank Indonesia Liq. Credit (KLBI) are credit schemes provided by Bank Indonesia to finance government programs through commercial banks. Excludes domestic letters of credit

Credit for farming activity (KUT) is credit aimed to increase farmers’ production and earnings

Credit for Cooperatives (KKop) is credit aimed to encourage cooperative development, especially for the procurement and distribution of food and post-harvest financing

Credit for Member of Primary Cooperatives (KKPA) is credit to fullfill cooperative members’ need of working capital and investment fond for all sectors of economy

Credit for Low-cost Housing (KPRS/RSS) is credit to fullfill the housing need for low income persons.

Passive Credit Liquidity is credit extended by BI prior to Pakjan 90. The Scheme has expired, there are only repayments left

Source; Bank Indonesia

Bank Indonesia Liq. Credit (KLBI) are credit schemes provided by Bank Indonesia to finance government programs through commercial banks. Excludes domestic letters of credit

Credit for farming activity (KUT) is credit aimed to increase farmers’ production and earnings

Credit for Cooperatives (KKop) is credit aimed to encourage cooperative development, especially for the procurement and distribution of food and post-harvest financing

Credit for Member of Primary Cooperatives (KKPA) is credit to fullfill cooperative members’ need of working capital and investment fond for all sectors of economy

Credit for Low-cost Housing (KPRS/RSS) is credit to fullfill the housing need for low income persons.

Passive Credit Liquidity is credit extended by BI prior to Pakjan 90. The Scheme has expired, there are only repayments left

Table 32.Bank Indonesia Monetary Instruments Outstanding, 1993–1998(In billions of rupiah; end of period)
Open market operationsNet Position
SBI 1/Rupiah

Intervention 2/
SBPU

Repo 3/
SBI Repo

Facility 4/
of Monetary

Instruments 5/
199323,43400023,434
199415,05300015,053
199511,85100011,851
199618,5770649019,226
1997
March21,411016041621,155
June17,3280497017,825
September18,07009581,20517,823
December12,6253,5171,62491016,856
1998
January13,9192,624080315,740
February13,84505,56434619,063
March24,0496,132032129,860
April27,48414,7463,28552844,987
May55,4418,779027263,948
June56,08714,6901,2412071,998
July40,27732,0950072,372
August62,6526,1150068,767
September57,26810,0220067,290
October48,5678,8140057,381
November48,28310,1870058,470
December49,7159,2430058,958
Source: Bank Indonesia

Since July 1998, SBI’s are sold only through auction.

Open market operations used to manage short term banking system liquidity and interest rate conditions, introduced in December 1997.

Sale and Repurchase Agreement of bank guaranteed commercial paper (SBPU).

Standing facility to provide overnight liquidity to SBI auction participants.

Sum of columns 1 through 3 less column 4.

Source: Bank Indonesia

Since July 1998, SBI’s are sold only through auction.

Open market operations used to manage short term banking system liquidity and interest rate conditions, introduced in December 1997.

Sale and Repurchase Agreement of bank guaranteed commercial paper (SBPU).

Standing facility to provide overnight liquidity to SBI auction participants.

Sum of columns 1 through 3 less column 4.

Table 33.Bank Indonesia Certificates (SBIs) Outstanding by Holder, 1995–1998(In billions of rupiah, end of period)
DomesticForeign 1/Total
State BanksPrivate BanksRegional Development BanksForeign Joint Venture BanksNon Bank PublicState EnterpriseSub Total
19952,1302,634239281556,51211,851011,851
19963,1428,15461762156,44318,577018,577
19971,0912,194211,520183,4478,2914,33412,625
1998
January511670287,768173889,3824,53713,919
February616468147,7091408,8215,02413,845
March9982,6512311,29087015,0499,00024,049
April1,1922,775518,775374013,16714,31727,484
May8,47515,1362821,193926045,7589,68355,441
June10,57911,1646019,5502,957044,31011,77756,087
July6,7393,34633915,7573,150029,33110,94640,277
August6,99819,85673318,4726,682052,7419,91162,652
September5,64522,03688813,2634,943046,77510,49357,268
October5,93819,26510512,4232,113039,8448,72348,567
November8,32517,14211112,8402,192040,6107,67348,283
December9,11019,3335513,510657042,6657,05049,715
Source: Bank Indonesia

Includes holdings of foreign monetary authorities.

Source: Bank Indonesia

Includes holdings of foreign monetary authorities.

Table 34.Indonesia: Commercial Bank Credit by Group of Bank, 1993–98 1/(In billions of rupiah; end of period)
199319941995199619971998
Mar.Jun.Sep.Dec.
Total150,271188,880234,611292,921378,134476,841626,465535,975487,426
Rupiah121,129152,763188,921228,084261,614287,075289,000297,793313,243
Foreign currency29,14236,11745,69058,380116,520189,766337,465238,182174,183
State banks71,54380,01093,480108,925153,266202,569256,354231,292220,747
Rupiah59,73868,08579,39493,051113,436133,572135,847145,573160,113
Foreign currency11,80511,92514,08615,87439,83068,997120,50785,71960,634
Local development banks3,5544,2015,2426,4577,5397,1817,0096,7696,570
Rupiah3,5424,1765,1976,4067,4597,0316,7696,6106,445
Foreign currency1225455180150240159125
Private national banks60,44186,303111,644149,955168,723192,076241,833209,107193,361
Rupiah51,53472,33094,269123,788128,016131,539132,323130,134132,710
Foreign currency8,90713,97317,37526,16740,70760,537109,51078,97360,651
Foreign banks14,73318,36624,24527,58448,60675,015121,26988,80766,748
Rupiah6,3158,14710,01611,24512,62314,78313,82115,31713,850
Foreign currency8,41810,21914,22916,33935,98360,232107,44873,49052,898
Composition in percent
Total100.0100.0100.0100.0100.0100.0100.0100.0100.0
State banks47.642.439.837.240.542.540.943.245.3
Local development banks2.42.22.22.22.01.51.11.31.3
Private national banks40.245.747.651.244.640.338.639.039.7
Foreign banks9.89.710.39.412.915.719.416.613.7
Source: Data provided by the Indonesian authorities.

Includes credit to central government to financesmallholder plantations: excludes special credit facility.

Source: Data provided by the Indonesian authorities.

Includes credit to central government to financesmallholder plantations: excludes special credit facility.

Table 35.Indonesia: Commercial Bank Credit by Sector, 1993–98
199319941995199619971998
Mar.Jun.Sept.Dec.
(In billions of rupiah; end of period)
Total150,271188,880234,611292,921378,134476,841626,465535,975487,426
Agriculture12,05713,86015,52517,63026,00231,86541,66037,16039,308
Mining7777999131,6935,3166,9649,6467,7375,909
Manufacturing51,43260,21172,08878,850111,679157,982236,999199,496171,668
Trade37,79444,37254,22470,58682,264107,607135,897110,66096,364
Of which: exports13,13314,91819,15520,05139,72362,476105,96779,23260,324
Service industries35,82450,80666,58491,656113,569133,382164,650145,188139,124
Real estate5,5789,79013,52120,35620,19921,49727,05125,45724,060
Other 1/6,8099,04211,75612,15019,10517,54410,56210,27710,993
(Annual percent change)
Total22.325.724.224.929.155.890.545.428.9
Agriculture17.315.012.013.647.569.1109.071.251.2
Mining2.02.814.385.4.214.0154.3299.999.811.2
Manufacturing37.917.119.79.441.694.5178.696.853.7
Trade14.717.422.230.216.546.573.733.517.1
Of which: exports26.113.628.44.798.1181.7305.0134.851.9
Service industries38.541.831.137.723.938.254.220.822.5
Real Estate91.775.538.150.6(0.8)(9.6)3.7(6.9)19.1
Other 1/(47.1)32.830.03.457.283.62.9(8.0)(42.5)
Source: Data provided by the Indonesian authorities.

Includes mainly credit for housing, transportation, and household items.

Source: Data provided by the Indonesian authorities.

Includes mainly credit for housing, transportation, and household items.

Table 36.Indonesia: Maturity Structure of Bank Deposits and Credit, 1993–98 1/(In billions of rupiah)
199319941995199619971998
Mar.Jun.Sep.Dec.
Bank credits 2/133,478167,452205,326252,412279,781305,167307,367316,464333,104
Less than three months11,23512,00014,37117,06718,82722,94425,87631,41136,265
Three to six months5,6937,7168,7579,0708,7759,66110,85411,02811,388
Six months to one year57,66171,62587,587109,144119,422136,840133,476135,834138,914
One to three years12,14417,35022,28030,46630,64733,36034,05031,89632,257
Three years and more46,74558,76172,33186,665102,110102,362103,111106,295114,280
Bank deposits50,85462,38288,894119,165125,743177,954219,917256,290303,016
Less than three months8,79016,47622,30931,77856,524100,208150,506186,554201,676
Three to six months10,29413,37419,30224,08523,46920,4568,0577,04345,011
Six months to one year15,51815,65122,75231,62510,7056,9424,3883,5153,792
One to three years13,09911,80718,30423,25920,15324,73623,89620,11917,974
Unclassified3,1535,0746,2278,41814,89225,61233,07039,05934,563
Source: Data provided by the Indonesian authorities.

Includes state banks, private national banks, foreign banks, and local development banks, comercial banks, and rural banks. Excludes nonbank financial institution and foreign currency credits and deposits.

Bank credits above one year are classified as investment credits.

Source: Data provided by the Indonesian authorities.

Includes state banks, private national banks, foreign banks, and local development banks, comercial banks, and rural banks. Excludes nonbank financial institution and foreign currency credits and deposits.

Bank credits above one year are classified as investment credits.

Table 37.Indonesia: Rupiah Time Deposit Rates by Group of Bank, 1993–1998 1/(In percent per annum)
StatePrivate NationalForeign & Joint VentureAll Banks
1 mo3 mo1 mo3 mo1 mo3 mo1 mo3 mo
199311.312.814.815.811.311.413.414.5
19949.79.913.613.810.610.212.412.6
199514.413.917.417.414.514.716.716.8
199615.214.917.417.814.414.016.917.3
1997
March14.013.916.316.913.214.115.916.5
June13.613.515.916.312.613.515.515.9
July13.513.515.816.213.013.415.415.8
August24.123.127.621.328.614.127.121.7
September26.525.833.126.821.615.831.826.2
October23.925.932.329.320.018.530.727.7
November21.523.129.729.618.219.227.526.5
December19.719.927.727.817.718.025.423.9
1998
January20.419.128.427.017.717.525.722.9
February22.820.931.427.919.117.128.624.0
March42.925.446.330.423.818.844.527.3
April49.227.852.332.433.020.850.629.4
May58.132.457.834.739.622.357.433.0
June52.842.354.038.839.526.752.940.6
July50.344.152.342.140.431.251.043.0
August54.945.556.643.344.633.955.444.4
September61.048.263.247.449.734.761.847.4
October60.954.660.355.849.040.260.454.7
November54.153.052.253.543.344.153.053.1
December41.248.741.950.233.140.841.449.2
Sources: Bank Indonesia- Indonesian Financial Statistics.

Deposit rates are weighted averages of book value of deposits at original maturity.

Sources: Bank Indonesia- Indonesian Financial Statistics.

Deposit rates are weighted averages of book value of deposits at original maturity.

Table 38.Indonesia: Rupiah Credit Rates by Group of Bank, 1993–1998 1/(Percent per annum)
StatePrivate NationalForeign & Joint VentureAll Banks
Working

Capital
Term

Lending
Working

Capital
Term

Lending
Working

Capital
Term

Lending
Working

Capital
Term

Lending
199319.416.321.720.516.720.420.517.1
199416.814.318.518.115.118.217.815.0
199516.914.520.119.817.718.918.915.8
199617.015.120.519.917.719.519.216.4
1997
March16.915.120.019.416.319.418.816.4
June16.914.719.419.316.419.218.616.2
July16.814.619.519.116.819.318.616.0
August19.616.527.426.929.921.725.119.7
September21.016.728.928.726.423.126.420.3
October20.716.429.728.924.824.226.820.1
November20.916.429.428.124.124.126.419.8
December20.416.128.227.326.825.225.418.9
1998
January20.116.128.327.530.426.425.619.0
February19.816.328.628.132.827.325.619.2
March20.917.031.929.435.031.727.820.2
April22.117.734.133.838.135.429.521.6
May24.318.338.337.643.836.433.222.8
June24.818.438.937.345.536.933.822.7
July25.018.939.338.947.636.734.123.4
August27.020.239.338.950.236.135.024.2
September27.920.539.940.752.536.835.724.9
October28.522.039.740.651.537.135.725.8
November28.822.139.140.248.036.935.225.7
December29.022.438.740.342.935.534.826.0
Sources: Bank Indonesia- Indonesian Financial Statistics.

Credit rates are weighted averages of book value of loans at original maturity.

Sources: Bank Indonesia- Indonesian Financial Statistics.

Credit rates are weighted averages of book value of loans at original maturity.

Table 39.Indonesia: Foreign Exchange and Equity Markets, 1997–1998
Rupiah per USDTotal Volume in USD millions 1/Jakarta Stock Exchange
End PeriodPeriod

Average
HighLowSpotForward &

Swap
TotalValue of

Transactions

(billions of rupiah
Share Price

Index

1982=100
1997January23962459246723964,2344,8969,13010,292691.1
February24062474247824683,3634,0897,4538,834652.0
March24192484249124794,1724,9809,1529,064662.2
April24332496250224904,1164,7378,8538,621652.0
May24402506251225024,0135,4029,4159,885696.0
June24502517252225132,9266,1329,05812,088724.6
July25992527253025233,3116,1829,49313,110721.3
August30352708303525302,9484,3597,30812,549494.0
September32752990317829092,9664,1267,09210,200546.7
October36703584381033552,3593,7476,10510,170500.4
November36483441366032302,0923,2115,3037,256401.7
December46504827585036881,9483,0645,0129,312401.7
1998January1037592621360056501,0101,1212,13211,833485.9
February875089021005070508078851,69214,682482.4
March832593851080083258739711,84413,896541.2
April79707968842575007041,1281,83210,277460.1
May1052595541225079253909691,3595,097420.5
June149001317715250111503527861,1385,667445.9
July130001387614700130003638021,1658,709481.7
August110751211313000110754337321,1645,733342.4
September107001094911550107004445611,0055,073276.1
October755085621072571254344839175,905300.8
November73007712860073004644509158,390386.3
December8025768680687400353485838339398.0
Source: Bank Indonesia

Average daily volume; includes interbank and bank customer transactions; total volume is the sum of purchases and sales.

Source: Bank Indonesia

Average daily volume; includes interbank and bank customer transactions; total volume is the sum of purchases and sales.

Table 40.Indonesia: Summary Balance of Payments, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Current account-2,291-2,742-3,329-6,767-8,069-1,699
Oil/gas sector3,5152,5333,7843,4734,5371,519
Non-oil/gas sector-5,806-5,275-7,113-10,240-12,606-3,217
Export, fob35,30336,50442,08347,75452,03856,162
Oil6,3635,5126,3116,5297,5135,854
Gas4,1173,8224,1344,0875,2584,384
Non-oil/gas24,82327,17031,63837,13839,26745,924
Import, f.o.b.30,31232,32137,87646,07150,85847,405
Oil3,6453,9103,7243,9994,8654,195
Gas277288290297298298
Non-oil/gas26,39028,12333,86241,77545,69542,911
Oil/gas sector payments (net)-3,043-2,602-2,647-2,847-3,071-4,226
Non-oil/gas services (net)-4,509-4,522-5,129-5,823-6,178-6,230
Official transfers270200240220250
Capital account5,9917,0227,89012,91710,975-10,172
Long-term capital (net)3,5083,9412,9394,4435,7262,996
Official capital1,8031,970373-915-8201,163
Receipts7,1337,4736,4507,5025,2985,258
Amortization 1/5,3305,5036,0778,4176,1184,095
Direct investment1,7051,9712,5665,3586,5461,833
Oil/gas sector export credits14233438473550
Portfolio investment1,2011,9817741,7612,339-7,244
Other private capital2,200-1,2003,7335,3612,855-5,924
Commercial banks’ monetary movements-1,0601,967601,279--
Errors and omissions 2/1,113-4,018-6,008-2,7343,201-1,491
Overall balance4,812262-1,4473,4156,107-13,361
Bank Indonesia (increase -) 3/-4,812-2621,447-3,415-6,10713,361
Memorandum items:
Current account
(In percent of GDP)-1.6-1.7-1.8-3.2-3.40.9
Gross official foreign assets18.318.617.120.626.616.4
(In months of imports) 3/, 4/7.86.64.95.47.46.2
Sources: Data provided by the Indonesian authorities; and Fund staff estimates.

Includes prepayments.

Includes unrecorded private capital flows.

Includes official assets held as a contingency reserve by Bank Indonesia.

In months of the following year’s non-oil/gas imports.

Sources: Data provided by the Indonesian authorities; and Fund staff estimates.

Includes prepayments.

Includes unrecorded private capital flows.

Includes official assets held as a contingency reserve by Bank Indonesia.

In months of the following year’s non-oil/gas imports.

Table 41.Indonesia: Summary of Oil and Gas Current Account, 1992/93–1997/98(In millions of U.S. dollars unless otherwise noted)
1992/931993/941994/951995/961996/971997/98
Oil/gas current account3,5152,5333,7843,4734,5371,519
Oil1,3273171,3691,1751,259-68
Gas (LNG and LPG)2,1882,2162,4152,2983,2781,587
Total oil/gas exports, f.o.b.10,4809,33410,44510,61612,77210,239
Oil export value, f.o.b.6,3635,5126,3116,5297,5135,855
Crude5,3774,7105,2585,1855,9784,729
Products1,0318031,0631,3441,5351,125
Oil export volume (mn. barrel)353352383357366351
Crude292294296290288278
Products615887677873
Oil export prices (US$/barrle)18.215.616.216.920.316.4
Crude18.416.016.417.420.716.9
Products16.913.815.415.419.815.5
LNG export value, f.o.b.3,7643,5073,7473,6034,6863,977
LNG export volume (MMBTU mn.)124012771367126413701387
LNG export price (US$/MMBTU)3.02.82.72.93.42.9
LPG export value, f.o.b.353315387484572407
LPG export volume (’000 MT)249225462530261025002094
LPG export price (US$/’000 MT)141.5123.7157.3185.4196.5194.4
Oil/gas sector payments-6,964-6,799-6,662-7,143-8,990-10,567
Pertamina-2,236-2,200-2,125-2,746-3,413-3,441
Non-oil imports-58-77-89-180-138-138
Oil imports-1,970-1,937-1,867-2,315-3,122-3,168
Crude-1,089-850-1,019-1,103-1,358-1,124
Products-881-1,087-848-1,212-1,764-2,044
Services (net)-208-186-169-251-152-135
Factor income-1,731-1,094-1,500-2,052-2,307-2,774
Oil companies-560-205-607-1,104-1,236-1,593
Gas companies-1,171-889-893-948-1,071-1,181
Other payments and imports-2,997-3,505-3,037-2,856-3,270-4,352
Oil cost recovery-2,240-2,788-2,211-2,015-2,361-2,737
Gas imports-277-288-290-297-298-298
Gas cost recovery-480-429-536-544-611-1,317
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 42.Indonesia: Oil Balance of Payments, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Exports, f.o.b.6,3635,5126,3116,5297,5135,854
Contract of work91540000
Production sharing3,1532,7763,1773,3243,8093,322
In kind1,8491,7211,8421,6551,8951,224
Pertamina1,2709621,2921,5501,8091,308
Imports, c.i.f.-3,645-3,910-3,724-3,999-4,865-4,195
Contract of work-38-510000
Production sharing-1,579-1,845-1,768-1,504-1,605-889
Pertamina-2,028-2,014-1,956-2,495-3,260-3,306
Services-1,391-1,284-1,218-1,355-1,388-1,728
Contract of work-123-250000
Production sharing-1,060-1,073-1,049-1,104-1,236-1,593
Pertamina-208-186-169-251-152-135
Current account 1/1,3273171,3691,1751,259-69
Contract of work-70-220000
Production sharing514-143360716967839
In kind1,8491,7211,8421,6551,8951,224
Pertamina-966-1,238-833-1,196-1,603-2,132
Source: Data provided by the Indonesian authorities.

Recorded as net oil receipts in current account of balance of payments.

Source: Data provided by the Indonesian authorities.

Recorded as net oil receipts in current account of balance of payments.

Table 43.Indonesia: Gas Balance of Payments, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
LNG exports, f.o.b.3,7643,5073,7473,6034,6863,977
Exports, c.i.f.4,1473,9004,0383,8944,9494,299
Freight-383-393-291-291-263-322
LPG exports353315387484572407
Imports, c.i.f.-277-288-290-297-298-298
Services, nonfreight-1,652-1,318-1,429-1,492-1,682-2,499
Cost of recovery-349-249-310-310-328-1,088
Contractors’ share-1,172-889-893-948-1,071-1,184
Other charges-131-180-226-234-283-227
Current account2,1882,2162,4152,2983,2781,587
Source: Data provided by the Indonesian authorities.
Source: Data provided by the Indonesian authorities.
Table 44.Indonesia: Non-Oil/Gas Exports, 1992/93–97/98 1/(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Non-oil/gas exports24,82327,17031,71637,13839,26745,924
Agriculture 1/4,1574,3654,2485,4635,1005,405
Minerals2,1872,1092,7253,5973,7464,586
Manufactured goods 1/18,47920,69624,74328,07830,42135,933
Agriculture4,1574,3654,2485,4635,1005,405
Rubber1,0529491,3072,0121,7891,361
Palm oil 1/496578000
Coffee264340946643602597
Tea14414910693115172
Tobacco8073608180140
Pepper58598516091170
Animal products 2/1,2701,4351,5191,6911,6401,897
Tapioca1209665794519
Other foodstuff 1/460463
Copra cakes 1/6365
Hides434353433757
Other107115107661701992
Minerals2,1872,1092,7253,5943,7464,586
Tin14684130270287265
Copper7207599071,4221,5061,455
Nickel283341368367327226
Aluminum200171236313317294
Other 3/8387541,0841,2221,3092,346
Manufactured goods18,47920,69624,74328,07830,42135,933
Wood products 4/4,3785,9355,5945,4375,5055,555
Textiles5,8795,4395,8476,4026,0227,951
Footwear1,3561,6141,9632,2012,0702,170
Electrical appliances1,1001,3271,8542,8933,7163,251
Handicrafts6077321,0855915841,625
Metal products5836834969718941,372
Fertilizer147161202293302304
Cement1044737131255
Palm oil 1/1,0471,0281,0011,578
Other foodstuff 1/646710777809
Copra cakes 1/797810680
Other4,3254,7585,8937,4619,43211,183
Annual percentage increase31101717617
(Percent of GDP)171717181725
Source: Data provided by the Indonesian authorities; and staff estimates.

Since 1994/95, several commodities such as palm oil, other foodstuffs and copra cakes are recorded in Manufactured goods (previously in Agricultural products).

Mainly exports of shrimp.

Mainly coal.

Mainly plywood.

Source: Data provided by the Indonesian authorities; and staff estimates.

Since 1994/95, several commodities such as palm oil, other foodstuffs and copra cakes are recorded in Manufactured goods (previously in Agricultural products).

Mainly exports of shrimp.

Mainly coal.

Mainly plywood.

Table 45.Indonesia: Non-Oil/Gas Imports, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Non-oil/gas imports, c.i.f.26,39028,12333,86241,77545,69442,911
Imports by Government6157441,4202,8721,9722,404
Rice7304091,137106130
Wheat4804786258231,0821,319
Sugar6227133466290354
Other0239253446494601
Capital goods imports5,0965,4795,9067,1137,6486,042
Project aid3,4263,6873,8103,7133,4923,485
Public enterprises 1/561430313209284429
Foreign investment1,1091,3621,7833,1913,8722,128
General imports 2/20,67921,90026,53631,78936,07434,465
Of which:
Related to other private capital7434131,0151,7613,5751,866
Memorandum items:
Non-oil/gas imports
Annual percentage change22.16.620.423.49.4(6.1)
In percent of GDP18.317.318.620.319.730.7
Sources: Data provided by the Indonesian authorities; and staff estimates.

Imports for certain Pertamina (national oil company) and Garuda (national airline) projects financed by foreign loans

Private sector imports financed through general foreign exchange provided in the foreign exchange market or through private foreign borrowing; includes consumer goods, raw materials, and capital goods.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Imports for certain Pertamina (national oil company) and Garuda (national airline) projects financed by foreign loans

Private sector imports financed through general foreign exchange provided in the foreign exchange market or through private foreign borrowing; includes consumer goods, raw materials, and capital goods.

Table 46.Indonesia: Non-Oil/Gas Services Account, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Total services (net)-4,509-4,522-5,129-5,823-6,179-6,230
Receipts4,3295,0696,1757,0838,0438,283
Payments-8,838-9,591-11,304-12,906-14,220-14,513
Transportation (net) 1/-620-664-755-825-875-788
Travel (net)1,9042,1742,8923,1493,8363,967
Receipts3,3143,8114,8495,4006,2796,140
Payments-1,410-1,637-1,957-2,251-2,443-2,173
Investment income (net)-3,532-3,886-5,122-5,799-6,095-6,821
Interest receipts 2/7518838469739521,449
Bank Indonesia5025415585575131,203
Deposit money banks249342288416439245
Interest payments-3,908-4,276-5,338-6,011-6,003-6,884
Official 3/-3,003-3,117-3,421-3,450-3,047-2,712
Private 4/-905-1,159-1,917-2,561-2,956-4,172
Profit transfers-375-493-630-761-1,044-1,385
Foreign companies-350-453-570-724-1,000-1,335
Resident banks-25-40-60-37-44-51
Workers’ remittance264375480710812695
Government, n.i.e. (net) 5/-214-153-164-190-240-232
Other 6/-2,311-2,368-2,460-2,868-3,616-3,051
Source: Data provided by the Indonesian authorities.

Includes hire purchase, charter hire, repair, and dockings.

Interest on foreign exchange holdings.

Interest payments on medium- and long-term debt of the central government and public enterprises, including those related to the oil sector.

Estimated interest payments based on recorded debt to banks abroad only; coverage of private sector debt may not be complete.

Includes expenditures for embassies.

Comprises subscriptions, consulting fees, communications, film rentals, life insurance, advertisements, licenses, and patents.

Source: Data provided by the Indonesian authorities.

Includes hire purchase, charter hire, repair, and dockings.

Interest on foreign exchange holdings.

Interest payments on medium- and long-term debt of the central government and public enterprises, including those related to the oil sector.

Estimated interest payments based on recorded debt to banks abroad only; coverage of private sector debt may not be complete.

Includes expenditures for embassies.

Comprises subscriptions, consulting fees, communications, film rentals, life insurance, advertisements, licenses, and patents.

Table 47.Indonesia: Imports by Country of Origin (c.i.f.), 1992/93–1997/98 1/(In millions of U.S. dollars)
Country 2/1992/931993/941994/951995/961996/971997/98
Europe
Belgium and Luxembourg276340316392402318
Czechoslovakia 3/34533431360
France8938058529941,131886
Germany2,1522,0662,5122,8903,0292,614
Italy5575507268251,435820
Netherlands583585722674493540
Spain251206179228425288
Sweden294439322376750429
Switzerland255343305358367308
United Kingdom and Republic of Ireland7677957201,0181,1491,013
Other6601,0031,1201,3771,5071,339
Total Europe6,7227,1857,8089,16310,7248,555
Share (in percent)252523222422
North America
Canada4534273,8774,897746648
United States3,8773,1175657895,272177
Other4966267101,1211,0745,595
Total North America4,8264,1705,1526,8077,0926,420
Share (in percent)181415161617
Africa200148478600693593
Share (in percent)111122
Asia
China7451,0651,4531,5271,5491,389
Myanmar7459882714
Hong Kong208259242267256321
India196377351584872599
Japan5,9096,5627,8219,5498,5827,398
Korea1,9432,1242,2212,4202,5212,067
Malaysia510532580819880762
Pakistan104544717892143
Philippines6056678092122
Singapore1,6481,8341,9422,5143,1513,329
Thailand2842275628001,050806
Taiwan Province of China1,2981,5371,5321,8071,6541,415
Other1,1691,1321,7931,8481,9091,627
Total Asia14,08115,76318,67022,48122,63519,992
Share (in percent)51.454.755.054.451.552.3
Australasia
Australia1,4281,3801,6772,0362,5662,441
New Zealand and Oceania137187176204261221
Total Australasia1,5651,5671,8532,2402,8272,662
Share (in percent)655567
Grand total27,39428,83333,96141,29143,97138,222
Source: Data provided by the Indonesian authorities.

Includes oil and gas imports.

Indonesian classification.

Data refer to the former Czechoslovakia.

Source: Data provided by the Indonesian authorities.

Includes oil and gas imports.

Indonesian classification.

Data refer to the former Czechoslovakia.

Table 48.Indonesia: External Debt-Service Payments, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Total debt-service payments 1/9,2389,77911,41514,42815,10332,984
Amortization 1/
Public sector5,3305,5036,0778,4179,1004,674
Government 2/4,8405,1325,5465,9396,1184,095
(Prepayments)782000
Public enterprises4903715312,4782,982579
Private sector 3/21,113
Banks2,844
Non banks18,289
Interest payments3,9084,2765,3386,0116,0037,197
Public sector3,0033,1173,4213,4503,0472,712
Government2,6952,8433,0603,1332,7232,467
Public enterprises308274361317324245
Private sector 3/9051,1591,9172,5612,9564,485
Banks642
Non banks3,843
Debt service/exports 4/31.432.733.736.936.850.7
Public sector debt21.621.420.222.320.811.4
(excluding prepayments)18.622.320.811.4
Government10.1
Public enterprises1.3
Private sector39.4
Banks5.4
Non banks34.0
Interest payments/exports 4/10.110.611.411.310.311.1
Sources: Data provided by the Indonesian authorities; and staff estimates.

Includes prepayments.

Estimated interest based on recorded debt to banks abroad only.

No reliable data on private sector debt service are available before 1997/98.

As a percentage of exports of goods and nonfactor services.

Sources: Data provided by the Indonesian authorities; and staff estimates.

Includes prepayments.

Estimated interest based on recorded debt to banks abroad only.

No reliable data on private sector debt service are available before 1997/98.

As a percentage of exports of goods and nonfactor services.

Table 49.Indonesia: External Debt Outstanding, 1992/93–1997/98(In billions of U.S. dollars unless otherwise noted)
1992/931993/941994/951995/961996/971997/98
Total external debt (by debtor)83.789.3101.2105.8113.1138.0
Public sector55.560.267.662.856.359.9
Government50.955.062.658.652.654.1
Public enterprises4.65.25.04.23.63.8
LNG expansion4.04.54.44.33.23.5
Domestic securities owned by nonresident2.0
Private sector 1/, 2/28.229.133.742.956.978.1
Banks6.18.29.08.99.612.8
Nonbanks22.120.924.634.047.260.8
Domestic securities owned by nonresident4.5
Total external debt (by creditor)
Public sector100.0100.0100.0100.0100.0100.0
Suppliers’ credits1.81.51.51.61.41.2
Financial institutions25.425.826.126.026.629.1
Bonds0.70.20.10.00.70.7
Multilateral institutions30.029.328.230.329.730.8
Bilateral34.735.737.535.136.132.3
Nationalization0.20.10.10.10.10.1
LNG expansion7.37.46.56.85.45.8
Memorandum items:
Outstanding debt/GDP58.955.856.152.348.274.8
Public sector debt/GDP39.137.637.531.123.932.5
Private debt/GDP19.818.218.721.224.342.3
Outstanding debt/exports of goods and nonfactor services216.7221.6215.7199.0192.9212.3
Public debt on concessional terms 3/47.347.143.939.732.527.4
Share of public debt denominated in:
U.S. dollars41.438.336.742.044.343.6
Japanese yen41.245.345.339.837.334.1
Sources: Data provided by the Indonesian authorities, World Bank Debtor Reporting System, and BIS, International Banking and Financial Market Developments; and staff estimates.

Until 1993/94, based on BIS data. From 1994/95, new staff estimates for private nonbank debt are based on improved coverage of private debt by Bank Indonesia.

Based on recorded debt to banks abroad only.

Public debt at variable rates or on concessional terms in percent of total public debt; calendar year.

Sources: Data provided by the Indonesian authorities, World Bank Debtor Reporting System, and BIS, International Banking and Financial Market Developments; and staff estimates.

Until 1993/94, based on BIS data. From 1994/95, new staff estimates for private nonbank debt are based on improved coverage of private debt by Bank Indonesia.

Based on recorded debt to banks abroad only.

Public debt at variable rates or on concessional terms in percent of total public debt; calendar year.

Table 50.Indonesia: Public Sector External Debt Transactions, 1992/93–1997/98 1/(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Government sector
Outstanding debt at beginning of period44,48450,88755,03762,56958,610-52,635
Net drawings9151,063105-209-8204,198
Drawings 2/5,7556,1955,6515,7305,2988,293
Amortization 3/4,8405,1325,5465,9396,1184,095
Adjustment 4/5,4883,0877,427-3,750-5,155-2,674
Outstanding debt at end of period50,88755,03762,56958,61052,63554,159
Public enterprises
Outstanding debt at beginning of period3,7714,6105,1825,0094,2393,646
Net drawings746573-116-779-1,004199
Drawings 2/1,2369444151,6991,978778
Amortization4903715312,4782,982579
Adjustment 4/94- 1-579411-3
Outstanding debt at end of period4,6105,1825,0094,2393,6463,842
Public sector--total
Outstanding debt at beginning of period48,25555,49760,21967,57862,84956,282
Net drawings1,6611,636-11-988-1,8244,397
Drawings 2/6,9917,1396,0667,4297,2769,071
Amortization 3/5,3305,5036,0778,4179,1004,674
Adjustment 4/5,5823,0867,370-3,741-4,743-2,678
Outstanding debt at end of period55,49760,21967,57862,84956,28258,001
Public sector debt service 3/8,3338,6209,49811,86712,1477,386
Amortization 3/5,3305,5036,0778,4179,1004,674
Interest3,0033,1173,4213,4503,0472,712
Source: Data provided by the Indonesian authorities.

Excludes loans of maturity up to of one year and transactions with to the IMF.

As recorded in debt records of Bank Indonesia. Excludes drawings made in connection with prepayments.

Includes prepayments.

Mainly reflects valuation adjustments owing to changes in exchange rates, and an adjustment for the estimated grant component of public sector drawings.

Source: Data provided by the Indonesian authorities.

Excludes loans of maturity up to of one year and transactions with to the IMF.

As recorded in debt records of Bank Indonesia. Excludes drawings made in connection with prepayments.

Includes prepayments.

Mainly reflects valuation adjustments owing to changes in exchange rates, and an adjustment for the estimated grant component of public sector drawings.

Table 51.Indonesia: Net Foreign Assets of the Banking System, 1992/93–1997/98(In millions of U.S. dollars)
1992/931993/941994/951995/961996/971997/98
Net international reserves of Bank Indonesia11,98112,70813,32415,97519,87313,544
Assets11,98112,70813,32415,97519,87316,544
Gold 1/9302,0091,0701,0701,070817
SDRs01111464
Fund position2722752912912910
Foreign exchange10,77910,42311,96214,61318,51115,263
Liabilities 2/000003,000
Other official assets (net) 3/6,3435,8783,8154,5796,7390
Commercial banks (net)2,582615555-7241,7215,851
Assets5,6684,5694,8715,7036,89710,469
Liabilities-3,086-3,954-4,316-6,427-5,1764,618
Banking system (net)20,90619,20117,69419,83028,33319,395
Assets23,99223,15522,01026,25733,50927,013
Liabilities3,0863,9544,3166,4275,1767,618
Memorandum items:
Gold (millions of fine troy ounces)3,1013,1013,1013,1013,101
Gross foreign assets
(In months of imports) 4/7.86.64.95.47.46.2
Swap liabilities6418980990205
Foreign currency deposits12,03913,04415,24315,512
Source: Data provided by the Indonesian authorities.

National valuation.

Includes use of Fund credit (under the compensatory financing facility).

Largely represents official assets held as a contingency reserve.

In months of the following year’s non-oil/gas imports.

Source: Data provided by the Indonesian authorities.

National valuation.

Includes use of Fund credit (under the compensatory financing facility).

Largely represents official assets held as a contingency reserve.

In months of the following year’s non-oil/gas imports.

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