globalEDGE Blog - By Tag: Indonesia

Indonesia’s economy grew by 6.5% in 2011, marking the highest percentage in over a decade.  This GDP growth, however, is not unprecedented because in seven of the last eight years Indonesia’s GDP has grown by more than 5%.  In the last couple of years, corporations and investors have begun to compare Indonesia’s economic growth potential with the likes of India and China.  Strong growth and political stability are two of the main reasons why corporations and investors share this confidence.

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Sustainability is a huge topic in modern business, as corporations and environmental groups alike strive to create more sustainable methods of production.  For Indonesia, the world’s largest producer of palm oil, sustainability has been a sticking point.  In the last three decades, plantations have expanded by over 2000 percent, and the total land area currently devoted to palm oil production is an estimated 7 million hectares.  Some corporations around the world are realizing the negative environmental effects of palm oil production and are choosing to begin using only palm oil that is considered sustainable.

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The widely accepted “BRIC” designation for the world’s largest emerging economies may soon be in need of a revision.  In fact, some international business scholars have felt for many years that Jim O’Neill’s term for the developing nations of Brazil, Russia, India, and China should be updated to include at least one additional country.  Morgan Stanley publicly stated as early as two years ago that the commonly referenced acronym should be revised to “BRIIC” in order to include the rapidly growing economy of Indonesia. 

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With its close proximity to Canada and Mexico, most United States exporters export to only one market and unsurprisingly this market is usually Canada. However, many smaller companies that work with the U.S. Commercial Service have found other great markets filled many new customers. Some of the best markets with countless opportunities for U.S. companies are Vietnam, India, Indonesia, India, China, Taiwan and Thailand. You can learn more about these markets by watching these videos on India, Indonesia, and Vietnam posted on the Export.gov website. With these videos, you will learn about some of the many sectors in these markets where U.S. companies are competitive. In the videos, you will also be introduced to the top U.S. commercial diplomats in these markets who will help your company evaluate and enter exciting new markets.

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In 2001, global economist Jim O’Neill labeled Brazil, Russia, India, and China as the premier emerging markets of the world with enormous economic potential. The mainstream BRIC acronym was applied to these countries and the hype surrounding these countries was well deserved. Over the past decade, the countries have contributed to over a third of world GDP growth. Recently, Jim O’Neill named the next tier of large emerging economies using the term MIST – or Mexico, Indonesia, South Korea, and Turkey.

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Indonesia and Vietnam have decided to team up to boost their local tourism. The two countries already have put effort into increasing the trade between them.  Indonesian companies have invested in over 20 different projects in Vietnam. Now, they want to continue into the tourism industry.

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Until recently China was the world’s largest exporter of coal. While it is still the largest producer, a new exporter has come on to the map. Indonesia recently surpassed China in the market for exporting coal. Many Chinese power stations are even importing coal from Indonesia rather than obtaining it from within its own borders.

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