Indonesia Foreign Exchange Reserve has increased

The Indonesian central bank (Bank Indonesia/BI) has announced that the country's foreign exchange reserves last October were US$97 billion, an increase of US$1.3 billion over September.

Indonesia's annual import bill is around $226.6 billion i.e. around $19 billion per month. Thus, the foreign exchange reserve is equal to around 5.2 months of imports. To compare with India, its foreign exchange reserve is around $280 billion and import value is around $580 billion per annum i.e. around 5.8 months of imports. Same numbers for Singapore is foreign exchange reserve of around $174 billion and imports of around $490 billion i.e. 4.3 months of imports.

FDIs in Indonesia are at highest ever recorded

Total investments jumped 23 percent year-on-year to top Rp 100.5 trillion (US$8.9 billion) in July-September, the highest ever recorded, despite the capital outflows and financial market turbulence that took place during that period.

The new BKPM chairman, who was just elected last month, targeted to realize Rp 450 trillion of investments next year, a 15 percent increase compared to this year.

Investments account for around 25 percent of Indonesia's gross domestic product (GDP), which is the second-biggest growth driver after household consumption.

(Source: Antara News)