President Susilo Bambang Yudhoyono was elected as Indonesia's sixth President in 2004. He was re-elected for another five-year term during the Presidential elections on 8 July and was sworn-in on 20 October 2009.
GDP growth picked up from 5.5% in 2006 to 6.3% in 2007 and 2008. GDP growth in the first half 2009 was 4.2% and the Central Bank's revised forecast for 2009 is 3%-4% (down from 4%-5%). This still represents the highest forecast in ASEAN. The government is expecting GDP growth of 5% in 2010.
Trade relations between the UK and Indonesia are healthy. UK exports to Indonesia totalled almost £ 391 million in 2008 (£ 289 million in 2007). Total exports for the first 7 months of 2009 were £ 181.6 million. According to official Indonesian Statistics, the UK is a leading investor in Indonesia with Foreign Direct Investment Planning Approvals worth US$ 119.9 million in January 2009.
Indonesia is one of UK Trade & Investment's seventeen High Growth Markets indicating the importance the UK Government attaches to this market.
What are the opportunities?
Opportunities for trade should be viewed as medium to long-term. UK Trade & Investment has identified four sectors that offer particularly good opportunities : Environment, Ports, Advanced Engineering and Power. Opportunities also exist in other sectors including Oil and Gas, Financial Services, ICT, Retail, Healthcare, Agribusiness and Infrastructure.
Imports to the UK from Indonesia were worth £ 1,144 million in 2008. Indonesia's main exports to the UK include textile products, clothing & accessories (including shoes) and wood products. Total imports for the first 7 months of 2009 were £ 698.6 million.
The information provided above is merely an overview; should you require further details you can obtain comprehensive international trade assistance from UK Trade and Investment (UKTI). To find out more information about this country, visit the UKTI Indonesia web page.
If you're interested in attending an event relating to this country or the possibility of joining a trade mission, please visit the UKTI East Midlands website. If you would like to speak to a UKTI International Trade expert about doing business with this country, please call the UKTI East Midlands office on 01332 826394.