Year 2010 is about to come to an end. For Indonesia, this year has been really a good year, making it the new milestone for Indonesia’s emergence in economic sector, diplomacy, and global role. GNFI is proud to make this list of Indonesia’s economic achievement in 2010:
In January, Fitch Ratings upgraded Indonesia’s long-term foreign and local-currency credit ratings to the highest level since the Asian financial crisis, citing the economy’s resilience to the global crisis and better finances. In March, Indonesia’s sovereign debt rating was raised to the highest level in 12 years by Standard & Poor’s after the central bank increased the country’s economic growth forecasts. In June, Indonesia’s credit rating outlook was raised to positive by Moody’s Investors Service, highlighting the strength of Asia’s emerging economies amid soaring debt burdens in developed nations from Greece to Japan. In July, Japan Credit Rating Agency (JCR) raised Indonesia’s sovereign debt rating to investment grade in a move that could be followed by major rating agencies, reflecting growing confidence in the management of Southeast Asia’s largest economy.
- In mid of 2010, Indonesia also saw its GDP (by Purchase Power Parity) reached $1 trillion.
- In August, Asian Dev elopement Bank (ADB) reported that Indonesia’s middle class group had soared to nearly 50 % of the population, a 100% rise from a decade ago.
- In September, Indonesia’s Foreign Direct Investment (FDI) booked $ 15 billion, set to reach $20 billion by end of December, the highest FDI flowing to Indonesia.
In September 2010, Indonesia ranked 44 out of 139 countries in the World Economic Forum’s 2010-11 Global Competitiveness Index, a jump of 10 spots over last year’s position.
Still in September 2010, Indonesia has been identified as one of the top markets for global investors, according to research published by UK Trade & Investment. The report is based on a survey of more than 520 global executives from every sector. The research also identified that Indonesia is world’s most promising country in term of long term economic growth.
In October, Indonesia booked a new record of export at $14.22 billion, the biggest in Indonesia history. China, US, and EU are the Top 3 Destinations for Indonesian products. In 2010, total export is expected to reach $ 150 billion, a highest in Indonesia history.
- In November, Indonesia’s Forex Reserve booked a record high at $93 billion, highest in Indonesia history. It is believed that it will reach $100 billion by end of December.
In December, United Nations Development Program (UNDP) released a report stating that Indonesia’s life expectancy rose by 17 years, from 54 to 71, between 1980 and 2010. That was dramatically better than the average for East Asia and Pacific countries, which saw a 14-year rise from 59 to 73 over the 40 years from 1970 to today.
In December, Jakarta Composite Index (IHSG) booked a new highest record at 3.786,1. Indonesia Stock Exchange was regarded as The Best Stock Exchange in Asia, as it increased 43.4 % from January – October 2010. Indonesia has as well better position on Return on Equity compared to other ROE countries in the region which provides a competitive advantage for the development of domestic stock exchanges. Various important indicators such as the stable foreign exchange rates and improved economic growth help investors to put in more to the stock exchange
Indonesia`s economy has been on the 16th place in global economic ranking, above the previous projections. In 3-4 years to come, Indonesia’s economy will reach above $ 1 trillion, and set to climb to higher position.
In a report published by Stardard Chartered Bank tittled “Global Focus 2011 – The Year Ahead”, Indonesia will trail behind China and India to lead world’s economic recovery in 2010.
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Posted on December 21st, 2010 at 10:04 am by Akhyari