Indonesia’s export performance continued to weaken last month due to the declining price of coal and plunging crude palm oil (CPO) export volume, according to Statistics Indonesia (BPS) data.

The world's number three economy shrank by 0.5 percent between June and September compared to the second quarter, the preliminary data showed, worse than the consensus forecast of minus 0.1 percent.

Combined with data this month showing job and wage growth cooling in October, the data reinforced expectations the economy could avoid a dreaded recession.

The United States is considering Indonesia as a partner to create a global semiconductor value chain, according to a statement from the White House on Monday.

The ringgit has been hovering at 25-year lows in recent weeks, hitting almost 4.8 to the US dollar last month, the lowest since the 1998 Asian financial crisis.

Indonesia is heavily reliant on LPG. Statistics Indonesia (BPS) recorded in 2021 that about 82 percent of Indonesian households used LPG for cooking. 

The government has increased the targeted tax revenue of 2024 by 9.4 percent, totaling up to Rp 1,988.9 trillion. For context, the estimated realization of 2023 amounted to Rp 1,818.2 trillion.

A centerpiece of the Biden administration's efforts to deepen economic ties with Asian nations and counter China's rising dominance in the Pacific, the IPEF is a forum for multilateral talks aimed at forging agreements in a range of areas, including trade.

Bank Indonesia reported an annual budget surplus of Rp34.94 trillion as of Q3, with the governor anticipating a year-end surplus of Rp27.19 trillion.

Dubai stages its high-profile aerospace pageant this week against the backdrop of the Israel-Hamas war in Gaza that is pushing up demand for weapons while closing airspace and making flights longer and more expensive for some airlines.

Indonesia may need to import more rice in 2024 as national rice production is expected to drop because of El Niño.

Bapanas head Arief Prasetyo Adi cautioned that this delay could lead to a rise in rice prices as supplies would be strained in the first quarter of next year.

Moody's is the last of the three major rating agencies to maintain a top rating for the US government. Fitch changed its rating from triple-A to AA+ in August, joining S&P which has had an AA+ rating since 2011.

Even after the latest trade regulation, offline sellers are still up in arms over cheap imported goods, which still proliferate online marketplaces – as the Post found out when it purchased two pairs of sneakers for less than $4 each.

Indonesia has inked three different trade agreements meant to improve access to the Australian market, but the country’s exports to its southern neighbor have barely budged over the past years, the government said.

A nationwide survey by Bank Indonesia (BI) has found that the consumer confidence index (CCI) strengthened in October after dipping in the previous month.

The PKE UKM program is a form of the government's presence through the Ministry of Finance of the Republic of Indonesia, provided to LPEI as a form of support from the state budget for export-oriented business players.

Indonesia made a slight improvement in its competitiveness to attract and retain talent in the country’s economy this year, which marks a turnaround after two years of declining rankings.

Domestic tourists are expected to make less fewer trips to local destinations this year than the government had targeted, the Tourism and Creative Economy Ministry has announced.

Indonesia Motorsports Association (IMI) aims to secure Indonesia as one of the hosts for F1 in 2026.

Infrastructure development is an essential factor in accelerating economic growth, improving community welfare and ensuring the availability of public services, such as waste management. The expansion of infrastructure also fosters collaboration, as it requires support from both the government and private sector for the good of the people.

The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting there is a growing chance of a recession in the 20-country currency union.

In Indonesia, the labor force participation rate (TPAK) in August 2023 reached 69.48 percent, the highest since records began in 1986. 

The government is hoping to increase local liquefied petroleum gas (LPG) production, following a survey that found 12 oil and gas fields produced gas that could be processed into LPG.

According to data from the Finance Ministry, as of September, oil production stood at about 608,600 barrels per day (bpd). However, by the end of October, the energy ministry reported a decrease in production to 582,690 bpd. 

Indonesia’s annual economic growth rate has fallen below 5 percent for the first time since the coronavirus pandemic due to a slowdown in domestic spending and a reduced trade surplus.

Since the Indonesian Crude Price (ICP), an oil price benchmark used for budget calculations, is in US dollars, the cost of fuel imports is set to see a sharp spike. 

Indonesia’s financial sector is resilient enough not to buckle even under extreme scenarios for the global economy, according to the latest stress tests conducted jointly by Bank Indonesia (BI), the Finance Ministry, the Financial Services Authority (OJK) and the Deposit Insurance Corporation (LPS).

Japan has expressed the hope of expediting the development of the mass rapid transit (MRT) next year, according to the Office of the Coordinating Economic Minister.

Taxes play a vital role in the Indonesian national budget (APBN), contributing significantly to state revenues and supporting the development and welfare of the Indonesian population. In 2024, it is projected that tax revenue will reach approximately Rp 2309.9 trillion, representing an increase from the 2023 APBN target of Rp 2021.2 trillion.