indonesia business landscape
Overview
Situated between the Indian and Pacific oceans, it is the world's largest island country, with more than 17,000 islands, contributing to its abundant natural resources and major transport links. At 1,904,569 square kilometres (735,358 square miles), Indonesia is the world's 14th-largest country in terms of land area and world's 7th-largest country in terms of combined sea and land area.
Indonesia is the fourth most populous country in the world with a huge population of over 270,2 million. The large population means a large market available to invest on by foreign companies in Indonesia.
Economy
Indonesia has made enormous gains in poverty reduction, cutting the poverty rate by more than half since 1999, to 9.78% in 2020. Prior to the COVID-19 crisis, Indonesia was able to maintain a consistent economic growth, recently qualifying the country to reach the upper middle income status.
Indonesia’s economic planning follows a 20-year development plan, spanning from 2005 to 2025. It is segmented into 5-year medium-term plans, called the RPJMN (Rencana Pembangunan Jangka Menengah Nasional) each with different development priorities. The current medium-term development plan – the last phase of the long-term plan – runs from 2020 to 2024. It aims to further strengthen Indonesia’s economy by improving the country’s human capital and competitiveness in the global market.
Climate
The climate of Indonesia is tropical. Temperatures on land remain fairly constant, with the coastal plains averaging 28 °C, the inland and mountain areas averaging 26 °C, and the higher mountain regions, 23 °C. Indonesia experiences relatively little change in the length of daylight hours from one season to the next.
Indonesia has two seasons of Rainy and Dry, both of which are relative. While there is significant regional variation, the dry season is April to October, while the wet season is November to March.
Timezone
Western Indonesia Time
Waktu Indonesia Barat
UTC+07:00
Central Indonesia Time
Waktu Indonesia Tengah
UTC+08:00
Eastern Indonesia Time
Waktu Indonesia Timur
UTC+09:00