Indonesia Economy

Working in Indonesia sounds like an adventure to many people. However, job search in Indonesia requires more than just the obvious Indonesia CV and Indonesia cover letter writing and translation, it requires thorough preparation. You will experience problems that probably did not even came to your mind when you decided to find jobs in Indonesia.

Do not take too lightly the influence an employment in Indonesia can have on the effect of your adventure! For instance, you will experience the different immigration rules and practices, strange job application procedures, unfamiliar job candidate selection criteria and unusual management culture.

art warning Indonesia economyWARNING: Indonesia treats drug offenses severely. The death penalty is mandatory for those convicted of trafficking, manufacturing, importing or exporting more than 15 g of heroin, 30 g of morphine, 30 g of cocaine, 500 g of cannabis, 200 g of cannabis resin and 1.2 kg of opium. Possession of these quantities is all that is needed for you to be convicted.

Most visits to Indonesia are trouble-free but you should be aware of the risk of indiscriminate terrorist attacks, which could be against civilian targets, including places frequented by expatriates and foreign travelers like restaurants, hotels, clubs and shopping areas. You should exercise a high degree of caution due to violence and deteriorating security situation.

High levels of criminal activity, as well as demonstrations, protests and occasional illegal roadblocks remain a concern throughout the country. In recent years, the Indonesian authorities have carried out a number of investigations and operations against drug related crimes and terrorist networks.

Monitor local news broadcasts and consular messages. Ensure that your travel documents and visas are current, valid and secured in a safe place. Carry a photocopy of your travel documents in lieu of the originals. Maintain a low profile, vary times and routes of travel, and exercise caution while driving. Making local contacts quickly and seeking support from other expatriates will greatly increase your comfort and safety.

Indonesia economy overview: Indonesia, the largest economy in Southeast Asia, has seen a slowdown in growth since 2012, mostly due to the end of the commodities export boom. During the global financial crisis, Indonesia outperformed its regional neighbors and joined China and India as the only G20 members posting growth. Indonesia’s annual budget deficit is capped at 3% of GDP and the Government of Indonesia lowered its debt-to-GDP ratio from a peak of 100% shortly after the Asian financial crisis in 1999 to less than 25% today. Fitch and Moody's upgraded Indonesia's credit rating to investment grade in December 2011.

Indonesia still struggles with poverty and unemployment, inadequate infrastructure, corruption, a complex regulatory environment, and unequal resource distribution among its regions. President Joko WIDODO - elected in July 2014 – seeks to develop Indonesia’s maritime resources and pursue other infrastructure development, including significantly increasing its electrical power generation capacity. Fuel subsidies were significantly reduced in early 2015, a move, which has helped the government, redirect its spending to development priorities. Indonesia, with the nine other ASEAN members, will continue to move towards participation in the ASEAN Economic Community, though full implementation of economic integration has not yet materialized.

Cost of Living: The cost of living for expatriates in Indonesia is cheap compared to Western countries.

Labor force - by occupation: agriculture: 38.9%, industry: 13.2%, services: 47.9% (2012 est.)

Unemployment rate: 5.5% (2015 est.), 5.9% (2014 est.)

Natural resources: petroleum, tin, natural gas, nickel, timber, bauxite, copper, fertile soils, coal, gold, silver

Industries: petroleum and natural gas, textiles, automotive, electrical appliances, apparel, footwear, mining, cement, medical instruments and appliances, handicrafts, chemical fertilizers, plywood, rubber, processed food, jewelry, and tourism

IndonesiaCurrency

Currency: The currency of Indonesia is Rupiah (IDR; symbol Rp).
Notes are in denominations of Rp100,000, 50,000, 20,000, 10,000, 5,000, 2,000 and 1,000.
Coins are in denominations of Rp1,000, 500, 200, 100 and 50.

Credit Cards: American Express, MasterCard, Visa, Diners Club and Eurocard are widely accepted in Jakarta and the main tourist areas. In more remote areas, it is best to carry cash in small denominations.

ATMs: ATMs are available in cities and larger towns and at airports. Be aware that many have a maximum withdrawal limit, which can be as high as Rp3,000,000 or as low as Rp400,000. This can be overcome by putting your card again but be careful as you may be charged a bank fee each time.

Traveler’s Checks: There is limited acceptance by merchants. On the other hand, they can be exchanged at banks and larger hotels. They are becoming less common and more difficult to exchange. To avoid additional exchange rate charges, travelers are advised to take traveler’s checks in US Dollars. American Express is the most widely accepted.

Exchange rates: Indonesian rupiah (IDR) per US dollar - 13,577.6 (2015 est.), 11,865.2 (2014 est.), 11,865.2 (2013 est.), 9,386.63 (2012 est.), 8,770.43 (2011 est.)

Inflation rate (consumer prices): 6.4% (2015 est.), 6.4% (2014 est.)

Other Indonesia Economy Info

We hope that your Indonesia job search has been successful and you have your Indonesia visa with Indonesia work permit too. So, if your Indonesia cover letter and Indonesia CV are ready, you may email them to your future employers and start preparing for a Indonesia job interview.

In addition, on the international info, job search, visa, work permit, cover letter, CV & resume, job interview and dress code pages you will find many useful tips for overseas job seekers.

Good luck with the Indonesia economy info.

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