Indonesia Economy and Industry

[Indos]

Number of universities worldwide in 2023, by country​

Oct 26, 2023

India has the most universities worldwide. According to data from July 2023, there were an estimated 5,350 universities in India. Indonesia had the second most universities, counting 3,300, followed by the United States with 3,200 universities.

Number of universities worldwide by country 2023 | Statista

India has the most universities worldwide.

www.statista.com

 

[Indos]

Journey Home: The Eid Exodus Tradition and Its Economic Impact​

April 13, 2024 | 10:08 am

This aerial photo shows an influx of vehicles entering the Cikampek Toll Gate in Cikampek, West Java, Friday, April 5, 2024. The traffic heading to eastern provinces on Java island rose significantly ahead of Eid al-Fitr. (Antara Photo/Aprillio Akbar)


Jakarta. As the Eid al-Fitr holiday approaches, Indonesians across the archipelago are gearing up for the annual tradition of 'mudik'—returning to their hometowns. Ning, 31, is eagerly anticipating this year's Lebaran. She and her family plan to travel to their hometown in Mojokerto, East Java. The longing to reunite with family after nearly a year apart has motivated Ning to undertake the long journey via train to her hometown.

"I've secured train tickets a month ago. Together with my husband and two children, we purchased four tickets. It cost us around Rp 7 million ($434) for a round trip. It's alright, it's only once a year," Ning told Beritasatu.com last Friday.
However, Danang. 37, has encountered a different scenario. He plans to return to Klaten, Central Java, but due to ticket shortages, he and his family will travel by private car.

"I initially planned to travel by train or bus. However, tickets were sold out. So, we'll be using our private car to go back home," he explained.

Despite anticipating potential traffic jams, Danang remains enthusiastic about this year's 'mudik.' Especially since he and his family haven't returned home since 2019.

"It's been 5 years since our last 'mudik,' so it doesn't matter if it's congested. The important thing is to reunite with family in the village and arrive safely," said Danang, who works as a private sector employee.

According to a survey by the Ministry of Transportation (Kemenhub), the 2024 Eid al-Fitr period will witness approximately 193.6 million movements nationwide, indicating that about 71.7 percent of Indonesia's population will partake in the 'mudik' tradition.

Around 52 percent of the 'mudik' travelers cited celebrating Eid al-Fitr in their hometowns as the reason, while 35.2 percent mentioned visiting parents or relatives as their motive. Additionally, 10.6 percent intend to utilize the Eid holiday for leisure travel.

Transport analyst from the Indonesian Transportation Society (MTI), Djoko Setijowarno, views the Lebaran 'mudik' as Indonesia's largest migration phenomenon.

"Hundreds of millions of people, according to the latest survey by the Transportation Ministry, over 70 percent of Indonesia's population participate in 'mudik.' This has become an annual migration phenomenon for the community, as well as a test of the government's infrastructure readiness," Djoko explained.

Infrastructure Challenges and Government Preparations

The word 'mudik,' originating from the Javanese word "mulih dilik," meaning returning briefly, is deeply ingrained in Indonesian culture, particularly during Eid al-Fitr. Djoko emphasized that the challenges of 'mudik' are immense, as the infrastructure, such as toll roads, is primarily designed for normal daily conditions, not for the surge during 'mudik' periods.

Based on the Ministry's survey, the origin of 'mudik' travelers during Eid al-Fitr 2024 is predicted to be predominantly from Java Island (115.26 million travelers or 59.54 percent of total travelers). East Java contributes the highest number of 'mudik' travelers (31.3 million or 16.2 percent), followed by Greater Jakarta (28.43 million or 14.7 percent), and Central Java (26.11 million or 13.5 percent).

For transportation modes, intercity trains are the most utilized (39.32 million travelers), followed by buses (37.51 million), private cars (35.42 million), and motorcycles (31.12 million).

The significant number of land travelers poses a challenge for the government to prepare infrastructure adequately. Currently, there are 2,835 kilometers of operational toll roads, with 1,782 kilometers operating on Java Island and ready to accommodate 'mudik' traffic.

President Joko "Jokowi" Widodo has long instructed his administration to ensure smooth 'mudik' preparations. During a cabinet meeting on February 22, he emphasized the importance of checking transportation and infrastructure readiness for 'mudik.'

"Ensure the infrastructure and transportation readiness for 'mudik.' Every year, we always prepare for this annual event," said President Jokowi.

He has urged people to plan their 'mudik' trips early to avoid congestion during the peak period.

"Mudik this year is substantial. It's a 56 percent increase from last year. Around 190 million travelers are expected this year. Based on the survey. Therefore, I urge and invite the public to 'mudik' early," said President Jokowi on March 28.
Transportation Minister Budi Karya Sumadi stated that the government has made various preparations to ensure a smooth exodus and return flow. They have coordinated with stakeholders such as the police and state-owned enterprises to guarantee this year's exodus runs smoothly.

"We began this cautiously, conducting surveys for 2-3 weeks. Based on this survey, we can map the origins and destinations of travelers. For example, Jakarta is a phenomenon due to movements from the east and west. Meanwhile, Central Java is the highest destination," said Budi.

"After discussions with the President, we agreed to encourage people to start 'mudik' early, with the peak three to four days before Eid. Therefore, we recommend traveling five to 10 days earlier, as traffic flows more smoothly during that time. Additionally, there's a potential toll discount," he continued.

The upcoming Eid al-Fitr 'mudik' period is not just a cultural tradition but also a massive economic booster for Indonesia. As millions prepare to travel across the archipelago, the government's coordination and infrastructure readiness play a vital role in ensuring safe and smooth journeys for everyone involved.

Economic Boost Expected During Eid al-Fitr Holiday

The Tourism and Creative Economy Ministry projects that the economic turnover in the tourism and creative economy sectors during the Eid al-Fitr holiday in 2024 will reach Rp 276.11 trillion.

"This figure represents a significant increase of 15 percent compared to the potential economic turnover during Eid al-Fitr in 2023, which amounted to Rp 240.01 trillion," said Deputy for Strategic Policy at Kemenparekraf, Dessy Ruhati, recently.

Dessy explained that this economic turnover is influenced by the potential movement of people during the Eid holiday. Furthermore, she mentioned that the majority of domestic tourists will head to Java Island, with three main destinations being Central Java, East Java, and West Java.

The survey results from the ministry indicate that the preferred tourist destinations during the Eid al-Fitr season this year include beaches/lakes, culinary centers, mountains/agrotourism, recreational parks/zoos, and shopping centers.

Favorite tourist destinations during the Eid holiday this year include Malioboro and Parangtritis in Yogyakarta, Borobudur (Central Java), Bromo (East Java), Ciwidey, Pangandaran, and Lembang (West Java), as well as Puncak Bogor and Ragunan (Greater Jakarta).

On a separate occasion, the Special Staff to the Minister Coordinator for Economic Affairs, Ahmed Zaki Iskandar, mentioned that the money circulation during the Eid al-Fitr 'mudik' in 2024 is expected to reach Rp 384 trillion. This figure is obtained by assuming that 193 million people who will travel for 'mudik' will spend Rp 2 million each.
"The potential of reaching Rp 384 trillion will drive Indonesia's economy during the Eid al-Fitr 'mudik' in 2024," said Zaki on Sunday.

Zaki added that the main factors driving economic movement during the Eid holiday are the availability of public transportation and supporting infrastructure. The availability of buses, trains, and airplanes is crucial in facilitating people's movement.

"This encourages people to travel, not only for 'mudik' but also for vacations and visits to other areas. This will drive the food and beverage, hotel, and tourism sectors," he said.

The money circulation that occurs, according to him, will have a significant impact on the growth of the regional economy, especially for micro, small, and medium-sized enterprises (MSMEs). This is considered a crucial momentum in the recovery of the regional economy post-Covid-19 pandemic.

"The impact is significant, especially in the regions. This is an extremely important holiday. Hopefully, this money circulation will occur not only in Java Island but also throughout the islands in Indonesia," said Zaki.

Journey Home: The Eid Exodus Tradition and Its Economic Impact

The Tourism Ministry projects that the economic turnover during the Eid holiday will reach Rp 276.11 trillion

jakartaglobe.id

 

[Indos]

Returning holidaymakers cause traffic uptick on Java toll roads as ‘mudik’ season ends


​

Dio Suhenda (The Jakarta Post)Premium
Jakarta
Sun, April 14, 2024

Holidaymakers have begun to return home after a weeklong Idul Fitri holiday with their families and relatives in their hometowns.

According to data from the Transportation Ministry, some 303,000 cars carrying a total of 1.5 million people and 275,000 cars carrying a total of 1.3 million people entered the Greater Jakarta area through toll roads on Saturday and Friday, respectively.

Returning holidaymakers cause traffic uptick on Java toll roads as ‘mudik’ season ends - Archipelago - The Jakarta Post

Holidaymakers have begun to return home after a weeklong Idul Fitri holiday with their families and relatives in their hometowns.

www.thejakartapost.com

 

[Indos]

Asia GDP & GDP(PPP) 1980-2029 / IMF(April 2024 Data)​

 

[Indos]

Indonesia's Trade Balance Records $4.47 Billion Surplus in March 2024​

Arnoldus Kristianus
April 22, 2024 | 2:00 pm

This aerial photo shows activities at Tanjung Priok Container Port in North Jakarta, Tuesday, Feb. 6, 2024. (B-Universe Photo/Joanito De Saojoao)


Jakarta. Indonesia's trade balance recorded a surplus of $4.47 billion in March 2024, up from $3.64 billion in February 2024. This marked a significant increase from March 2023, which stood at $1.65 billion. This marks the 47th consecutive month of surplus.

In March 2024, exports reached $22.43 billion, marking a 16.4 percent increase from February 2024. However, this indicated a 4.19 percent contraction compared to March 2023. Meanwhile, imports in March 2024 totaled $17.96 billion, reflecting a 2.6 percent decrease from February 2024 and a 12.76 percent decrease from February 2023.

"The Indonesian trade balance has recorded a surplus for 47 consecutive months since May 2020. The surplus in March 2024 is higher than the surplus in the previous month or the same month last year," said Acting Head of the Central Statistics Agency (BPS), Amalia Adininggar Widyasanti, during a press conference at the BPS office in Jakarta on Monday.

Widyasanti explained that the trade surplus in March 2024 was supported by non-oil and gas commodities amounting to $6.51 billion, including mineral fuels, fats and vegetable oils, as well as iron and steel. The non-oil and gas trade surplus in March 2024 was larger than that of February 2024 and March 2023. "At the same time, the trade balance of oil and gas commodities showed a deficit of $2.04 billion, contributed by oil and crude oil," she added.

The three largest surplus-contributing countries were the United States with $1.5 billion, India with $1.43 billion, and the Philippines with $0.77 billion. Commodities contributing to the surplus with the United States included machinery and electrical equipment, non-knitted clothing and accessories, and footwear. Meanwhile, the three countries with the deepest deficits were Thailand with $0.38 billion, Brazil with $0.36 billion, and Australia with $0.27 billion. "Indonesia's deficit with Thailand is driven by several commodity groups, including cereals, sugar, molasses, and vehicles," said Amalia.

As for the cumulative trade balance until March 2024, it recorded a surplus of $7.31 billion, down by $4.80 billion compared to the same period last year.

Indonesia's Trade Balance Records $4.47 Billion Surplus in March 2024

Indonesia's trade balance recorded a surplus of $4.47 billion in March 2024, up from $3.64 billion in February 2024.

jakartaglobe.id

 

[Indos]

Alhamdulillah, smooth transition of power by peaceful, enjoyable, high participation, and vibrant democratic process.

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Indonesia court affirms Prabowo’s election victory, rejects appeals against result​

Updated

Apr 22, 2024, 11:22 PM



JAKARTA – Indonesia’s Constitutional Court on April 22 rejected appeals filed by lawyers representing both pairs of candidates who lost in the February presidential election and claimed it was marred by electoral fraud.

The formal count by the General Elections Commission announced on March 20 showed Defence Minister Prabowo Subianto and his running mate, Solo Mayor Gibran Rakabuming Raka, had won the election by a landslide.
They received 96,214,691 votes, representing 58.59 per cent of the total ballots cast in a three-way presidential election.

Former Jakarta governor Anies Baswedan and his running mate, veteran politician Muhaimin Iskandar, one of the two pairs of candidates who lost in the Feb 14 polls, wanted the voting to be conducted again and the court to disqualify Mr Prabowo and Mr Gibran, the elder son of incumbent President Joko Widodo.

“We reject the petition as a whole,” said Constitutional Court Chief Justice Suhartoyo, whose name has only one word, when reading the ruling on the appeal filed by the team of lawyers representing Mr Anies and Mr Muhaimin.

He added that there were dissenting opinions from three of the eight judges on the panel.

Lawyers representing the other losing pair – former Central Java governor Ganjar Pranowo and Professor Mahfud MD, former coordinating minister for political, legal and security affairs – had filed a separate appeal.

The Constitutional Court also rejected this appeal on April 22, noting that the two appeals are similar in substance.

Among other claims, the lawyers representing Mr Anies and Mr Muhaimin questioned the impartiality of the national election commission and other relevant authorities, and claimed the government’s massive social aid distributed to voters during the campaigning period benefited the candidate more closely associated with the incumbent president.

Mr Widodo did not officially endorse anyone in the race to succeed him, but his elder son’s decision to be Mr Prabowo’s running mate is widely seen as a presidential seal of approval for the pair.

The court, however, dismissed the claim that the social aid had any effect on the election results.

“The Constitutional Court is not convinced that there was a cause-and-effect relation between social aid distribution and the increase of any candidate’s votes,” said Constitutional Court Justice Daniel Yusmic Pancastaki Foekh, when taking his turn to read the ruling document.

Mr Anies and Mr Muhaimin’s lawyers also accused the incumbent government led by Mr Widodo of using his institutional privileges – including allegedly mobilising civil servants and security officers to be involved in discreet campaigning – to favour the Prabowo-Gibran ticket in the three-way race.

There were reported instances of Mr Ganjar’s supporters being restrained by security officers during rallies, and their posters being allegedly taken down by the officers.

Mr Anies also faced an unexpected regionwide power outage just as he was about to hold a rally in Madura, East Java.

The losing candidates also took issue with the validity of Mr Gibran’s candidacy, which was based on a controversial last-minute revision to the minimum age rule, paving the way for him to contest the election despite being under the qualifying age of 40. Mr Gibran turned 36 on Oct 1, 2023.

On Oct 16, 2023, the Constitutional Court, which was then led by Chief Justice Anwar Usman, who is Mr Widodo’s brother-in-law, ruled that the age limit does not apply to anyone who is an elected regional leader.

Indonesia court affirms Prabowo’s election victory, rejects appeals against result

But three of the eight judges on the panel had dissenting opinions. Read more at straitstimes.com.

www.straitstimes.com

 

[Indos]

Indonesia Working on Dollar Pressures: Finance Minister​

 

[Indos]

Apple's Tim Cook: Indonesia Is a Great Place to Invest​

 

[Indos]

Microsoft plans to invest US$1.7b in Indonesia​

Microsoft to invest $1.7 billion in AI and cloud infrastructure in Indonesia​

LIVE: Microsoft CEO Satya Nadella Talks About AI in Jakarta | "Microsoft Build: AI Day" | IN18L​

 

[Indos]

Just let any one wanting to change citizenship to leave. No need dual citizenship. Good riddance...

 

[Indos]

VW will open factory in Indonesia for electric car
VW also has made cooperation with Vale Indonesia (majority stakes is owned by Indonesian state owned mining holding) to produce precursor for EV battery.

 

[Indos]

GoTo to divest Tokopedia’s logistics unit in Q2 2024​

Jofie Yordan · 30 Apr 2024

GoTo Group has announced that it will deconsolidate its logistics unit associated with Tokopedia in the second quarter of this year. This comes after the Indonesian tech giant completed the ecommerce partnership of TikTok Shop and Tokopedia on January 31.

“We have entered into a conditional sale and purchase agreement to divest ownership of the delivery and fulfillment businesses and the GoTo Logistics that support Tokopedia,” said GoTo CFO Jacky Lo during the company’s Q1 2024 earnings call.

“Upon closing of these transactions, GoTo Logistics will be deconsolidated from the group,” he added.

Following the divestment, the logistics unit will return under Tokopedia. GoTo previously acquired 99.8% shares of Swift Logistics Solutions, Tokopedia’s logistics unit, in January 2023.

Meanwhile, GoTo made sure its B2B delivery business will stay with the group, as well as its on-demand delivery unit GoSend. Therefore, the group has stopped reporting financials from GoTo Logistics as a segment starting from Q1 2024.

This decision marks GoTo’s latest divestiture of a business unit. In August 2023, the company sold its entertainment business GoPlay and Loket – the ticketing platform that operates the group’s GoTix offering – to former executives.

For Q1 2024, GoTo recorded an 89% year-on-year improvement in adjusted EBITDA with an adjusted loss of US$6.2 million. It said it remains on track to hit adjusted EBITDA profitability for the full year of 2024.

Tech in Asia - Connecting Asia's startup ecosystem

www.techinasia.com

 

[Indos]

Indonesia's Economy Grows by 5.11 Percent in Q1 2024, Slightly Lower than Projections

Indonesia's economic growth in the first quarter of 2024 reached 5.11 percent you, slightly below the Finance Ministry projection

jakartaglobe.id

Indonesian Stock Market Hits Rp 12 Trillion Mark Amid Stable Inflation

The Indonesian stock market hit a record high of Rp 12 trillion ($740.6 billion) this week.

jakartaglobe.id

Q1 Growth Exceeds 5% Despite Effects of Dollar Appreciation: Minister

Despite a 5.02 percent depreciation of the rupiah against the dollar year-to-date, Indonesia maintained robust foreign exchange reserves.

jakartaglobe.id

Indonesia's Inflation Stays in Check, Thanks to Consistent Monetary Policy: BI

Inflation for April 2024 reached 0.25 percent on a monthly basis. Meanwhile, the year-on-year inflation rate stood at 3 percent

jakartaglobe.id

 

[Indos]

38 OECD members supported Indonesia OECD membership

 

[Indos]

In Conversation with Sri Mulyani​