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Oil and Minerals Sector Indonesia, the only Asian member of the Organization of Petroleum Exporting Countries (OPEC), ranks 15th among world oil producers, with about 2.4% of world production. Crude and condensate output averaged 1.5 million barrels per day (b/d) in 1999. In the 1998 calendar year the oil and gas sector, including refining, contributed approximately 9% to GDP and, in FY 1999-00, provided 28% to domestic revenues. The sector's share of export earnings was 20% in 1999, a greater percentage than recent years due to high world oil prices. U.S. companies have invested heavily in the petroleum sector. With domestic demand for petroleum fuels expanding, Indonesia will become a net importer of oil by the next decade unless new reserves are found. In 1999, Indonesian imports of crude oil and petroleum products totaled $3.2 billion while Indonesian exports of crude oil and oil products totaled $10.7 billion. |
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Oil and Minerals Sector Indonesia, the only Asian member of the Organization of Petroleum Exporting Countries (OPEC), ranks 15th among world oil producers, with about 2.4% of world production. Crude and condensate output averaged 1.5 million barrels per day (b/d) in 1999. In the 1998 calendar year the oil and gas sector, including refining, contributed approximately 9% to GDP and, in FY 1999-00, provided 28% to domestic revenues. The sector's share of export earnings was 20% in 1999, a greater percentage than recent years due to high world oil prices. U.S. companies have invested heavily in the petroleum sector. With domestic demand for petroleum fuels expanding, Indonesia will become a net importer of oil by the next decade unless new reserves are found. In 1999, Indonesian imports of crude oil and petroleum products totaled $3.2 billion while Indonesian exports of crude oil and oil products totaled $10.7 billion. |
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Economic Relations with the United States U.S. exports to Indonesia in 1999 totaled $2.0 billion, down significantly from $4.5 billion in 1997. The main exports were construction equipment, machinery, aviation parts, chemicals, and agricultural products. U.S. imports from Indonesia in 1999 totaled $9.5 billion and consisted primarily of clothing, machinery and transportation equipment, petroleum, natural rubber, and footwear. Economic assistance to Indonesia is coordinated through the [Consultative Group on Indonesia]? (CGI), formed in 1989. It includes 19 donor countries and 13 international organizations that meet annually to coordinate donor assistance. The 2000 CGI meeting is to be held October 17-18 in Tokyo. The [U.S. Agency for International Development]? (USAID) has provided development assistance to Indonesia since 1950. Initial assistance focused on the most urgent needs of the new republic, including food aid, infrastructure rehabilitation, health care, and training. Through the 1970s, a time of great economic growth in Indonesia, USAID played a major role in helping the country achieve self-sufficiency in rice production and in reducing the birth rate. USAID's current program aims to support Indonesia as it recovers from the financial crisis by providing food aid, employment generating activities, and maintaining critical public health services. USAID is also providing technical advisers to help the Indonesian Government implement economic reforms and fiscal decentralization and is supporting democratization and civil society development activities through non-governmental organizations. |
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