Philippines-Indonesia trade and investment

Trade and investment between the Philippines and Indonesia continue to show positive gains as both countries recover from the regional economic crisis.

Two-way trade between the Philippines and Indonesia reached US$826 million in 1999 from $702.5 million in 1998, recording a growth rate of 18 percent during the last two years.

Last year, trade was in favor of Indonesia as the Philippines imported about $703 million worth of Indonesian products while Indonesia bought about $123 million worth of Philippine products. Copper concentrates, coal and urea composed the bulk of Philippine imports from Indonesia.

On the other hand, most Philippine exports to Indonesia were printed circuits, ammonium nitrate and electronic parts.

Figures from Indonesia's Central Bureau of Statistics show that the Philippines had invested a total $500 million in 22 various projects in Indonesia from 1967 to December 1999.

At present, there are 31 existing joint-venture companies between Philippine and Indonesian companies. These joint-venture companies are found in the following industries: food and beverages, pharmaceuticals, cosmetic products, shoes, electronics, feedmill, wood and furniture and management consulting services.