Philippines-Indonesia trade and investment

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.