Source: theconversation.com --- Tuesday, October 03, 2017
It is difficult to find two G20 neighbours which trade and invest in each other as little as Australia and Indonesia do. Shutterstock.com Indonesia is one of Australia’s closest neighbours. But surprisingly the two G20 countries trade and invest very little between each other. In fact, it is difficult to find two G20 neighbours that trade and invest in each other as little as Australia and Indonesia do. If you look at the numbers , Indonesia ranks as Australia’s 14th largest trade partner and Australia takes 10th place in Indonesia. The value of two-way trade stands at US$8.6 billion. Compare these numbers to a couple other G20 neighbours in the table below. Examples of bilateral trade among G20 economies. Source: World Bank World Integrated Trade Solution Analytical Data (2017) , Author provided The investment numbers are even more disappointing. The total Australian investment in Indonesia is less than 1% of Australia’s total outbound investment. These numbers certainly do not reflect Indonesia’s rising economic importance and that it is predicted to become the fourth largest economy by 2050. Even if this prediction, based on a forward-looking report by PwC turns out to be too optimistic, Indonesia’s demographic dividend will still propel Indonesia’s economic growth over the next 25 years. This narrative justifies a renewed effort on behalf of Australia to try and fix limping economic relations. More than Indonesia’s investmen ...
from Australia http://ift.tt/2kkei20
No comments:
Post a Comment