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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Indonesia is the largest market for both two-wheel and four-wheel vehicles in the ASEAN region and ranks as the second largest motor vehicle producer in the bloc. The automotive sector plays a vital role in the country's economic growth and has been ...
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Indonesia is one of the ASEAN countries with the fastest-growing pharmaceuticals and healthcare sector. The Indonesian implemented a comprehensive public health insurance programme in 2014 to ensure that all Indonesians have access to healthcare. The ...
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Indonesia's abundant mineral resources have positioned the country as a key global player. It is the world's leading producer of thermal coal and the second largest exporter of tin. The country is also a major source of critical minerals such as ...
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Indonesia's banking sector continued to expand at a rapid pace in 2023, supported by strong economic growth. Lending activity remained robust for a second year in a row, rising in double-digits on the back of strong demand from both the corporate and ...
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The electric power sector is a crucial driver of economic development and employment growth in 'energy-demanding' Indonesia, employing around 320,000 people as of 2023. The country's power generation mix is heavily dominated by coal, which accounts ...
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Agriculture is one of the backbones of Indonesia's economy, contributing approximately 12% to the country's gross domestic product (GDP). The sector provided income for 39.5mn people, or the equivalent of 28% of the total workforce in 2023. ...
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The ASEAN region has a significant influence on the global electronics market. Thailand, Indonesia, and Malaysia are the primary suppliers of hard disc drives (HDDs), essential components for computer data storage. Approximately 60% of China's HDD ...
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Four-wheel motor vehicle production in ASEAN (particularly Thailand, Indonesia, Malaysia, the Philippines, Vietnam and Myanmar) dropped by 31.6% y/y in 2020 due to the negative effects of the COVID-19 pandemic. However, output saw a strong rebound in ...
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The countries of the Association of Southeast Asian Nations (ASEAN) are a vastly diverse and uneven landscape in terms of infrastructure development. For instance, Singapore is a perennial global leader in infrastructure quality whereas other ...
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