Economics Assignment Indonesia
INTRODUCTION
Indonesia plays major role in today’s economic as Indonesia is one of the countries with the biggest GDP with the 4th largest population in the world. Joining the member of G-20 major economies, Indonesia has successfully emerges as the largest economy in Southeast Asia, moreover, Indonesia also classified as a new industrialized country. Government plays substantial role through ownership of 141 state industries and enterprises, and administration of prices of basic goods such as rice, fuel, and electricity. Main goods to export from Indonesia are oil & gases, rubber, cement, plywood and food. In addition, Indonesia main export partners are Japan, China, and Singapore.
PRODUCTION OUTPUT PERFORMANCE ANALYSIS
Gross Domestic Product (GDP)
Gross domestic product is the market value of the final goods and services produced within a country in a given time of period (Parkin, 2010). Indonesia GDP itself shows tremendous changes over 10 years. Starting with 234.77 billion USD in 2004, President Yudhoyono gave exceptional performance in Indonesia GDP with 4 times increases during 10 years with 878.04 billion USD in 2013.
Indonesia transformed from being an agricultural country into a more industrial country lately, implies that Indonesia lessened dependency on exports. Composition of Indonesia’s GDP is mainly played by agriculture, services, and industry. Further, the western part of Indonesia have historically became the center of economic activity in Southeast Asia, resulting in their contribution to more than 80% of Indonesia’s total GDP.
GDP Growth Rate Economic growth is supported by 4 wheels, such as: human resources, natural resources, capital formation, and technology & entrepreneurship (Samuelson & Nordhaus, 2005).
Source: World Bank During 10 years (2004-2013), the economic growth of Indonesia is not steady. The fall of the American financial market from the Lehman Brothers led to the lower growth rate for Indonesia economy in 2008. Despite
Indonesia plays major role in today’s economic as Indonesia is one of the countries with the biggest GDP with the 4th largest population in the world. Joining the member of G-20 major economies, Indonesia has successfully emerges as the largest economy in Southeast Asia, moreover, Indonesia also classified as a new industrialized country. Government plays substantial role through ownership of 141 state industries and enterprises, and administration of prices of basic goods such as rice, fuel, and electricity. Main goods to export from Indonesia are oil & gases, rubber, cement, plywood and food. In addition, Indonesia main export partners are Japan, China, and Singapore.
PRODUCTION OUTPUT PERFORMANCE ANALYSIS
Gross Domestic Product (GDP)
Gross domestic product is the market value of the final goods and services produced within a country in a given time of period (Parkin, 2010). Indonesia GDP itself shows tremendous changes over 10 years. Starting with 234.77 billion USD in 2004, President Yudhoyono gave exceptional performance in Indonesia GDP with 4 times increases during 10 years with 878.04 billion USD in 2013.
Indonesia transformed from being an agricultural country into a more industrial country lately, implies that Indonesia lessened dependency on exports. Composition of Indonesia’s GDP is mainly played by agriculture, services, and industry. Further, the western part of Indonesia have historically became the center of economic activity in Southeast Asia, resulting in their contribution to more than 80% of Indonesia’s total GDP.
GDP Growth Rate Economic growth is supported by 4 wheels, such as: human resources, natural resources, capital formation, and technology & entrepreneurship (Samuelson & Nordhaus, 2005).
Source: World Bank During 10 years (2004-2013), the economic growth of Indonesia is not steady. The fall of the American financial market from the Lehman Brothers led to the lower growth rate for Indonesia economy in 2008. Despite