Indonesia Economic Background and outlook

Since last ten years, Indonesia has had a high and stable growth rate of 9 percent which has placed it as the second-highest growth economy in the Asia Pacific region after China. Inflation rate is about 6.8 percent (2015 ). The population below the poverty line in Indonesia has fallen from 40 percent to 10.6 percent in the recent years.
Indonesia is a communist one-party state. The economy is predominantly dominated by State Owned Enterprises (SOEs) which contributes 40 percent of the GDP. The privatization of the business sector is slow however in recent years it has shown signs of improvement. Doing business in Indonesia is much easier nowadays compare to few years back. President Jokowi has made business establishment and easiness of doing business as his priority to boost Indonesia’s economy.

The labor force is growing by more than one million people the government and every year is working to create jobs to meet this challenge. The median age of the population is 29.2 years. 34.0 percent of the people are under the age of 14 years, the life expectancy is around 72.91 years, and the literacy rate is 93.4 percent.

Indonesian are humble, gentle, and friendly people. Young people are not eager to join a Political Party but now showing signs embrace towards it. People want their children to be educated and political savvy.

The labor force is growing by more than one million people the government and every year is working to create jobs to meet this challenge. The median age of the population is 29.2 years. 34.0 percent of the people are under the age of 14 years, the life expectancy is around 72.91 years, and the literacy rate is 93.4 percent. Since last ten years, Indonesia has had a high and stable growth rate of 9 percent which has placed it as the second-highest growth economy in the Asia Pacific region after China. The population below the poverty line in Indonesia has fallen from 40 percent to 10.6 percent in the recent years.

Click here if you want to have complete info about Indonesia market research.

Leave a Reply

Your email address will not be published. Required fields are marked *