Q:

What kind of economy does Indonesia have?

A:

Quick Answer

Indonesia has a mixed economy, characterized by a combination of large private conglomerates and state-owned enterprises. It is part of the CIVETS group of countries, along with Columbia, Vietnam, Egypt, Turkey and South Africa, which is expected to account for half of all economic activity by 2020.

Know More
What kind of economy does Indonesia have?
Credit: Martin Puddy Stone Getty Images

Full Answer

With a population of nearly one-quarter billion people, Indonesia has the largest economy in Southeast Asia and is a member of the G-20, a forum of the world's 20 largest economies. Its strengths are its plentiful and diverse natural resources, young and large population, relative political stability, sound fiscal management, proximity to the burgeoning economies of China and India, and low labor costs.

The industrial sector is the country's largest in terms of output, followed by the service and agricultural sectors. Since 2012, the service sector has been the country's largest employer, overtaking the agricultural sector, which had been the country's employment leader for centuries. Tourism is also a major industry, with Singapore, Malaysia, Australia, China and Japan providing the largest portion of visitors.

Indonesia's major export markets are Japan, Singapore, the United States and China. Its major exports include oil, natural gas, tin, copper, plywood, rubber and gold. It imports most from Singapore, Japan and China. Major imports are machinery, chemicals, fuels and foodstuffs.

Learn More

Related Questions

  • Q:

    Why do countries trade with each other?

    A:

    Because different nations have different natural resources and human capabilities, trade has become a popular method of allowing nations to get the products people need, such as when the United States exports goods like wheat and corn to Japan and imports goods like computers and cars from Japan. In this example, Japan and the U.S. engage in trade in order to sell the surplus of the things they make and gain access to the things they don't make, allowing for a balance of a wide range of goods rather than a surplus of just a few things.

      Full Answer >
    Filed Under:
  • Q:

    What is international finance?

    A:

    International finance, also known as international macroeconomics, refers to a branch of financial economics that deals with monetary systems and economics that surpass national borders. This field focuses on global capital markets through monitoring and examining trade practices across borders, global investment flows and movements in foreign exchange rates.

    Full Answer >
    Filed Under:
  • Q:

    How much was a gallon of gas in 1984?

    A:

    According to 1980s Flashback, 1984 saw a median gas price of $1.21 per gallon. At that time, stamps were 20 cents and a dozen eggs were $1.01.

    Full Answer >
    Filed Under:
  • Q:

    What countries have sweatshops?

    A:

    Any country with manufacturing facilities without enforceable labor laws has the potential to host a sweatshop. Sweatshops are factories where workers are routinely overworked, abused, underpaid or exploited. As of 2014, at least 18 countries are known to operate sweatshops, including Bangladesh, Romania, Costa Rica, El Salvador, China, the Dominican Republic, India, Vietnam, Honduras, Indonesia, Turkey, Brazil, Haiti, Taiwan, the Ivory Coast, Nicaragua, Mexico, the United States and its territories.

    Full Answer >
    Filed Under:

Explore