The Economy of Indonesia
When all is said and done, while Indonesia is one of the most populated countries in the world (the fourth largest population on the planet with 222 million people as of 2006) it remains a country that is a mystery to some people in some places around the globe. Through this article, you are presented some basic information about the economy of Indonesia. This will help you gain a bit better understanding of the Republic of Indonesia and its place in the world.
In 2007, the Gross Domestic Product of Indonesia was $408 billion US. In Indonesia the services sector makes up the largest segment of the economy at over 45% of the GDP for the nation for the year. Industry makes up the next largest segment of the economy of Indonesia at almost 41% of the GDP. Agriculture makes up the third largest segment of the Indonesian economy at 14% of the GDP for 2007.
Despite the fact that agriculture makes up only 14% of the GDP, the largest segment of working people in Indonesia are employed in this area. Over 95 million people are employed in the agricultural industry in Indonesia. This accounts for over 44% of the men and women who are employed in the country today.
The services sector currently employs nearly 37% of the working population while the industrial sector employs at this time about 19% of the working population in Indonesia.
Major agricultural products that are produced in Indonesia include:
* palm oil
* rice
* coffee
* tea
* spices
* rubber
Major industries in Indonesia are:
* petroleum and natural gas
* textiles
* apparel
* mining
As of 2005, Indonesia's main export markets were as follows:
* Japan - 22.3%
* United States - 13.9%
* China - 9.1%
* Singapore - 8.9%
On the other hand, the major importers to Indonesia at this time are:
* Japan - 18%
* China - 16.1%
* Singapore - 12.8%
As of 2005 (the last year when comprehensive figures are available) Indonesia ran a trade surplus. Export revenues were $83.64 billion U.S. while the import expenditure for that same time period was $62.02 U.S.
The major exports from Indonesia at this juncture are:
* heavy machinery and equipment
* light machinery and equipment
* chemicals
* fuels of different types
* food products
The country is known for its very extensive natural resources. The natural resources that can be found in Indonesia today include:
* crude oil
* natural gas
* gold
* tin
* copper
The economy of Indonesia is strong. Most analysts and experts predict that this will remain the case in both the more immediate as well as the more distant future. With a diversified economy and with economic reforms having been put in place by the government, Indonesia seems poised to become an even more prosperous country.
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