What kind of economy is Indonesia?

What type of economy does Indonesia have?

Indonesia has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation. Indonesia is a member of the Asia-Pacific Economic Cooperation (APEC) and the Association of Southeast Asian Nations (ASEAN).

Is Indonesia a mixed economy?

Indonesia has a mixed economy in which both the private sector and government play significant roles. The country is the largest economy in Southeast Asia and a member of the G-20 major economies.

Is Indonesia a free market?

But despite this, the prevailing free market conditions, absence of price control and any real attempt to protect domestic industry continued to attract considerable foreign investment into Indonesia. …

Is Indonesia a 3rd world country?

Indonesia in the 21st century is no longer categorized as a “Third World” country, but is now an oasis of political stability and rapid economic growth. In the past, Indonesia may have been seen as an authoritarian state, but now it is recognized as the third-largest democracy in the world.

Does Indonesia have a good economy?

Today, Indonesia is the world’s fourth most populous nation, the world’s 10th largest economy in terms of purchasing power parity, and a member of the G-20. Furthermore, Indonesia has made enormous gains in poverty reduction, cutting the poverty rate by more than half since 1999, to 9.78% in 2020.

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Will Indonesia become a superpower?

Indonesia is far from gaining superpower status, if ever, so clearly there is a huge gap between the aspirations of a large majority of its people and the current reality of the nation’s true strengths. If a superpower status is defined chiefly by its economic power and military might, Indonesia has neither.

How does Indonesia make money?

The country is a major exporter of crude petroleum and natural gas. In addition, Indonesia is one of the world’s main suppliers of rubber, coffee, cocoa, and palm oil; it also produces a wide range of other commodities, such as sugar, tea, tobacco, copra, and spices (e.g., cloves).

Inside view of Asia