Indonesia’s Economy: Short Update

by Guinandra Jatikusumo

Indonesia’s economy is growing at a rapid rate, as predicted by IMF’s, World Bank’s, and McKinsey’s reports. Last year it expanded by 6.23%. Unlike other economies in South East Asia, Indonesia’s economy is not export-driven; exports only account for approximately a quarter of the country’s total income. The growth was mainly attributable to strong and robust domestic consumption.