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class="vector-toc-numb">3.1</span> <span>Sukarno presidency</span> </div> </a> <ul id="toc-Sukarno_presidency-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Suharto_presidency" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Suharto_presidency"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2</span> <span>Suharto presidency</span> </div> </a> <ul id="toc-Suharto_presidency-sublist" class="vector-toc-list"> <li id="toc-1997_Asian_financial_crisis" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#1997_Asian_financial_crisis"> <div class="vector-toc-text"> <span class="vector-toc-numb">3.2.1</span> <span>1997 Asian financial crisis</span> </div> </a> <ul id="toc-1997_Asian_financial_crisis-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Post-Suharto_era" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Post-Suharto_era"> <div 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.sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile plainlist"><tbody><tr><th class="sidebar-title"><div class="sidebar-pretitle" style="margin: -0.2em 0; font-size:69%; font-weight:normal;">Part of <a href="/wiki/Category:History_of_Indonesia" title="Category:History of Indonesia">a series</a> on the</div></th> </tr><tr> <th class="sidebar-title-with-pretitle" style=""><a href="/wiki/History_of_Indonesia" title="History of Indonesia">History of <span class="fn org label">Indonesia</span></a></th> </tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Nicolaes_Visscher_Indiae_Orientalis.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Nicolaes_Visscher_Indiae_Orientalis.jpg/220px-Nicolaes_Visscher_Indiae_Orientalis.jpg" decoding="async" width="220" height="183" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/66/Nicolaes_Visscher_Indiae_Orientalis.jpg/330px-Nicolaes_Visscher_Indiae_Orientalis.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/66/Nicolaes_Visscher_Indiae_Orientalis.jpg/440px-Nicolaes_Visscher_Indiae_Orientalis.jpg 2x" data-file-width="2493" data-file-height="2077" /></a></span></td></tr><tr><td class="sidebar-above" style="border:none;"> <a href="/wiki/Timeline_of_Indonesian_history" title="Timeline of Indonesian history">Timeline</a></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/Prehistoric_Indonesia" title="Prehistoric Indonesia">Prehistory</a></div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <b><a href="/wiki/Paleolithic" title="Paleolithic">Paleolithic</a></b></td><td style="text-align:right;"></td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Java_Man" title="Java Man">Java Man</a></td><td style="text-align:right;"> 1,000,000 BP</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Homo_floresiensis" title="Homo floresiensis">Flores Man</a></td><td style="text-align:right;"> 94,000–12,000 BP</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <b><a href="/wiki/Neolithic" title="Neolithic">Neolithic</a></b></td><td style="text-align:right;"></td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Toba_catastrophe_theory" class="mw-redirect" title="Toba catastrophe theory">Toba catastrophe</a></td><td style="text-align:right;"> 75,000 BP</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Buni_culture" title="Buni culture">Buni culture</a></td><td style="text-align:right;"> 400 BCE</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/List_of_Indonesian_monarchies" title="List of Indonesian monarchies">Hindu and Buddhist kingdoms</a></div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kutai" title="Kutai">Kutai kingdom</a></td><td style="text-align:right;"> 350–1605</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Tarumanagara" title="Tarumanagara">Tarumanagara kingdom</a></td><td style="text-align:right;"> 400s–500s</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kantoli" title="Kantoli">Kantoli</a></td><td style="text-align:right;"> 400s-500s</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kalingga_kingdom" class="mw-redirect" title="Kalingga kingdom">Kalingga kingdom</a></td><td style="text-align:right;"> 500s–600s</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Melayu_kingdom" class="mw-redirect" title="Melayu kingdom">Melayu kingdom</a></td><td style="text-align:right;"> 600s–1347</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Srivijaya" title="Srivijaya">Srivijaya Empire</a></td><td style="text-align:right;"> 600s–1025</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Shailendra_dynasty" title="Shailendra dynasty">Shailendra Dynasty</a></td><td style="text-align:right;"> 600s–900s</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Mataram_kingdom" title="Mataram kingdom">Mataram kingdom</a></td><td style="text-align:right;"> 716–1016</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Bali_kingdom" class="mw-redirect" title="Bali kingdom">Bali kingdom</a></td><td style="text-align:right;"> 914–1908</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sunda_kingdom" class="mw-redirect" title="Sunda kingdom">Sunda kingdom</a></td><td style="text-align:right;"> 932–1579</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kahuripan" title="Kahuripan">Kahuripan kingdom</a></td><td style="text-align:right;"> 1019–1045</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kediri_kingdom" title="Kediri kingdom">Kediri kingdom</a></td><td style="text-align:right;"> 1045–1221</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Dharmasraya" title="Dharmasraya">Dharmasraya kingdom</a></td><td style="text-align:right;"> 1183–1347</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Pannai" title="Pannai">Pannai kingdom</a></td><td style="text-align:right;"> 1000s–1300s</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Singhasari" title="Singhasari">Singhasari Empire</a></td><td style="text-align:right;"> 1222–1292</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Majapahit" title="Majapahit">Majapahit Empire</a></td><td style="text-align:right;"> 1293–1527</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/List_of_Indonesian_monarchies" title="List of Indonesian monarchies">Islamic sultanates</a></div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Spread_of_Islam_in_Indonesia" title="Spread of Islam in Indonesia">Spread of Islam</a></td><td style="text-align:right;"> 800–1600</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Peureulak_Sultanate" title="Peureulak Sultanate">Peureulak Sultanate</a></td><td style="text-align:right;">840–1292</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Aru_kingdom" title="Aru kingdom">Aru kingdom</a></td><td style="text-align:right;"> 1225–1613</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Ternate_Sultanate" class="mw-redirect" title="Ternate Sultanate">Ternate Sultanate</a></td><td style="text-align:right;"> 1257–1914</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Samudera_Pasai_Sultanate" title="Samudera Pasai Sultanate">Samudera Pasai Sultanate</a></td><td style="text-align:right;"> 1267–1521</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Pagaruyung_kingdom" title="Pagaruyung kingdom">Pagaruyung kingdom</a></td><td style="text-align:right;"> 1347–1833</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Bruneian_Empire" class="mw-redirect" title="Bruneian Empire">Brunei Sultanate</a></td><td style="text-align:right;"> 1368–1888</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Malacca_Sultanate" title="Malacca Sultanate">Malacca Sultanate</a></td><td style="text-align:right;"> 1400–1511</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Sulu" title="Sultanate of Sulu">Sulu Sultanate</a></td><td style="text-align:right;"> 1405–1851</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Cirebon" title="Sultanate of Cirebon">Cirebon Sultanate</a></td><td style="text-align:right;"> 1445–1677</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Demak_Sultanate" title="Demak Sultanate">Demak Sultanate</a></td><td style="text-align:right;"> 1475–1554</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Aceh_Sultanate" title="Aceh Sultanate">Aceh Sultanate</a></td><td style="text-align:right;"> 1496–1903</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Ternate" title="Sultanate of Ternate">Sultanate of Ternate</a></td><td style="text-align:right;"> 1486–1914</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Bacan" title="Sultanate of Bacan">Sultanate of Bacan</a></td><td style="text-align:right;"> 1515–1946</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Tidore" title="Sultanate of Tidore">Sultanate of Tidore</a></td><td style="text-align:right;"> 1500s–1967</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Sultanate_of_Jailolo" title="Sultanate of Jailolo">Sultanate of Jailolo</a></td><td style="text-align:right;"> 1496–1903</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Banten_Sultanate" title="Banten Sultanate">Banten Sultanate</a></td><td style="text-align:right;"> 1526–present</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Banjar_Sultanate" class="mw-redirect" title="Banjar Sultanate">Banjar Sultanate</a></td><td style="text-align:right;"> 1526–1863</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kalinyamat_Sultanate" title="Kalinyamat Sultanate">Kalinyamat Sultanate</a></td><td style="text-align:right;"> 1527–1599</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Mataram_Sultanate" title="Mataram Sultanate">Mataram Sultanate</a></td><td style="text-align:right;"> 1586–1755</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Johor_Sultanate" title="Johor Sultanate">Johor Sultanate</a></td><td style="text-align:right;"> 1528s–1877</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kingdom_of_Kaimana" title="Kingdom of Kaimana">Kingdom of Kaimana</a></td><td style="text-align:right;"> 1600s–1926</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Jambi_Sultanate" title="Jambi Sultanate">Jambi Sultanate</a></td><td style="text-align:right;"> 1604s–1904</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Palembang_Sultanate" title="Palembang Sultanate">Palembang Sultanate</a></td><td style="text-align:right;"> 1659–1823</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Siak_Sultanate" class="mw-redirect" title="Siak Sultanate">Siak Sultanate</a></td><td style="text-align:right;"> 1725–1946</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Surakarta_Sunanate" title="Surakarta Sunanate">Surakarta Sunanate</a></td><td style="text-align:right;"> 1745–present</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Yogyakarta_Sultanate" title="Yogyakarta Sultanate">Yogyakarta Sultanate</a></td><td style="text-align:right;"> 1755–present</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Deli_Sultanate" class="mw-redirect" title="Deli Sultanate">Deli Sultanate</a></td><td style="text-align:right;"> 1814–1946</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Riau-Lingga_Sultanate" title="Riau-Lingga Sultanate">Riau-Lingga Sultanate</a></td><td style="text-align:right;"> 1824–1911</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/List_of_Indonesian_monarchies" title="List of Indonesian monarchies">Christian kingdoms</a></div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kingdom_of_Larantuka" title="Kingdom of Larantuka">Larantuka kingdom</a></td><td style="text-align:right;"> 1515–1904</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Kingdom_of_Bolaang_Mongondow" title="Kingdom of Bolaang Mongondow">Kingdom of Bolaang Mongondow</a></td><td style="text-align:right;">1670–1950</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/Kongsi_republic" class="mw-redirect" title="Kongsi republic">Chinese Kongsi federations</a></div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Heshun_Confederation" class="mw-redirect" title="Heshun Confederation">Heshun Confederation</a></td><td style="text-align:right;">1776–1854</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Lanfang_Republic" title="Lanfang Republic">Lanfang Republic</a></td><td style="text-align:right;">1777–1884</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Santiaogou_Republic" title="Santiaogou Republic">Santiaogou Republic</a></td><td style="text-align:right;">1777–1853</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)">European colonization</div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Portuguese_Empire_in_the_Indonesian_Archipelago" title="Portuguese Empire in the Indonesian Archipelago">Portuguese</a></td><td style="text-align:right;"> 1512–1850</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Spanish_East_Indies" title="Spanish East Indies">Spanish</a></td><td style="text-align:right;"> 1521–1677</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Dutch_East_India_Company_in_the_Malay_Archipelago" class="mw-redirect" title="Dutch East India Company in the Malay Archipelago">Dutch East India Company</a></td><td style="text-align:right;"> 1602–1799</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/British_Bencoolen" title="British Bencoolen">British</a></td><td style="text-align:right;"> 1685–1824</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/French_and_British_interregnum_in_the_Dutch_East_Indies" title="French and British interregnum in the Dutch East Indies">French and British interregnum</a></td><td style="text-align:right;"> 1806–1816</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Dutch_East_Indies" title="Dutch East Indies">Dutch East Indies</a></td><td style="text-align:right;"> <div style="display: inline-block; line-height: 1.2em; padding: .1em 0; line-height:1.3em">1800–1942<br />1945–1949</div></td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)">Emergence of Indonesia</div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Indonesian_National_Awakening" title="Indonesian National Awakening">National Awakening</a></td><td style="text-align:right;"> 1908–1942</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Japanese_occupation_of_the_Dutch_East_Indies" title="Japanese occupation of the Dutch East Indies">Japanese occupation</a></td><td style="text-align:right;"> 1942–1945</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Indonesian_National_Revolution" title="Indonesian National Revolution">National Revolution</a></td><td style="text-align:right;"> 1945–1949</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/United_States_of_Indonesia" title="United States of Indonesia">United States of Indonesia</a></td><td style="text-align:right;"> 1949–1950</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)">Republic of Indonesia</div><div class="sidebar-list-content mw-collapsible-content"><table style="width:100%;border-collapse:collapse;border-spacing:0px 0px;border:none"><tbody><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Liberal_democracy_period_in_Indonesia" title="Liberal democracy period in Indonesia">Liberal democracy</a></td><td style="text-align:right;"> 1950–1959</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Guided_Democracy_in_Indonesia" title="Guided Democracy in Indonesia">Guided Democracy</a></td><td style="text-align:right;"> 1959–1966</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Transition_to_the_New_Order" title="Transition to the New Order">Transition</a></td><td style="text-align:right;"> 1966–1967</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/New_Order_(Indonesia)" title="New Order (Indonesia)">New Order</a></td><td style="text-align:right;"> 1967–1998</td></tr><tr style="vertical-align:top"><td style="text-align:left;"> <a href="/wiki/Post-Suharto_era_in_Indonesia" title="Post-Suharto era in Indonesia">Reform era</a></td><td style="text-align:right;"> 1998–present</td></tr></tbody></table></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)"><a href="/wiki/Regions_of_Indonesia" title="Regions of Indonesia">Regions</a></div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"> <ul><li><a href="/wiki/History_of_Jakarta" title="History of Jakarta">Jakarta</a></li> <li><a href="/wiki/History_of_Bali" title="History of Bali">Bali</a></li> <li><a href="/wiki/History_of_Bogor" title="History of Bogor">Bogor</a></li> <li><a href="/wiki/History_of_Bandung" title="History of Bandung">Bandung</a></li></ul> </div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="border:none;background:gainsboro;text-align:center;;color: var(--color-base)">By topic</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"> <ul><li><a href="/wiki/History_of_agriculture_in_Indonesia" class="mw-redirect" title="History of agriculture in Indonesia">Agriculture</a></li> <li><a href="/wiki/Archaeology_of_Indonesia" title="Archaeology of Indonesia">Archaeology</a></li> <li><a href="/wiki/History_of_the_Indonesian_rupiah" title="History of the Indonesian rupiah">Currency</a></li> <li><a class="mw-selflink selflink">Economy</a></li> <li><a href="/wiki/History_of_education_in_Indonesia" class="mw-redirect" title="History of education in Indonesia">Education</a></li> <li><a href="/wiki/Javanese_historical_texts" title="Javanese historical texts">Javanese historical texts</a></li> <li><a href="/wiki/History_of_religion_in_Indonesia" class="mw-redirect" title="History of religion in Indonesia">Religion</a> <ul><li><a href="/wiki/History_of_Buddhism_in_Indonesia" class="mw-redirect" title="History of Buddhism in Indonesia">Buddhism</a></li> <li><a href="/wiki/History_of_Christianity_in_Indonesia" class="mw-redirect" title="History of Christianity in Indonesia">Christianity</a></li> <li><a href="/wiki/History_of_Hinduism_in_Indonesia" class="mw-redirect" title="History of Hinduism in Indonesia">Hinduism</a></li> <li><a href="/wiki/History_of_Islam_in_Indonesia" class="mw-redirect" title="History of Islam in Indonesia">Islam</a></li> <li><a href="/wiki/History_of_the_Jews_in_Indonesia" title="History of the Jews in Indonesia">Judaism</a></li></ul></li> <li><a href="/wiki/History_of_mass_media_in_Indonesia" class="mw-redirect" title="History of mass media in Indonesia">Mass media</a></li> <li><a href="/wiki/Military_history_of_Indonesia" title="Military history of Indonesia">Military</a></li> <li><a href="/wiki/History_of_sports_in_Indonesia" class="mw-redirect" title="History of sports in Indonesia">Sport</a></li> <li><a href="/wiki/History_of_women_in_Indonesia" class="mw-redirect" title="History of women in Indonesia">Women</a></li></ul> <p><br /> </p> </div></div></div></td> </tr><tr><td class="sidebar-below" style="border-bottom:#aaa 1px solid;"> <span class="nowrap"><span class="mw-image-border noviewer" typeof="mw:File"><span><img alt="flag" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/16px-Flag_of_Indonesia.svg.png" decoding="async" width="16" height="11" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/24px-Flag_of_Indonesia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/32px-Flag_of_Indonesia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span> </span><a href="/wiki/Portal:Indonesia" title="Portal:Indonesia">Indonesia portal</a></td></tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:History_of_Indonesia" title="Template:History of Indonesia"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:History_of_Indonesia" title="Template talk:History of Indonesia"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:History_of_Indonesia" title="Special:EditPage/Template:History of Indonesia"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>The <b>economic history of Indonesia</b> is shaped by its geographic location, its natural resources, as well as <a href="/wiki/Native_Indonesians" title="Native Indonesians">its people</a> that inhabited the archipelago that today formed the modern nation-state of the <a href="/wiki/Indonesia" title="Indonesia">Republic of Indonesia</a>. The foreign contact and international trade with foreign counterparts had also shaped and sealed the fate of Indonesian archipelago, as Indians, Chinese, Arabs, and eventually European traders reached the archipelago during the <a href="/wiki/Age_of_Exploration" class="mw-redirect" title="Age of Exploration">Age of Exploration</a> and participated in the <a href="/wiki/Spice_trade" title="Spice trade">spice trade</a>, war and conquest. </p><p>By the early 17th century, the <a href="/wiki/Dutch_East_India_Company" title="Dutch East India Company">Dutch East India Company</a> (VOC), one of the world's earliest <a href="/wiki/Multinational_company" class="mw-redirect" title="Multinational company">multinational companies</a>, had established their base in the archipelago as they monopolised the spice trade. By 1800, the <a href="/wiki/Dutch_East_Indies" title="Dutch East Indies">Dutch East Indies</a> colonial state had emerged and benefited from <a href="/wiki/Cash_crop" title="Cash crop">cash crop</a> trades of coffee, tea, quinine, rubber and <a href="/wiki/Palm_oil" title="Palm oil">palm oil</a> from the colony, also from the mining sector: <a href="/wiki/Crude_oil" class="mw-redirect" title="Crude oil">oil</a>, <a href="/wiki/Coal" title="Coal">coal</a>, <a href="/wiki/Tin" title="Tin">tin</a> and <a href="/wiki/Copper" title="Copper">copper</a>. The colonial state would be succeeded by the Indonesian Republic after <a href="/wiki/World_War_II" title="World War II">World War II</a>. </p><p>By the early 21st century, <a href="/wiki/Indonesia" title="Indonesia">Indonesia</a> rose to be the <a href="/wiki/Economy_of_Indonesia" title="Economy of Indonesia">largest economy</a> in Southeast Asia, as one of the <a href="/wiki/Emerging_markets" class="mw-redirect" title="Emerging markets">emerging market</a> economies of the world, a member of <a href="/wiki/G-20_major_economies" class="mw-redirect" title="G-20 major economies">G-20 major economies</a> and classified as a <a href="/wiki/Newly_industrialised_country" class="mw-redirect" title="Newly industrialised country">newly industrialised country</a>.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Pre-modern_Indonesia">Pre-modern Indonesia</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=1" title="Edit section: Pre-modern Indonesia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Hindu-Buddhist_kingdoms_period">Hindu-Buddhist kingdoms period</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=2" title="Edit section: Hindu-Buddhist kingdoms period"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The economy of most of villages and polities in the archipelago initially relied heavily on <a href="/wiki/Rice_production_in_Indonesia" title="Rice production in Indonesia">rice agriculture</a>, as well as the trading of forests products such as tropical fruits, hunted animals, plant resins, rattan and hardwood. Ancient kingdoms such as the <a href="/wiki/Tarumanagara" title="Tarumanagara">Tarumanagara</a> and <a href="/wiki/Mataram_Kingdom" class="mw-redirect" title="Mataram Kingdom">Mataram</a> were dependent on rice yields and tax. </p><p>For a long time, the archipelago was known for its abundance of natural resources. Spices such as <a href="/wiki/Nutmeg" title="Nutmeg">nutmeg</a> and <a href="/wiki/Cloves" class="mw-redirect" title="Cloves">cloves</a> from <a href="/wiki/Maluku_Islands" title="Maluku Islands">Maluku Islands</a>, <a href="/wiki/Black_pepper" title="Black pepper">pepper</a> and <a href="/wiki/Cubeb" class="mw-redirect" title="Cubeb">cubeb</a> from southern Sumatra and western Java, <a href="/wiki/Rice" title="Rice">rice</a> from <a href="/wiki/Java" title="Java">Java</a>, <a href="/wiki/Gold" title="Gold">gold</a>, <a href="/wiki/Copper" title="Copper">copper</a> and <a href="/wiki/Tin" title="Tin">tin</a> from <a href="/wiki/Sumatra" title="Sumatra">Sumatra</a>, <a href="/wiki/Borneo" title="Borneo">Borneo</a> and the <a href="/wiki/Bangka_Belitung" class="mw-redirect" title="Bangka Belitung">islands in between</a>, <a href="/wiki/Camphor" title="Camphor">camphor</a> resin from port of <a href="/wiki/Barus" title="Barus">Barus</a>, <a href="/wiki/Sappan_wood" class="mw-redirect" title="Sappan wood">sappan</a> and <a href="/wiki/Sandalwood" title="Sandalwood">sandalwood</a> from the <a href="/wiki/Lesser_Sunda_Islands" title="Lesser Sunda Islands">Lesser Sunda Islands</a>, hardwoods from Borneo, ivory and rhino's horn from Sumatra and exotic <a href="/wiki/Bird-of-paradise" title="Bird-of-paradise">bird feathers</a> from the <a href="/wiki/Western_New_Guinea" title="Western New Guinea">Western New Guinea</a> are among a few products sought by traders worldwide. This foreign contact was started by small <a href="/wiki/Greater_India" title="Greater India">Indianised trading kingdoms</a> in the early 4th century that nurtured contacts with other major civilisations in the Asian mainland, <a href="/wiki/India" title="India">India</a> and <a href="/wiki/China" title="China">China</a>. Benefited by its strategic location on a thriving maritime trade route between India and China, polities in Indonesian archipelago soon would grow into a thriving, healthy, and cosmopolitan trading empire such as <a href="/wiki/Srivijaya" title="Srivijaya">Srivijaya</a> that rose in the 7th century. </p> <div class="mw-heading mw-heading4"><h4 id="Srivijaya">Srivijaya</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=3" title="Edit section: Srivijaya"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In the world of commerce, Srivijaya rose rapidly to be a far-flung empire controlling the two passages between India and China, namely the <a href="/wiki/Sunda_Strait" title="Sunda Strait">Sunda Strait</a> from Palembang and the <a href="/wiki/Malacca_Strait" class="mw-redirect" title="Malacca Strait">Malacca Strait</a> from Kedah. Arab accounts stated that the empire of the maharaja was so vast that in two years the swiftest vessel could not travel round all its islands, which produced camphor, aloes, cloves, sandalwood, nutmegs, cardamom and cubebs, ivory, gold and tin, making the maharaja as rich as any king in India.<sup id="cite_ref-Poesponegoro_2-0" class="reference"><a href="#cite_note-Poesponegoro-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>Other than fostering the lucrative trade relations with India and China, Srivijaya also established commerce link with the <a href="/wiki/Arabian_Peninsula" title="Arabian Peninsula">Arabian Peninsula</a>. A messenger sent by Maharaja <a href="/wiki/Sri_Indravarman" title="Sri Indravarman">Sri Indravarman</a> delivered his letter for <a href="/wiki/Caliph" class="mw-redirect" title="Caliph">Caliph</a> <a href="/wiki/Umar_ibn_AbdulAziz" class="mw-redirect" title="Umar ibn AbdulAziz">Umar ibn AbdulAziz</a> of <a href="/wiki/Ummayad" class="mw-redirect" title="Ummayad">Ummayad</a> in 718 and was returned to Srivijaya with <i>Zanji</i> (black female slave from <a href="/wiki/Zanj" title="Zanj">Zanj</a>), the Caliph's present for maharaja. The Chinese chronicle later mentioned about <i>Che-li-t'o-lo-pa-mo</i> (Sri Indravarman), Maharaja of <i>Shih-li-fo-shih</i> in 724 had sent the emperor a <i>ts'engchi</i> (Chinese spelling of Arabic <i>Zanji</i>) as a gift.<sup id="cite_ref-Azra_3-0" class="reference"><a href="#cite_note-Azra-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> Srivijaya would continue to dominate the economy of the archipelago until its decline in the 13th century. </p> <div class="mw-heading mw-heading4"><h4 id="Majapahit">Majapahit</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=4" title="Edit section: Majapahit"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Majapahit,_Piggy_Bank.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/0/04/Majapahit%2C_Piggy_Bank.jpg/220px-Majapahit%2C_Piggy_Bank.jpg" decoding="async" width="220" height="215" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/0/04/Majapahit%2C_Piggy_Bank.jpg/330px-Majapahit%2C_Piggy_Bank.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/0/04/Majapahit%2C_Piggy_Bank.jpg/440px-Majapahit%2C_Piggy_Bank.jpg 2x" data-file-width="567" data-file-height="553" /></a><figcaption><a href="/wiki/Majapahit" title="Majapahit">Majapahit</a> <a href="/wiki/Terracotta" title="Terracotta">Terracotta</a> <a href="/wiki/Piggy_Bank" class="mw-redirect" title="Piggy Bank">Piggy Bank</a>, 14th–15th century <a href="/wiki/Trowulan" title="Trowulan">Trowulan</a>, <a href="/wiki/East_Java" title="East Java">East Java</a> (collection of <a href="/wiki/National_Museum_of_Indonesia" title="National Museum of Indonesia">National Museum of Indonesia</a>, <a href="/wiki/Jakarta" title="Jakarta">Jakarta</a>)</figcaption></figure> <p>In the 14th century Java, the <a href="/wiki/Majapahit" title="Majapahit">Majapahit</a> kingdom would grow into a maritime empire that would control the trade and economy of the archipelago for another century. According to a Chinese source from <a href="/wiki/Ming_Dynasty" class="mw-redirect" title="Ming Dynasty">Ming Dynasty</a>, <i>Yingya Shenglan</i>, Ma Huan reported on the Javanese economy and market. Rice is harvested twice a year, and its grain is small. They also harvest white sesame and lentils, but there is no wheat. This land produces <a href="/wiki/Caesalpinia_sappan" class="mw-redirect" title="Caesalpinia sappan">sapan wood</a> (useful to produce red dye), diamond, sandalwood, incense, <i>puyang</i> pepper, <a href="/wiki/Cantharides" class="mw-redirect" title="Cantharides">cantharides</a> (green beetles used for medicine), steel, turtles, tortoise shell, strange and rare birds; such as a large parrot as big as a hen, red and green parrots, five-coloured parrots that can imitate the human voice, also guinea fowl, peacock, 'betel tree bird', pearl bird, and green pigeons. The beasts here are strange: there are white deer, white monkey, and various other animals. Pigs, goats, cattle, horses, poultries, and there are all types of ducks.<sup id="cite_ref-yingyai_4-0" class="reference"><a href="#cite_note-yingyai-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> For the fruits, there are all kinds of bananas, coconut, sugarcane, pomegranate, lotus, <i>mang-chi-shi</i> (mangosteen), watermelon and <i>lang Ch'a</i> (<i>langsat</i> or <a href="/wiki/Lanzones" class="mw-redirect" title="Lanzones">lanzones</a>). In addition, all types of squash and vegetables are present.<sup id="cite_ref-yingyai_4-1" class="reference"><a href="#cite_note-yingyai-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p><p>Taxes and fines were paid in cash. The Javanese economy had been partly monetised since the late 8th century by using gold and silver coins. Previously, the 9th-century <a href="/wiki/Wonoboyo_hoard" title="Wonoboyo hoard">Wonoboyo hoard</a> discovered in Central Java shows that ancient Javan gold coins were seed-shaped similar to corn, while the silver coins were similar to buttons. Around 1300, during the reign of Majapahit's first king, an important change took place: the indigenous coinage was replaced entirely by imported Chinese copper cash. About 10,388 ancient Chinese coins weighing about 40 kg were unearthed from the backyard of a local resident in <a href="/wiki/Sidoarjo" class="mw-redirect" title="Sidoarjo">Sidoarjo</a> in November 2008. Indonesian Ancient Relics Conservation Bureau (BP3) of East Java verified that the coins dated as early as the Majapahit era.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> The reason for the use of foreign currency is not given in any source, but most scholars assume it was due to the increasing complexity of Javanese economy and a desire for a <a href="/wiki/Currency" title="Currency">currency</a> system that used much smaller denominations suitable for use in everyday market transactions. This was a role for which gold and silver are not well suited.<sup id="cite_ref-miksic_6-0" class="reference"><a href="#cite_note-miksic-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 107">: 107 </span></sup> These <i>kepeng</i> Chinese coins were thin rounded copper coins with a square hole in the centre of it, meant to tie together the money in a string of coins. These small changes—the imported Chinese copper coins—enabled Majapahit further invention, a method of savings by using a slitted earthenware coin containers. These are commonly found in Majapahit ruins; the slit is the small opening to put the coins in. The most popular shape is boar-shaped <i>celengan</i> (piggy bank). </p><p>Some ideas for the scale of the internal economy can be gathered from scattered data in inscriptions. The Canggu inscriptions dated 1358 mentions 78 ferry crossings in the country (mandala Java).<sup id="cite_ref-miksic_6-1" class="reference"><a href="#cite_note-miksic-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 107">: 107 </span></sup> Majapahit inscriptions mention a large number of occupational specialities, ranging from gold and silver smiths to drink vendors and butchers. Although many of these occupations had existed in earlier times, the proportion of the population earning an income from non-agrarian pursuits seems to have become even more significant during the Majapahit era. </p><p>The great prosperity of Majapahit was probably due to two factors. First, the northeast lowlands of Java were suitable for rice <a href="/wiki/Tillage" title="Tillage">cultivation</a>, and during Majapahit's prime, numerous irrigation projects were undertaken, some with government assistance. Second, Majapahit's ports on the north coast were probably significant stations along the route to obtain the spices of <a href="/wiki/Maluku_Islands" title="Maluku Islands">Maluku</a>, and as the spices passed through Java, they would have provided an essential source of income for Majapahit.<sup id="cite_ref-miksic_6-2" class="reference"><a href="#cite_note-miksic-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 107">: 107 </span></sup> </p><p>The <a href="/wiki/Nagarakertagama" class="mw-redirect" title="Nagarakertagama">Nagarakertagama</a> states that the fame of the ruler of Majapahit attracted foreign merchants from afar, including Indians, Khmers, Siamese, and Chinese, among others. While in a later period, <i>Yingya Shenglan</i> mentioned that large numbers of Chinese traders and Muslim merchants from the west (from Arab and India, but mostly from Muslim states in Sumatra and Malay peninsula) are settling in Majapahit port cities, such as <a href="/wiki/Tuban" title="Tuban">Tuban</a>, <a href="/wiki/Gresik" class="mw-redirect" title="Gresik">Gresik</a> and Hujung Galuh (<a href="/wiki/Surabaya" title="Surabaya">Surabaya</a>). A special tax was levied against some foreigners, possibly those who had taken up semi-permanent residence in Java and conducted some type of enterprise other than foreign trade. The Majapahit Empire had trading links with Chinese <a href="/wiki/Ming_dynasty" title="Ming dynasty">Ming dynasty</a>, <a href="/wiki/Vietnam" title="Vietnam">Annam</a> and <a href="/wiki/Champa" title="Champa">Champa</a> in present-day Vietnam, <a href="/wiki/Cambodia" title="Cambodia">Cambodia</a>, Siamese <a href="/wiki/Ayutthaya_Kingdom" title="Ayutthaya Kingdom">Ayutthayan</a>, Burmese <a href="/wiki/Martaban" class="mw-redirect" title="Martaban">Martaban</a> and the south Indian <a href="/wiki/Vijayanagara_Empire" title="Vijayanagara Empire">Vijayanagara Empire</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Spread_of_Islam_and_Muslim_trading_network">Spread of Islam and Muslim trading network</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=5" title="Edit section: Spread of Islam and Muslim trading network"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">Further information: <a href="/wiki/Spread_of_Islam_in_Indonesia" title="Spread of Islam in Indonesia">Spread of Islam in Indonesia</a></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:Jewel_of_Muscat,_Maritime_Experiential_Museum_%26_Aquarium,_Singapore_-_20120102-02.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/6/69/Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg/220px-Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/6/69/Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg/330px-Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/6/69/Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg/440px-Jewel_of_Muscat%2C_Maritime_Experiential_Museum_%26_Aquarium%2C_Singapore_-_20120102-02.jpg 2x" data-file-width="3872" data-file-height="2592" /></a><figcaption>Arabian <a href="/wiki/Dhow" title="Dhow">dhow</a> modelled after 9th century <a href="/wiki/Belitung_shipwreck" title="Belitung shipwreck">Belitung shipwreck</a></figcaption></figure> <p>The <a href="/wiki/Muslim" class="mw-redirect" title="Muslim">Muslim</a> traders had spread the <a href="/wiki/Islam" title="Islam">Islamic</a> faith across the trade routes that connect to the <a href="/wiki/Islamic_World" class="mw-redirect" title="Islamic World">Islamic World</a>. The routes spanned from the Mediterranean, the Middle East, India, Maritime Southeast Asia to China. Muslim traders from the Arabian peninsula and the <a href="/wiki/Persian_Gulf" title="Persian Gulf">Persian Gulf</a> have sailed the Indonesian archipelago on their way to China since at least the 9th century, as testified through the discovery of <a href="/wiki/Belitung_shipwreck" title="Belitung shipwreck">Belitung shipwreck</a> that contains cargoes from China, discovered offshore of <a href="/wiki/Belitung" title="Belitung">Belitung</a> island. The Muslim traders and proselytiser had encouraged the rise of Islamic states in the archipelago. By the 13th century, Islam had gained its foothold in the archipelago through the establishment of <a href="/wiki/Samudera_Pasai_Sultanate" title="Samudera Pasai Sultanate">Samudra Pasai</a> in <a href="/wiki/Aceh" title="Aceh">Aceh</a> and <a href="/wiki/Ternate_Sultanate" class="mw-redirect" title="Ternate Sultanate">Ternate Sultanate</a> in the Maluku Islands. The spice-producing <a href="/wiki/Maluku_islands" class="mw-redirect" title="Maluku islands">Maluku islands</a> gained its name from Arabic "Jazirat al Muluk" which means "the peninsula or islands of kings". </p><p>By the 14th century, these Muslim ports began to thrive as they welcome Muslim traders from India and the Middle East. Among the most notable Muslim kingdoms are the <a href="/wiki/Malacca_Sultanate" title="Malacca Sultanate">Malacca Sultanate</a> that control the strategic Malacca Strait and the <a href="/wiki/Demak_Sultanate" title="Demak Sultanate">Demak Sultanate</a> that replaced Majapahit as the regional power in Java. Both were also active in spreading Islam in the archipelago, and by the late 15th century, Islam has supplanted Hinduism and Buddhism in Java and Sumatra, and Sulawesi and northern Maluku as well. The Islamic polities in the archipelago formed parts of the more extensive Islamic trading networks that spanned from <a href="/wiki/Al-Andalus" title="Al-Andalus">Al-Andalus</a> in the West to Muslim trading colonies in Chinese ports of the East, as spices from Indonesia like cloves, nutmeg and pepper could reach spice markets in <a href="/wiki/Guangzhou" title="Guangzhou">Canton</a>, Damascus and Cairo. </p> <div class="mw-heading mw-heading2"><h2 id="Colonial_era">Colonial era</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=6" title="Edit section: Colonial era"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="The_arrival_of_Europeans_and_the_spice_and_cash-crop_trade">The arrival of Europeans and the spice and cash-crop trade</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=7" title="Edit section: The arrival of Europeans and the spice and cash-crop trade"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg/170px-Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg" decoding="async" width="170" height="226" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/24/Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg/255px-Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/24/Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg/340px-Myristica_fragrans_-_K%C3%B6hler%E2%80%93s_Medizinal-Pflanzen-097.jpg 2x" data-file-width="445" data-file-height="592" /></a><figcaption>The <a href="/wiki/Nutmeg" title="Nutmeg">nutmeg</a> plant is native to Indonesia's <a href="/wiki/Banda_Islands" title="Banda Islands">Banda Islands</a>. Once one of the world's most valuable commodities, it drew the first European colonial powers to Indonesia.</figcaption></figure> <p>The <a href="/wiki/Portugal" title="Portugal">Portuguese</a> were the first Europeans to reach the Indonesian archipelago. Their quest to dominate the source of the lucrative <a href="/wiki/Spice_trade" title="Spice trade">spice trade</a> in the early 16th century, and their simultaneous <a href="/wiki/Roman_Catholic" class="mw-redirect" title="Roman Catholic">Roman Catholic</a> missionary efforts, saw the establishment of trading posts and forts, and a strong Portuguese cultural element that remains substantial in modern Indonesia. Starting with the first exploratory expeditions sent from the newly-conquered <a href="/wiki/Portuguese_Malacca" title="Portuguese Malacca">Malacca</a> in 1512, the Portuguese fleet began to explore much of archipelago and sought to dominate the sources of valuable spices.<sup id="cite_ref-RICKLEFSp24_7-0" class="reference"><a href="#cite_note-RICKLEFSp24-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> However, the Portuguese presence was later reduced to <a href="/wiki/Solor" title="Solor">Solor</a>, <a href="/wiki/Flores" title="Flores">Flores</a> and <a href="/wiki/Timor" title="Timor">Timor</a> (see <a href="/wiki/Portuguese_Timor" title="Portuguese Timor">Portuguese Timor</a>) in modern-day Nusa Tenggara, due to their 1575 defeat at <a href="/wiki/Ternate" title="Ternate">Ternate</a> at the hands of indigenous Ternateans, and its defeat to the Dutch. </p><p>In the early 17th century, the VOC was founded. Its main business was profiting in intra-Asian trade and establishing direct <a href="/wiki/Spice_trade" title="Spice trade">spice trade</a> between the archipelago and Europe. One by one, the Dutch began to wrestle Portuguese possessions that started with Dutch conquests in <a href="/wiki/Ambon_Island" title="Ambon Island">Ambon</a>, northern <a href="/wiki/Maluku_Islands" title="Maluku Islands">Maluku</a> and <a href="/wiki/Banda_Islands" title="Banda Islands">Banda</a>, and a general Portuguese failure for sustained control of trade in the region.<sup id="cite_ref-MILLER_XV_8-0" class="reference"><a href="#cite_note-MILLER_XV-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Statistically, the VOC eclipsed all of its rivals in the Asian trade. Between 1602 and 1796, the VOC sent almost a million Europeans to work in the Asian trade on 4,785 ships and netted for their efforts more than 2.5 million tons of Asian trade goods. The VOC enjoyed huge profits from its spice monopoly through most of the 17th century.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> VOC took huge profit from monopolising the <a href="/wiki/Maluku_Islands" title="Maluku Islands">Maluku</a> spice trade, and in 1619 the VOC established a capital in the port city of Jacatra and changed the city name into <a href="/wiki/Batavia,_Dutch_East_Indies" title="Batavia, Dutch East Indies">Batavia</a> (present-day <a href="/wiki/Jakarta" title="Jakarta">Jakarta</a>). Over the next two centuries, the VOC acquired additional ports as trading bases and safeguarded their interests by taking over surrounding territory.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> It remained a paramount trading concern and paid an 18% annual <a href="/wiki/Dividend" title="Dividend">dividend</a> for almost 200 years.<sup id="cite_ref-RICKLEFSp110_11-0" class="reference"><a href="#cite_note-RICKLEFSp110-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Dutch_East_Indies">Dutch East Indies</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=8" title="Edit section: Dutch East Indies"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/51/COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg/220px-COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg" decoding="async" width="220" height="170" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/51/COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg/330px-COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/51/COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg/440px-COLLECTIE_TROPENMUSEUM_Arbeiders_poseren_bij_een_in_aanbouw_zijnde_spoorwegtunnel_in_de_bergen_TMnr_60047638.jpg 2x" data-file-width="700" data-file-height="541" /></a><figcaption>Workers pose at the site of a railway tunnel under construction in the mountains, 1910.</figcaption></figure> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Cultivation_System" title="Cultivation System">Cultivation System</a> and <a href="/wiki/Liberal_Period_(Dutch_East_Indies)" title="Liberal Period (Dutch East Indies)">Liberal Period (Dutch East Indies)</a></div> <p>The <a href="/wiki/Dutch_East_Indies" title="Dutch East Indies">Dutch East Indies</a> was formed from the nationalised colonies of the VOC, which came under the administration of the <a href="/wiki/Netherlands" title="Netherlands">Dutch</a> government in 1800. The economic history of the colony was closely related to the economic health of the Netherlands.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Despite increasing returns from the Dutch system of land tax, Dutch finances had been severely affected by the cost of the <a href="/wiki/Java_War" title="Java War">Java War</a> and the <a href="/wiki/Padri_War" title="Padri War">Padri War</a>, and the loss of Belgium in 1830 brought the Netherlands to the brink of bankruptcy. In 1830, a new <a href="/wiki/Governor-General_of_the_Dutch_East_Indies" class="mw-redirect" title="Governor-General of the Dutch East Indies">Governor-General</a>, <a href="/wiki/Johannes_van_den_Bosch" title="Johannes van den Bosch">Johannes van den Bosch</a>, was appointed to make the Indies pay their way through the Dutch exploitation of its resources. With the Dutch achieving political domination throughout Java for the first time in 1830,<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> it was possible to introduce an agricultural policy of government-controlled forced cultivation. Termed <i>cultuurstelsel</i> (cultivation system) in Dutch and <i>tanam paksa</i> (forced plantation) in Indonesian, farmers were required to deliver fixed amounts of specified crops such as sugar or coffee as a form of tax.<sup id="cite_ref-Taylor_2003,_p._240_14-0" class="reference"><a href="#cite_note-Taylor_2003,_p._240-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Much of Java eventually became a Dutch plantation and revenue rose continually through the 19th century which were reinvested into the Netherlands to save it from bankruptcy.<sup id="cite_ref-Taylor_2003,_p._240_14-1" class="reference"><a href="#cite_note-Taylor_2003,_p._240-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-LP_23-25_15-0" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> Between 1830 and 1870, one billion guilders were taken from the archipelago, which on average, making 25% of the annual Dutch government budget.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> The Cultivation System, however, brought much economic hardship to the Javanese peasants who suffered famine and epidemics in the 1840s.<sup id="cite_ref-LP_23-25_15-1" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>The system proved disastrous for the local population; at its height, over 1 million farmers worked under the <i>Cultuurstelsel</i> and the extreme incentive for profit resulted in widespread abuses. Farmers were often forced to either use more than 20% of their farmland, or the most fertile land, for cultivation of cash crops. The system led to an increase in famine and disease among the local population. It is estimated that mortality rates increased by as much as 30% during this period.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> </p> <figure class="mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_(Singapore,_Borneo,_Java,_Sumatra,_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/4/42/1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg/300px-1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg" decoding="async" width="300" height="218" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/4/42/1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg/450px-1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/4/42/1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg/600px-1818_Pinkerton_Map_of_the_East_Indies_and_Southeast_Asia_%28Singapore%2C_Borneo%2C_Java%2C_Sumatra%2C_Thailand_-_Geographicus_-_EastIndiaIslands-pinkerton-1818.jpg 2x" data-file-width="6000" data-file-height="4357" /></a><figcaption>Map of the Dutch East Indies in 1818</figcaption></figure> <p>Critical public opinion in the Netherlands led to much of the Cultivation System's excesses being eliminated under the agrarian reforms of the "Liberal Period." Dutch private capital flowed in after 1850, especially in <a href="/wiki/Tin_mining" title="Tin mining">tin mining</a> and plantation estate agriculture. The Billiton Company's tin mines off the eastern Sumatra coast was financed by a syndicate of Dutch entrepreneurs, including the younger brother of King William III. Mining began in 1860. In 1863, <a href="/wiki/Jacob_Nienhuys" title="Jacob Nienhuys">Jacob Nienhuys</a> obtained a concession from the <a href="/wiki/Sultanate_of_Deli" title="Sultanate of Deli">Sultanate of Deli</a> for a large <a href="/wiki/Tobacco" title="Tobacco">tobacco</a> estate.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> The Dutch East Indies were opened up to private enterprise, and Dutch business people set up large, profitable plantations. Sugar production doubled between 1870 and 1885. New crops such as tea and cinchona flourished, and rubber was introduced, leading to dramatic increases in Dutch profits. Changes were not limited to Java or agriculture; oil from Sumatra and Borneo became a valuable resource for industrialising Europe. Dutch commercial interests expanded off Java to the outer islands with increasingly more territory coming under direct Dutch control or dominance in the latter half of the 19th century.<sup id="cite_ref-LP_23-25_15-2" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> However, the resulting scarcity of land for rice production, combined with dramatically increasing populations, especially in Java, led to further hardships.<sup id="cite_ref-LP_23-25_15-3" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p>The colonial exploitation of the archipelago's wealth contributed to the industrialisation of the Netherlands, while simultaneously laying the foundation for the industrialisation of Indonesia. The Dutch introduced coffee, tea, cacao, tobacco and rubber and large expanses of Java became plantations cultivated by Javanese peasants, collected by Chinese intermediaries, and sold on overseas markets by European merchants.<sup id="cite_ref-LP_23-25_15-4" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> In the late 19th century, economic growth was based on substantial world demand for tea, coffee, and cinchona. The government invested heavily in a railroad network (150 miles long in 1873, 1,200 in 1900), as well as telegraph lines, and entrepreneurs opened banks, shops and newspapers. The Dutch East Indies produced most of the world's supply of quinine and pepper, over a third of its rubber, a quarter of its coconut products, and a fifth of its tea, sugar, coffee, and oil. The profit from the Dutch East Indies made the Netherlands one of the world's most significant colonial powers.<sup id="cite_ref-LP_23-25_15-5" class="reference"><a href="#cite_note-LP_23-25-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Koninklijke_Paketvaart-Maatschappij" title="Koninklijke Paketvaart-Maatschappij">Royal Packet Navigation Company</a> shipping line supported the unification of the colonial economy and brought inter-island shipping through to Batavia, rather than through Singapore, thus focusing more economic activity on Java.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> </p><p>The worldwide recession of the late 1880s and early 1890s saw the commodity prices on which the colony depended collapse. Journalists and civil servants observed that the majority of the Indies population were no better off than under the previous regulated Cultivation System economy and tens of thousands starved.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Commodity prices recovered from the recession, leading to increased investment in the colony. The sugar, tin, <a href="/wiki/Copra" title="Copra">copra</a> and coffee trade on which the colony had been built thrived, and rubber, tobacco, tea and oil also became principal exports.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Political reform increased the autonomy of the local colonial administration, moving away from central control from the Netherlands, while power was also diverged from the central Batavia government to more localised governing units. </p><p>The world economy recovered in the late 1890s and prosperity returned. Foreign investment, especially by the British, were encouraged. By 1900, foreign-held assets in the Dutch East Indies totalled about 750 million guilders ($300 million), mostly in Java.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>After 1900, upgrading the infrastructure of ports and roads was a high priority for the Dutch, with the goal of modernising the economy, facilitating commerce, and speeding up military movements. By 1950, Dutch engineers had built and upgraded a road network with 12,000 km of asphalted surface, 41,000 km of metalled road area and 16,000 km of gravel surfaces.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> In addition, the Dutch built 7,500 kilometres (4,700 mi) of railways, bridges, irrigation systems covering 1.4 million hectares (5,400 sq mi) of rice fields, several harbours, and 140 public drinking water systems. Wim Ravesteijn has said that "With these public works, Dutch engineers constructed the material base of the colonial and postcolonial Indonesian state."<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="The_Japanese_occupation">The Japanese occupation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=9" title="Edit section: The Japanese occupation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The Dutch East Indies fell to invading forces of the <a href="/wiki/Japanese_Empire" class="mw-redirect" title="Japanese Empire">Japanese Empire</a> in 1942. During <a href="/wiki/World_War_II" title="World War II">World War II</a>, the economy of Dutch East Indies was more or less crumbled, as every resource was directed toward war efforts of the empire, as the Japanese occupation forces applied strict martial policies. Many basic necessities such as food, clothing and medicine are scarce, and some regions even suffered famine. By early 1945, Japanese forces began to lose the war, culminating in the <a href="/wiki/Atomic_bombings_of_Hiroshima_and_Nagasaki" title="Atomic bombings of Hiroshima and Nagasaki">atomic bombings of Hiroshima and Nagasaki</a>. </p><p>During the Japanese occupation, the average height of the Indonesian population has decreased. As the change of a population's average height can be interpreted as a sign of economic development, Baten, Stegl and van der Eng found out that the people in Indonesia were able to grow on average after the occupation since the establishment of food or medical supply and a reduction of diseases was reassured. Thus, due to enhanced nutrition and medical supply (therefore an increase of the average height), the Indonesian economy was able to improve after the Japanese occupation.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Modern_era">Modern era</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=10" title="Edit section: Modern era"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Sukarno_presidency">Sukarno presidency</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=11" title="Edit section: Sukarno presidency"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><table class="box-Unreferenced_section plainlinks metadata ambox ambox-content ambox-Unreferenced" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Question_book-new.svg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/50px-Question_book-new.svg.png" decoding="async" width="50" height="39" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/75px-Question_book-new.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/99/Question_book-new.svg/100px-Question_book-new.svg.png 2x" data-file-width="512" data-file-height="399" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>does not <a href="/wiki/Wikipedia:Citing_sources" title="Wikipedia:Citing sources">cite</a> any <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">sources</a></b>.<span class="hide-when-compact"> Please help <a href="/wiki/Special:EditPage/Economic_history_of_Indonesia" title="Special:EditPage/Economic history of Indonesia">improve this section</a> by <a href="/wiki/Help:Referencing_for_beginners" title="Help:Referencing for beginners">adding citations to reliable sources</a>. Unsourced material may be challenged and <a href="/wiki/Wikipedia:Verifiability#Burden_of_evidence" title="Wikipedia:Verifiability">removed</a>.</span> <span class="date-container"><i>(<span class="date">February 2024</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:IND-17-Republik_Indonesia-1_Rupiah_(1945).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/2/2d/IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg/220px-IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg" decoding="async" width="220" height="217" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/2/2d/IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg/330px-IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/2/2d/IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg/440px-IND-17-Republik_Indonesia-1_Rupiah_%281945%29.jpg 2x" data-file-width="4563" data-file-height="4497" /></a><figcaption>Early Indonesian 1 <a href="/wiki/Rupiah" class="mw-redirect" title="Rupiah">rupiah</a> banknote, issued in 1945, shortly after <a href="/wiki/Indonesian_National_Revolution" title="Indonesian National Revolution">Indonesian National Revolution</a> started</figcaption></figure> <p>On 17 August 1945, <a href="/wiki/Sukarno" title="Sukarno">Sukarno</a> and <a href="/wiki/Mohammad_Hatta" title="Mohammad Hatta">Mohammad Hatta</a> proclaimed <a href="/wiki/Proclamation_of_Indonesian_Independence" title="Proclamation of Indonesian Independence">the independence of Indonesia</a>. Amid the turmoil, Indonesia issued its first <a href="/wiki/Rupiah" class="mw-redirect" title="Rupiah">rupiah</a> banknotes in 1945. Between 1945 and 1949, Indonesia was embroiled in a <a href="/wiki/Indonesian_National_Revolution" title="Indonesian National Revolution">war of independence</a> against Dutch re-colonisation efforts. The economic conditions were plunged into chaos, especially in Java and Sumatra, as people struggled to survive the war. </p><p>In the 1960s, the economy deteriorated drastically as a result of political instability. Indonesia had a young and inexperienced government, which resulted in severe poverty and hunger. By the time of Sukarno's downfall in the mid-1960s, the economy was in chaos with 1,000% annual inflation, shrinking export revenues, crumbling infrastructure, factories operating at minimal capacity, and negligible investment. </p> <div class="mw-heading mw-heading3"><h3 id="Suharto_presidency">Suharto presidency</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=12" title="Edit section: Suharto presidency"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure class="mw-default-size mw-halign-left" typeof="mw:File/Thumb"><a href="/wiki/File:President_Suharto,_1993.jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/President_Suharto%2C_1993.jpg/170px-President_Suharto%2C_1993.jpg" decoding="async" width="170" height="218" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/59/President_Suharto%2C_1993.jpg/255px-President_Suharto%2C_1993.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/59/President_Suharto%2C_1993.jpg/340px-President_Suharto%2C_1993.jpg 2x" data-file-width="1200" data-file-height="1537" /></a><figcaption> Under <a href="/wiki/Suharto" title="Suharto">Suharto</a>'s <a href="/wiki/New_Order_(Indonesia)" title="New Order (Indonesia)">New Order</a> administration, Indonesia enjoyed sustained economic development (1970s to 1996).</figcaption></figure> <p>Following President Sukarno's downfall, the New Order administration brought <a href="/wiki/Austerity" title="Austerity">a degree of discipline</a> to economic policy that quickly brought inflation down, stabilised the currency, rescheduled foreign debt, and attracted foreign aid and investment. (See <a href="/wiki/Berkeley_Mafia" title="Berkeley Mafia">Berkeley Mafia</a>). Indonesia was until recently Southeast Asia's only member of OPEC, and the 1970s oil price hike provided an export revenue windfall that contributed to sustained high economic growth rates, averaging over 7% from 1968 to 1981.<sup id="cite_ref-SCHWARZ_27-0" class="reference"><a href="#cite_note-SCHWARZ-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> GDP per capita grew 545% from 1970 to 1980 as a result of the sudden increase in oil export revenues from 1973 to 1979.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Due to high levels of regulation and dependence on declining oil prices, the growth slowed to an average of 4.3% per annum between 1981 and 1988. Subsequently, a range of economic reforms were introduced in the late 1980s including a managed devaluation of the rupiah to improve export competitiveness, and deregulation of the financial sector.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> Foreign investment flowed into Indonesia, particularly into the rapidly developing export-oriented manufacturing sector. As a result, the economy grew by an average of over 7% from 1989 to 1997.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p><p>Such high growth, however, masked several structural weaknesses in the economy. Growth came at a high cost in terms of weak and corrupt institutions, severe public indebtedness through mismanagement of the financial sector, the rapid depletion of Indonesia's natural resources, and culture of favours and corruption in the business elite.<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> Corruption particularly gained momentum in the 1990s, reaching to the highest levels of the political hierarchy. As a result, the legal system was fragile, and there was no effective way to enforce contracts, collect debts, or sue for bankruptcy. Banking practices were very unsophisticated, with collateral-based lending the norm and widespread violation of prudential regulations, including limits on connected lending. Non-tariff barriers, <a href="/wiki/Rent-seeking" title="Rent-seeking">rent-seeking</a> by state-owned enterprises, domestic subsidies, barriers to domestic trade and export restrictions all contributed to economic distortions. </p> <div class="mw-heading mw-heading4"><h4 id="1997_Asian_financial_crisis">1997 Asian financial crisis</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=13" title="Edit section: 1997 Asian financial crisis"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <figure typeof="mw:File/Thumb"><a href="/wiki/File:IDR_USD_exchange_1997-07-02_to_1998-05-21.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d2/IDR_USD_exchange_1997-07-02_to_1998-05-21.png/280px-IDR_USD_exchange_1997-07-02_to_1998-05-21.png" decoding="async" width="280" height="202" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d2/IDR_USD_exchange_1997-07-02_to_1998-05-21.png/420px-IDR_USD_exchange_1997-07-02_to_1998-05-21.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d2/IDR_USD_exchange_1997-07-02_to_1998-05-21.png/560px-IDR_USD_exchange_1997-07-02_to_1998-05-21.png 2x" data-file-width="702" data-file-height="506" /></a><figcaption>Indonesia followed Thailand in abandoning the <a href="/wiki/Fixed_exchange_rate" class="mw-redirect" title="Fixed exchange rate">fixed exchange rate</a> of its currency on 14 August 1997.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Indonesian_rupiah" title="Indonesian rupiah">rupiah</a> further devalued to its lowest point following the signing of the second IMF letter of intent on 15 January 1998.</figcaption></figure> <p>The <a href="/wiki/1997_Asian_financial_crisis" title="1997 Asian financial crisis">1997 Asian financial crisis</a> that began to affect Indonesia mid-year became an economic and political crisis. Indonesia's initial response was to float the rupiah, raise key domestic interest rates, and tighten fiscal policy. In October 1997, Indonesia and the <a href="/wiki/International_Monetary_Fund" title="International Monetary Fund">International Monetary Fund</a> (IMF) reached agreement on an economic reform program aimed at macroeconomic stabilisation and elimination of some of the country's most damaging economic policies, such as the National Car Program and the <a href="/wiki/Clove" title="Clove">clove</a> monopoly, both involving family members of President Suharto. The rupiah remained weak, however, and President Suharto was forced to resign in May 1998. In August 1998, Indonesia and the IMF agreed on an Extended Fund Facility (EFF) under President <a href="/wiki/B._J._Habibie" title="B. J. Habibie">B. J. Habibie</a> that included significant structural reform targets. <a href="/wiki/Abdurrahman_Wahid" title="Abdurrahman Wahid">Abdurrahman Wahid</a> took office as president in October 1999, and Indonesia and the IMF signed another EFF in January 2000. The new program also has a range of economic, structural reform and governance targets. </p><p>The effects of the financial and economic crisis were severe. By November 1997, rapid currency depreciation had seen public debt reach US$60 billion, imposing severe strains on the government's budget.<sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> In 1998, real GDP contracted by 13.1%. The economy reached its low point in mid-1999, and real GDP growth for the year was 0.8%. Inflation reached 72% in 1998 but slowed to 2% in 1999. The rupiah, which had been in the Rp 2,600/USD1 range at the start of August 1997 fell to 11,000/USD1 by January 1998, with spot rates around 15,000 for brief periods during the first half of 1998.<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> It returned to 8,000/USD1 range at the end of 1998 and has generally traded in the Rp 8,000–10,000/USD1 range ever since, with fluctuations that are relatively predictable and gradual. </p> <div class="mw-heading mw-heading3"><h3 id="Post-Suharto_era">Post-Suharto era</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=14" title="Edit section: Post-Suharto era"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1237032888/mw-parser-output/.tmulti">.mw-parser-output .tmulti .multiimageinner{display:flex;flex-direction:column}.mw-parser-output .tmulti .trow{display:flex;flex-direction:row;clear:left;flex-wrap:wrap;width:100%;box-sizing:border-box}.mw-parser-output .tmulti .tsingle{margin:1px;float:left}.mw-parser-output .tmulti .theader{clear:both;font-weight:bold;text-align:center;align-self:center;background-color:transparent;width:100%}.mw-parser-output .tmulti .thumbcaption{background-color:transparent}.mw-parser-output .tmulti .text-align-left{text-align:left}.mw-parser-output .tmulti .text-align-right{text-align:right}.mw-parser-output .tmulti .text-align-center{text-align:center}@media all and (max-width:720px){.mw-parser-output .tmulti .thumbinner{width:100%!important;box-sizing:border-box;max-width:none!important;align-items:center}.mw-parser-output .tmulti .trow{justify-content:center}.mw-parser-output .tmulti .tsingle{float:none!important;max-width:100%!important;box-sizing:border-box;text-align:center}.mw-parser-output .tmulti .tsingle .thumbcaption{text-align:left}.mw-parser-output .tmulti .trow>.thumbcaption{text-align:center}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .tmulti .multiimageinner img{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .tmulti .multiimageinner img{background-color:white}}</style><div class="thumb tmulti tright"><div class="thumbinner multiimageinner" style="width:229px;max-width:229px"><div class="trow"><div class="tsingle" style="width:227px;max-width:227px"><div class="thumbimage"><span typeof="mw:File"><a href="/wiki/File:Indonesian_Rupiah_(IDR)_banknotes.jpg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Indonesian_Rupiah_%28IDR%29_banknotes.jpg/225px-Indonesian_Rupiah_%28IDR%29_banknotes.jpg" decoding="async" width="225" height="151" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Indonesian_Rupiah_%28IDR%29_banknotes.jpg/338px-Indonesian_Rupiah_%28IDR%29_banknotes.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ec/Indonesian_Rupiah_%28IDR%29_banknotes.jpg/450px-Indonesian_Rupiah_%28IDR%29_banknotes.jpg 2x" data-file-width="1303" data-file-height="877" /></a></span></div><div class="thumbcaption">Indonesian <a href="/wiki/Rupiah" class="mw-redirect" title="Rupiah">rupiah</a> banknotes (2004–2016 design). This image does not feature the Rp2,000 note released in 2009.</div></div></div><div class="trow"><div class="tsingle" style="width:227px;max-width:227px"><div class="thumbimage"><span typeof="mw:File"><a href="/wiki/File:Rupiahseri2022.jpg" class="mw-file-description"><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/5f/Rupiahseri2022.jpg/225px-Rupiahseri2022.jpg" decoding="async" width="225" height="243" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/5f/Rupiahseri2022.jpg/338px-Rupiahseri2022.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/5f/Rupiahseri2022.jpg/450px-Rupiahseri2022.jpg 2x" data-file-width="1232" data-file-height="1328" /></a></span></div><div class="thumbcaption">Indonesian rupiah banknotes (2022 design)</div></div></div></div></div> <p>In late 2004, Indonesia faced a 'mini-crisis' due to <a href="/wiki/World_oil_market_chronology_from_2003" title="World oil market chronology from 2003">international oil prices rises</a> and imports. The currency reached Rp 12,000/USD1 before stabilising. The government was forced to cut its massive fuel subsidies in October, which were planned to cost $14 billion for 2005.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup> This led to a more than doubling in the price of consumer fuels, resulting in double-digit inflation. The situation eventually stabilised, but the economy continued to struggle with inflation at 17% in 2005. </p><p>Economic growth accelerated to 5.1% in 2004 and reached 5.6% in 2005. For 2006, Indonesia's economic outlook was more positive. Real per capita income has reached fiscal year of 1996/1997 levels. Growth was driven primarily by domestic consumption, which accounts for roughly three-fourths of Indonesia's gross domestic product. The <a href="/wiki/Jakarta_Stock_Exchange" title="Jakarta Stock Exchange">Jakarta Stock Exchange</a> was the best performing market in Asia in 2004 up by 42%. Problems that continue to put a drag on growth include low foreign investment levels, bureaucratic red tape, and pervasive corruption which causes 51.43 trillion rupiah or (US$5.6 billion) or approximately 1.4% of GDP to be lost annually.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> However, there was unyielding optimism with the conclusion of peaceful elections during 2004 and the election of the reformist president <a href="/wiki/Susilo_Bambang_Yudhoyono" title="Susilo Bambang Yudhoyono">Susilo Bambang Yudhoyono</a>. </p><p>The unemployment rate in February 2007 was 9.75%.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> Despite a slowing global economy, Indonesia's economic growth accelerated to a ten-year high of 6.3% in 2007. This growth rate was sufficient to reduce poverty from 17.8% to 16.6% based on the government's poverty line and reversed the recent trend towards <a href="/wiki/Jobless_recovery" title="Jobless recovery">jobless growth</a>, with unemployment falling to 8.46% in February 2008.<sup id="cite_ref-39" class="reference"><a href="#cite_note-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-40" class="reference"><a href="#cite_note-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> Unlike many of its more export-dependent neighbours, Indonesia managed to skirt the Great Recession, helped by strong domestic demand (which makes up about two-thirds of the economy) and a government fiscal stimulus package of about 1.4% of GDP. After India and China, Indonesia became the third-fastest growing economy in the G20. The $512-billion-economy expanded 4.4% in the first quarter from a year earlier, and in the previous month, the IMF revised its 2009 forecast for the country to 3-4% from 2.5%. Indonesia enjoyed stronger fundamentals with the implementation of wide-ranging economic and financial reforms, including a rapid reduction in public and external debt, strengthening of corporate and banking sector balance sheets and reduction of bank vulnerabilities through higher capitalisation and better supervision.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> The unemployment rate of Indonesia for 2012 is at 6% as per Vice-President of Indonesia Dr. Boediono.<sup id="cite_ref-ref2013022803_42-0" class="reference"><a href="#cite_note-ref2013022803-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> </p><p>In late 2020, Indonesia fell into its first recession in 22 years due to the effects of the global <a href="/wiki/COVID-19_pandemic" title="COVID-19 pandemic">COVID-19 pandemic</a>.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=15" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239009302">.mw-parser-output .portalbox{padding:0;margin:0.5em 0;display:table;box-sizing:border-box;max-width:175px;list-style:none}.mw-parser-output .portalborder{border:1px solid var(--border-color-base,#a2a9b1);padding:0.1em;background:var(--background-color-neutral-subtle,#f8f9fa)}.mw-parser-output .portalbox-entry{display:table-row;font-size:85%;line-height:110%;height:1.9em;font-style:italic;font-weight:bold}.mw-parser-output .portalbox-image{display:table-cell;padding:0.2em;vertical-align:middle;text-align:center}.mw-parser-output .portalbox-link{display:table-cell;padding:0.2em 0.2em 0.2em 0.3em;vertical-align:middle}@media(min-width:720px){.mw-parser-output .portalleft{clear:left;float:left;margin:0.5em 1em 0.5em 0}.mw-parser-output .portalright{clear:right;float:right;margin:0.5em 0 0.5em 1em}}</style><ul role="navigation" aria-label="Portals" class="noprint portalbox portalborder portalright"> <li class="portalbox-entry"><span class="portalbox-image"><span class="mw-image-border noviewer" typeof="mw:File"><span><img alt="flag" src="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/32px-Flag_of_Indonesia.svg.png" decoding="async" width="32" height="21" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/48px-Flag_of_Indonesia.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/9/9f/Flag_of_Indonesia.svg/64px-Flag_of_Indonesia.svg.png 2x" data-file-width="900" data-file-height="600" /></span></span></span><span class="portalbox-link"><a href="/wiki/Portal:Indonesia" title="Portal:Indonesia">Indonesia portal</a></span></li></ul> <ul><li><a href="/wiki/History_of_Indonesia" title="History of Indonesia">History of Indonesia</a></li> <li><a href="/wiki/Economy_of_Indonesia" title="Economy of Indonesia">Economy of Indonesia</a></li> <li><a href="/wiki/History_of_the_Indonesian_rupiah" title="History of the Indonesian rupiah">History of the Indonesian rupiah</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=16" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>Hup, Mark (2024). "<a href="//doi.org/10.1016/j.eeh.2024.101632" class="extiw" title="doi:10.1016/j.eeh.2024.101632">Labor coercion, fiscal modernization, and state capacity: Evidence from colonial Indonesia</a>". <i>Explorations in Economic History</i></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Economic_history_of_Indonesia&action=edit&section=17" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://g20.org/en/about/Pages/default.aspx">"About the G20"</a>. G20.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=About+the+G20&rft.pub=G20&rft_id=https%3A%2F%2Fg20.org%2Fen%2Fabout%2FPages%2Fdefault.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-Poesponegoro-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-Poesponegoro_2-0">^</a></b></span> <span class="reference-text">Marwati Djoened Poesponegoro, <a href="/wiki/Nugroho_Notosusanto" title="Nugroho Notosusanto">Nugroho Notosusanto</a>, (1992), <i>Sejarah nasional Indonesia: Jaman kuna</i>, PT Balai Pustaka, <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/979-407-408-X" title="Special:BookSources/979-407-408-X">979-407-408-X</a></span> </li> <li id="cite_note-Azra-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-Azra_3-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAzra2006" class="citation book cs1"><a href="/wiki/Azyumardi_Azra" title="Azyumardi Azra">Azra, Azyumardi</a> (2006). <i>Islam in the Indonesian world: an account of institutional formation</i>. Mizan Pustaka. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/979-433-430-8" title="Special:BookSources/979-433-430-8"><bdi>979-433-430-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Islam+in+the+Indonesian+world%3A+an+account+of+institutional+formation&rft.pub=Mizan+Pustaka&rft.date=2006&rft.isbn=979-433-430-8&rft.aulast=Azra&rft.aufirst=Azyumardi&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-yingyai-4"><span class="mw-cite-backlink">^ <a href="#cite_ref-yingyai_4-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-yingyai_4-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMa_Huan1970" class="citation book cs1 cs1-prop-foreign-lang-source">Ma Huan (1970) [1433]. <i><a href="/wiki/Yingya_Shenglan" title="Yingya Shenglan">Ying-yai Sheng-lan</a> (瀛涯胜览) The Overall Survey of the Ocean's Shores</i>. <a href="/wiki/Hakluyt_Society" title="Hakluyt Society">Hakluyt Society</a> (in Chinese). translated by J.V.G Mills. Cambridge University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780521010320" title="Special:BookSources/9780521010320"><bdi>9780521010320</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Ying-yai+Sheng-lan+%28%E7%80%9B%E6%B6%AF%E8%83%9C%E8%A7%88%29+The+Overall+Survey+of+the+Ocean%27s+Shores&rft.series=Hakluyt+Society&rft.pub=Cambridge+University+Press&rft.date=1970&rft.isbn=9780521010320&rft.au=Ma+Huan&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.kompas.com/read/xml/2008/11/24/17571290/uang.kuno.temuan.rohimin.peninggalan.majapahit">"Uang Kuno Temuan Rohimin Peninggalan Majapahit"</a>. <i>Kompas.com</i>. November 2008<span class="reference-accessdate">. Retrieved <span class="nowrap">20 August</span> 2017</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Kompas.com&rft.atitle=Uang+Kuno+Temuan+Rohimin+Peninggalan+Majapahit&rft.date=2008-11&rft_id=http%3A%2F%2Fwww.kompas.com%2Fread%2Fxml%2F2008%2F11%2F24%2F17571290%2Fuang.kuno.temuan.rohimin.peninggalan.majapahit&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-miksic-6"><span class="mw-cite-backlink">^ <a href="#cite_ref-miksic_6-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-miksic_6-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-miksic_6-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFJohn_Miksic1999" class="citation book cs1"><a href="/wiki/John_N._Miksic" title="John N. Miksic">John Miksic</a>, ed. (1999). <i>Ancient History</i>. Indonesian Heritage Series. Vol. 1. Archipelago Press / Editions Didier Millet. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9813018267" title="Special:BookSources/9813018267"><bdi>9813018267</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Ancient+History&rft.series=Indonesian+Heritage+Series&rft.pub=Archipelago+Press+%2F+Editions+Didier+Millet&rft.date=1999&rft.isbn=9813018267&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-RICKLEFSp24-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-RICKLEFSp24_7-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRicklefs1993" class="citation book cs1">Ricklefs, M.C (1993). <i>A History of Modern Indonesia Since c.1300, second edition</i>. London: MacMillan. pp. 22–24. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/0-333-57689-6" title="Special:BookSources/0-333-57689-6"><bdi>0-333-57689-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=A+History+of+Modern+Indonesia+Since+c.1300%2C+second+edition&rft.place=London&rft.pages=22-24&rft.pub=MacMillan&rft.date=1993&rft.isbn=0-333-57689-6&rft.aulast=Ricklefs&rft.aufirst=M.C&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-MILLER_XV-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-MILLER_XV_8-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMiller1996" class="citation book cs1">Miller, George, ed. (1996). <i>To The Spice Islands and Beyond: Travels in Eastern Indonesia</i>. New York: Oxford University Press. pp. xv. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/967-65-3099-9" title="Special:BookSources/967-65-3099-9"><bdi>967-65-3099-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=To+The+Spice+Islands+and+Beyond%3A+Travels+in+Eastern+Indonesia&rft.place=New+York&rft.pages=xv&rft.pub=Oxford+University+Press&rft.date=1996&rft.isbn=967-65-3099-9&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFVan_Boven" class="citation web cs1">Van Boven, M. W. <a rel="nofollow" class="external text" href="http://portal.unesco.org/ci/en/files/22635/11546101681netherlands_voc_archives.doc/netherlands%2Bvoc%2Barchives.doc">"Towards A New Age of Partnership (TANAP): An Ambitious World Heritage Project (UNESCO Memory of the World – reg.form, 2002)"</a>. <i>VOC Archives Appendix 2, p.14</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=VOC+Archives+Appendix+2%2C+p.14&rft.atitle=Towards+A+New+Age+of+Partnership+%28TANAP%29%3A+An+Ambitious+World+Heritage+Project+%28UNESCO+Memory+of+the+World+%E2%80%93+reg.form%2C+2002%29&rft.aulast=Van+Boven&rft.aufirst=M.+W.&rft_id=http%3A%2F%2Fportal.unesco.org%2Fci%2Fen%2Ffiles%2F22635%2F11546101681netherlands_voc_archives.doc%2Fnetherlands%252Bvoc%252Barchives.doc&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text">Vickers (2005), p. 10</span> </li> <li id="cite_note-RICKLEFSp110-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-RICKLEFSp110_11-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRicklefs1991" class="citation book cs1">Ricklefs, M.C. 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Retrieved <span class="nowrap">29 August</span> 2011</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=IMF+Survey%3A+Indonesia%27s+Choice+of+Policy+Mix+Critical+to+Ongoing+Growth&rft.pub=Imf.org&rft.date=2009-07-28&rft_id=http%3A%2F%2Fwww.imf.org%2Fexternal%2Fpubs%2Fft%2Fsurvey%2Fso%2F2009%2Fcar072809b.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-ref2013022803-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-ref2013022803_42-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20130305041946/http://investvine.com/vice-president-indonesia-will-move-on/">"Vice President: Indonesia will move on"</a>. Investvine.com. 28 February 2013. Archived from <a rel="nofollow" class="external text" href="http://investvine.com/vice-president-indonesia-will-move-on/">the original</a> on 5 March 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">3 April</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=Vice+President%3A+Indonesia+will+move+on&rft.date=2013-02-28&rft_id=http%3A%2F%2Finvestvine.com%2Fvice-president-indonesia-will-move-on%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAkhlas,_Adrian_Wail2020" class="citation web cs1">Akhlas, Adrian Wail (5 November 2020). <a rel="nofollow" class="external text" href="https://www.thejakartapost.com/news/2020/11/05/breaking-indonesia-enters-first-recession-since-1998-on-3-49-q3-contraction.html">"Breaking: Indonesia enters first recession since 1998 on 3.49% Q3 contraction"</a>. The Jakarta Post. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20201105121924/https://www.thejakartapost.com/news/2020/11/05/breaking-indonesia-enters-first-recession-since-1998-on-3-49-q3-contraction.html">Archived</a> from the original on 5 November 2020<span class="reference-accessdate">. Retrieved <span class="nowrap">5 November</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Breaking%3A+Indonesia+enters+first+recession+since+1998+on+3.49%25+Q3+contraction&rft.pub=The+Jakarta+Post&rft.date=2020-11-05&rft.au=Akhlas%2C+Adrian+Wail&rft_id=https%3A%2F%2Fwww.thejakartapost.com%2Fnews%2F2020%2F11%2F05%2Fbreaking-indonesia-enters-first-recession-since-1998-on-3-49-q3-contraction.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconomic+history+of+Indonesia" class="Z3988"></span></span> </li> </ol></div></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output 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href="mw-data:TemplateStyles:r886047488"></div><div role="navigation" class="navbox" aria-labelledby="Indonesia_articles" style="padding:3px"><table class="nowraplinks hlist mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Indonesia_topics" title="Template:Indonesia topics"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Indonesia_topics" title="Template talk:Indonesia topics"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Indonesia_topics" title="Special:EditPage/Template:Indonesia topics"><abbr 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Islam</a></li> <li><a href="/wiki/Portuguese_Empire_in_the_Indonesian_Archipelago" title="Portuguese Empire in the Indonesian Archipelago">Portuguese era (1512–1605)</a></li> <li><a href="/wiki/Company_rule_in_the_Dutch_East_Indies" title="Company rule in the Dutch East Indies">VOC era (1603–1800)</a></li> <li><a href="/wiki/French_and_British_interregnum_in_the_Dutch_East_Indies" title="French and British interregnum in the Dutch East Indies">French and British era (1806–1816)</a></li> <li><a href="/wiki/Dutch_East_Indies" title="Dutch East Indies">Dutch East Indies (1800–1942)</a></li> <li><a href="/wiki/Japanese_occupation_of_the_Dutch_East_Indies" title="Japanese occupation of the Dutch East Indies">Japanese occupation (1942–45)</a></li> <li><a href="/wiki/Indonesian_National_Revolution" title="Indonesian National Revolution">National Revolution (1945–49)</a></li> <li><a href="/wiki/Liberal_democracy_period_in_Indonesia" title="Liberal democracy period in Indonesia">Liberal democracy era (1950–59)</a></li> <li><a href="/wiki/Guided_Democracy_in_Indonesia" title="Guided Democracy in Indonesia">Guided Democracy (1959–65)</a></li> <li><a href="/wiki/Transition_to_the_New_Order" title="Transition to the New Order">Transitional period (1965–66)</a></li> <li><a href="/wiki/New_Order_(Indonesia)" title="New Order (Indonesia)">New Order (1966–98)</a></li> <li><a href="/wiki/Post-Suharto_era_in_Indonesia" title="Post-Suharto era in Indonesia"><i>Reformasi</i> (since 1998)</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Geography_of_Indonesia" title="Geography of Indonesia">Geography</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Category:Borders_of_Indonesia" title="Category:Borders of Indonesia">Borders</a></li> <li><a href="/wiki/Climate_of_Indonesia" title="Climate of Indonesia">Climate</a> <ul><li><a href="/wiki/Climate_change_in_Indonesia" title="Climate change in Indonesia">Climate change</a></li></ul></li> <li><a href="/wiki/Conservation_in_Indonesia" title="Conservation in Indonesia">Conservation</a> <ul><li><a href="/wiki/List_of_biosphere_reserves_of_Indonesia" title="List of biosphere reserves of Indonesia">Biosphere reserves</a></li> <li><a href="/wiki/List_of_national_parks_of_Indonesia" title="List of national parks of Indonesia">National parks</a></li></ul></li> <li><a href="/wiki/Deforestation_in_Indonesia" title="Deforestation in Indonesia">Deforestation</a></li> <li><a href="/wiki/List_of_earthquakes_in_Indonesia" title="List of earthquakes in Indonesia">Earthquakes</a></li> <li><a href="/wiki/Environmental_issues_in_Indonesia" title="Environmental issues in Indonesia">Environmental issues</a></li> <li><a href="/wiki/Geology_of_Indonesia" title="Geology of Indonesia">Geology</a></li> <li><a href="/wiki/List_of_islands_of_Indonesia" title="List of islands of Indonesia">Islands</a></li> <li><a href="/wiki/List_of_lakes_of_Indonesia" title="List of lakes of Indonesia">Lakes</a></li> <li><a href="/wiki/Category:Mountains_of_Indonesia" title="Category:Mountains of Indonesia">Mountains</a></li> <li><a href="/wiki/List_of_Indonesian_provinces_by_highest_point" title="List of Indonesian provinces by highest point">Provincial highest points</a></li> <li><a href="/wiki/Category:Natural_history_of_Indonesia" title="Category:Natural history of Indonesia">Natural history</a> <ul><li><a href="/wiki/Fauna_of_Indonesia" title="Fauna of Indonesia">Fauna</a></li> <li><a href="/wiki/Flora_of_Indonesia" title="Flora of Indonesia">Flora</a></li></ul></li> <li><a href="/wiki/Regions_of_Indonesia" title="Regions of Indonesia">Regions</a></li> <li><a href="/wiki/List_of_rivers_of_Indonesia" title="List of rivers of Indonesia">Rivers</a></li> <li><a href="/wiki/List_of_volcanoes_in_Indonesia" title="List of volcanoes in Indonesia">Volcanoes</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Politics_of_Indonesia" title="Politics of Indonesia">Politics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Subdivisions_of_Indonesia" title="Subdivisions of Indonesia">Administrative divisions</a> <ul><li><a href="/wiki/Administrative_divisions_of_the_Dutch_East_Indies" title="Administrative divisions of the Dutch East Indies">Historical</a></li> <li><a href="/wiki/Provinces_of_Indonesia" title="Provinces of Indonesia">Provinces</a></li> <li><a href="/wiki/List_of_regencies_and_cities_of_Indonesia" class="mw-redirect" title="List of regencies and cities of Indonesia">Regencies & Cities</a></li> <li><a href="/wiki/Districts_of_Indonesia" title="Districts of Indonesia">Districts</a></li></ul></li> <li><a href="/wiki/Cabinet_of_Indonesia" title="Cabinet of Indonesia">Cabinet</a></li> <li><a href="/wiki/Constitution_of_Indonesia" title="Constitution of Indonesia">Constitution</a></li> <li><a href="/wiki/Elections_in_Indonesia" title="Elections in Indonesia">Elections</a></li> <li><a href="/wiki/Foreign_relations_of_Indonesia" title="Foreign relations of Indonesia">Foreign relations</a></li> <li><a href="/wiki/Human_rights_in_Indonesia" title="Human rights in Indonesia">Human rights</a></li> <li><a href="/wiki/Law_of_Indonesia" title="Law of Indonesia">Law</a> <ul><li><a href="/wiki/Censorship_in_Indonesia" title="Censorship in Indonesia">Censorship</a></li> <li><a href="/wiki/Law_enforcement_in_Indonesia" title="Law enforcement in Indonesia">Enforcement</a></li></ul></li> <li><a href="/wiki/Indonesian_National_Armed_Forces" title="Indonesian National Armed Forces">Military</a> (<a href="/wiki/Babinsa" title="Babinsa">Babinsa</a>)</li> <li><a href="/wiki/Capital_of_Indonesia" title="Capital of Indonesia">National capital</a></li> <li><i><a href="/wiki/Pancasila_(politics)" title="Pancasila (politics)">Pancasila</a></i></li> <li><a href="/wiki/People%27s_Consultative_Assembly" title="People's Consultative Assembly">People's Consultative Assembly</a></li> <li><a href="/wiki/Indonesian_National_Police" title="Indonesian National Police">Police</a></li> <li><a href="/wiki/List_of_political_parties_in_Indonesia" title="List of political parties in Indonesia">Political parties</a></li> <li><a href="/wiki/President_of_Indonesia" title="President of Indonesia">President</a> (<a href="/wiki/List_of_presidents_of_Indonesia" title="List of presidents of Indonesia">List</a>)</li> <li><i><a href="/wiki/Wawasan_Nusantara" title="Wawasan Nusantara">Wawasan Nusantara</a></i></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Economy_of_Indonesia" title="Economy of Indonesia">Economy</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_Indonesia" title="Agriculture in Indonesia">Agriculture</a></li> <li><a href="/wiki/Automotive_industry_in_Indonesia" title="Automotive industry in Indonesia">Automotive</a></li> <li><a href="/wiki/Aviation_in_Indonesia" title="Aviation in Indonesia">Aviation</a></li> <li><a href="/wiki/List_of_banks_in_Indonesia" title="List of banks in Indonesia">Banks</a></li> <li><a href="/wiki/Energy_in_Indonesia" title="Energy in Indonesia">Energy</a></li> <li><a class="mw-selflink selflink">History</a></li> <li><a href="/wiki/Science_and_technology_in_Indonesia" title="Science and technology in Indonesia">Science and technology</a></li> <li><a href="/wiki/Indonesia_Stock_Exchange" title="Indonesia Stock Exchange">Stock Exchange</a></li> <li><a href="/wiki/Communications_in_Indonesia" title="Communications in Indonesia">Telecommunications</a></li> <li><a href="/wiki/Tourism_in_Indonesia" title="Tourism in Indonesia">Tourism</a></li> <li><a href="/wiki/Transport_in_Indonesia" title="Transport in Indonesia">Transport</a></li> <li><a href="/wiki/Water_supply_and_sanitation_in_Indonesia" title="Water supply and sanitation in Indonesia">Water supply and sanitation</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Category:Society_of_Indonesia" title="Category:Society of Indonesia">Society</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><td colspan="2" class="navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Abortion_in_Indonesia" class="mw-redirect" title="Abortion in Indonesia">Abortion</a></li> <li><a href="/wiki/Crime_in_Indonesia" title="Crime in Indonesia">Crime</a></li> <li><a href="/wiki/Human_trafficking_in_Indonesia" title="Human trafficking in Indonesia">Human trafficking</a></li> <li><a href="/wiki/Piracy_in_Indonesia" title="Piracy in Indonesia">Piracy</a></li> <li><a href="/wiki/Prostitution_in_Indonesia" title="Prostitution in Indonesia">Prostitution</a></li> <li><a href="/wiki/Smoking_in_Indonesia" title="Smoking in Indonesia">Smoking</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Culture_of_Indonesia" title="Culture of Indonesia">Culture</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Architecture_of_Indonesia" title="Architecture of Indonesia">Architecture</a> <ul><li><a href="/wiki/Candi_of_Indonesia" title="Candi of Indonesia">Candi</a></li> <li><a href="/wiki/Colonial_architecture_of_Indonesia" title="Colonial architecture of Indonesia">Colonial</a></li> <li><a href="/wiki/Mosque_architecture_in_Indonesia" title="Mosque architecture in Indonesia">Mosques</a></li> <li><i><a href="/wiki/Rumah_adat" title="Rumah adat">Rumah adat</a></i></li></ul></li> <li><a href="/wiki/Indonesian_art" title="Indonesian art">Art</a></li> <li><a href="/wiki/Batik_in_Indonesia" title="Batik in Indonesia">Batik</a></li> <li><a href="/wiki/Cinema_of_Indonesia" title="Cinema of Indonesia">Cinema</a></li> <li><a href="/wiki/National_costume_of_Indonesia" title="National costume of Indonesia">Costume</a></li> <li><a href="/wiki/Indonesian_cuisine" title="Indonesian cuisine">Cuisine</a></li> <li><a href="/wiki/Dance_in_Indonesia" title="Dance in Indonesia">Dance</a></li> <li><a href="/wiki/List_of_festivals_in_Indonesia" title="List of festivals in Indonesia">Festivals</a></li> <li><a href="/wiki/Folklore_of_Indonesia" title="Folklore of Indonesia">Legends</a></li> <li><a href="/wiki/Indonesian_literature" title="Indonesian literature">Literature</a></li> <li><a href="/wiki/Indonesian_martial_arts" title="Indonesian martial arts">Martial arts</a></li> <li><a href="/wiki/Mass_media_in_Indonesia" title="Mass media in Indonesia">Media</a></li> <li><a href="/wiki/Music_of_Indonesia" title="Music of Indonesia">Music</a></li> <li><a href="/wiki/Mythology_of_Indonesia" title="Mythology of Indonesia">Mythology</a></li> <li><a href="/wiki/National_Hero_of_Indonesia" title="National Hero of Indonesia">National heroes</a></li> <li><a href="/wiki/Indonesian_painting" title="Indonesian painting">Painting</a></li> <li><a href="/wiki/Cultural_properties_of_Indonesia" title="Cultural properties of Indonesia">Properties</a></li> <li><a href="/wiki/Public_holidays_in_Indonesia" title="Public holidays in Indonesia">Public holidays</a></li> <li><a href="/wiki/Sport_in_Indonesia" title="Sport in Indonesia">Sport</a></li> <li><a href="/wiki/Theatre_of_Indonesia" title="Theatre of Indonesia">Theatre</a></li> <li><a href="/wiki/Video_games_in_Indonesia" title="Video games in Indonesia">Video games</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/Demographics_of_Indonesia" title="Demographics of Indonesia">Demographics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Education_in_Indonesia" title="Education in Indonesia">Education</a></li> <li><a href="/wiki/Ethnic_groups_in_Indonesia" title="Ethnic groups in Indonesia">Ethnic groups</a></li> <li><a href="/wiki/Health_in_Indonesia" title="Health in Indonesia">Health</a> <ul><li><a href="/wiki/Healthcare_in_Indonesia" title="Healthcare in Indonesia">Healthcare</a></li></ul></li> <li><a href="/wiki/Homelessness_in_Indonesia" title="Homelessness in Indonesia">Homelessness</a></li> <li><a href="/wiki/Languages_of_Indonesia" title="Languages of Indonesia">Languages</a></li> <li><a href="/wiki/Religion_in_Indonesia" title="Religion in Indonesia">Religion</a></li> <li><a href="/wiki/Refugees_in_Indonesia" title="Refugees in Indonesia">Refugees</a></li> <li><a href="/wiki/Women_in_Indonesia" title="Women in Indonesia">Women</a></li> <li><a href="/wiki/LGBT_rights_in_Indonesia" class="mw-redirect" title="LGBT rights in Indonesia">LGBT rights</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;padding-left:0.5em;padding-right:0.5em;font-weight:normal;"><a href="/wiki/National_symbols_of_Indonesia" title="National symbols of Indonesia">Symbols</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Indonesia_Raya" title="Indonesia Raya">Anthem</a></li> <li><a href="/wiki/National_costume_of_Indonesia" title="National costume of Indonesia">Costume</a></li> <li><a href="/wiki/National_emblem_of_Indonesia" title="National emblem of Indonesia">Emblem</a> <ul><li><a href="/wiki/Armorial_of_Indonesia" title="Armorial of Indonesia">Historical</a></li> <li><a href="/wiki/Armorial_of_Indonesia" title="Armorial of Indonesia">Subdivision</a></li></ul></li> <li><a href="/wiki/List_of_Indonesian_faunal_emblems" title="List of Indonesian faunal emblems">Faunal emblems</a></li> <li><a href="/wiki/Flag_of_Indonesia" title="Flag of Indonesia">Flag</a> <ul><li><a href="/wiki/List_of_flags_of_Indonesia" class="mw-redirect" title="List of flags of Indonesia">Subdivision</a></li></ul></li> <li><a href="/wiki/List_of_Indonesian_floral_emblems" title="List of Indonesian floral emblems">Floral emblems</a></li> <li><a href="/wiki/Bhinneka_Tunggal_Ika" title="Bhinneka Tunggal Ika">Motto</a></li> <li><a href="/wiki/Nusantara_(archipelago)" class="mw-redirect" title="Nusantara (archipelago)">Nusantara</a></li> <li><a href="/wiki/Ibu_Pertiwi" title="Ibu Pertiwi">Personification</a></li> <li><a href="/wiki/Category:Indonesian_songs" title="Category:Indonesian songs">Songs</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><td class="navbox-abovebelow" colspan="2" style="font-weight:bold;"><div><div style="margin-bottom:-0.4em;"><ul><li><span 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style="padding:3px"><table class="nowraplinks mw-collapsible autocollapse navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Asia_topic" title="Template:Asia topic"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Asia_topic" title="Template talk:Asia topic"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Asia_topic" title="Special:EditPage/Template:Asia topic"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economic_history_of_Asia" style="font-size:114%;margin:0 4em"><a href="/wiki/Economic_history_of_Asia" class="mw-redirect" title="Economic history of Asia">Economic history of Asia </a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_sovereign_states" title="List of sovereign states">Sovereign states</a></th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economic_history_of_Afghanistan" class="mw-redirect" title="Economic history of Afghanistan">Afghanistan</a></li> <li><a href="/wiki/Economic_history_of_Armenia" class="mw-redirect" title="Economic history of Armenia">Armenia</a></li> <li><a href="/wiki/Economic_history_of_Azerbaijan" title="Economic history of Azerbaijan">Azerbaijan</a></li> <li><a href="/w/index.php?title=Economic_history_of_Bahrain&action=edit&redlink=1" class="new" title="Economic history of Bahrain (page does not exist)">Bahrain</a></li> <li><a href="/wiki/Economic_history_of_Bangladesh" class="mw-redirect" title="Economic history of Bangladesh">Bangladesh</a></li> <li><a href="/w/index.php?title=Economic_history_of_Bhutan&action=edit&redlink=1" class="new" title="Economic history of Bhutan (page does not exist)">Bhutan</a></li> <li><a href="/w/index.php?title=Economic_history_of_Brunei&action=edit&redlink=1" class="new" title="Economic history of Brunei (page does not exist)">Brunei</a></li> <li><a href="/wiki/Economic_history_of_Cambodia" title="Economic history of Cambodia">Cambodia</a></li> <li><a href="/wiki/Economic_history_of_China" title="Economic history of China">China</a></li> <li><a href="/w/index.php?title=Economic_history_of_Cyprus&action=edit&redlink=1" class="new" title="Economic history of Cyprus (page does not exist)">Cyprus</a></li> <li><a href="/wiki/Economic_history_of_East_Timor" class="mw-redirect" title="Economic history of East Timor">East Timor (Timor-Leste)</a></li> <li><a href="/wiki/Economic_history_of_Egypt" class="mw-redirect" title="Economic history of Egypt">Egypt</a></li> <li><a href="/wiki/Economic_history_of_Georgia_(country)" class="mw-redirect" title="Economic history of Georgia (country)">Georgia</a></li> <li><a href="/wiki/Economic_history_of_India" title="Economic history of India">India</a></li> <li><a class="mw-selflink selflink">Indonesia</a></li> <li><a href="/wiki/Economic_history_of_Iran" title="Economic history of Iran">Iran</a></li> <li><a href="/wiki/Economic_history_of_Iraq" class="mw-redirect" title="Economic history of Iraq">Iraq</a></li> <li><a href="/wiki/Economic_history_of_Israel" class="mw-redirect" title="Economic history of Israel">Israel</a></li> <li><a href="/wiki/Economic_history_of_Japan" title="Economic history of Japan">Japan</a></li> <li><a href="/w/index.php?title=Economic_history_of_Jordan&action=edit&redlink=1" class="new" title="Economic history of Jordan (page does not exist)">Jordan</a></li> <li><a href="/w/index.php?title=Economic_history_of_Kazakhstan&action=edit&redlink=1" class="new" title="Economic history of Kazakhstan (page does not exist)">Kazakhstan</a></li> <li><a href="/wiki/Economic_history_of_North_Korea" class="mw-redirect" title="Economic history of North Korea">North Korea</a></li> <li><a href="/wiki/Economic_history_of_South_Korea" class="mw-redirect" title="Economic history of South Korea">South Korea</a></li> <li><a href="/w/index.php?title=Economic_history_of_Kuwait&action=edit&redlink=1" class="new" title="Economic history of Kuwait (page does not exist)">Kuwait</a></li> <li><a href="/w/index.php?title=Economic_history_of_Kyrgyzstan&action=edit&redlink=1" class="new" title="Economic history of Kyrgyzstan (page does not exist)">Kyrgyzstan</a></li> <li><a href="/wiki/Economic_history_of_Laos" class="mw-redirect" title="Economic history of Laos">Laos</a></li> <li><a href="/wiki/Economic_history_of_Lebanon" class="mw-redirect" title="Economic history of Lebanon">Lebanon</a></li> <li><a href="/wiki/Economic_history_of_Malaysia" title="Economic history of Malaysia">Malaysia</a></li> <li><a href="/w/index.php?title=Economic_history_of_the_Maldives&action=edit&redlink=1" class="new" title="Economic history of the Maldives (page does not exist)">Maldives</a></li> <li><a href="/wiki/Economic_history_of_Mongolia" class="mw-redirect" title="Economic history of Mongolia">Mongolia</a></li> <li><a href="/wiki/Economic_history_of_Myanmar" class="mw-redirect" title="Economic history of Myanmar">Myanmar</a></li> <li><a href="/w/index.php?title=Economic_history_of_Nepal&action=edit&redlink=1" class="new" title="Economic history of Nepal (page does not exist)">Nepal</a></li> <li><a href="/w/index.php?title=Economic_history_of_Oman&action=edit&redlink=1" class="new" title="Economic history of Oman (page does not exist)">Oman</a></li> <li><a href="/wiki/Economic_history_of_Pakistan" title="Economic history of Pakistan">Pakistan</a></li> <li><a href="/wiki/Economic_history_of_the_Philippines" title="Economic history of the Philippines">Philippines</a></li> <li><a href="/w/index.php?title=Economic_history_of_Qatar&action=edit&redlink=1" class="new" title="Economic history of Qatar (page does not exist)">Qatar</a></li> <li><a href="/wiki/Economic_history_of_Russia" class="mw-redirect" title="Economic history of Russia">Russia</a></li> <li><a href="/wiki/Economic_history_of_Saudi_Arabia" class="mw-redirect" title="Economic history of Saudi Arabia">Saudi Arabia</a></li> <li><a href="/wiki/Economic_history_of_Singapore" class="mw-redirect" title="Economic history of Singapore">Singapore</a></li> <li><a href="/wiki/Economic_history_of_Sri_Lanka" class="mw-redirect" title="Economic history of Sri Lanka">Sri Lanka</a></li> <li><a href="/wiki/Economic_history_of_Syria" class="mw-redirect" title="Economic history of Syria">Syria</a></li> <li><a href="/wiki/Economic_history_of_Tajikistan" class="mw-redirect" title="Economic history of Tajikistan">Tajikistan</a></li> <li><a href="/wiki/Economic_history_of_Thailand" class="mw-redirect" title="Economic history of Thailand">Thailand</a></li> <li><a href="/wiki/Economic_history_of_Turkey" title="Economic history of Turkey">Turkey</a></li> <li><a href="/wiki/Economic_history_of_Turkmenistan" class="mw-redirect" title="Economic history of Turkmenistan">Turkmenistan</a></li> <li><a href="/wiki/Economic_history_of_the_United_Arab_Emirates" class="mw-redirect" title="Economic history of the United Arab Emirates">United Arab Emirates</a></li> <li><a href="/w/index.php?title=Economic_history_of_Uzbekistan&action=edit&redlink=1" class="new" title="Economic history of Uzbekistan (page does not exist)">Uzbekistan</a></li> <li><a href="/wiki/Economic_history_of_Vietnam" title="Economic history of Vietnam">Vietnam</a></li> <li><a href="/w/index.php?title=Economic_history_of_Yemen&action=edit&redlink=1" class="new" title="Economic history of Yemen (page does not exist)">Yemen</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/List_of_states_with_limited_recognition" title="List of states with limited recognition">States with<br />limited recognition</a></th><td class="navbox-list-with-group navbox-list navbox-even hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Economic_history_of_Abkhazia&action=edit&redlink=1" class="new" title="Economic history of Abkhazia (page does not exist)">Abkhazia</a></li> <li><a href="/w/index.php?title=Economic_history_of_Northern_Cyprus&action=edit&redlink=1" class="new" title="Economic history of Northern Cyprus (page does not exist)">Northern Cyprus</a></li> <li><a href="/wiki/Economic_history_of_the_State_of_Palestine" class="mw-redirect" title="Economic history of the State of Palestine">Palestine</a></li> <li><a href="/w/index.php?title=Economic_history_of_South_Ossetia&action=edit&redlink=1" class="new" title="Economic history of South Ossetia (page does not exist)">South Ossetia</a></li> <li><a href="/wiki/Economic_history_of_Taiwan" title="Economic history of Taiwan">Taiwan</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Dependent_territory" title="Dependent territory">Dependencies</a> and<br />other territories</th><td class="navbox-list-with-group navbox-list navbox-odd hlist" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/w/index.php?title=Economic_history_of_the_British_Indian_Ocean_Territory&action=edit&redlink=1" class="new" title="Economic history of the British Indian Ocean Territory (page does not exist)">British Indian Ocean Territory</a></li> <li><a href="/w/index.php?title=Economic_history_of_Christmas_Island&action=edit&redlink=1" class="new" title="Economic history of Christmas Island (page does not exist)">Christmas Island</a></li> <li><a href="/w/index.php?title=Economic_history_of_the_Cocos_(Keeling)_Islands&action=edit&redlink=1" class="new" title="Economic history of the Cocos (Keeling) Islands (page does not exist)">Cocos (Keeling) Islands</a></li> <li><a href="/w/index.php?title=Economic_history_of_Hong_Kong&action=edit&redlink=1" class="new" title="Economic history of Hong Kong (page does not exist)">Hong Kong</a></li> <li><a href="/wiki/Economic_history_of_Macau" class="mw-redirect" title="Economic history of Macau">Macau</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow hlist" colspan="2"><div> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" 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