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HIGH ECONOMIC GROWTH REVIVES MANUFACTURING INDUSTRY

Posted by Unknown Monday, January 9, 2012 0 comments
Indonesia's EconomyIndonesia's economy has expanded by an annual growth of more than 6% in the past five years. A slower growth was recorded only in 2009 amid the global financial crisis devastating. In 2010, the country's economic growth rose again to 6.1% and in 2011, it grew further by 6.5%.Indonesia was one of a few countries that could weather the global crisis that struck in 2008 the impact of the crisis has continued to until today shook the major economies.The healthy economic growth has improved the people's purchasing power marked with growing per capita GDP that reached U.S. $ 3,000 in 2011 and up again to U.S. $ 3,542.9. The growing per capita GDP Contributed to creating a strong domestic market that serves as a driver for the country's economic growth.Strong domestic market will in turn pushed the revival of other sectors such as the manufacturing industry that could attract and would give greater confidence to investors. Strong and big market would encourage development of industries.Household consumption remains strongThere has been doubt that Indonesia would continue to chalk up a healthy economic growth by relying too much on domestic consumption. Household consumption has Contributed more than 50% to the country's GDP growth. In 2008, household consumption accounted for 60.6% of the components that made up the country's GDP. In the following years, the percentage declined but still higher than 50%. In 2011, it was 54.6%.The contribution of the household consumption to the country's GDP has continued to increase of in the past six years despite the global financial crisis. Even when other GDP components such as exports and imports shrank in 2009, household consumption continued to grow.

The country's economy was feared to Suffer a setback without the support from the manufacturing industry. Support from the manufacturing sector, large roomates could provide jobs, would be needed as it would Contribute to consumption growth.The regional monetary crisis in 1998, served a big blow to the country's manufacturing sector that needed long years to recover. The sector has grown sluggishly with growth rate below the country's economic growth rate. The manufacturing sector had failed to attract investors Because of a number of factors Including poor condition and inadequate availability of infrastructure. The domestic manufactured products, therefore, could not Compete well in the market facing imported products. There were growing fears of deindustrialization Because of the decline in the support of the sector to the GDP. Meanwhile, the factory machines were getting older and no longer efficient as there was little new investment for modernization of outdated factories.

 
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Judul: HIGH ECONOMIC GROWTH REVIVES MANUFACTURING INDUSTRY
Ditulis oleh Unknown
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