Indonesia s An International Market Essay - 2997 Words

1 Indonesia contribution to international market Goods and services produced in a country and being sold outside is globally known as export (Mankiw, 2004:240). Suppose that a country do an International Trade and become an exporter of some goods, domestic producers will get more benefits, while local consumers will get loss because the local price is higher. However, government policy about the opening of international trade itself will be profitable for both concerned countries (Mankiw, 2006:221).For Indonesia, the activities of the export has been encouraged since 1983. In the same year, export was getting more attention in order to spur Indonesia economy growth. Indonesia slowly changes its strategy of industrialization, from the emphasis on import substitution industries to export promotion industries. Along with this new policy, the economy of Indonesia is getting better. It was proven in 2008 that the cumulative value of export reached USD 118,430million, in other words it increased by 26.92 percent, while for non oil and na tural gas sector reached USD 92,260million or increased by 21.63 percent. The other sector, for instance agricultural, industry, and mining had also increased, each by 34.65 percent, 21.04 percent, and 21.57 percent compared to the previous year. For the goods that Indonesia exports, there are 10 types of which contributes 58.8 percent to the total of non oil and natural gas export. They are vegetable animal oil and fat, mineral fuels, machine orShow MoreRelatedChina s World s Elite Currency1305 Words   |  6 Pages On Monday, November 31, 2015, The International Monetary Fund has approved China s yuan into its elite reserve currency. As this decision announced, it will impact China’s economy. 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