Downstream Industry and Paradox of Competitiveness
Indonesia has long had the opportunity to become a big country. However, its power to execute and implement policies always has been the problem.
A Prasetyantoko
Indonesia's 2022 economic growth of 5.31 percent is better than many estimates. Export growth in the past year of 16.28 percent became the main driver of the economy’s performance. Meanwhile, household consumption grew only 4.93 percent, while investment grew 3.87 percent.
Although this economic growth rate is remarkable, it has tended to fluctuate with the rise and fall of prices as well as demand for export commodities on the global market. Our exports are still dominated by two main commodities, namely coal and palm oil. The prices and demand for these two commodities are very volatile (commodities super-cycle).