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Abstract

This paper discusses Indonesia's macroeconomic and trade development in the first quarter of 2018. The macroeconomic data shows that the industrial growth was inhibited by regulatory regime inconsistency, while consumption growth still lagged overall GDP growth, and investment growth tended to rise. The trade data shows that the non-oil-and-gas commodities dominated its export, although the commodities terms-of-trade declined. Indonesia's imports were mostly used as raw and auxiliary materials for the input of domestic production. The data also reveals that the larger the firms, the stronger tendency that they have comparative advantage in capital-intensive commodities, and vice versa.

References

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Bahasa Abstract

Artikel ini membahas perkembangan makroekonomi dan perdagangan Indonesia pada kuartal pertama tahun 2018. Data makroekonomi menunjukkan bahwa pertumbuhan industri pengolahan terhambat oleh inkonsistensi peraturan, sementara pertumbuhan konsumsi masih tertinggal dari pertumbuhan PDB secara keseluruhan, dan tren pertumbuhan investasi meningkat. Data perdagangan internasional menunjukkan bahwa komoditas non-migas mendominasi ekspor, meskipun nilai tukar perdagangan komoditasnya cenderung menurun. Impor Indonesia sebagian besar digunakan sebagai bahan baku dan bahan penolong untuk input produksi domestik. Data perdagangan juga menunjukkan bahwa semakin besar ukuran perusahaan, semakin kuat kecenderungan bahwa mereka memiliki keunggulan komparatif dalam komoditas padat modal, dan sebaliknya semakin kecil ukuran perusahaan semakin kuat kecenderungan untuk tidak memiliki keunggulan komparatif pada komoditas padat modal.

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