Despite the rich natural resources, an export-oriented agriculture and diversified industrial base, the country has experienced in the last decades a severe economic crisis and extremely high indebtedness, with a default declared in 2001. The crisis brings to a high intervention of the government into the economy, with nationalization, import restrictions and currency controls. In the recent years the country has started a process of economic liberalization, with less capital and trade controls from the government.
Indonesia has the largest economy in Southeast Asia and is one of the emerging market economies of the world. The country is also a member of G-20 major economies and classified as a newly industrialized country. Its GDP per capita however ranks below the world average. To attract more foreign investment, the government is upgrading power and other infrastructure. Indonesia made starting a business easier in 2016 by abolishing the minimum capital requirements for small and medium-size businesses and enacting other reforms.