COMPREHENSIVE WEALTH REPORT Indonesia

The report analyzes Indonesia's Comprehensive Wealth Index (CWI), which grew by an average of 4.3% annually between 1995 and 2020, driven primarily by human and produced capital. However, real per capita GDP grew more slowly at 2.8%, indicating a declining rate of return on wealth from 6.8% in 1995 to 4.8% in 2020. The study highlights inefficiencies in natural resource management and a lack of investment in renewable energy, suggesting that better asset management could have pushed Indonesia into the World Bank's upper-middle-income category by 2020.

• Indonesia's Comprehensive Wealth Index (CWI) nearly tripled between 1995 and 2020, rising from IDR 404.3 million (USD 86,100) to IDR 1,130 million (USD 240,750) per capita, representing an average annual growth rate of 4.3%.
• The growth of comprehensive wealth has outpaced GDP growth, with real per capita GDP growing at an average annual rate of 2.8% compared to the CWI's 4.3%. This indicates a decline in the rate of return on wealth from 6.8% in 1995 to 4.8% in 2020.
• Human capital is the largest component of Indonesia's wealth portfolio, increasing from IDR 315.8 million (USD 67,260) in 1995 to IDR 895.4 million (USD 190,690) in 2020, though it experienced a dip from 1997 to 2000 due to the Asian financial crisis.
• Produced capital grew by an average of 5.3% annually from 1990 to 2020, but investments are heavily skewed toward buildings, which accounted for 74% of produced capital in 2020, while machinery and equipment contributed only 10%.
• Indonesia's market natural capital grew by an average of 2.2% annually from 1990 to 2020. The composition shifted from renewable resources in 1990 to a higher share of non-renewables during the commodity boom, peaking at 55% in 2010.
• Indonesia is underperforming in the economic extraction of its natural resources compared to peers; for example, Malaysia generates approximately six times more wealth for every tree harvested than Indonesia.
• Financial capital has remained consistently negative from 2001 to 2020, as foreign financial liabilities have exceeded foreign financial assets, with assets averaging around 40% of liabilities.
• Non-market natural capital is facing threats from climate change, evidenced by rising average temperatures and increased precipitation, which may lead to more frequent floods and coral bleaching.
• Social capital shows positive trends in communal participation and tolerance, though there are contradictory findings regarding trust in others and a high level of objection to interfaith marriage.

APA

Halimatussadiah, A., Moeis, F., Lufti, R. E. G., Adriansyah, M., Nandita, P., Kurniawan, R., Zoundi, Z., Bizikova, L., & Smith, R. (2024). COMPREHENSIVE WEALTH REPORT Indonesia. International Institute for Sustainable Development. https://www.iisd.org/system/files/2024-05/comprehensive-wealth-indonesia.pdf

Chicago

Halimatussadiah, Alin, Faizal Moeis, Roes Ebara Gikami Lufti, Muhammad Adriansyah, Priskila Nandita, Robi Kurniawan, Zakaria Zoundi, Livia Bizikova, and Robert Smith. COMPREHENSIVE WEALTH REPORT Indonesia. International Institute for Sustainable Development, 2024. https://www.iisd.org/system/files/2024-05/comprehensive-wealth-indonesia.pdf.

Wikipedia

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BibTeX

@techreport{halimatussadiah2024comprehensive, author = {Halimatussadiah, Alin and Moeis, Faizal and Lufti, Roes Ebara Gikami and Adriansyah, Muhammad and Nandita, Priskila and Kurniawan, Robi and Zoundi, Zakaria and Bizikova, Livia and Smith, Robert}, title = {{COMPREHENSIVE WEALTH REPORT Indonesia}}, institution = {International Institute for Sustainable Development}, year = {2024}, month = apr, url = {https://www.iisd.org/system/files/2024-05/comprehensive-wealth-indonesia.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }