Estimating Indonesia’s State-Owned Enterprises’ Value-Added to the Indonesian Economy

State-owned enterprises (SOEs) play a relatively limited yet stable role in Indonesia’s economy, contributing 6–8% to nominal GDP between 2010 and 2022, with assets concentrated among a small number of large firms. In 2022, their contribution reached 6.1%, mainly driven by mining, financial services, and electricity, although their overall impact on growth remained modest. Comparative analysis using firm-level data indicates that the income method produces the most consistent GDP estimates, providing a robust empirical foundation for policymaking and highlighting opportunities to further enhance SOE productivity and measurement accuracy going forward.

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