Last updated January 2007
Duncan Thomas; Elizabeth Frankenberg
After almost three decades of sustained economic growth, Indonesia experienced a major economic and financial crisis in the late 1990s. Between 1970 and 1997, on average per capita gross domestic product (GDP) increased by almost 5 percent each year. In 1998, per capita GDP fell by about 15 percent, bringing the economy back to its level in 1994. The financial crisis was accompanied by dramatic shifts in the economic and political landscape in the country.