As the world’s largest archipelago with more than 17,500 islands, Indonesia’s link to the sea has long meant that trade has played a significant role in its shaping. Historical links to India and China — as well as to the rest of Southeast Asia — also mean that it’s well-position near some of the fastest-growing economies in the world. And its population of roughly 250 million people means that it also has significant indigenous demand for goods and services.

Less known about Indonesia is the fact that it was able to weather the 2008 financial crisis better than its neighbors and that its stock market is up over 20% so far in 2014. (For more, see: Make A Play For Asia’s Frontier .)

Indonesia, which bore most of the brunt of the 1997 Asian financial crisis. was able to wait out the subprime meltdown of 2008 when many large economies were engulfed by it. The policies put in place by the Indonesian government after the 1997 meltdown provided an effective shield to the economy. Indonesia’s subsequent economic performance had economists placing it with India and China as a next power center of Asia. Some even argued that is should be included among the BRIC nations. That didn’t happen, but Jim O’Neill, the former Goldman Sachs economist who coined the acronym, included it in a new acronym for the next wave of emerging economies: MINT countries. (For more, see: The MINTs Could Be The Next Big Thing .)

Vast Natural Resources

Indonesia has been a member of OPEC. and oil and gas exports were a big part of the country’s balance sheet until about a decade back. Rising domestic demand has turned Indonesia into a net oil importer despite being relatively oil-rich (the country suspended its OPEC membership in January 2008). Its huge population and increasing oil consumption has burdened Indonesia with oil import bills and subsidies. The country is also rich in natural resources such as rubber, coffee, tin, copper, gold, nickel, palm products, fish and forestry products. Tourism is gaining popularity and contributes just under $10 billion to the economy.

The Indonesian economy is not seeing the best of times right now. Gross domestic product (GDP ) growth moderated to 5.8% in 2013 from an average of 6.3% over the previous three years. Gross domestic product (GDP) grew at 5.1% during the second quarter 2014, which is the economy’s lowest level for almost five years. Economic growth took a hit as a result of a ban on unprocessed mineral exports and a rise in interest rates. The interest rate rise by the central bank was designed to mute domestic demand as inflation rose and to prevent its trade deficit from growing. President-elect Joko Widodo will take office in October 2014 amid high expectations, as he has vowed to revive the economy to a growth rate of at least 7% in order to reduce poverty and boost job creation.

The International Monetary Fund (IMF ) expects Indonesia’s economy will grow by around 5.4% in 2014 and financial conditions will improve accordingly, though the Asian Development Bank (ADB ) projects a slight dip in economic growth in 2014 before picking up again in 2015.

Selected Economic Indicators (%)