Indonesia could be the 5th largest economy by 2030 on a nominal basis

Goldman Sachs Jim O’Neill came up with the term BRIC (Brazil, Russia, India, and China).

What countries does O’Neill think are primed for growth? MIST, meaning Mexico, Indonesia, South Korea, and Turkey. All these countries rank worldwide between the 10th and 20th largest GDPs and had GDP growth rates above 5% for 2010.

EconomyWatch is forecasting about 7% GDP growth for Indonesia through 2016. Indonesia has 6.3% GDP growth in 2012.

Indonesia had 6.5% GDP growth in 2011.

The total size of Indonesia’s middle class may rise to 171 million in 2020, or 63 percent of the population. In 2030, it may reach 244 million, or 78 percent of people living in the country.

Indonesia’s population is projected to be 312 million in 2030. Indonesia per capita GDP is projected to be just over $30,000. This will be up from the current GDP per capita of just over $5000. The US is projected to have almost $100,000 per capita GDP. China is projected to be at $50,000 per capita GDP.

The Economist Big Mac index has Indonesia’s currency as being about 42% undervalued.

The Jan 2012 Economist Big Mac Index
China yuan is 42% undervalued. (China was 44% undervalued)
Hong kong is 49% undervalued.
Japan is 1% undervalued. (Japan was on par value 6 months ago)
Canadian dollar is 10% overvalued.
British pound is 9% undervalued.
Indian rupee is 61% undervalued.

Malaysia, Thailand, Taiwan, Russia, Indonesia, Saudi Arabia are all about 40% undervalued.
Brazil is 35% overvalued.

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