This paper is the second part of the ?rst paper published by the LPEM UI on January 18 2021 (Verico, 2021a). This
?rst part discussed Indonesia’s output gap, the global pandemic’s impact, and the scenario to avoid the middle-income trap by 2040. In this second part, the paper ?gures out the manufacturing sector performance from 1968 until 2019, before the global pandemic hit Indonesia’s economy.