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Indonesia’s economy expanded by 4.94% yoy in Q3 of 2023, softer than market forecasts of a 5.05% gain, pointing to the weakest growth since the third quarter of 2021.GDP Annual Growth Rate in Indonesia averaged 4.88 percent from 2000 until 2023, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of -5.32 percent in the second quarter of 2020.
source:
Statistics Indonesia
The Gross Domestic Product (GDP) in Indonesia expanded 4.94 percent in the third quarter of 2023 over the same quarter of the previous year.
The Gross Domestic Product (GDP) in Indonesia expanded 4.94 percent in the third quarter of 2023 over the same quarter of the previous year.GDP Annual Growth Rate in Indonesia is expected to be 4.30 Annual Growth Rate is projected to trend around 5.20 percent in 2024 and 4.70 //tradingeconomics.com/embed/?s=idgdpy&v=202311060422v20230410&w=850&h=400&h=300&w=600&ref=/indonesia/gdp-growth-annual’ YoY
Q2
5.17%
5.04%
4.93%
4.9%
2023-11-06
04:00 AM
GDP Growth Rate YoY
Q3
4.94%
5.17%
5.05%
5.1%
Annual Growth Rate
Indonesia is the largest economy in South East Asia.Industry accounts for the largest share of GDP (46.5 percent of total GDP).Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output).Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent.
Services constitute 38 percent of total GDP.Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent).
Agriculture accounts for the remaining 15 percent.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
4.94
5.17
7.16
-5.32
2000 – 2023
percent
Quarterly
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News Stream
Indonesia Q3 GDP Growth at 2-Year Low
Indonesia’s economy expanded by 4.94% yoy in Q3 of 2023, softer than market forecasts of a 5.05% gain, pointing to the weakest growth since the third quarter of 2021.
2023-11-06
Indonesia Q2 GDP Growth Exceeds Estimates
Indonesia’s economy advanced by 5.17% yoy in Q2 of 2023, faster than market forecasts of a 4.93% gain, and after a marginally revised 5.04% growth in Q1.This was the 9th consecutive period of expansion and the strongest pace in three quarters, as household consumption accelerated during the fasting month of Ramadan and the Eid-ul Fitr festivals (5.23% vs 4.54% in Q1).Also, there was a strong pickup in both government spending (10.62% vs 3.45%) and fixed investment (4.63% vs 2.11%).Net trade, however, contributed negatively, amid falls in both exports (-2.75%) and imports (-3.80%).
On the production side, output growth quickened for agriculture (2.02% vs 0.43%% in Q1), manufacturing (4.88% vs 4.43%), mining (5.01% vs 4.92%), wholesale & retail trade (5.25% vs 4.92%), communication (8.02% vs 7.13%), and construction (5.23% vs 0.32%).The central bank for this year projected the economy to grow between 4.5-5.3%.In 2022, the economy expanded by 5.31%, the most since 2013.
2023-08-07
Indonesia Q1 GDP Growth Beats Estimates
Indonesia’s economy advanced by 5.03% yoy in Q1 of 2023, beating market estimates of a 4.95% growth after a 5.01% gain in Q4 of 2022.This was the 8th consecutive period of expansion, amid faster rises in household consumption (4.54% vs 4.48% in Q4) and a rebound in government consumption (3.99% vs -4.77%).
Net trade contributed positively, as exports grew by 11.68% and imports – by 2.77%.Meanwhile, fixed investment continued to increase (2.11% vs 3.33%).On the production side, output rose for agriculture (0.34%), manufacturing (4.43%), utilities (2.67%), wholesale & retail trade (4.89%), transport & warehouse (15.93%), information & communication (7.19%), and mining (4.92%).The central bank maintained its growth outlook for this year at the upper end of its 4.5% to 5.3% range.
In 2022, the economy expanded by 5.31%, the most since 2013, boosted by pandemic-related restrictions removal and a global commodity boom that lifted exports to a record high.
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