Indonesia's economy grew by 1.81% qoq in Q3 of 2022, beating market consensus of a 1.62% rise but easing from a 3.72% increase in Q2 which was the steepest quarterly growth since Q3 of 2020. The latest print reflected the impact of rising inflation, high interest rates, and a slowdown in China. Government spending moderated sharply (11.22% vs 31.60% in Q2) while private consumption fell after a steep fuel price hike in September (-0.3% vs 2.42). Meantime, fixed investment bounced back (6.53% vs -3.66%), amid a strong contribution from net trade with exports growing 10.08% while imports rose 7.86%. On the production side, output slowed for agriculture and forestry (2.20% vs 13.13%), mining (3.4% vs 3.56%), transport & warehouse (2.32% vs 6.78%), food & beverages (1.19% vs 4.94%), and education (0.67% vs 7.46%). On the other hand, activity shrank for finance & insurance (-1.85% vs 0.02%), state administration, defense (-5.15% vs 9.40%, and other services (-1.34% vs 1.14%). source: Statistics Indonesia
GDP Growth Rate in Indonesia averaged 1.26 percent from 2005 until 2022, reaching an all time high of 5.05 percent in the third quarter of 2020 and a record low of -4.19 percent in the second quarter of 2020. This page provides - Indonesia GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.
GDP Growth Rate in Indonesia is expected to be 1.55 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia GDP Growth Rate is projected to trend around -1.30 percent in 2023 and 1.00 percent in 2024, according to our econometric models.