Indonesia's economy shrank by 0.92% qoq in Q1 of 2023, compared to the market consensus of a 1% contraction, reversing from a 0.36% growth in Q4. This was the first contraction in the economy since the first quarter of 2022, amid a decline in both fixed investments (-3.72% vs 3.31% in Q4) and government spending (-45.38% vs 30.13%). In addition, private consumption eased (0.25% vs 2.12%) amid rising cost pressures and high-interest rates. Net trade also contributed negatively, with exports down 5.40% and imports declining at a faster 6.95%, due to a slowdown in China, Indonesia's main trading partner. On the production side, output shrank for mining (-4.21% vs 2.28% in Q4), manufacturing (0.40% vs 1.6%), construction (-2.49% vs 4.57%), transportation (-0.11% vs 6.24% ), wholesale & retail trade (-0.39% vs 0.69%). In 2022, the economy expanded 5.31%, the most in nine years, driven by pandemic measures removal and robust exports. source: Statistics Indonesia

GDP Growth Rate in Indonesia averaged 1.22 percent from 2005 until 2023, 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 June of 2023.

GDP Growth Rate in Indonesia is expected to be 1.70 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 1.00 percent in 2024 and 1.10 percent in 2025, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

API Features Documentation Interested? Click here to contact us
Please Paste this Code in your Website
width
height
 Preview
Indonesia GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2023-02-06 04:00 AM Q4 0.36% 1.83% 0.33% 0.4%
2023-05-05 02:00 AM Q1 -0.92% 0.36% -1% -0.9%
2023-08-07 04:00 AM Q2 -0.92% 1.7%


Related Last Previous Unit Reference
GDP Growth Rate -0.92 0.36 percent Mar 2023
GDP Annual Growth Rate 5.03 5.01 percent Mar 2023
GDP Constant Prices 2961191.20 2988636.50 IDR Billion Mar 2023
Gross National Product 701250.16 714387.33 IDR Billion Dec 2014
Gross Fixed Capital Formation 929315.49 965190.60 IDR Billion Mar 2023
Full Year GDP Growth 5.31 3.70 percent Dec 2022
GDP from Utilities 27414.40 27439.00 IDR Billion Mar 2023
GDP from Services 55410.50 55501.30 IDR Billion Mar 2023
GDP from Mining 214281.80 223698.50 IDR Billion Mar 2023
GDP from Manufacturing 613278.40 615758.30 IDR Billion Mar 2023
GDP from Construction 285481.80 292776.20 IDR Billion Mar 2023
GDP from Agriculture 78240.10 51890.30 IDR Billion Mar 2023

Indonesia GDP Growth Rate
Indonesian economy is the largest in South East Asia. The country has been growing steady in the last few years mostly due to high domestic consumption and growth in exports of manufactured products and commodities.
Actual Previous Highest Lowest Dates Unit Frequency
-0.92 0.36 5.05 -4.19 2005 - 2023 percent Quarterly

News Stream
Indonesia Q1 Quarterly GDP Shrinks Less than Expected
Indonesia's economy shrank by 0.92% qoq in Q1 of 2023, compared to the market consensus of a 1% contraction, reversing from a 0.36% growth in Q4. This was the first contraction in the economy since the first quarter of 2022, amid a decline in both fixed investments (-3.72% vs 3.31% in Q4) and government spending (-45.38% vs 30.13%). In addition, private consumption eased (0.25% vs 2.12%) amid rising cost pressures and high-interest rates. Net trade also contributed negatively, with exports down 5.40% and imports declining at a faster 6.95%, due to a slowdown in China, Indonesia's main trading partner. On the production side, output shrank for mining (-4.21% vs 2.28% in Q4), manufacturing (0.40% vs 1.6%), construction (-2.49% vs 4.57%), transportation (-0.11% vs 6.24% ), wholesale & retail trade (-0.39% vs 0.69%). In 2022, the economy expanded 5.31%, the most in nine years, driven by pandemic measures removal and robust exports.
2023-05-05
Indonesia Economy Expands 0.36% QoQ in Q4
Indonesia's economy expanded by 0.36% qoq in Q4 of 2022, above the market consensus of 0.33% and after a marginally revised 1.83% increase in Q3. This was the third consecutive period of growth but the lowest in the sequence, amid moderation in fixed investment (3.31% vs 6.53% in Q3). Net trade also contributed negatively, with exports down 0.25% and imports shrinking at a faster 2.53%, due to a slowdown in China, Indonesia's main trading partner. Meanwhile, private consumption bounced back (2.12% vs -0.3%) despite rising cost pressures and high-interest rates, and government spending picked up (30.13% vs 10.71%). On the production side, output slowed for mining (2.28% vs 3.4%), manufacturing (1.6% vs 3.16%), and construction (4.57% vs 4.73%). At the same time, activity shrank for agriculture & forestry (-17.4% vs 2.18%) and utilities (-0.78% vs 1.89%). For the full year, the economy grew 5.31%, the most in nine years, boosted by pandemic measures removal and robust exports.
2023-02-06
Indonesia Economy Expands 1.81% QoQ in Q3
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%).
2022-11-07