Markets Actual Q2 Q3 Q4 Q1 2020
Currency 14445.00 14319 14393 14469 14544 14695
Stock Market (points) 5826.87 6373 6293 6213 6134 5979
Government Bond 10Y (%) 8.03 7.89 7.99 8.08 8.18 8.37
Overview Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.52 3.4 2.6 -0.9 -0.9 -0.8
GDP Annual Growth Rate (%) 5.07 4.9 5.2 5.1 5 5.3
Unemployment Rate (%) 5.01 5.4 5.4 4.9 4.9 4.9
Inflation Rate (%) 2.83 2.9 2.9 3.1 3.2 3.7
Inflation Rate Mom (%) 0.44 0.7 0.8 0.9 0.5 0.5
Interest Rate (%) 6.00 6 6.5 6.5 6.5 5.75
Balance of Trade (USD Million) -2501.90 -1200 500 -900 -800 300
Current Account (USD Million) -6966.00 -5000 -3900 -3100 -4500 -3100
Current Account to GDP (%) -3.00 -2.5 -2.5 -2.5 -2.2 -2.2
Government Debt to GDP (%) 29.80 30.9 30.9 30.9 32.2 32.2
Government Budget (% of GDP) -1.76 -2.4 -2.4 -2.4 -2.3 -2.3
Business Confidence (Index Points) 102.10 106 106 105 106 108
Manufacturing PMI 50.40 51.2 50.9 50.2 51 51.5
Consumer Confidence (Index Points) 128.10 122 122 123 125 128
Retail Sales MoM (%) 5.50 6.4 -0.4 4.2 3.2 3.4
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 30.00 30 30 30 30 30
GDP Actual Q2 Q3 Q4 Q1 2020
GDP Growth Rate (%) -0.52 3.4 2.6 -0.9 -0.9 -0.8
GDP Annual Growth Rate (%) 5.07 4.9 5.2 5.1 5 5.3
GDP (USD Billion) 1015.54 1126 1126 1126 1150 1150
GDP Constant Prices (IDR Billion) 2625042.10 2667540 2753974 2773478 2770839 2920472
Gross Fixed Capital Formation (IDR Billion) 861834.53 848726 903696 960939 960025 1011869
GDP per capita (USD) 4130.66 4332 4332 4332 4567 4567
GDP per capita PPP (USD) 11188.74 11733 11733 11733 12037 12037
GDP From Agriculture (IDR Billion) 80035.80 86431 84717 48528 48482 51100
GDP From Construction (IDR Billion) 265916.20 259693 272547 292043 291765 307522
GDP From Manufacturing (IDR Billion) 555287.70 559015 574280 581455 580901 612272
GDP From Mining (IDR Billion) 199882.80 204982 205919 210596 210396 221758
GDP From Services (IDR Billion) 49676.80 47671 48893 50966 50918 53668
GDP From Utilities (IDR Billion) 36514.80 36512 37722 39814 39776 41924
Labour Actual Q2 Q3 Q4 Q1 2020
Unemployment Rate (%) 5.01 5.4 5.4 4.9 4.9 4.9
Unemployed Persons 6871264.00 6775000 6775000 6775000 6610000 6610000
Labor Force Participation Rate (%) 69.20 69.3 69.3 69.3 69.1 69.1
Minimum Wages (IDR Million/Month) 3.94 3.94 3.94 3.94 4.1 4.1
Wages in Manufacturing (IDR/Month) 2703980.52 2740000 2850000 2850000 2850000 3100000
Population (Million) 264.20 266 266 265 268 268
Retirement Age Women 58.00 58 58 58 58 58
Retirement Age Men 58.00 58 58 58 58 58
Living Wage Family (IDR/Month) 2954800.00 3150000 3150000 3150000 3150000 3230000
Living Wage Individual (IDR/Month) 1456700.00 1820000 1820000 1820000 1820000 1890000
Wages Low Skilled (IDR/Month) 3427900.00 3270000 3270000 3270000 3270000 3330000
Wages High Skilled (IDR/Month) 5017000.00 5240000 5240000 5240000 5240000 5310000
Prices Actual Q2 Q3 Q4 Q1 2020
Inflation Rate (%) 2.83 2.9 2.9 3.1 3.2 3.7
Inflation Rate Mom (%) 0.44 0.7 0.8 0.9 0.5 0.5
Consumer Price Index CPI (Index Points) 136.47 138 138 140 140 145
Core Consumer Prices (Index Points) 127.65 128 129 130 132 135
Core Inflation Rate (%) 3.05 3 2.7 3 3.2 3.5
Producer Prices (Index Points) 166.14 176 178 176 175 185
Food Inflation (%) 2.29 3.5 3.8 4.2 4.2 4
Producer Prices Change (%) 2.08 6.8 6.5 6 5.5 5
CPI Housing Utilities (Index Points) 132.04 133 134 135 136 140
CPI Transportation (Index Points) 146.75 149 146 151 151 156
Money Actual Q2 Q3 Q4 Q1 2020
Interest Rate (%) 6.00 6 6.5 6.5 6.5 5.75
Interbank Rate (%) 7.25 7.21 7.21 7.21 7.21 7.21
Money Supply M2 (IDR Billion) 5744240.90 5910000 5990000 6150000 6150000 6270000
Foreign Exchange Reserves (USD Million) 124300.00 115400 115800 116200 116200 172000
Loans to Private Sector (IDR Billion) 4652218.00 4690000 4750000 4830000 4830000 4950000
Deposit Interest Rate (%) 5.25 5.25 5.25 5.25 5.25 5.25
Lending Rate (%) 6.75 6.75 6.75 6.75 6.75 6.75
Loan Growth (%) 11.55 5.9 5.7 6.3 5.9 5.9
Cash Reserve Ratio (%) 6.50 6.5 6.5 6.5 6.5 6.5
Trade Actual Q2 Q3 Q4 Q1 2020
Balance of Trade (USD Million) -2501.90 -1200 500 -900 -800 300
Current Account (USD Million) -6966.00 -5000 -3900 -3100 -4500 -3100
Current Account to GDP (%) -3.00 -2.5 -2.5 -2.5 -2.2 -2.2
Imports (USD Million) 15098.80 12200 13200 15800 14700 16700
Exports (USD Million) 12596.90 11000 13700 14900 15000 16500
External Debt (USD Million) 387592.08 410000 410000 410000 410000 420000
Foreign Direct Investment (IDR Trillion) 107.90 93.8 98 105 110 98.8
Tourist Arrivals 1338666.00 1470000 1520000 1550000 1550000 1580000
Gold Reserves (Tonnes) 78.50 80.6 80.6 80.6 80.6 80.6
Crude Oil Production (BBL/D/1K) 772.00 794 797 801 800 805
Government Actual Q2 Q3 Q4 Q1 2020
Government Debt to GDP (%) 29.80 30.9 30.9 30.9 32.2 32.2
Government Budget (% of GDP) -1.76 -2.4 -2.4 -2.4 -2.3 -2.3
Government Spending (IDR Billion) 153652.73 198218 211132 297858 297575 313644
Taxes Actual Q2 Q3 Q4 Q1 2020
Corporate Tax Rate (%) 25.00 25 25 25 25 25
Personal Income Tax Rate (%) 30.00 30 30 30 30 30
Sales Tax Rate (%) 10.00 10 10 10 10 10
Social Security Rate (%) 9.74 9.74 9.74 9.74 9.74 9.74
Social Security Rate For Companies (%) 5.74 5.74 5.74 5.74 5.74 5.74
Social Security Rate For Employees (%) 4.00 4 4 4 4 4
Business Actual Q2 Q3 Q4 Q1 2020
Business Confidence (Index Points) 102.10 106 106 105 106 108
Manufacturing PMI 50.40 51.2 50.9 50.2 51 51.5
Industrial Production (%) -4.00 6 5.7 5.1 5.3 6.6
Industrial Production Mom (%) -4.20 -0.6 0.7 4 3.5 1.8
Changes in Inventories (IDR Billion) 61523.99 48200 25400 -26500 -26500 -29600
Car Registrations 84056.00 56000 91000 86000 102000 89000
Copper Production (Tonnes) 218028.00 269000 266000 271000 260000 268000
Consumer Actual Q2 Q3 Q4 Q1 2020
Consumer Confidence (Index Points) 128.10 122 122 123 125 128
Retail Sales MoM (%) 5.50 6.4 -0.4 4.2 3.2 3.4
Retail Sales YoY (%) 10.10 3.6 2.8 3.9 4 5.1
Consumer Spending (IDR Billion) 1442320.30 1429535 1477952 1515347 1513905 1595660
Consumer Credit (IDR Billion) 2401318.00 2300878 2355754 2486828 2492677 2618630
Households Debt To GDP (% of GDP) 17.00 16.8 16.8 16.8 16.8 17
Gasoline Prices (USD/Liter) 0.45 0.44 0.42 0.41 0.4 0.4
Housing Actual Q2 Q3 Q4 Q1 2020
Housing Index (Index Points) 209.46 210 212 213 213 217


Indonesia's economy is expected to advance 5.2% in 2018, the same as in 2017. Investment is projected to increase further, due to the ongoing recovery in commodity prices, and improved investor confidence after the country was upgraded to the investment grade by all the major agencies. At the same time, private consumption is seen rising amid moderate inflation and a robust labor market. Meanwhile, net exports may drag on growth as import-intensive investment remains robust, also due to the ongoing streamlining of import processes. Inflation is seen at 3.5% on the assumptions that there is no extreme weather disrupting food production. The rupiah is expected to remain under pressure amid global uncertainty, including the Fed’s decision to raise its reference rate and intensifying trade disputes. The central bank is seen tightening further this year, depending on how domestic and global developments play out and how aggressive is the normalization of US monetary policy. This page has economic forecasts for Indonesia including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Indonesia economy.