Indonesia's economy grew by 3.72% qoq in Q2 of 2022, beating market consensus of a 3.44% rise and shifting from a marginally revised 0.9% fall in Q1. The rebound was the strongest quarterly GDP growth since Q3 2020, with Ramadan and Eid-ul Fitr festivals giving further boost after more easing in pandemic curbs. Government spending bounced back sharply (32% vs -50.46% in Q1), amid an acceleration in private consumption (2.42% vs 0.19%). Also external demand contributed positively, as exports (9.14% vs -2.79%) rose much faster than imports (3.14% vs -3.93%). In contrast, fixed investment shrank further (-3.66% vs -2.56%). On the production side, an upturn in activity was seen for mining (3.56% vs -2.81% in Q1), education (7.43% vs -15.04%), food & accommodation (4.94% vs -0.28%), and healthcare (5.61% vs -16.54%). In addition, output quickened for agriculture (13.15% vs 9.14%), utilities (0.94% vs 0.26%), wholesale & retail trade (2.17% vs 1.19%), and transport (6.78% vs 0.8%). 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 August of 2022.
GDP Growth Rate in Indonesia is expected to be 2.54 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.