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 November of 2022.

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.

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Indonesia GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-05 02:00 AM Q2 3.72% -0.95% 3.44% 2.96%
2022-11-07 04:00 AM Q3 1.81% 3.72% 1.62% 1.8%


Related Last Previous Unit Reference
GDP Growth Rate 1.81 3.72 percent Sep 2022
GDP Annual Growth Rate 5.72 5.45 percent Sep 2022
GDP Constant Prices 2843000.00 2923675.30 IDR Billion Sep 2022
Gross National Product 701250.16 714387.33 IDR Billion Dec 2014
Gross Fixed Capital Formation 934099.95 876855.97 IDR Billion Sep 2022
Full Year GDP Growth 3.69 -2.07 percent Dec 2021
GDP from Utilities 43969.70 42522.90 IDR Billion Sep 2022
GDP from Services 53449.60 53355.70 IDR Billion Sep 2022
GDP from Mining 218708.60 211507.10 IDR Billion Sep 2022
GDP from Manufacturing 606081.60 587497.60 IDR Billion Sep 2022
GDP from Construction 279993.90 267374.40 IDR Billion Sep 2022
GDP from Agriculture 73197.60 90067.20 IDR Billion Sep 2022

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
1.81 3.72 5.05 -4.19 2005 - 2022 percent Quarterly

News Stream
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
Indonesia Q2 Quarterly GDP Rebounds Strongly
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%).
2022-08-05
Indonesia Economy Contracts 0.96% QoQ in Q1
Indonesia's economy shrank 0.96% qoq in Q1 2022, compared with market estimates of a 0.89% fall and after a 1.06% growth in Q4. This was the first quarterly decline in economic activity in a year, amid COVID-19 mobility curbs as well as worries over the impact of geopolitical tension and risks from a slowdown in China. Government spending plunged (-50.54% vs 33% in Q4), while fixed investment fell slightly (-2.56% vs 4.96%). At the same time, private consumption was sluggish (0.19% vs 3.02%). External demand contributed positively, as exports shrank 3.18% (vs 3.9% in Q4) while imports fell 4.63% (vs 15.05%). On the production side, activity shrank for mining (-2.81% vs 0.83% in Q4), utilities (-3.31% vs 3.56% in Q4), construction (-1.24% vs 3.56%), and healthcare (-16.54% vs 4.03%). At the same time, output eased for manufacturing (0.75% vs 0.82%), communication (1.69% vs 1.71%), and transport, warehouse (0.8% vs 14.24%), amid a rebound in financial and insurance (4.17% vs -1.36%).
2022-05-09