Retail Sales in Indonesia
The Indonesian economy recorded an average growth rate of 5.6% in retail sales in the decade leading to 2022, below the 8.2% average for the Asia-Pacific region. In 2022, retail sales growth in Indonesia was 6.0%.
Indonesia Retail Chart
Indonesia Retail Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Retail Sales (ann. var. %) | 3.7 | 3.8 | -11.9 | 0.0 | 6.0 |
Retail sales growth rises in January
Retail sales expanded 3.7% compared to the same month of the previous year in January, which was above December's 0.2% increase. The print marked the best reading since June 2023. January's improvement was partly driven by faster growth in food, beverages, and tobacco sales. In addition, motor vehicles, parts and accessories sales picked up pace. Lastly, cultural and recreation goods sales declined at a softer rate, while information and communication equipment sales contracted at a softer pace than in December. Meanwhile, the trend improved slightly, with the annual average growth of retail sales coming in at 1.8% in January, up from December's 1.5% reading.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Indonesian retail projections for the next ten years from a panel of 2 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable retail forecast available for Indonesian retail.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Indonesian retail projections.
Want to get access to the full dataset of Indonesian retail forecasts? Send an email to info@focus-economics.com.
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