GDP in Indonesia
Indonesia - GDP
GDP growth stable in Q1
Economic growth was unchanged in the first quarter, with GDP expanding 5.0% on an annual basis (Q4 2021: +5.0% year on year).
Household spending increased 4.3% in the first quarter, which was above the fourth quarter's 3.6% expansion. Conversely, fixed investment growth moderated to 4.1% in Q1, from the 4.5% recorded in the previous quarter. Meanwhile, public spending deteriorated, contracting 7.7% in Q1 (Q4 2021: +5.2% yoy).
On the external front, exports of goods and services growth fell to 16.2% in Q1, marking the slowest reading in a year (Q4 2021: +29.8% yoy). Similarly, imports of goods and services growth waned to 15.0% in Q1 (Q4 2021: +29.6% yoy), marking the weakest reading in a year.
Commenting on the on the release, Jonathan Sequeira, Rina Jio and Andrew Tilton, analysts at Goldman Sachs, remarked:
"Given the upside surprise, incorporating actual Q1 data would mechanically push our annual real GDP growth forecast up to 6.0% in 2022, from 5.7% previously. However, as the reopening rebound was faster-than-expected in Q1 despite the Omicron wave (we had built in more weakness in Q1, with a bigger rebound in Q2), we scale back our sequential growth forecasts for Q2 growth by revising it down to 1.2% s.a. qoq (from 1.5% s.a. qoq, previously). The overall effect of these changes is to keep our annual GDP growth forecast unchanged at 5.7%.”
FocusEconomics Consensus Forecast panelists expect GDP to expand 5.2% in 2022, which is unchanged from last month’s forecast. In 2023, GDP is seen growing 5.2%.
Indonesia - GDP Data
|Economic Growth (GDP, annual variation in %)||4.9||5.0||5.1||5.2||5.0|
5 years of economic forecasts for more than 30 economic indicators.
Indonesia GDP Chart
Source: Statistics Indonesia.
|Bond Yield||7.10||-0.05 %||Dec 31|
|Exchange Rate||13,883||0.05 %||Jan 01|
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June 20, 2022
Merchandise exports moderated to 27.0% in annual terms in May (April: +47.8% year-on-year).
June 10, 2022
Retail sales grew 5.4% compared to the same month a year earlier in May, which was a deterioration from April's 8.5% increase.
June 2, 2022
Consumer prices rose 0.40% in May over the previous month, coming in below April's 0.95% increase.
June 2, 2022
The S&P Global Manufacturing Purchasing Managers' Index (PMI) came in at 50.8 in May, down from April’s 51.9 and marking the lowest figure in nine months.
May 24, 2022
At its monetary policy meeting on 23–24 May, Bank Indonesia (BI) again decided to leave the seven-day reverse repo rate at the all-time low of 3.50%, despite rising price pressures and other tightening cycles in the region.