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
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Economic Growth (GDP, annual variation in %) | 4.9 | 5.0 | 5.1 | 5.2 | 5.0 |
Indonesia GDP Chart

Source: Statistics Indonesia.
Indonesia Facts
Value | Change | Date | |
---|---|---|---|
Bond Yield | 7.10 | -0.05 % | Dec 31 |
Exchange Rate | 13,883 | 0.05 % | Jan 01 |
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Economic News
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Indonesia: Merchandise exports growth eases in May
June 20, 2022
Merchandise exports moderated to 27.0% in annual terms in May (April: +47.8% year-on-year).
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Indonesia: Retail sales growth loses pace in May
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.
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Indonesia: Inflation comes in at highest level since December 2017 in May
June 2, 2022
Consumer prices rose 0.40% in May over the previous month, coming in below April's 0.95% increase.
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Indonesia: Manufacturing PMI weakens in May
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.
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Indonesia: Central Bank holds fire in May
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.