Investor Presentaiton
National Economic Recovery Continue to Accelerate
Strong GDP Growth¹
8.0
QoQ
- YoY
6.0
4.0
5.05
Love
2.0
3.8327 3.7431
4.01
4.01
4.21
4.20
3.14
3.19
3.09
3.05
0.04
3.31
1.5506
0.0
-2.0
(0.16)
(2.07) (1.73) (1.810.30) (1.7.41)
730.36)
(1.69) (1.742.41) (0.400.94)
(0.52)
(0.95)
(4.19
-4.0
-6.0
-8.0
Q1 Q3 Q1 Q3 Q1 Q3
2014
2015
7.07
5.01
5.02 5.44
3.72
The national economy in Indonesia posted strong growth in the second quarter of
2022 despite the risks posed by global economic moderation and increasing
inflationary pressures. Economic growth in the second quarter of 2022 accelerated
significantly to 5.44% (yoy) from 5.01% (yoy) in the previous period. Faster
economic growth was supported by growing domestic demand, particularly
household consumption, and persistently solid export performance. National
economic improvements were also reflected in higher growth among most economic
sectors and in all regions. Moving forward, the economic gains are expected to
persist on increasing mobility, sources
of finance and corporate activity.
Notwithstanding, the impact of global economic moderation on export performance,
coupled with potentially restrained household consumption in response to higher
inflation, demand vigilance.
In terms of spending, economic growth in the second quarter of 2022 was driven by
nearly all components. Household consumption soared to 5.51% (yoy) from 4.34%
(yoy) in the previous period, boosted by greater public mobility as the Government
relaxed mobility restrictions together with the national religious holiday (HBKN). In
contrast, investment moderated to 3.07% (yoy), primarily due to building investment
amid solid non-building investment performance. Meanwhile, government
consumption contracted 5.24% (yoy), particularly due to lower procurement
associated with Covid-19 handling and the national economic recovery as pandemic
conditions improved. Export growth increased to 19.74% (yoy) on the back of
persistently solid demand from Indonesia's key trading partners. Furthermore,
import growth was also high at 12.34% (yoy) in line with growing domestic demand
and improving export performance.
Economic improvements persisted in nearly all economic sectors in the second
quarter of 2022, primarily driven by the Manufacturing Industry, Transportation and
Storage as well as Wholesale and Retail Trade.Tenggara (Balinusra).
2022 Growth Projection *)
Q1 Q3
Q3 Q1 Q3 Q1 Q3
192
2016
2017
2018 2019
2020
2021 2022
Favourable GDP Growth Compared to Peers²
10.00
% yoy
7.40
6.70
5.80
5.00
5.30
0.00
3.20
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
-5.00
Institutions
GDP growth
-10.00
Bulgaria
India
Colombia
Indonesia
-15.00
Philippines
2022 Budget
Bank Indonesia
IMF (WEO, July 2022)
4.8-5.5
4.5-5.3
5.3
1.
2.
Source: Central Bureau of Statistics of Indonesia (BPS), ** Including non-profit household consumption World Bank (GEP, June 2022)
Source: World Economic Outlook Database - July 2022; * indicates estimated figure
5.1
*) Consensus Forecast number will be given later
ADB (ADO, July 2022)
5.2
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