Investor Presentaiton
National Economic Growth Remains Solid
Strong GDP Growth¹
QoQ
-YoY
7,07
8,0
5,72
6,0
5,02 5.01
4,0
2,0
0,0
-2,0
(2,07)
(0,16)
3,83,27
3,7431
ኩኩኩኩ
4,01
3,14
3,19
3,09
5,03
5,05
5,01
4,01
4,21
4,20
3,72
3,06
B.31
1.5506
(1,73,36) (1,810,30) (170,41) (1,68.5
(1,742,41) (0,42 0,96)
1,81 0,92
(0,96) 0,36
(0,52)
(419
-4,0
-6,0
-8,0
Q2 Q4 Q2 Q4 Q4 Q2
Q2
Q4 Q2
QA
Q2
2015
2016
2017
2018
2019
2020
2021
Favourable GDP Growth Compared to Peers²
15,00% yoy
10,00
5,00
0,00
Q4 Q2 Q4 Q2 Q4
2022 2023
Against a backdrop of global economic moderation, economic growth in Indonesia
remains solid. The latest data published by BPS-Statistics Indonesia indicates 5.03%
(yoy) national economic growth in the first quarter of 2023, up slightly from 5.01%
(yoy) in the previous period. Moving forward, Bank Indonesia projects solid economic
growth in 2023 with a bias towards the upper bound of the 4.5-5.3% range on the back
of improving domestic demand and persistently strong export performance.
Solid economic growth in the reporting period was supported by all GDP
components. Exports maintained high 11.68% (yoy) growth, underpinned by strong
demand in key trading partner countries. Household consumption growth improved to
4.54% (yoy) in line with increasing mobility and purchasing power, coupled with lower
inflation. Government consumption expanded 3.99% (yoy), primarily driven by
procurement and personnel expenditures. Meanwhile, non-building investment growth
also remained solid in line with export performance, though overall investment was
sluggish at 2.11% (yoy) given subdued building investment growth.
Robust economic growth was also reflected by broad-based sectoral and spatial
growth. All economic sectors recorded positive growth in the first quarter of 2023,
primarily underpinned by the Manufacturing Industry, Wholesale and Retail Trade as
well as Mining and Quarrying. Meanwhile, the Transportation and Storage sector,
Accommodation and Food Service Activities as well as Other Services posted strong
growth on greater public mobility and a surge of inbound international travellers.
Spatially, economic growth in the first quarter of 2023 was maintained in nearly all
regions of Indonesia, led by Kalimantan, followed by Sulawesi-Maluku-Papua
(Sulampua), Java, Sumatra and Bali-Nusa Tenggara (Balinusra).
2023 Growth Projection *)
6,10
6,20
5,00
1,40
1,00
2023 Budget
Institutions
-5,00
-10,00
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Bulgaria
Colombia
India
Indonesia
Bank Indonesia
Consensus Forecast (July 2023)
Philippines
World Bank (GEP, June 2023)
IMF (WEO, July 2023)
***
1. 15 sauce: Central Bureau of Statistics of Indonesia (BPS), Including non-profit household consumption
2.
Source: World Economic Outlook Database - JULY 2023; * indicates estimated figure
*) Consensus Forecast number will be given later
ADB (Asian Development Outlook, April 2023)
GDP growth
5.3
4.5-5.3
4.8
4.9
5.0
4.8
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