North Sumatra Investment Book
INDONESIA GDP GROWTH
BB BANK INDONESIA
BANK SENTRAL REPUBLIK INDONESIA
Strong GDP Growth
II III IV
II III IV
2017
2018
2019
Nasional qtq
2020
2021
2022
Nasional yoy
Source: Central Bureau of Statistics of Indonesia (BPS)
GDP Regionally
5,03
-0,92
5,17
3,86
2023
Sumatera
4,96 4,90
5,56
4,54
Kalimantan
Sulawesi
13.07
6.48
6.64
8,32%
7,13%
Maluku &
Papua
2,57%
GDP Q2 2023
21,94%
Q2 2022 (yoy)
Q2 2023 (yoy)
2023 Budget
5,65 5,18 57,27%
Jawa
2,77% 4,01
3,01
Bali & Nusa Tenggara
Indonesia Growth Prospect in 2023
Bank Indonesia
Institutions
Consensus Forecast (July 2023)
World Bank (GEP, June 2023)
IMF (WEO, July 2023)
6,35
GDP growth (%)
5.3
4.5-5.3
4.8
4.9
5.0
Indonesia's economic recovery continued in the
second quarter of 2023 with growth of 5.17%
(yoy), stronger than 5.03% (yoy) in the first
quarter of 2023. On demand side, economic growth
is mainly supported by private and government
consumption. In addition, household consumption
grow higher, driven by the celebration of Religious
Day Idul Fitri and Eid al-Adha, also the provision of
allowance revenue of that Day and the 13th salary.
Investment activities also recorded positive as the
development of Trans Sumatra Highway still on going
and many other infrastructure projects.
In terms of business fields, the three business fields
as the highest sector growth are Transportation and
Warehousing, Other Services, and Accommodation
and Food and Drink. This is in line with the increase in
public mobility and foreign tourist visits, the holding of
several national and international events, as well as Eid
holidays and school holidays.
Bank Indonesia projects economic growth as much
as 4.5-5.3% (yoy) range in 2023. Indonesia's
economic recovery is confirmed by Bank Indonesia's
survey results on increasing consumer confidence and
positive retail sales, as well as early indicators of the
Manufacturing Purchasing Managers' Index (PMI)
which is still in the expansion side.
Bank Indonesia will continue to strengthen synergy
between the Provincial Government's fiscal stimuli and
macroprudential of Bank Indonesia also to stimulate
economic growth.
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