Investor Presentaiton
Indonesia's Economic Growth Remains Solid
8,0
4,0
10
0,0
-4,0
-8,0
Strong GDP Growth ¹
%,yoy
4,94
2019
2020
2021
2022
2023
GDP Growth Compared to Peers²
Indonesia's economic growth in the third quarter of 2023 grew strongly at 4.94%
(yoy), although it slowed slightly from the previous quarter to 5.17% (yoy).
The economic performance was supported by solid domestic demand. Household
consumption growth recorded 5.06% (yoy) in line with increasing mobility, stable
purchasing power, and well-maintained consumer confidence. Meanwhile,
government consumption contracted by 3.76% (yoy) due to shifting personnel
expenditures in Q2-2023. Overall investment recorded a higher growth at 5.77%
(yoy), supported by improved construction investment in line with the continued
infrastructure development in various regions, including the infrastructure
development of Ibu Kota Nusantara (IKN). Nevertheless, exports contracted by
4.26% (yoy), given the weaker global economy.
Economic growth is also supported by sound performance across all economic
sectors, particularly the manufacturing industry, wholesale and retail trade as well
as construction. Spatially, the highest economic growth was recorded in the
regions of Sulawesi-Maluku-Papua (Sulampua), Java, Kalimantan, Sumatera, and
Bali-Nusa Tenggara (Balinusra).
2023 Growth Projection *)
%,yoy
20,00
10,00
0,00
-10,00
2023 Budget
Bank Indonesia
Institution
World Bank (GEP, June 2023)
Consensus Forecast (November 2023)
GDP growth
5.3
4.5-5.3
4.9
5.0
-20,00
2018
2019
2020
2021
2022
2023
2024*
IMF (WEO, October 2023)
5.0
50
ADB (Asian Development Bank, September
2023)
5.0
Bulgaria
Columbia
India
Indonesia
Philippines
1. Source: Central Bureau of Statistics of Indonesia (BPS), ** Including non-profit household consumption
2. Source: World Economic Outlook Database - October2023* indicates estimated figure
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