Indonesia Q4 GDP Growth Beats Estimates

Indonesia's economy expanded by 5.01% yoy in Q4 of 2022, beating market estimates of a 4.84% rise after a marginally revised 5.73% gain in Q3.

This was the 7th consecutive period of expansion but the softest pace since Q3 of 2021, amid slower increases in household consumption (4.48% vs 5.39% in Q3) and fixed investment (3.33% vs 4.98%).

Net trade contributed positively, as exports grew by 14.93% and imports - by 6.25%.

At the same time, government consumption dropped more (-4.77% vs -2.55%).

On the production side, output rose for agriculture (4.51%), manufacturing (5.64%), utilities (2.31%), wholesale & retail trade (6.55%), and transport & warehouse (16.99%).

For the whole of 2022, the economy advanced by 5.31%, the most since 2013 and compared to a marginally revised 3.70% growth in 2021, boosted by pandemic-related restrictions removal and a global commodity boom that lifted exports to a record high.