Indonesia's annual economic growth edged up to 5.18 percent in the fourth quarter of 2018 from 5.17 percent in the previous three-month period and slightly above market consensus of 5.11 percent. The expansion was mainly driven by private consumption while both fixed investment and government spending increased at a slower pace. Meantime, net exports contributed negatively to the GDP growth. For 2018 as a whole, the economy grew 5.17 percent, compared to a 5.07 percent expansion in 2017, and marking the fastest growth rate since 2013. GDP Annual Growth Rate in Indonesia averaged 5.28 percent from 2000 until 2018, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of 1.56 percent in the fourth quarter of 2001.
GDP Annual Growth Rate in Indonesia is expected to be 4.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Indonesia to stand at 5.00 in 12 months time. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 5.50 percent in 2020, according to our econometric models.