Indonesia's economy grew by 5.05% yoy in Q2 of 2024, compared with market estimates of 5.0% and after the strongest expansion in a year of 5.11% in Q1. The latest result came amid sluggish government spending, up only 1.42% after jumping 19.90% in Q1. Meanwhile, private consumption was resilient (4.93% vs 4.91% in Q1) as cash transfers aimed for maintaining purchasing power continued. At the same time, fixed investment accelerated following a peaceful election in February (4.43% vs 3.79%). On the trade front, exports (8.28% vs 1.37%) and imports (8.57% vs 1.93%) gathered pace, contributing positively to the GDP. Production-wise, output eased for mining (3.17% vs 9.31%), healthcare (8.56% vs 11.64%), manufacturing (3.95% vs 4.13%), communication (7.66% vs 8.41%), wholesale & retail trade (4.86% vs 4.59%), and construction (7.29% vs 7.59%). In H1 of 2024, the economy advanced by 5.08%. The country's GDP is expected to expand by 5.2% this year, after logging a 5.05% rise in 2023. source: Statistics Indonesia

The Gross Domestic Product (GDP) in Indonesia expanded 5.05 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Indonesia averaged 4.89 percent from 2000 until 2024, reaching an all time high of 7.16 percent in the fourth quarter of 2004 and a record low of -5.32 percent in the second quarter of 2020. This page provides - Indonesia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Indonesia GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2024.

The Gross Domestic Product (GDP) in Indonesia expanded 5.05 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Indonesia is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Indonesia GDP Annual Growth Rate is projected to trend around 4.70 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-05-06 04:00 AM
GDP Growth Rate YoY
Q1 5.11% 5.04% 5% 4.8%
2024-08-05 04:00 AM
GDP Growth Rate YoY
Q2 5.05% 5.11% 5% 4.5%
2024-11-05 04:00 AM
GDP Growth Rate YoY
Q3 5.05% 5%


Related Last Unit Reference
Full Year GDP Growth 5.05 percent Dec 2023
GDP Growth Rate YoY 5.05 percent Jun 2024
GDP Constant Prices 3231000.00 IDR Billion Jun 2024
GDP from Agriculture 40370.00 IDR Billion Jun 2024
GDP from Construction 301900.00 IDR Billion Jun 2024
GDP from Manufacturing 640500.00 IDR Billion Jun 2024
GDP from Mining 22910.00 IDR Billion Jun 2024
GDP from Services 59732.30 IDR Billion Dec 2023
GDP from Utilities 33100.00 IDR Billion Jun 2024
GDP Growth Rate 3.79 percent Jun 2024
Gross Fixed Capital Formation 958240.08 IDR Billion Jun 2024

Indonesia GDP Annual Growth Rate
Indonesia is the largest economy in South East Asia. Industry accounts for the largest share of GDP (46.5 percent of total GDP). Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output). Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent. Services constitute 38 percent of total GDP. Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent). Agriculture accounts for the remaining 15 percent.
Actual Previous Highest Lowest Dates Unit Frequency
5.05 5.11 7.16 -5.32 2000 - 2024 percent Quarterly


News Stream
Indonesia GDP Expands 5.05% YoY in Q2
Indonesia's economy grew by 5.05% yoy in Q2 of 2024, compared with market estimates of 5.0% and after the strongest expansion in a year of 5.11% in Q1. The latest result came amid sluggish government spending, up only 1.42% after jumping 19.90% in Q1. Meanwhile, private consumption was resilient (4.93% vs 4.91% in Q1) as cash transfers aimed for maintaining purchasing power continued. At the same time, fixed investment accelerated following a peaceful election in February (4.43% vs 3.79%). On the trade front, exports (8.28% vs 1.37%) and imports (8.57% vs 1.93%) gathered pace, contributing positively to the GDP. Production-wise, output eased for mining (3.17% vs 9.31%), healthcare (8.56% vs 11.64%), manufacturing (3.95% vs 4.13%), communication (7.66% vs 8.41%), wholesale & retail trade (4.86% vs 4.59%), and construction (7.29% vs 7.59%). In H1 of 2024, the economy advanced by 5.08%. The country's GDP is expected to expand by 5.2% this year, after logging a 5.05% rise in 2023.
2024-08-05
Indonesia Q1 GDP Annual Growth Strongest in 3 Quarters
Indonesia's economy advanced 5.11% yoy in Q1 of 2024, compared with market estimates of 5.0%, after a 5.04% rise in Q4 of 2023. It was the fastest yearly economic growth since Q2 of 2023, amid robust household consumption during most of Ramadan fasting month and Eid-al Fitr preparation (4.91% vs 4.47% in Q4). Also, government spending picked up strongly (19.90% vs 2.81%), boosted by expenditure related to the February election. Meantime, fixed investment slowed (3.79% vs 5.02%). On the trade front, exports (0.50%) grew softer than imports (1.77%), contributing negatively to the GDP. Production-wise, output quickened for mining (9.31% vs 7.46%), healthcare (11.64% vs 3.09%), manufacturing (4.13% vs 4.07%), communication (8.39% vs 6.74%), and wholesale & retail trade (4.58% vs 4.09%) while easing for construction (7.59% vs 7.68%). For 2024, the economy is expected to grow by 5.2%, helped by efforts to boost domestic consumption and hopes of a smooth transition to a new government.
2024-05-06
Indonesia Q4 GDP Growth Picks Up from 2-Year Low
Indonesia's economy advanced by 5.04% yoy in Q4 of 2023, roughly in line with market forecasts of a 5.0% growth and after the softest growth in 2 years of 4.94% in Q3. Government spending rebounded (2.81% vs -3.93% in Q3), amid a positive contribution from net trade as exports grew (1.64% vs -3.91%) while imports fell (-0.15% vs -6.75%). Meantime, growth slowed for household consumption (4.47% vs 5.05%) and fixed investment (5.02% vs 5.77%). On the production side, output quickened for mining (7.46% vs 6.95%), construction (7.68% vs 6.39%), and health services (3.09% vs 2.91%); while easing for manufacturing (4.07% vs 5.19%), communication (6.74% vs 8.51%), agriculture (1.12% vs 1.49%%), and wholesale & retail trade (4.09% vs 5.10%). For the full year, the economy expanded 5.05%, slightly above government projections of around 5% while slowing from a 5.31% increase in 2022. For 2024, the country's GDP is expected to grow 5.3%, supported by spending related to the February election.
2024-02-05