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Indonesia GDP in Q1-2023 5.03 Percent (Y-on-Y)

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Release Date	:	May 5, 2023
File Size	:	3.31 MB

Abstract

Based on Gross Domestic Product (GDP) at current prices in the first quarter of 2023, Indonesia’s economy reached IDR 5,071.7 trillion and IDR 2,961.2 trillion at constant prices (2010).
Indonesia’s economy grew by 5.03 percent in the first quarter of 2023, compared to the first quarter of 2022 (y-on-y). Transportation and Storage experienced the highest growth at 15.93 percent, from production side. Meanwhile, the Export of Goods and Services experienced the highest growth at 11.68 percent on the expenditure side.
Indonesia’s economy in the first quarter of 2023 contracted by 0.92 percent compared to the previous quarter (q-to-q). From the production side, the deepest contraction occurred in the Human Health and Social Work Activities at 14.56 percent. Meanwhile, from the expenditure side, the General Government Final Consumption Expenditure (GGFCE) experienced the deepest contraction of 45.38 percent.
The group of provinces in Jawa Island in the first quarter of 2023 dominated of Indonesia’s economic structure spatially with a share of 57.17 percent with recorded economic performance which experienced a growth slowdown of 4.96 percent compared to the first quarter of 2022 (y-on-y).

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