Indonesia's economic growth in Q3-2023 4.94 percent (y-on-y)

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Release Date	:	November 6, 2023
File Size	:	2.51 MB

Abstract

Indonesia's economy in the third quarter of 2023, based on Gross Domes c Product (GDP) at current prices, amounted to IDR 5,296.0 trillion, and at constant prices (2010), reached about IDR 3,124.9 trillion.
Indonesia's economy in the third quarter of 2023 grew by 1.60 percent compared to the previous quarter (q-to-q). On the produc on side, the highest growth occurred in Construc on at 5.87 percent. Meanwhile, on the expenditure side, Gross Fixed Capital Forma on (GFCF) component experienced the highest growth at 7.70 percent.
Indonesia'/s economy grew by 4.94 percent in the third quarter of 2023, compared to the third quarter in 2022 (y-on-y). On the produc on side, Transporta on and Storage experienced the highest growth at 14.74 percent. Meanwhile, on the expenditure side, Nonproﬁ t Ins tu ons Serving Households Final Consump on Expenditure (NPISHs FCE) component experienced the highest growth at 6.21 percent.
Indonesia's economy cumula vely, to the third quarter of 2023 grew by 5.05 percent (c-to-c). On the produc on side, Transporta on and Storage experience the highest growth at 15.30 percent. Meanwhile, from the expenditure side, the highest growth occurred in the NPISHs FCE component at 7.01 percent.
Spatially, the Indonesian economy in the third quarter of 2023 experienced slowing growth in almost all provinces (y-on-y), in which the group of provinces on Jawa Island became the largest contributor to the economy with a contribu on of 57.12 percent and an economic growth rate of 4.83 percent (y-on-y).

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