Indonesia: 1Q23 GDP Growth

𝐈𝐧𝐝𝐨𝐧𝐞𝐬𝐢𝐚:  𝐆𝐃𝐏 𝐆𝐫𝐨𝐰𝐭𝐡 𝐢𝐧 𝐭𝐡𝐞 𝟏𝐐𝟐𝟑

Indonesia’s Gross Domestic Product  (GDP)  growth in the first quarter of 2023 (1Q23), at 5.03% as compared to the same quarter last year (Year-on-Year), is slightly higher than the consensus estimate of 4.90%.

The 1Q23 GDP figure pointed out that recovery momentum has been maintained  (in Chart 1) despite economic policies’ swing

Iɴᴅᴏɴᴇsɪᴀ Pʀᴏɢʀᴇss Wᴇʟʟ ɪɴ ᴛʜᴇ Nᴇɪɢʜʙᴏʀʜᴏᴏᴅ

Chart 7 shows the comparison of the GDP growth rates in the 1Q23 among the ASEAN-5country.

Given the size of the economy in terms of value (in Chart 8), Indonesia’s 1Q23 growth rate is outstanding.  Nevertheless, the current global challenge requires further sophistication of the economy for Indonesia as a country to be more influential in the world context.

Cheers,