Indonesia GDP Trends Q3 2023

According to the latest data released on November 6, 2023 by Statistics Indonesia, the country's GDP grew by 4.9 per cent in Q3 2023.

The Q3 GDP performance was slower than the 5.2 per cent growth recorded in the second quarter of 2023 and below economists' expectations of 5 per cent.

On a quarterly basis, GDP expanded by 1.6 per cent in the third quarter after 3.9 per cent in the previous quarter.

In the July-September period the exports contracted to 4.3 per cent, and the household spending, which accounts for more than half of GDP, slowed to 5.1 per cent.

The International Monetary Fund (IMF) has estimated that Indonesia's GDP growth rate will be 5 percent in 2023, in line with the growth target set by the country's government.