Indonesian Economy Grows 4.73% in Third Quarter of 2015
Statistics Indonesia (BPS) announced this morning that Indonesia's official third quarter gross domestic product (GDP) growth was 4.73 percent (y/y), slightly below analysts' consensus at 4.80 percent (y/y). However, Indonesia's economic expansion improved from the six-year low of 4.67 percent (y/y) in the preceding quarter. Still, growth in Southeast Asia's largest economy remains sluggish amid low commodity prices, weak global demand, weaker household consumption, the high interest rate environment, and stagnating investment.
Later today Indonesia Investments will publish an analysis of Indonesia's third quarter economic growth performance.
Indonesia's Quarterly GDP Growth 2009-2015 (annual % change):
| Year | Quarter I |
Quarter II | Quarter III | Quarter IV |
| 2015 | 4.72 | 4.67 | 4.73 | |
| 2014 | 5.14 | 5.03 | 4.92 | 5.01 |
| 2013 | 6.03 | 5.81 | 5.62 | 5.72 |
| 2012 | 6.29 | 6.36 | 6.17 | 6.11 |
| 2011 | 6.45 | 6.52 | 6.49 | 6.50 |
| 2010 | 5.99 | 6.29 | 5.81 | 6.81 |
| 2009 | 4.60 | 4.37 | 4.31 | 4.58 |
Source: Statistics Indonesia (BPS)
Macroeconomic Indicators Indonesia, 2009-2015:
| 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | |
| • Gross Domestic Product² (annual percent change) |
4.6 | 6.4 | 6.2 | 6.0 | 5.6 | 5.0 | 4.8¹ |
| • Consumer Price Index (annual percent change) |
4.8 | 5.1 | 5.4 | 4.3 | 8.4 | 8.4 | 3.0¹ |
| • Exchange Rate (IDR/USD) |
10,389 | 9,074 | 8,773 | 9,419 | 11,563 | 11,800 | 13,500¹ |
| • Current Account Balance (percent of GDP) |
0.7 | 0.2 | -2.8 | -3.3 | -2.9 | -2.5¹ | |
| • Population (in millions) |
241 | 244 | 247 | 250 | 253 | 255¹ | |
| • Poverty (percent of population) |
14.2 | 13.3 | 12.5 | 11.7 | 11.5 | 11.0 | 11.2³ |
| • Unemployment (percent of work force) |
7.9 | 7.1 | 6.6 | 6.1 | 6.3 | 5.9 | 5.8³ |
| • Foreign Exchange Reserves (in billion USD) |
66.1 | 96.2 | 110.1 | 112.8 | 99.4 | 111.9 | 101.7 |
¹ indicates a forecast
² Statistics Indonesia (BPS) shifted the basis of the computation from the year 2000 to 2010 and adopted a significantly updated methodology, hence GDP growth results between 2010 and 2014 have been revised in early 2015
³ February 2015 data
Sources: World Bank, Statistics Indonesia, Bank Indonesia and International Monetary Fund (IMF)
Further Reading:
• Gross Domestic Product of Indonesia
• Economy of Indonesia: GDP Growth Slows to 4.67% y/y in Q2-2015