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Today's Headlines GDP

  • Indonesian Government and Commission XI Agree on Budget Revision

    The Indonesian government and Commission XI of the House of Representatives (DPR) agreed on several macroeconomic projections for the 2013 Revised State Budget (RAPBN-P 2013). The government requested a number of modifications to the 2013 State Budget as earlier assumptions, mentioned in the original 2013 State Budget, were not in line with the current economic conditions. Before reaching the agreement, fractions in the commission changed a number of proposed revisions of the government.

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  • Indonesian Government Projects 6.4% to 6.9% Economic Growth in 2014

    In the draft for the State Budget of 2014 (RAPBN 2014), the government of Indonesia projects economic growth of between 6.4 and 6.9 percent. Continued global recovery is expected to result in higher GDP growth compared to 2012 (6.23 percent) as it will result in better demand for Indonesian products, such as commodities. The main pillar of Indonesia's GDP growth - domestic consumption - is expected to grow due to the population's higher purchasing power and the upcoming legislative and presidential elections.

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  • Market Capitalization of Indonesia's Stock Exchange Grows Strong

    Market capitalization of the Indonesia Stock Exchange (IDX) has surpassed its psychological boundary of IDR 5,000 trillion (USD $512.82 billion) last week, supported by the new record high level position of the Indonesia Stock Index (IHSG) on Friday at 5,145.68 points. Up to 17 May 2013, the IHSG gained 18.41 percent this year, thus outperforming all other major stock indices in Asia except for the Philippines and Japan's Nikkei, which gained 41.64 percent this year amid an aggressive stimulus plan of the central bank of Japan.

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  • Bank Indonesia Revises Down GDP Growth, Interest Rate Kept at 5.75%

    The central bank of Indonesia (Bank Indonesia, or BI) kept its benchmark interest rate at 5.75 percent and its overnight deposit facility rate (FASBI) at four percent as the country's core inflation figure is still within the target range of the central bank (3.5-5.5 percent). Core inflation currently stands at 4.12 percent (YoY). However, as the price of subsidized fuel is expected to rise in June, inflation may increase and could trigger a policy response by Bank Indonesia later this year.

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  • Indonesia's GDP Slows Down to 6.02 Percent in Quarter 1 - 2013

    Today, Statistics Indonesia released Indonesia's economic growth figure for the first quarter of 2013. Compared to Q1-2012, Indonesia's gross domestic product (GDP) grew 6.02 percent. This growth was supported by almost every sector except for Mining and Extracting, which fell 0.43 percent (YoY), indicating that natural resources are still not back on track. The largest contributor to Indonesia's Q1-2013 growth is Transportation and Communication, which grew 9.98 percent.

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  • Number of Foreign Tourists in Indonesia Rises to 2 Million in Q1-2013

    According to data from Statistics Indonesia (Badan Pusat Statistik), Indonesia was visited by over 725 thousand foreign visitors in March 2013, up 10.1 percent compared to the same month last year. The Indonesian government has set the ambitious target of welcoming a total of nine million foreign tourists in 2013. In 2014, it wants at least 10 million foreigners to visit Indonesia. The government expects these increases to originate mainly from the Asia-Pacific region itself.

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  • Indonesia's Subsidized Fuel Price Will Rise to Relieve Government Budget Balance

    This morning (30/04/13), president Susilo Bambang Yudhoyono delivered a speech in which he announced that the price of subsidized fuel will increase to relieve mounting pressures on the government budget deficit. Yudhoyono refrained from mentioning a new price level nor did he announce when the new measure will be implemented. He said that cash compensation programs for the poor need to be prepared first before adjustment of the country's subsidized fuel price can be executed.

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  • Property Developer Lippo Karawaci Announces Dividend and Profit Projection

    Indonesia's largest listed property developer, PT Lippo Karawaci, will distribute IDR 270 billion (USD $27.8 million) in dividends to its shareholders (IDR 11,86 per share). This amount is equivalent to 25.5 percent of the company's net profit in 2012. The developer posted a 49.7 percent increase in net profit last year to IDR 1.06 trillion (USD $109.3 million). The company is convinced that it will increase its net profit to IDR 1.9 trillion (USD $195.9) in 2013.

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  • Indonesia's Car Industry Continues Strong Growth in Q1-2013

    Indonesia's demand for cars stayed strong as the first quarter of 2013 saw double-digit growth in car sales compared to the same period last year. According to Gaikindo (the Indonesian Automotive Industry Association), Indonesia posted an 18 percent growth in car sales in Q1-2013, which translates to 297,785 car units sold in this year's first quarter. However, Gaikindo believes that growth for full-year 2013 will be limited or equal to last year's record sales performance.

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  • Indonesia's Central Bank Expects National Economy to Grow by 6.3-6.8 Percent

    Indonesia's central bank (Bank Indonesia) expects the Indonesian economy to grow between 6.3 and 6.8 percent in 2013, supported by strong domestic consumption and foreign investment, with inflation rising by about 4.5 percent. Indonesian exports are expected to increase due to better global demand for Indonesia's commodities such as coal and palm oil, with commodity prices rising accordingly. But some problems in Indonesia's financial system remain to be solved.

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Latest Columns GDP

  • Bank Indonesia Expects Indonesian Economy to Grow 5.3% in Q2-2014

    Bank Indonesia Expects Indonesian Economy to Grow 5.3% in Q2-2014

    The central bank of Indonesia (Bank Indonesia) expects Indonesia’s economy to grow by 5.3 percent in the second quarter of 2014. If realized, it means that gross domestic product (GDP) of Southeast Asia’s largest economy will accelerate from the disappointing GDP growth result recorded in the first quarter of 2014 (5.21 percent). Perry Warjiyo, Deputy Governor at Bank Indonesia, said that growth in Q2-2014 will be primarily supported by household consumption and investments which traditionally peak in the second quarter.

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  • Update Indonesian Macroeconomy; ICRA Indonesia's Monthly Review

    Update Indonesian Macroeconomy; ICRA Indonesia's Monthly Review

    ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the April 2014 edition, a number of important topics that are monitored include Indonesia's inflation rate, the trade balance, the BI rate, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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  • Official Press Release Bank Indonesia: BI Rate Maintained at 7.50%

    Official Press Release Bank Indonesia: BI Rate Maintained at 7.50%

    The central bank of Indonesia (Bank Indonesia) decided at today’s Bank Indonesia Board of Governors’ Meeting, convened on 8 May 2014, to maintain the country's benchmark interest rate (BI rate) at 7.50 percent, with the Lending Facility rate and Deposit Facility rate held at 7.50 percent and 5.75 percent respectively. This policy is consistent with efforts to steer the rate of inflation towards its target corridor of 4.5±1 percent in 2014 and 4.0±1 percent in 2015, as well as to reduce the current account deficit to a more sustainable level.

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  • What about Indonesia's Economic Growth in 2014? Growing or Slowing?

    After Statistics Indonesia (BPS) had announced on Monday (05/05) that Indonesia's gross domestic product (GDP) grew by 5.21 percent year-on-year (yoy) in the first quarter of 2014 (considerably below analysts' projections of around 5.6 percent), concerns have risen about the country's economic expansion for the remainder of the year. The government of Indonesia targets a GDP growth rate of between 5.8 and 6.0 percent (yoy). However, several international institutions do not agree with this optimistic target.

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  • Further Slowing Economic Growth of Indonesia in the First Quarter of 2014

    Further Slowing Economic Growth of Indonesia in the First Quarter of 2014

    Statistics Indonesia (BPS) announced on Monday (05/05) that the economy of Indonesia - Southeast Asia's largest economy - grew at a much slower pace in the first quarter of 2014 than had been expected by analysts. Gross domestic product growth slowed to 5.21 percent (year-on-year) in Q1-2014, significantly down from the 6.03 percentage growth (yoy) that was recorded in Q1-2013. Gross domestic fixed capital formation (GFCF) slowed to 5.13 percent from 5.9 percent in the same period last year.

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  • ICRA Indonesia: Analysis of Economic Impact of Raw Minerals Export Ban

    ICRA Indonesia released an analysis of the economic impact of the ban on export of raw minerals. The ban - stipulated by the new 2009 Mining Law - became effective per 12 January 2014 (although in a milder form as some mineral ore exports are allowed under specific terms) and aims at boosting domestic processing. However, it led to great concern among domestic and foreign stakeholders as its implications on the economy of Indonesia - a global leader in exports of mineral resources - were unknown.

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  • Bank Indonesia May Hike Interest Rates to Safeguard Financial Stability

    Bank Indonesia May Hike Interest Rates to Safeguard Financial Stability

    Standard Chartered Bank Economist Eric Sugandi expects that the central bank of Indonesia (Bank Indonesia) will have raised its benchmark interest rate (BI rate) by 50 basis points (bps) to 8.00 percent by the end of 2014. Sugandi also said that it is highly unlikely that Bank Indonesia will lower its BI rate in the next two years amid further Federal Reserve tapering and possible US interest rate hikes in 2015 and 2016. Moreover, the Indonesian government may still decide to reduce fuel subsidies further (thus triggering inflationary pressures).

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  • ICRA Indonesia’s Economic Review; an Update on the Macroeconomy

    ICRA Indonesia’s Economic Review; an Update on the Macroeconomy

    ICRA Indonesia, an independent credit rating agency and subsidiary of ICRA Ltd. (associate of Moody's Investors Service), publishes a monthly newsletter which provides an update on the financial and economic developments in Indonesia of the last month. In the March 2014 edition, a number of important topics that are monitored include Indonesia's inflation rate, the trade balance, the BI rate, the IDR rupiah exchange rate, and gross domestic product (GDP) growth. Below is an excerpt of the newsletter:

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  • Bank Indonesia Projects Indonesia's GDP Growth at 5.77% in Q1-2014

    The central bank of Indonesia (Bank Indonesia) expects Indonesia's economic growth to slow to 5.77 percent (year-on-year) in the first quarter of 2014. However, despite this further slowing trend, the institution is content with recent macroeconomic developments: external demand is growing, while domestic demand is moderating, thus impacting positively on the country's current account deficit as well as inflation. Household consumption is expected to have grown in Q1-2014 due to the holding of legislative elections on 9 April 2014.

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  • Bank Indonesia Maintains Benchmark Interest Rate (BI Rate) at 7.50%

    The central bank of Indonesia (Bank Indonesia) decided to maintain its benchmark interest rate (BI rate) at 7.50 percent at the Board of Governors’ Meeting held on Tuesday 8 April 2014. The Lending Facility rate and Deposit Facility rate were held at 7.50 percent and 5.75 percent respectively. This policy is consistent with ongoing efforts to steer inflation back towards its target corridor of 4.5±1 percent in 2014 and 4.0±1 percent in 2015, as well as to reduce the current account deficit to a more sustainable level.

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