BPS Records Indonesia's Economy Grows 4.94 Percent In The Third Quarter Of 2023

JAKARTA - The Central Statistics Agency announced that Indonesia's economic growth in the third quarter of 2023 reached 4.94 percent year on year (yoy).

However, when compared to the second quarter of 2023, Indonesia's economy grew 1.6 percent.

Acting Head of BPS Amalia Adininggar Widyasanti said that the Indonesian economy based on the amount of GDP in the third quarter of 2023 at current prices was IDR 5,296 trillion on a constant price basis of IDR 3,124.9 trillion.

So that Indonesia's economic growth in the third quarter of 2023 when compared to the second quarter of 2023 or quarter on quarter (qoq) grew by 1.60 percent.

"When compared to the third quarter of 2023 or year on year, the Indonesian economy grew by 4.94 percent," Amalia said at a press conference, Monday, November 6.

Amalia emphasized that the Indonesian economy is quite strong against the shocks that occur, with various excalations that make the global economy slow down.

"In the midst of the slowdown in the global economy, climate change has occurred and the decline in the price of superior export commodities, Indonesia's economic resilience is again reflected in economic growth of 4.94 percent yoy or cumulatively Indonesia's economy has grown by 5.05 percent c to c," he said.

According to Amalia, several events that have contributed to the domestic economy, such as the condition of Indonesia's main trading partner countries, grew relatively slower compared to the second quarter of 2023, such as China and India.

In addition, the decline in global commodity prices has an impact on leading export commodities. These include palm oil (CPO), nickel and coal. On the other hand, there is an increase in mobility, increased tourism, stable people's purchasing power and solid production activities.