Indonesia GDP Annual Growth Rate

The Gross Domestic Product (GDP) in Indonesia expanded 5.21 percent in the first quarter of 2014 over the same quarter of the previous year. GDP Annual Growth Rate in Indonesia averaged 5.42 Percent from 2000 until 2014, reaching an all time high of 7.16 Percent in the fourth quarter of 2004 and a record low of 1.56 Percent in the fourth quarter of 2001. GDP Annual Growth Rate in Indonesia is reported by the Statistics Indonesia.


Indonesia GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
5.21 5.72 7.16 1.56 2000 - 2014 Percent Quarterly
Indonesia is the largest economy in South East Asia. Industry accounts for the largest share of GDP (46.5 percent of total GDP). Within industry, the most important is manufacturing, which has been one of the main growth engines (24 percent of total output). Mining and quarrying accounts for 12 percent, construction for 10 percent and electricity, gas and water supply for 0.75 percent. Services constitute 38 percent of total GDP. Within services, the most important are: trade, hotel and restaurants (around 14 percent of GDP); transport and communication (7 percent of GDP); finance, real estate and business services (7 percent of GDP) and government services (6 percent). Agriculture accounts for the remaining 15 percent. This page provides - Indonesia GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Can Indonesian Economy be Fixed by a New President?

On July 22nd, Jako Widodo, the reformist Jakarta governor was officially declared a new president of Indonesia. The new head of state will have a difficult task of tackling structural problems including reducing fuel subsidy, fixing infrastructure, encouraging foreign direct investment and increasing the country’s productivity and competitiveness.

Who is a new president?

The 53-year’s old Jako Widodo is a former furniture dealer from Central Java. His political career kicked off in 2005 when he became a mayor of his hometown Solo. In 2012, he became the governor of Jakarta. He developed clean reputation, humble attitudes and continues to become regular visitor to slum areas.

What is his economic agenda?

1. Cutting fuel subsidies to control the widening budget deficit which in 2013 accounted for 3.3 percent of GDP. In 2013, the energy subsidy cost around IDR 204 trillion (USD 17.5 billion) and according to revised budget for 2014, they are projected to reach IDR 247 trillion (USD 21 billion). 

2. Infrastructure development. Jokowi pledged the construction of 2 thousand kilometers of roads nationwide, 10 new airports, 10 ports and 10 industrial estates.

3. New agricultural policies aiming at decreasing reliance on food imports and reducing poverty among farmers. Those include: improving the irrigation network, which will cover up to 3 million hectares of rice fields, 1 million hectares of it would be on outside Java and to seting up 5 thousand traditional markets as a way to support micro, small and medium business. New president also plans to set up a development and infrastructure bank to offer financing for farmers and the agricultural industry; limit plantation expansion and stop conversion of agricultural land into industry.

4. Encouraging foreign direct investment. Although, the ore export ban implemented in January of 2014, won’t be removed; the new government proposes fiscal incentives for the oil and gas sector depending on the size of the project and the need of development. More importantly, Jakowi administration intends to provide one-stop service point aiming at reducing waiting time for big business licenses from 45 to 15 days.

5. Without going into the details, there are plans for building regional science and techno parks, academies and vocational schools; ban the sale of national banks to foreign investors and increase the tax to GDP ratio to 16 percent from current 12 percent.
7/22/2014 3:05:48 PM

Recent Releases

Indonesia GDP Growth Slows to 5-Year Low
Indonesian economy advanced 5.21 percent year-on-year in Q1 of 2014, the slowest pace since 2009 and lower than the 5.72 percent growth rate in the previous quarter. A government ban imposed on exports of unprocessed minerals in January hurt exports and the mining sector. Published on 2014-05-05

Indonesia GDP Accelerates in Q4 2013
In the last quarter of 2013, Indonesian GDP advanced at a faster-than-expected 5.72 percent over a year earlier, up from 5.62 percent in the previous quarter and breaking a two-year trend of declining GDP. Published on 2014-02-05

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2013-08-02 03:00 AM Indonesia
GDP Growth Rate YoY
Q2 2013 5.81% 6.03% 5.95% 6%
2013-11-06 04:00 AM Indonesia
GDP Growth Rate YoY
Q3 2013 5.62% 5.81% 5.6% 5.79%
2014-02-05 02:00 AM INDONESIA
GDP Growth Rate YoY
Q4 2013 5.72% 5.62% 5.3% 5.71%
2014-05-05 05:00 AM Indonesia
GDP Growth Rate YoY
Q1 2014 5.21% 5.72% 5.6% 5.5%
2014-08-05 05:00 AM Indonesia
GDP Growth Rate YoY
Q2 2014 5.21% 5.44%

GDP Last Previous Highest Lowest Unit
GDP 868.35 878.04 878.04 5.98 USD Billion [+]
GDP Growth Rate 0.95 -1.42 3.82 -3.57 Percent [+]
GDP Annual Growth Rate 5.21 5.72 7.16 1.56 Percent [+]
GDP Constant Prices 706559.40 699900.00 709984.50 340865.20 IDR Billion [+]
Gross National Product 680599.55 670807.66 681001.66 317687.50 IDR Billion [+]
GDP per capita 1810.31 1732.18 1810.31 275.78 USD [+]
Gross Fixed Capital Formation 170392.94 180500.00 180500.00 63970.10 IDR Billion [+]
GDP per capita PPP 4271.51 4071.65 4271.51 1371.32 USD [+]

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