GDP Growth Rate: 5.02% YoY
GDP Growth Rate: 0.53% QoQ
Full Year GDP Growth Rate 2024: 5.03%

Indonesia’s economic growth, as measured by Gross Domestic Product (GDP), recorded only 5.02% YoY in Q4 2024, down from 5.04% YoY in Q4 2023 and below the government’s 5.2% target set in the macroeconomic basic assumptions of the 2024 State Budget (APBN). The GDP value in Q4 2024 at current prices was IDR 5,674.9 trillion, and at constant prices was IDR 3,296.7 trillion. All expenditure-based components experienced growth. The element with the most extensive distribution was household consumption, contributing 54.04% and growing by 4.94% YoY. Additionally, Gross Fixed Capital Formation (GFCF), expenditure for capital goods with a useful life of more than one year and not considered consumption goods, contributed 29.15% to total GDP and experienced growth of 5.03% YoY.

By PHINTRACO SEKURITAS | Research
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