Indonesia’s economy grows 5% in Q2 ’24

Indonesia’s economy expanded by 5.05 per cent year-on-year in the second quarter of 2024, according to the latest data released by the government. This marks a slight slowdown compared to the previous quarter’s 5.11 per cent growth rate.

On a quarterly basis, the economy grew by 3.79 per cent. In terms of production, the agriculture, forestry, and fishing sector experienced the most significant growth at 23.43 per cent.

From an expenditure standpoint, government spending contributed the most to growth, increasing by 19.58 per cent.

For the first half of 2024, the economy grew by 5.08 per cent compared to the same period last year.

The public administration and defence sector led growth on the production side, while non-profit institutions serving households contributed the most on the expenditure side.

Attribution: BPS-Statistics Indonesia report