Statistics Indonesia: The Indonesian Economy is Experiencing Slow Growth

JAKARTA – In the third quarter of 2023, almost all provinces in Indonesia experienced slowing growth in the economy (y-on-y), officials said on Monday (6/11).

Acting Head of the Statistics Indonesia (BPS) Amalia Adininggar Widyasanti said that, compared to the previous quarter (q-to-q), the Indonesian economy in the third quarter of 2023 experienced growth of 1.60 percent.

Meanwhile, when compared with the third quarter of 2022 (y-on-y), the Indonesian economy in the third quarter of 2023 experienced growth of 4.94 percent.

“Until the third quarter of 2023, the Indonesian economy experienced growth of 5.05 percent (c-to-c),” she said to the media in a press conference.

The Indonesian economy in the third quarter of 2023, she continued, based on the size of Gross Domestic Product (GDP) at current prices reached IDR 5,296.0 trillion or at constant 2010 prices reached IDR 3,124.9 trillion. 

Furthermore, Amalia explained that the group of provinces on the island of Java was the largest contributor to the economy with a contribution of 57.12 percent.

Comes in the second place is the island of Sumatra which contributes 22.16 percent to the economy, followed by the island of Kalimantan which contributes as much as 8.08 percent.

The island of Sulawesi is in fourth position with a contribution to the Indonesian economy in the third quarter of 2023 of 7.25 percent, while the islands of Bali and Nusa Tenggara contribute 2.80 percent.

Meanwhile, the islands of Maluku and Papua contribute 2.59 percent to the Indonesian economy in the third quarter of 2023.

However, the group of provinces on the islands of Maluku and Papua recorded the highest economic growth, namely 9.25 percent.

The rate of economic growth on Java Island itself was recorded at only 4.83 percent, the same as Kalimantan Island and lower than Sulawesi Island (6.44 percent).

The island of Sumatra recorded an economic growth rate of 4.50 percent, while the lowest growth occurred on the islands of Bali and Nusa Tenggara which grew by 3.43 percent.