Indonesia’s GDP Growth in Q1-2024 was 5.11 Percent (y-on-y) and Indonesia’s GDP Growth in Q1-2024 was -0.83 Percent (q-to-q).

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Release Date	:	May 6, 2024
File Size	:	3.58 MB

Abstract

Based on Gross Domestic Product (GDP) at current prices in the first quarter of 2024, Indonesia’s economy reached IDR5,288.3 trillion and IDR3,112.9 trillion at constant prices (2010).
Indonesia’s economy grew by 5.11 percent in the first quarter of 2024, compared to the first quarter of 2023 (y-on-y). Public Administration and Defence; Compulsory Social Security experienced the highest growth at 18.88 percent, on production side. Meanwhile, the Nonprofit Institutions serving Households Final Consumption Expenditure (NPISHs FCE) component experienced the highest growth at 24.29 percent on the expenditure side.
Indonesia’s economy in the first quarter of 2024 contracted by 0.83 percent compared to the previous quarter (q-to-q). On the production side, the deepest contraction occurred in the Education at 10.34 percent. Meanwhile, on the expenditure side, the General Government Final Consumption Expenditure (GGFCE) component experienced the deepest contraction at 36.69 percent.
During the first quarter of 2024, the group of provinces on the Jawa island still showed its influence spatially in the Indonesian economy by recording a role of 57.70 percent despite experiencing a slowdown in the growth of 4.84 percent compared to the first quarter of 2023 (y-on-y).

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