Indonesia’s Economic Growth in Q3-2024 was 1.50 Percent (Q-to-Q) - BPS-Statistics Indonesia
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BPS-Statistics Indonesia

Indonesia’s Economic Growth in Q3-2024 was 1.50 Percent (Q-to-Q)

Release Date : November 5, 2024
File Size : 2.34 MB

Abstract

  • Indonesia’s economy in the third quarter of 2024 reached IDR5,638.9 trillion at current prices and IDR3,279.6 trillion at constant prices (2010).
  • Indonesia’s economy in the third quarter of 2024 grew by 1.50 percent compared to the previous quarter (q-to-q). On the production side, Construction experienced the highest growth at 6.06 percent. Meanwhile, on the expenditure side, Gross Fixed Capital Formation (GFCF) component experienced the highest growth at 8.44 percent.
  • Indonesia’s economy grew by 4.95 percent in the third quarter of 2024, compared to the third quarter in 2023 (y-on-y). On the production side, Other Services Activities experienced the highest growth at 9.95 percent. Meanwhile, on the expenditure side, Non-Profit Institutions Serving Households Final Consumption Expenditure (NPISHs FCE) component experienced the highest growth at 11.69 percent.
  • Cumulatively, the Indonesia’s economy grew by 5.03 percent up to the third quarter of 2024 (c-to-c). On the production side, Accommodation and Food Service Activities experienced the highest growth at 9.29 percent. Meanwhile, on the expenditure side, NPISHs FCE experienced the highest growth at 15.10 percent.
  • Spatially, the Indonesian economy in the third quarter of 2024, compared to the same period last year, recorded stable growth (y-on-y). The group of provinces in Jawa Island was still the largest contributor to the economy with a role of 56.84 percent of national GDP and recorded growth of 4.92 percent (y-on-y).
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