Indonesia's economy grew by 5.03% in the first quarter of 2023, beating China and achieving the second-highest economic growth rate in the world. This figure is higher than what analysts had predicted, which was around 4.8% to 4.9%. The growth was driven by strong domestic conditions, including solid household consumption, international trade, and investment.
The growth was dominated by four main sectors, including manufacturing, trade, transportation and warehousing, and information and communication. The transportation and warehousing sector recorded the highest growth rate at 15.93%, mainly due to an increase in mobility, with railway transport increasing by 51.09% and air transport by 41%. The growth rate shows that the national economy remains resilient amid global uncertainty. The government claimed that Indonesia's economy achieved the second-highest growth rate in the world and is still stable.
