In 2023, Indonesia's economy grew by 5.05%, a decrease from 5.31% in 2022 amid global economic slowdown and declining prices of key export commodities. Amalia A. Widyasanti, Acting Head of the Central Statistics Agency (BPS), stated that despite challenges, Indonesia ended 2023 with solid economic growth. In Q4 2023, the economy grew by 5.04%, higher than the same period in 2022, which recorded 5.01% growth. Indonesia's 2023 GDP based on current prices reached IDR 20,892.4 trillion, with GDP per capita at IDR 75.0 million or USD 4,919.7. The highest production growth occurred in the Transportation and Warehousing sector at 13.96%, while Nonprofit Institutions Serving Households (NPISH) Consumption Expenditure saw the highest growth at 9.83%.
In Q4 2023, the Transportation and Warehousing sector experienced the highest production growth at 10.33%, while NPISH Consumption Expenditure saw the highest growth at 18.11%. Compared to the previous quarter, Indonesia's economy in Q4 2023 grew by 0.45%. The Administration of Government Affairs, Defense, and Compulsory Social Security sector experienced the highest production growth at 19.81%, while Government Consumption Expenditure saw the highest growth at 39.13%. Throughout 2023, Indonesia's economy continued to grow spatially, with Maluku and Papua, Sulawesi, and Kalimantan recording the highest growth at 6.94%, 6.37%, and 5.43%, respectively. Meanwhile, provinces in Java, contributing 57.05% to the national economy, recorded a growth of 4.96%.
