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COUNTRY INSIGHTS

A record rise in car exports
INDONESIA · Report · 30 Jan 2023

The Indonesian economy posted an encouraging result for Q3 2022 with GDP growth of 5.72%, significantly higher than 5.44% achieved in the previous quarter. One of the main contributors to this growth was the rise in exports. In 2022, Indonesian exports reached $292 billion, a record level. Ind...

Growth of 5.3%-5.5% likely for 2022; 2023 prospects look bright
INDONESIA · Report · 29 Dec 2022

Executive Summary This report will reach the readers at the end of the year of 2022. Therefore, in ending the year 2022 for the Indonesian economy, it can be concluded with high notes. The first high note was on the growth of the economy. IMF Managing Director in the middle of this year said ...

Another spike in growth
INDONESIA · Report · 28 Nov 2022

The Indonesian economy posted an encouraging result for Q3 2022, growing by 5.72% Y/Y. This is significantly higher than the 5.44% achieved in the previous quarter. In fact, the rate of growth also exceeded the consensus. Compared to the previous quarter, the Indonesian economy also expanded, ...

Another rate hike
INDONESIA · Report · 31 Oct 2022 · 1 response

For the past several months, Indonesia's economy has been hit by rising inflation. The Central Board of Statistics reported early this month on the Consumers Price Index for the month of September 2022, which registered inflation of 1.17%, a relatively high monthly rate. Inflation was broad based...

Bank Indonesia raises the benchmark rate for a second time
INDONESIA · Report · 28 Sep 2022

For the second meeting in a row, Bank Indonesia raised the benchmark interest rate, this time by 50 basis points. The benchmark interest rate currently stands at 4.25%. This policy was decided during the Monetary Policy meeting of September 21-22, 2022. The first increase of the benchmark rate wa...

Inflation continues to creep higher
INDONESIA · Report · 30 Aug 2022

The Indonesian economy posted an encouraging result for GDP in Q2 2022, growing by 5.44% Y/Y, significantly above the 5.01% achieved in the previous quarter. In fact, the rate of growth also exceeded the consensus, which expected the rate of growth to be at most 5.20% for the quarter. Compare...

No rise yet in the interest rate
INDONESIA · Report · 27 Jul 2022

As in many other countries in the world, the Indonesian economy has seen inflation creep higher. A number of factors have played significantly, especially the surge of prices in a number of key commodities such as cooking oil and non-subsidized gasoline, as well as agricultural commodities that w...

Strengthening the supply chain for electric vehicles
INDONESIA · Report · 30 Jun 2022

Lucky Goldstar, a Korean company, through its subsidiary LG Energy Solution, recently broke ground to build new battery materials plants in Batang Industrial Park, Central Java, Indonesia. Of the six stages in making EV batteries, the plant in Batang will comprise three of those stages. It will h...

Inflation is creeping higher
INDONESIA · Report · 31 May 2022

The Indonesian economy posted encouraging results for Q1 2022. GDP grew by 5.01% year over year, above expectation. This rate of growth was almost the same as the annual rate of growth achieved in Q4 2021 of 5.02%. Compared to the previous quarter, the Indonesian economy contracted by 0.96%. Howe...

​Another spike in trade
INDONESIA · Report · 29 Apr 2022

The Indonesian economy has been blessed by the spike in commodity prices. The spike in commodity prices has boosted the export value of various commodities, especially coal, CPO and iron and steel. Export performance in Indonesia broke a new record, achieving $26.5 billion in March 2022. At the s...

Preparing for the new normal
INDONESIA · Report · 29 Mar 2022

The Indonesian economy has been significantly affected by the pandemic for the past two years, and this has had a significant bearing on the Indonesian government budget. Expenditures for medical assistance were very high over the past two years, as were expenses for the social safety net program...

Growing relatively well
INDONESIA · Report · 28 Feb 2022

Although less than predicted, Indonesia saw a small spike in its economic growth in the fourth quarter of 2021. The Indonesian economy in Q4 2021 reported an increase of 5.02% year over year. Compared to the previous quarter, the Indonesian economy grew by 1.06%. This rate of growth was​ actually...

Envisioning a green industrial park
INDONESIA · Report · 31 Jan 2022

On several occasions, especially during the G20 meeting in Rome, as well as the recent COP 26 meeting in Glasgow, Indonesian President Joko Widodo stated that the Indonesian government envisions a green industrial park to be located in Northern Kalimantan Province. In fact, to show that the state...

Ending 2021 with cheers
INDONESIA · Report · 28 Dec 2021

The year 2021 was indeed a challenging year. The pandemic was not yet declared over, and the overhang led to continued uncertainty in the global economy. But in ending this year, Indonesia has seen some reasons to cheer. The first reason, as mentioned in our previous reports, is the amount of ...

Exports keep improving
INDONESIA · Report · 29 Nov 2021

As predicted, Indonesia saw a small retreat in its economic growth in Q3 2021. The economy reported an increase of 3.51% from the same period in the previous year. Compared to the previous quarter, the Indonesian economy grew by 1.55%. This is the second positive growth rate for the economy since...

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