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Indonesian economy grows by 4.94% in Q3

Indonesia's economic growth in the third quarter of 2023 increased by 4.94% year-on-year, and 1.6% month-on-month, according to the Central Statistics Agency (BPS).
Indonesian economy grows by 4.94% in Q3 ảnh 1Illustrative image (Photo: AFP/VNA)
Jakarta (VNA) - Indonesia's economic growth in the third quarter of2023 increased by 4.94% year-on-year, and 1.6% month-on-month, according to theCentral Statistics Agency (BPS).

Acting Head of BPS Amalia AdininggarWidyasanti said on November 6 that  Indonesia's Gross Domestic Product (GDP) atcurrent market prices (ADHB) amounted to over 5.29 trillion IDR (341 million USD) inthe third quarter. Furthermore, when viewed at constant market prices (ADHK),it was recorded at 3.12 trillion IDR (201 million USD).

According to Amalia, the realisation ofeconomic growth in the the quarter is still considered quite favourable,especially given the backdrop of a slowing global economy, climate change, anddecreasing prices of key export commodities.

The processing and manufacturing industry wasthe country’s biggest growth driver in the third quarter. Amalia explained thatthe growth of the manufacturing sector is supported by high domestic demand,including for metal goods such as computers, electronic products, optics andelectrical equipment, which increased by 13.68% over the same period last year./.
VNA

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