Indonesia 2023 GDP growth slows to 5.1% on falling commodity prices


JAKARTA: Indonesia's annual economic growth fell slightly but remained solid at 5.05% last year, as falling commodity prices hit exports and tight monetary policy dampened demand.

The 2023 gross domestic product (GDP) growth rate, released by Statistics Indonesia on Monday, was close to the government's latest outlook of 5% and slightly below the 5.3% recorded in 2022, when economic activity was boosted by record exports amid a global commodity boom.

Get 20% OFF The Star Digital Access

Monthly Plan

RM 13.90/month

RM 11.12/month

Billed as RM 11.12 for the 1st month, RM 13.90 thereafter.

Best Value

Annual Plan

RM 12.33/month

RM 9.87/month

Billed as RM 118.40 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Indonesia , GDP ,

Next In Business News

Malaysia’s rare earth moment
A gift of growth
Big appetites for US snack M&A
Building on opportunity
Shot in the arm for med-tech�
China’s selective market advantage
AI gives diamond new shine
Subsidising the EV transition
Inside South Korea’s risky ETF boom
K-One’s cloud windfall tests next growth phase

Others Also Read