Indonesia's Economy Grew 5.17% in 2018, the Highest Since 2014

Economics & Macro

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06/02/2019 12:43 WIB

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2018 economic growth was the highest in the last five years.

Indonesia's Annual Economic Growth (1961-2018)

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Indonesia's Economy Grew 5.17% in 2018, the Highest Since 2014

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Indonesia's Annual Economic Growth (1961-2018)

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Indonesia's economy, based on the 2018 Gross Domestic Product (GDP) at current prices, reached Rp 14,837.4 trillion. Meanwhile, based on constant prices, it grew by 5.17% to Rp 10,425.3 trillion compared to Rp 9,912.7 trillion in 2017.

The 2018 economic structure, spatially, was still dominated by provinces on Java and Sumatra. Java contributed 58.48% to the national GDP, followed by Sumatra at 21.58%, Kalimantan at 8.2%, Sulawesi at 6.22%, Bali and Nusa Tenggara at 3.02%, and Maluku and Papua at 2.47%.

Last year's national economic growth was the highest in the last five years. Indonesia's highest economic growth was achieved in 1968, reaching 10%. As shown in the graph below, the Indonesian economy also experienced contractions (negative growth) twice, in 1963 and in 1998 during the financial crisis.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."